1ST Source Bank Foundation Inc XXX-XX-XXXX
1st Source Foundation is a private foundation based in South Bend, Indiana, operating as a corporation. The foundation is affiliated with 1st Source Bank and serves as a philanthropic vehicle for supporting nonprofit organizations in the communities where the bank operates.
Key facts about 1ST Source Bank Foundation Inc XXX-XX-XXXX
- EIN
- 35-6034211
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $2,209,262
- Grants made (2025)
- 96
- Average grant
- $23,013
- Median grant
- $10,000
- New grantees (estimate)
- 30% first-time grantees (29 of 96, 2025)
- Primary geography
- Indiana (91% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who 1ST Source Bank Foundation Inc XXX-XX-XXXX funds
By grant dollars, the top recipient states for 1ST Source Bank Foundation Inc XXX-XX-XXXX's 96 itemized 2025 grants were Indiana (91%) and 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). 2% of grants with a stated purpose were for general or operating support. Recurring purposes include "Support" (82 grants).
Is 1ST Source Bank Foundation Inc XXX-XX-XXXX open to new grantees?
30%
first-time grantees, 2025
In 2025, 29 of 96 grantees (30%) were first-time recipients. First grants averaged $30K; repeat grants $20K. How we count
Medians: $20K first-time, $8K repeat.
- 57% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (+0%). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with 1ST Source Bank Foundation Inc XXX-XX-XXXX
- How to evaluate 1ST Source Bank Foundation Inc XXX-XX-XXXX as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$2.2M
+10.2% YoY
Grant Count
96
+3.2% YoY
Avg Grant Size
$23K
+6.8% YoY
Mission & Focus Areas
1st Source Foundation supports nonprofit organizations in the communities served by 1st Source Bank in northern Indiana and southwestern Michigan. The foundation's areas of interest include:
- Social welfare and human services
- Education
- Culture and the arts
- Community and economic development
The foundation demonstrates a preference for partnering with organizations that have proven themselves successful in achieving their mission.
Grantmaking
The foundation makes contributions to preselected charitable organizations. Based on recent activity:
Grant Range
** $10,000
Average Grant
** $24,000
Ready to take the next step with 1ST Source Bank Foundation Inc XXX-XX-XXXX?
Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Indiana and Michigan, with particular emphasis on northern Indiana and southwestern Michigan communities served by 1st Source Bank.
Grant Distribution by State
Share of all 96 itemized 2025 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
- Total assets: $35.2 million (2024)
- Annual income: $11.4 million
- Asset growth: Increased from $9 million in 2011 to $35.2 million in 2024
- Tax status: Contributions are tax deductible
- IRS ruling year: 1954
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Data update history
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)
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
449 grants across all recorded years
Open Grants
1 open opportunity from 1ST Source Bank Foundation Inc XXX-XX-XXXX
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include Michiana Public Broadcasting Corp ($200,000), Community Foundation of St Joe County ($138,825), The History Museum ($111,000).
| 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 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is governed by 9 officers and trustees, with 1st Source Bank serving as the principal officer.
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Christopher J Murphy III | President | — | — |
| Andrea Short | Vice President | — | — |
| Kevin Murphy | Treasurer | — | — |
| John Affleck-Graves | Board Member | — | $2,500 |
| Isaac Torres | Board Member | — | $5,000 |
| Todd Schurz | Board Member | — | $5,000 |
| Ron Zeltwanger | Board Member | — | — |
| 1st Source Bank | Agent | — | $172,735 |
| Ann Rathburn-Lacopo | Secretary | — | — |
Recent News & Activity
Recent developments and announcements
The foundation has been actively awarding grants to support community initiatives, including funding for health and wellness programs, homelessness prevention, affordable housing, youth development, and human services across its service region.
1st Source Foundation awards $100,000 grant to support Duneland YMCA\u2019\Frequently Asked Questions
What does 1ST Source Bank Foundation Inc XXX-XX-XXXX fund?
1st Source Foundation supports nonprofit organizations in the communities served by 1st Source Bank in northern Indiana and southwestern Michigan. The foundation's areas of interest include: • Social welfare and human services • Education • Culture and the arts • Community and economic development The foundation demonstrates a preference for partnering with organizations that have proven themselves successful in achieving their mission.
How do I apply for a grant from 1ST Source Bank Foundation Inc XXX-XX-XXXX?
The foundation makes contributions to preselected charitable organizations. Based on recent activity: • **Total grants awarded:** 174 grants totaling $4.2 million • **Median grant size:** $10,000 • **Average grant size:** $24,000 • **Grant range:** $135 to $250,000 • **Annual distribution:** Between $2 million and $2.2 million annually (2021-2022) • **Organizations supported:** 138 unique organizations Recent grants have supported initiatives including a $100,000 grant to Duneland YMCA for a He…
Where does 1ST Source Bank Foundation Inc XXX-XX-XXXX make grants?
The foundation primarily funds organizations in Indiana and Michigan, with particular emphasis on northern Indiana and southwestern Michigan communities served by 1st Source Bank.
What size grants does 1ST Source Bank Foundation Inc XXX-XX-XXXX award?
In 2025, 1ST Source Bank Foundation Inc XXX-XX-XXXX awarded 96 grants totaling $2.2M — an average of about $23K per grant, based on its IRS Form 990 filings.
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.
Explore Open Grants
Browse active grant opportunities in 1ST Source Bank Foundation Inc XXX-XX-XXXX's focus areas in our free grants database
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.