Nonprofit · EIN 86-2109227
FOUNDATION SOURCE 002077 INC
Tax-exempt · WILMINGTON, DE 19809
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $242,417 | $268,797 | -$26,380 | $4,660,194 | $0 | $4,660,194 |
| December 31, 2023 | 990-PF | $96,879 | $254,044 | -$157,165 | $4,686,574 | $0 | $4,686,574 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Dividends
- $79,067
- Interest
- $1,209
- Net gain from sales of assets
- $162,141
Expenses
- Grants and similar amounts paid
- $216,500
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $238,206
- Excise tax on investment income
- $2,957
Balance sheet and other
- Total assets, start of year
- $4,686,574
- Total assets, end of year
- $4,660,194
- Total liabilities, end of year
- $0
- Net assets, end of year
- $4,660,194
- Fair market value of assets
- $5,354,409
- Qualifying distributions
- $238,206
- Net investment income
- $242,417
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kristen V Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Larry J Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres, Sec, Treas | 1 | $0 |
| LeeAnn E Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kristen V Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Larry J Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres, Sec, Treas | 1 | $0 |
| LeeAnn E Merlo Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
Address and contacts
- Address (IRS master file)
- FOUNDATION SOURCE 501 SILVERSIDE RD, WILMINGTON, DE 19809-0000
- In care of
- % FOUNDATION SOURCE
- Signed the 990-PF
- Larry Merlo, President
- Phone
- (800) 839-1754
- Return prepared by
- Foundation Source
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 86-2109227
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $4,731,097
- Income (IRS master file)
- $1,202,670
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $242,417 | $268,797 | $4,660,194 | XML |
| 990-PF | December 2023 | $96,879 | $254,044 | $4,686,574 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-2109227).
Questions about FOUNDATION SOURCE 002077 INC
- What is the EIN of FOUNDATION SOURCE 002077 INC?
- The employer identification number (EIN) of FOUNDATION SOURCE 002077 INC is 86-2109227.
- Is FOUNDATION SOURCE 002077 INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to FOUNDATION SOURCE 002077 INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does FOUNDATION SOURCE 002077 INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of FOUNDATION SOURCE 002077 INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION SOURCE 002077 INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of FOUNDATION SOURCE 002077 INC?
- The 990-PF for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does FOUNDATION SOURCE 002077 INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $242,417, expenses of $268,797 and total assets of $4,660,194 at year end.
Other nonprofits in WILMINGTON
- SHELBY CULLOM DAVIS CHARITABLE FUND INC EIN 20-3734688 · last filed 990-PF for 2024
- FEIGIN FOUNDATION EIN 33-6443165 · last filed 990-PF for 2025
- SMILOW FOUNDATION INC EIN 92-1388481 · last filed 990-PF for 2024
- AMERICAN GIFT FUND EIN 51-6506426 · last filed 990 for 2024
- JOHN & TAMI MARICK FOUNDATION INC EIN 46-2345457 · last filed 990-PF for 2024
- ESSEX AVENUE FOUNDATION EIN 85-1891431 · last filed 990-PF for 2024
- THE GRATEFUL LIVES FOUNDATION EIN 32-6402383 · last filed 990 for 2024
- DELAWARE COMMUNITY FOUNDATION EIN 22-2804785 · last filed 990 for 2025
All nonprofits in WILMINGTON · Delaware · Philanthropy, voluntarism and grantmaking foundations