Foundation Source 002087 Inc
- Assets
- $877.5k
- Revenue
- $21.5k
- Investments
- $796.4k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- Data as of
- 12/2023
- EIN
- 86-2725801
Organization Overview
Foundation Source 002087 Inc is located in Wilmington, DE. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Source 002087 Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Foundation Source 002087 Inc generated $21.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (72.5%) each year. All expenses for the organization totaled $294.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Foundation Source 002087 Inc has awarded 37 individual grants totaling $481,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isabella Florence Heffernan Dir | 1 | $0 | |
John W Heffernan Dir, Sec, Treas, Co- Pres | 1 | $0 | |
Olivia Margaret Heffernan Dir | 1 | $0 | |
Sofia Grace Heffernan Dir | 1 | $0 | |
Margaret L Palm Co- Pres, Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $850 |
| Interest on Savings | $510 |
| Dividends & Interest | $23,393 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,302 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,451 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,978 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,019 |
| Printing and publications | $0 |
| Other expenses | $16,035 |
| Total operating and administrative expenses | $22,873 |
| Contributions, gifts, grants paid | $271,500 |
| Total expenses and disbursements | $294,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $81,107 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $877,544 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Foundation Source 002087 Inc has awarded $271,500 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ADVOCACY PROJECT PURPOSE: GENERAL & UNRESTRICTED | $12,000 |
AFRICAN AMERICAN POLICY FORUM PURPOSE: CRT SUMMER SCHOOL | $2,500 |
CREATIVE VISIONS FOUNDATION PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
DISABILITY RIGHTS INTERNATIONAL INC PURPOSE: GENERAL & UNRESTRICTED | $30,000 |
EVERY WOMEN TREATY INC PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
FILM INDEPENDENT INC PURPOSE: FILMMAKER BORN IN PRISON SEARCHING FOR MOM | $12,000 |