Is Foundation Source Charitable Foundation Inc Legit?
Quick charity verification for Foundation Source Charitable Foundation Inc (EIN: 201459350)
Verdict: Foundation Source Charitable Foundation Inc appears trustworthy
90/100Mission Score
$25KRevenue
$24KAssets
1Red Flags
4Strengths
Red Flags
Lack of detailed program spending breakdown in available data
Strengths
Consistent 0% officer compensation
Minimal liabilities reported across all filings ($0 or $1)
Revenue generally exceeds expenses in recent years, indicating financial stability
Lean operational structure with low reported expenses relative to revenue in most periods
Spending Breakdown
How Foundation Source Charitable Foundation Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Foundation Source Charitable Foundation Inc
Is Foundation Source Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation Source Charitable Foundation Inc (EIN: 201459350) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
Is Foundation Source Charitable Foundation Inc a good charity to donate to?
Foundation Source Charitable Foundation Inc has a Mission Score of 90/100. Revenue: $25K. Assets: $24K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Foundation Source Charitable Foundation Inc?
The Employer Identification Number (EIN) for Foundation Source Charitable Foundation Inc is 201459350. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Foundation Source Charitable Foundation Inc spend its money?
Foundation Source Charitable Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Foundation Source Charitable Foundation Inc's tax-exempt status?
You can verify Foundation Source Charitable Foundation Inc's tax-exempt status using EIN 201459350 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Foundation Source Charitable Foundation Inc demonstrates a consistent pattern of low expenses relative to revenue in most recent years, suggesting efficient operations. For example, in 2023, expenses were only $2,657 against $20,143 in revenue. However, the organization's assets have fluctuated significantly, from a high of $30,860 in 2023 to a low of $1,048 in 2011, indicating varying financial capacity over time. The consistent reporting of $0 in officer compensation across all available filings is a strong indicator of transparency and a commitment to directing funds towards the mission rather than executive salaries.
The organization's financial health appears stable, with revenue generally exceeding expenses in recent periods, allowing for asset growth. The NTEE code T22 (Grantmaking Foundations) suggests its primary activity is distributing funds, which aligns with low operational expenses if it primarily acts as a pass-through entity. The minimal liabilities reported ($0 or $1 across all filings) further reinforces a healthy balance sheet and low financial risk.
Overall, the Foundation appears to be a lean operation, effectively managing its resources. The absence of officer compensation is a significant positive for transparency and public trust, indicating that the organization is not burdened by high administrative overhead in terms of executive pay.