Our founders understood and appreciated the flexibility, versatility and control offered by a private foundation, but wanted to avoid its pitfalls—namely the often-complex process of setting up and running the foundation along with the need for staff and infrastructure. In searching for a company dedicated to the professional management of private foundations, they only found antiquated software designed for larger, professionally staffed foundations. Out of this experience, Foundation Source was born in 2000.
Foundation Source made its market debut in December 2002, offering donors and their families something truly revolutionary: an integrated suite of back-office, online and advisory services, provided on an outsourced basis, and designed to thoroughly automate and simplify foundation management. In 2007, Foundation Source was honored as Philanthropic Group of the Year by Private Asset Management magazine, acknowledging the company’s innovative and highly effective approach to running private foundations.
Today, Foundation Source works with more than 1,100 private foundations coast to coast with assets ranging from $250,000 to $500 million. Last year alone, the company distributed more than $300 million in grants on behalf of its clients to nearly 10,000 charities worldwide. And since inception, Foundation Source has distributed more than 76,000 grants, worth over $1.2 billion in charitable assistance.
Over the years, Foundation Source has continually expanded its services to meet the needs of its foundation clients. Our core offering of back-office, online and advisory services provides everything a foundation needs, day one. And as the foundation evolves over time, and the family’s grantmaking becomes more complex, our full complement of advanced services grow with them.
Foundation Source works with the nation’s top wealth advisory firms, including Atlantic Trust, JPMorgan Private Client Services, Morgan Stanley Private Wealth Management, Northern Trust, TD Ameritrade, UBS, Wilmington Trust and others, as well as leading regional firms. The company also works closely with legal and accounting firms to help keep their clients’ foundations running smoothly and compliantly.
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"All my clients are nonprofits, including private foundations of all sizes and types. Foundation Source is an excellent fit for small and medium-sized foundations that either don’t have a large staff, or would prefer to have their staff focus on program needs rather than administration. I have confidence that my clients who use Foundation Source are conducting their basic affairs properly, are making legally compliant grants, and are filing properly completed tax returns. While Foundation Source does not give legal advice, it is very good at bringing legal issues to the attention of its clients, so they can seek proper counsel."Robert Wexler Adler & Colvin