1ST Source Bank Foundation Inc XXX-XX-XXXX
1ST Source Bank Foundation Inc XXX-XX-XXXX is a private foundation based in South Bend, Indiana. It supports charitable organizations and community efforts, with its stated mission focused on strengthening the social, economic, and cultural fabric of its communities and improving quality of life.
1ST Source Bank Foundation Inc XXX-XX-XXXX at a glance
In short: 1ST Source Bank Foundation Inc XXX-XX-XXXX gave $2.2M across 96 grants in 2025 (avg $23K), mostly in Indiana. 29% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $2,209,262
- +10.2% vs 2024
- Grants made (2025)
- 96
- +3.2% vs 2024
- Average grant
- $23,013
- +6.8% vs 2024
- Median grant
- $10,000
- Total assets
- $36,533,907
- +3.7% vs 2024
- New grantees (estimate)
- 29% first-time grantees (28 of 96, 2025)
- Primary geography
- Indiana (91% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to 1ST Source Bank Foundation Inc XXX-XX-XXXX
- Accepts unsolicited proposals
- No
- Contact
Mailing address: PO Box 1602, South Bend, IN 46634
Phone: (574) 235-2952
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from 1ST Source Bank Foundation Inc XXX-XX-XXXX
Who 1ST Source Bank Foundation Inc XXX-XX-XXXX funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Michiana Public Broadcasting Corp ($200K). Together the top 10 received $988K.
Grant Size Distribution
449 grants across all recorded years
The most common grant size was under $50K: 387 grants of 449 (86%).
Geographic Focus
Where this funder awards grants
In 2025, 91% of grant dollars went to recipients in Indiana, 7% to recipients in Michigan, and 2% to recipients in Florida.
Grant Distribution by State
Share of 2025 grant dollars across all 96 itemized grants.
Cities
Is 1ST Source Bank Foundation Inc XXX-XX-XXXX open to new grantees?
29%
first-time grantees, 2025
In 2025, 28 of 96 grantees (29%) were first-time recipients. First grants averaged $28K; repeat grants $21K. How we count
Medians: $19K first-time, $8K repeat.
- 57% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+0%). Method
- In 2025 it paid out 88% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $1.8M (2020) to $2.2M (2025). In 2025 it made 96 grants totaling $2.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Michiana Public Broadcasting Corp South Bend, IN | Support | $200,000 |
| Community Foundation of St Joe County South Bend, IN | Support | $138,825 |
| The History Museum South Bend, IN | Support | $111,000 |
| Junior Achievement of Northern Indiana Fort Wayne, IN | Charitable Contribution | $100,000 |
| South Bend-Elkhart Regional FDN Inc South Bend, IN | Support | $100,000 |
| Grace College Winona Lake, IN | Support | $83,334 |
| Southwestern Michigan College Dowagiac, MI | Charitable Contribution | $80,000 |
| Mishawaka Parks & Recreation Foundation Mishawaka, IN | Support | $75,000 |
| Porter County Agricultural Society Valparaiso, IN | Support | $50,000 |
| Heartland Art Center Plymouth, IN | Support | $50,000 |
Ready to take the next step with 1ST Source Bank Foundation Inc XXX-XX-XXXX?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $36,533,907 | $3,800,064 | $2,488,250 | $2,209,262 | 96 | $2,209,262 | $2,624,979 | $2,504,291 |
| 2024 | $35,235,229 | $3,921,568 | $2,277,199 | $2,004,878 | 93 | $2,004,878 | $2,815,610 | $2,204,261 |
| 2023 | $33,597,071 | $2,976,578 | $2,291,798 | $2,043,188 | 86 | $2,043,188 | $2,938,263 | $2,009,447 |
| 2022 | $32,901,547 | $2,334,993 | $2,406,487 | $2,203,696 | 92 | $2,203,696 | $2,332,893 | $2,026,424 |
| 2021 | $32,972,907 | $5,399,779 | $2,189,584 | $1,981,900 | 82 | $1,981,900 | $2,397,879 | $2,253,308 |
| 2020 | $29,771,285 | $2,687,641 | $1,981,961 | $1,807,976 | 83 | — | $2,685,741 | $1,995,553 |
Under IRS private-foundation payout rules, 1ST Source Bank Foundation Inc XXX-XX-XXXX reported a distributable amount of $2.5M for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s mission is to enhance and strengthen its communities through financial resources that improve quality of life for people who live, work, raise families, and build businesses there. Its stated funding areas include social welfare and human services, education, arts and culture, and economic development. The foundation says it supports organizations that have established and demonstrated their ability to make a fundamental difference, promotes local development and sound business purposes, and serves as a good corporate citizen.
Its 2025 grantees illustrate a range of activities. Michiana Public Broadcasting Corporation describes WNIT as community-owned public media that aims to inspire, inform, educate, entertain, and unify the communities it serves. St. Margaret’s House describes its work as welcoming women and children experiencing economic poverty and providing meals, assistance with immediate needs, and support. ETHOS Inc. describes its work as serving communities as STEM experts and leaders in innovation and education.
Grantmaking
In filing year 2025, the foundation reported 96 grants totaling $2,209,262. Grants ranged from $45 to $200,000, with a median of $10,000. The largest awards included $200,000 to Michiana Public Broadcasting Corp.; $138,825 to Community Foundation of St Joe County; $111,000 to The History Museum; and $100,000 each to Junior Achievement of Northern Indiana and South Bend-Elkhart Regional FDN Inc.
Other 2025 awards included $83,334 to Grace College, $80,000 to Southwestern Michigan College, $75,000 to Mishawaka Parks & Recreation Foundation, and $50,000 each to Porter County Agricultural Society, Heartland Art Center, Bashor Children’s Home, and St Margaret’s House. Additional reported recipients include United Way of St Joseph County ($49,000), Beacon Health Foundation ($45,000), ETHOS Inc. ($40,000), Lake Michigan College Foundation ($33,334), and Erin’s House for Grieving Children ($33,000).
The foundation’s grant program description says it supports established 501(c)(3) organizations and requests financial documentation, including a recent Form 990. It says applicants will be notified of decisions within 30 days after the spring or fall Foundation Board of Directors’ meeting. How to apply: The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Christopher J Murphy III as president, Andrea Short as vice president, Kevin Murphy as treasurer, and Ann Rathburn-Lacopo as secretary. It lists John Affleck-Graves, Isaac Torres, Todd Schurz, and Ron Zeltwanger as board members, and 1st Source Bank as agent.
1ST Source Bank Foundation Inc XXX-XX-XXXX is led by Christopher J. Murphy III, President on every filing since 2020; 4 of 9 officers listed in 2025 are compensated.
Officers on the 2025 filing
Christopher J. Murphy III
President
On filings since 2020
No compensation reported
1st Source Bank
Agent
Trustee → Agent & Trustee, 2022
Agent & Trustee → Agent, 2025
On filings since 2020
$130K (2020) → $173K (2025)
Isaac Torres
Board Member
On filings since 2022
$5K (2023) → $5K (2025)
John Affleck-Graves
Board Member
On filings since 2022
$5K (2022) → $3K (2025)
Todd Schurz
Board Member
On filings since 2022
$5K (2022) → $5K (2025)
Andrea Short
Vice President
On filings since 2020
No compensation reported
Kevin Murphy
Treasurer
On filings since 2020
No compensation reported
Ron Zeltwanger
Board Member
Director → Board Member, 2022
On filings since 2020
No compensation reported
Ann Rathburn-Lacopo
Secretary
On filings since 2022
No compensation reported
Former officers (3)
- Former: James Seitz (2020–2021) — Director
- Former: John Affleck Graves (2020–2021) — Director
- Former: John Phair (2020–2021) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $173K, to 1st Source Bank (Agent). 4 officers or directors reported compensation on that filing.
Frequently asked questions about 1ST Source Bank Foundation Inc XXX-XX-XXXX
How much does 1ST Source Bank Foundation Inc XXX-XX-XXXX give each year?
1ST Source Bank Foundation Inc XXX-XX-XXXX gave $2.2M across 96 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $2.0M across 93 grants.
What is 1ST Source Bank Foundation Inc XXX-XX-XXXX's typical grant size?
1ST Source Bank Foundation Inc XXX-XX-XXXX's median grant in 2025 was $10,000, and its average grant was $23,013, across 96 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from 1ST Source Bank Foundation Inc XXX-XX-XXXX that year got $28K on average.
Where does 1ST Source Bank Foundation Inc XXX-XX-XXXX give grants?
1ST Source Bank Foundation Inc XXX-XX-XXXX gives mostly in Indiana: 91% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Michigan (7%). The most frequent recipient cities were South Bend, IN (29 grants), Fort Wayne, IN (11 grants), Valparaiso, IN (8 grants) and Plymouth, IN (7 grants).
Does 1ST Source Bank Foundation Inc XXX-XX-XXXX give general operating support?
Occasionally: 2% of 1ST Source Bank Foundation Inc XXX-XX-XXXX's 2025 grants with a stated purpose (2 of 96) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Support" (82 grants).
Who are 1ST Source Bank Foundation Inc XXX-XX-XXXX's largest grantees?
1ST Source Bank Foundation Inc XXX-XX-XXXX's largest 2025 grantees include Michiana Public Broadcasting Corp ($200,000), Community Foundation of St Joe County ($138,825) and The History Museum ($111,000), according to its 2025 IRS Form 990-PF. Together they received 20% of its itemized 2025 grant dollars.
How large is 1ST Source Bank Foundation Inc XXX-XX-XXXX?
1ST Source Bank Foundation Inc XXX-XX-XXXX reported $36.5M in total assets on its 2025 IRS Form 990-PF. It paid out $2.2M in qualifying distributions that year, against a required minimum of $2.5M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does 1ST Source Bank Foundation Inc XXX-XX-XXXX fund?
The foundation’s mission is to enhance and strengthen its communities through financial resources that improve quality of life for people who live, work, raise families, and build businesses there. See mission & focus areas ↑
How do I apply for a grant from 1ST Source Bank Foundation Inc XXX-XX-XXXX?
1ST Source Bank Foundation Inc XXX-XX-XXXX does not accept unsolicited proposals, according to Grantable's research on its published guidelines.
What is 1ST Source Bank Foundation Inc XXX-XX-XXXX's EIN?
1ST Source Bank Foundation Inc XXX-XX-XXXX's EIN (Employer Identification Number) is 35-6034211. IRS Form 990 filing data is available on this page for 2020–2025.
Does 1ST Source Bank Foundation Inc XXX-XX-XXXX accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 18, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 21, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 13, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS June 21, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS October 20, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
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Cite this profile
Grantable. (2026). 1ST Source Bank Foundation Inc XXX-XX-XXXX funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/1st-source-bank-foundation-inc-xxx-xx-xxxx-morg_eeeaae3eb91c4866ac7411c7a0e178c8
BibTeX
@misc{grantable_356034211_2026,
author = {{Grantable}},
title = {{1ST Source Bank Foundation Inc XXX-XX-XXXX funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/1st-source-bank-foundation-inc-xxx-xx-xxxx-morg_eeeaae3eb91c4866ac7411c7a0e178c8},
note = {Accessed 2026-10-17. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from 1ST Source Bank Foundation Inc XXX-XX-XXXX's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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