First Source Foundation C/o 1st Source Bank 100 N Michigan St
501(c)(3) Donations tax-deductible
Only null% goes to programs Strong reserves Declining revenue
First Source Foundation C/o 1st Source Bank 100 N Michigan St is a 501(c)(3) organization based in South Bend, Indiana, registered in 1954, with $3,921,568 in FY2024 revenue. CharityIndex grades it C+.
Po Box 1602, South Bend, IN, 46634 EIN 35-6034211 Since 1954
Revenue (FY2024)
$3.9M
▲ 31.7% vs prior year
Expenses (FY2024)
$2.3M
Net assets
$35.2M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for First Source Foundation C/o 1st Source Bank 100 N Michigan St— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating186 mo reserves · +42% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For First Source Foundation C/o 1st Source Bank 100 N Michigan St: 186 mo reserves · +42% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for First Source Foundation C/o 1st Source Bank 100 N Michigan St— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For First Source Foundation C/o 1st Source Bank 100 N Michigan St: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
- Address
- Po Box 1602, South Bend, IN, 46634
- City
- South Bend
- State
- Indiana
- Category
- —
- Subcategory
- —
Financial trends
Revenue grew from $1.5M (FY2019) to $3.9M (FY2024) across 6 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $35.2M
Operating margin
41.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$35.2M
Total liabilities
$0
Net assets
$35.2M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $3,921,568▲31.7% | $2,277,199▼0.6% | $35,235,229▲4.9% | $35,235,229▲4.9% | 990PF |
| 2023 | $2,976,578▲27.5% | $2,291,798▼4.8% | $33,597,071▲2.1% | $33,597,071▲2.1% | 990PF |
| 2022 | $2,334,993▼56.8% | $2,406,487▲9.9% | $32,901,547▼0.2% | $32,901,547▼0.2% | 990PF |
| 2021 | $5,399,779▲101% | $2,189,584▲10.5% | $32,972,907▲10.8% | $32,972,907▲10.8% | 990PF |
| 2020 | $2,687,641▲75.2% | $1,981,961▲5.6% | $29,771,285▲2.3% | $29,771,285▲2.3% | 990PF |
| 2019 | $1,534,350 | $1,877,655 | $29,090,432 | $29,090,432 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Frequently asked questions
- Is First Source Foundation C/o 1st Source Bank 100 N Michigan St a legitimate nonprofit?
- Yes. First Source Foundation C/o 1st Source Bank 100 N Michigan St is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 35-6034211, based in South Bend, Indiana. Donations are tax-deductible.
- What is First Source Foundation C/o 1st Source Bank 100 N Michigan St's EIN?
- First Source Foundation C/o 1st Source Bank 100 N Michigan St's Employer Identification Number (EIN) is 35-6034211.
- How much revenue does First Source Foundation C/o 1st Source Bank 100 N Michigan St report?
- First Source Foundation C/o 1st Source Bank 100 N Michigan St reported $3,921,568 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does First Source Foundation C/o 1st Source Bank 100 N Michigan St have?
- CharityIndex grades First Source Foundation C/o 1st Source Bank 100 N Michigan St C+, based on financial health (reserves and operating margin).
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Data for First Source Foundation C/o 1st Source Bank 100 N Michigan St (EIN 35-6034211) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.