First Source Foundation C/O 1 St Source Bank 100 N Michigan St
EIN: 356034211 · South Bend, IN
| Metric | Value |
|---|---|
| Total Revenue | $11.4M |
| Total Expenses | $2.3M |
| Net Assets | $33.6M |
Is First Source Foundation C/O 1 St Source Bank 100 N Michigan St Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About First Source Foundation C/O 1 St Source Bank 100 N Michigan St
First Source Foundation C/O 1 St Source Bank 100 N Michigan St (EIN: 356034211) is a nonprofit organization based in South Bend, IN. The organization reported total revenue of $11.4M and total assets of $35.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of First Source Foundation C/O 1 St Source Bank 100 N Michigan St's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
First Source Foundation C/O 1 St Source Bank 100 N Michigan St is a large nonprofit that has been operating for 72 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.0M |
| Total Expenses | $2.3M |
| Surplus / Deficit | +$685K |
| Total Assets | $33.6M |
| Total Liabilities | $1 |
| Net Assets | $33.6M |
| Operating Margin | 23.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 175.9 months |
Financial Health Grade: A
In 2023, First Source Foundation C/O 1 St Source Bank 100 N Michigan St reported a surplus of $685K with revenue exceeding expenses, holds 175.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), First Source Foundation C/O 1 St Source Bank 100 N Michigan St's revenue has grown at a compound annual growth rate (CAGR) of 27.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.5% | -4.8% | +2.1% |
| 2022 | -56.8% | +9.9% | -0.2% |
| 2021 | +100.9% | +10.5% | +10.8% |
| 2020 | +75.2% | +5.6% | +2.3% |
| 2019 | -78.3% | +19.7% | +74.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1954 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for First Source Foundation C/O 1 St Source Bank 100 N Michigan St has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates First Source Foundation C/O 1 St Source Bank 100 N Michigan St with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $685K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about First Source Foundation C/O 1 St Source Bank 100 N Michigan St
Is First Source Foundation C/O 1 St Source Bank 100 N Michigan St a legitimate charity?
First Source Foundation C/O 1 St Source Bank 100 N Michigan St (EIN: 356034211) is a registered tax-exempt nonprofit based in Indiana. It has 10 years of IRS 990 filings on record. Total revenue: $11.4M. No red flags identified. Financial health grade: A.
How does First Source Foundation C/O 1 St Source Bank 100 N Michigan St spend its money?
First Source Foundation C/O 1 St Source Bank 100 N Michigan St reported $11.4M in total revenue in IRS 990 filings. 10 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to First Source Foundation C/O 1 St Source Bank 100 N Michigan St tax-deductible?
First Source Foundation C/O 1 St Source Bank 100 N Michigan St is registered as a tax-exempt nonprofit (EIN: 356034211). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is First Source Foundation C/O 1 St Source Bank 100 N Michigan St located?
First Source Foundation C/O 1 St Source Bank 100 N Michigan St is headquartered in South Bend, Indiana and files with the IRS under EIN 356034211.
How many years of IRS 990 filings does First Source Foundation C/O 1 St Source Bank 100 N Michigan St have?
First Source Foundation C/O 1 St Source Bank 100 N Michigan St has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $11.4M in total revenue.
Filing History
IRS 990 filing history for First Source Foundation C/O 1 St Source Bank 100 N Michigan St showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), First Source Foundation C/O 1 St Source Bank 100 N Michigan St's revenue has grown by 1763.5%, moving from $160K to $3.0M. Total assets increased by 272.2% over the same period, from $9.0M to $33.6M. Total functional expenses rose by 155.9%, from $896K to $2.3M. In its most recent filing year (2023), First Source Foundation C/O 1 St Source Bank 100 N Michigan St reported a surplus of $685K, with revenue exceeding expenses. The organization holds $1 in liabilities against $33.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $33.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.0M | $2.3M | $33.6M | $1 | — | View 990 |
| 2022 | $2.3M | $2.4M | $32.9M | $1 | — | View 990 |
| 2021 | $5.4M | $2.2M | $33.0M | $1 | — | View 990 |
| 2020 | $2.7M | $2.0M | $29.8M | $1 | — | View 990 |
| 2019 | $1.5M | $1.9M | $29.1M | $1 | — | View 990 |
| 2015 | $7.1M | $1.6M | $16.7M | $0 | — | View 990 |
| 2014 | $3.0M | $1.2M | $10.5M | $0 | — | View 990 |
| 2013 | $716K | $1.2M | $8.8M | $0 | — | View 990 |
| 2012 | $1.2M | $935K | $9.2M | $0 | — | View 990 |
| 2011 | $160K | $896K | $9.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.0M, expenses of $2.3M, and assets of $33.6M (revenue +27.5% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.4M, and assets of $32.9M (revenue -56.8% year-over-year).
- 2021: Revenue of $5.4M, expenses of $2.2M, and assets of $33.0M (revenue +100.9% year-over-year).
- 2020: Revenue of $2.7M, expenses of $2.0M, and assets of $29.8M (revenue +75.2% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.9M, and assets of $29.1M (revenue -78.3% year-over-year).
- 2015: Revenue of $7.1M, expenses of $1.6M, and assets of $16.7M (revenue +138.5% year-over-year).
- 2014: Revenue of $3.0M, expenses of $1.2M, and assets of $10.5M (revenue +313.5% year-over-year).
- 2013: Revenue of $716K, expenses of $1.2M, and assets of $8.8M (revenue -38.8% year-over-year).
- 2012: Revenue of $1.2M, expenses of $935K, and assets of $9.2M (revenue +633.2% year-over-year).
- 2011: Revenue of $160K, expenses of $896K, and assets of $9.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for First Source Foundation C/O 1 St Source Bank 100 N Michigan St:
Data Sources and Methodology
This transparency report for First Source Foundation C/O 1 St Source Bank 100 N Michigan St is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.