Highlights
- Stardust Foundation Inc reported TY2023 expenses of $3,120,373 against revenue of $1,575,088, a gap of roughly $1.5 million.
- Total assets fell from $30,883,921 in TY2021 to $26,358,147 in TY2023, a decline of more than $4.5 million over two years.
- The foundation reported zero officer compensation across all three years on file, and has operated from a Scottsdale address since receiving tax-exempt status in October 1993.
- TY2022 showed negative revenue of $219,707, suggesting investment losses or grant reversals that year before the partial recovery in TY2023.
Stardust Foundation Inc, a Scottsdale private foundation established in 1993 as successor to the Bisgrove Foundation, spent $3,120,373 in tax year 2023 while recording revenue of $1,575,088, according to IRS Form 990 data published by ProPublica Nonprofit Explorer. The $1.5 million shortfall continued a drawdown of the foundation's asset base that has accelerated since TY2021.
The three-year arc in the 990 data is stark. In TY2021, the foundation held $30,883,921 in assets and recorded revenue of $1,226,786 against expenses of $1,110,186, finishing roughly break-even on operations. In TY2022, revenue turned negative at $219,707, a figure consistent with investment losses or clawbacks on prior grant commitments, while expenses held at $138,595. By TY2023, assets had contracted to $26,358,147, a reduction of more than $4.5 million from the TY2021 peak.
The foundation reported zero officer compensation in each of the three years on file. That figure is notable for a foundation of this asset size, though it does not preclude compensation flowing through affiliated entities or management agreements not captured in the summary data.
Why did expenses jump to $3.1 million in TY2023?
The 990 summary data available through ProPublica does not itemize the components of the $3,120,373 in TY2023 expenses. Private foundations typically report grant disbursements, operating expenses, and investment management fees as separate line items in the full filing. The full TY2023 return, once posted to ProPublica or available directly from the IRS, would show whether the spike reflects accelerated grantmaking, a one-time capital outlay, or increased administrative costs.
The foundation, operating under EIN 86-0735230, is located at 14362 N Frank Lloyd Wright Blvd, Suite 1000, Scottsdale, AZ 85260, according to the Candid Foundation Directory. Candid describes its grantmaking as focused on arts and culture, health, human services, and community development, with emphasis on programs linking family and neighborhood stability. The foundation received its tax-exempt status in October 1993.
At $26.4 million in assets, Stardust remains a meaningful grantmaker by Arizona standards. But the trajectory, three consecutive years in which expenses have exceeded or nearly matched revenue, and assets down 15% from their TY2021 level, warrants scrutiny from any organization that relies on the foundation for multi-year funding commitments.
Methodology: Financial figures are drawn from IRS Form 990 summary data as reported by ProPublica Nonprofit Explorer for tax years 2021, 2022, and 2023. Tax year refers to the organization's fiscal year, not the calendar year in which the return was filed. Officer compensation figures reflect amounts reported in the 990 summary; full compensation schedules require review of the complete filing. Background on the foundation's history and grantmaking focus is drawn from the Candid Foundation Directory profile. The Signal has not reviewed the full TY2023 Form 990; the complete filing, when available, may clarify the composition of the $3.1 million in reported expenses.
The full TY2023 Form 990 is expected to be posted to ProPublica Nonprofit Explorer in the coming months.
Where to find them
- Methodology · methodologyit.tech
- Stardust Foundation Inc · charitynavigator.org · Instagram · Facebook · X
Sources
Every factual claim in this article traces to one of the sources below. See how we work for the editorial process.
- ProPublica Nonprofit Explorer retrieved 04/06/2026 03:06
- fconline.foundationcenter.org retrieved 04/06/2026 03:06
- Methodology (official site) retrieved 04/06/2026 03:06
- Stardust Foundation Inc (official site) retrieved 04/06/2026 03:06
Authored by The Scottsdale Signal. Drafted by AI from primary-source material under our beat-specific editorial guides; reviewed by humans before publish under our five-gate process. Sources retrieved at 04/06/2026 03:06. Every claim traces to a source.
