Financials

Sources of Financial Support

Fundraising activities began in spring of 2019 upon 501(c)(3) confirmation from the Internal Revenue Service.  In the year 2020, efforts were put on hold due to restrictions caused by the pandemic. To date, sources of financial support include and will continue to derive from:

• One time and ongoing donations from local citizens

• One time and ongoing donations from small businesses

• Donations/Grants from corporations

• Donations through social media fundraising events

• Donations submitted through web site venues

• Anonymous donations through collections at local businesses

• Funds raised through 2019 Launch Gala dinner and presentation and future galas, presentations and fundraising events

• Funds raised through community activities, such as Celebrate East Lyme Day, Niantic Lions Arts and Crafts Show, Science Day at New London Library, Garde Arts Center hosts William Shatner event, and Niantic Farmers’ Markets

• Funds raised through partnerships with Boy Scouts of America, EL Public Library, PTOs, PTAs, and other local non-profits

• Corporate donations/grants for specific purchases, such as audio equipment

• Donations/Grants from private trusts

• In-kind donations for administrative supplies and promotional material

• In-kind donations for upgrading the physical space of the planetarium

• In-kind donations for assistance with web site optimization

• In-kind donations to improve marketing strategies

• Admission fees for school districts outside of East Lyme

• Admission fees for general public presentations

• Admission fees for corporations

Four Year Financial Statement

STARS to STEM fiscal year begins on October 1 and ends on September 30.  Although incorporation was granted on May 4, 2018, IRS designation as 501(c)(3) was not awarded until March of 2019.  Aggressive fundraising efforts could not begin until the formal designation of charity by the IRS was confirmed.  Efforts were put on hold during most of 2020 with agressive fundraising resuming in the summer of 2021.

The document below is our current financial summary of the past four full years of operation.