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Nonprofiteer
← SOURCE MN INC

Form 990 for tax year 2022

Filed by SOURCE MN INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 16 May 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$3,130,830
Total expenses
$3,016,305
Contributions and grants received
$3,222,926
Grants paid
$2,085,149
Program service revenue
$0
Investment income
$9,860
Other revenue
-$101,956
Total assets, end of year
$3,018,403
Total liabilities, end of year
$527,149
Net assets or fund balances, end of year
$2,491,254
Program services expenses (Part IX)
$2,801,306
Management and general expenses
$214,999
Fundraising expenses
$0
Program service expenses (Part III)
$2,801,306

Program services were 92.9% 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

    $70,722

  • 1e · Government grants (contributions)

    $136,769

  • 1f · All other contributions, gifts and grants

    $3,015,435

  • 1g · Noncash contributions included above

    $2,090,466

  • 3 · Investment income

    total $9,860 · related or exempt $9,860

  • 6a · Gross rents

    real property $118,988

  • 6b · Less rental expenses

    real property $226,411

  • 6c · Rental income or loss

    real property -$107,423

  • 6d · Net rental income or loss

    total -$107,423 · related or exempt -$107,423

  • 8a · Fundraising events: gross income

    $35,849

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

    $70,722

  • 8b · Fundraising events: direct expenses

    $38,006

  • 8c · Net income from fundraising events

    total -$2,157 · excluded -$2,157

  • 11a · Other revenue: OTHER INCOME

    total $7,624 · related or exempt $7,624

  • 11e · Other revenue, total

    $7,624

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,085,149 · program services $2,085,149

  • 5 · Compensation of officers, directors and key employees

    total $94,000 · program services $61,375 · management and general $32,625

  • 7 · Other salaries and wages

    total $344,896 · program services $214,654 · management and general $130,242

  • 9 · Other employee benefits

    total $38,684 · program services $38,684

  • 10 · Payroll taxes

    total $32,686 · program services $21,024 · management and general $11,662

  • 11b · Fees: legal

    total $9,092 · management and general $9,092

  • 11c · Fees: accounting

    total $20,185 · management and general $20,185

  • 11g · Fees: other

    total $14,880 · program services $14,880

  • 13 · Office expenses

    total $55,992 · program services $44,799 · management and general $11,193

  • 14 · Information technology

    total $7,046 · program services $7,046

  • 16 · Occupancy

    total $5,109 · program services $5,109

  • 17 · Travel

    total $18,936 · program services $18,936

  • 22 · Depreciation, depletion and amortization

    total $4,033 · program services $4,033

  • 23 · Insurance

    total $8,689 · program services $8,689

  • 24a · Other expenses: FOOD PURCHASES

    total $152,221 · program services $152,221

  • 24b · Other expenses: COMMUNITY OUTREACH

    total $75,699 · program services $75,699

  • 24c · Other expenses: BENEVOLENCE

    total $24,397 · program services $24,397

  • 24d · Other expenses: MISCELLANEOUS

    total $23,608 · program services $23,608

  • 24e · All other expenses

    total $1,003 · program services $1,003

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,740 · end of year $94,236

  • 2 · Savings and temporary cash investments

    beginning of year $1,793,482 · end of year $173,040

  • 3 · Pledges and grants receivable

    end of year $40,000

  • 4 · Accounts receivable

    beginning of year $6,529 · end of year $19,539

  • 9 · Prepaid expenses and deferred charges

    end of year $21,975

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

    $2,190,229

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

    $733,592

  • 10c · Land, buildings and equipment, net

    beginning of year $1,481,877 · end of year $1,456,637

  • 11 · Investments: publicly traded securities

    end of year $1,212,976

  • 12 · Investments: other securities

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,919 · end of year $77,111

  • 19 · Deferred revenue

    end of year $5,775

  • 22 · Loans and payables to officers and key people

    beginning of year $469,761 · end of year $444,263

  • 23 · Secured mortgages and notes payable

    beginning of year $439,219

  • 27 · Net assets without donor restrictions

    beginning of year $2,259,047 · end of year $2,344,309

  • 28 · Net assets with donor restrictions

    beginning of year $117,682 · end of year $146,945

Mission and programs · 2022

Mission

THROUGH URBAN OUTREACH AND ANTI-TRAFFICKING EFFORS, 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 $2,801,306 · Grants $2,085,149

As filed on the 2022 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
    $36,668
    From this org
    $35,600
    From related orgs
    $0
    Other
    $1,068
    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
    $113,437
    From this org
    $58,400
    From related orgs
    $0
    Other
    $55,037
    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
2022
Filed
27 March 2024
IRS schema version
2022v5.0
Source object
202430989349300818

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