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Nonprofiteer
← SOURCE MN INC

Form 990 for tax year 2023

Filed by SOURCE MN INC.

Totals

Total revenue
$3,948,603
Total expenses
$3,910,742
Contributions and grants received
$3,865,852
Grants paid
$2,703,376
Program service revenue
$0
Investment income
$42,350
Other revenue
$40,401
Total assets, end of year
$3,039,031
Total liabilities, end of year
$490,140
Net assets or fund balances, end of year
$2,548,891
Program services expenses (Part IX)
$3,657,034
Management and general expenses
$253,708
Fundraising expenses
$0
Program service expenses (Part III)
$3,657,034

Program services were 93.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $41,252

  • 1e · Government grants (contributions)

    $56,031

  • 1f · All other contributions, gifts and grants

    $3,768,569

  • 1g · Noncash contributions included above

    $2,703,375

  • 3 · Investment income

    total $42,350 · excluded $42,350

  • 6a · Gross rents

    real property $151,300

  • 6b · Less rental expenses

    real property $111,065

  • 6c · Rental income or loss

    real property $40,235

  • 6d · Net rental income or loss

    total $40,235 · related or exempt $40,235

  • 8a · Fundraising events: gross income

    $27,335

  • 8a · Fundraising events: contributions included on line 1c

    $41,252

  • 8b · Fundraising events: direct expenses

    $27,441

  • 8c · Net income from fundraising events

    total -$106 · excluded -$106

  • 11a · Other revenue: OTHER

    total $272 · related or exempt $272

  • 11e · Other revenue, total

    $272

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,703,376 · program services $2,703,376

  • 5 · Compensation of officers, directors and key employees

    total $133,000 · program services $90,041 · management and general $42,959

  • 7 · Other salaries and wages

    total $327,330 · program services $221,602 · management and general $105,728

  • 9 · Other employee benefits

    total $132,152 · program services $89,467 · management and general $42,685

  • 10 · Payroll taxes

    total $44,104 · program services $29,858 · management and general $14,246

  • 11b · Fees: legal

    total $12,150 · program services $4,010 · management and general $8,140

  • 11c · Fees: accounting

    total $18,392 · program services $6,069 · management and general $12,323

  • 11g · Fees: other

    total $14,599 · program services $4,818 · management and general $9,781

  • 13 · Office expenses

    total $89,232 · program services $71,386 · management and general $17,846

  • 17 · Travel

    total $32,024 · program services $32,024

  • 19 · Conferences, conventions and meetings

    total $15,990 · program services $15,990

  • 20 · Interest

    total $34,103 · program services $34,103

  • 22 · Depreciation, depletion and amortization

    total $57,297 · program services $57,297

  • 23 · Insurance

    total $28,581 · program services $28,581

  • 24a · Other expenses: FOOD PURCHASES

    total $169,037 · program services $169,037

  • 24b · Other expenses: COMMUNITY OUTREACH

    total $99,375 · program services $99,375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $94,236 · end of year $144,649

  • 2 · Savings and temporary cash investments

    beginning of year $173,040 · end of year $177,990

  • 3 · Pledges and grants receivable

    beginning of year $40,000

  • 4 · Accounts receivable

    beginning of year $19,539 · end of year $922

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,975

  • 10a · Land, buildings and equipment: cost or other basis

    $2,235,715

  • 10b · Land, buildings and equipment: accumulated depreciation

    $790,889

  • 10c · Land, buildings and equipment, net

    beginning of year $1,456,637 · end of year $1,444,826

  • 11 · Investments: publicly traded securities

    beginning of year $1,212,976 · end of year $1,270,644

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,111 · end of year $71,461

  • 19 · Deferred revenue

    beginning of year $5,775

  • 22 · Loans and payables to officers and key people

    beginning of year $444,263 · end of year $416,624

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,055

  • 27 · Net assets without donor restrictions

    beginning of year $2,344,309 · end of year $2,424,063

  • 28 · Net assets with donor restrictions

    beginning of year $146,945 · end of year $124,828

Mission and programs · 2023

Mission

THROUGH URBAN OUTREACH AND ANTI-TRAFFICKING EFFORTS, SOURCE EMPOWERS THE AT-RISK AND UNREACHED TO MAKE A BREAK FROM THE PAST AND BUILD FOUNDATIONS FOR THE FUTURE.

Activities or mission (Part I)

TO BRING HOPE AND OPPORTUNITY TO THE CITY.

  • THROUGH URBAN OUTREACH AND ANTI-TRAFFICKING EFFORTS, SOURCE EMPOWERS THE AT-RISK AND UNREACHED TO MAKE A BREAK FROM THE PAST AND BUILD FOUNDATIONS FOR THE FUTURE.

    Expenses $3,657,034

As filed on the 2023 return.

Listed in Part VII

  • Greg Hjelle

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David Anderle

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jessica Wohler

    MEMBER AT LARGE

    Total calculated
    $38,000
    From this org
    $38,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Chris Thomas

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Kim Nelson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Peter Wohler

    PRESIDENT

    Total calculated
    $95,000
    From this org
    $57,500
    From related orgs
    $0
    Other
    $37,500
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
2 September 2026
IRS schema version
2023v6.0
Source object
202632459349300333

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