Attorneys

Advantages

  • Enhance your client relationships.
  • Free your time to focus on providing higher-value legal advice.
  • Your clients gain access to efficient and cost-effective private foundation administrative services.
  • We streamline and automate necessary, but unproductive, tasks.

Foundation Source provides professional administration to ensure your clients a well–run, fully compliant foundation.

Supporting Your Clients

More than 67 percent of high net worth individuals want to learn more about private foundations. As an attorney representing those individuals and their families, you are a trusted source of counsel on whether to include a foundation as part of the estate plan. As the leading provider of support services to private foundations nationwide, Foundation Source is here to help you as you assist your clients in achieving their philanthropic goals.

Streamlining the Process

Over the years we have simplified and streamlined the process of establishing foundations, making it possible to start a foundation with as little as $250,000 in assets. This means that even more of your clients can take advantage of the tax benefits of having a private foundation while engaging in charitable activity.

Benefitting You and Your Clients

  • Your clients can focus on what matters to them most: grantmaking and philanthropy, not administration and complex regulations.
  • You maintain the primary relationship with your clients and continue to provide legal advice.
  • We do not custody assets. Clients continue to work with their existing financial advisors.
  • We handle back-office administration and compliance monitoring, state and federal filings, grant disbursements and deliver a customized, private foundation web site for each client.

Highly experienced legal and accounting professionals at Foundation Source created efficient systems and procedures for sound foundation administration. By continually innovating and investing in new technology and operations, we reduce the non-productive hours that you and your associates might otherwise spend on non-legal administrative chores. You can rest assured that experts are overseeing the operation of your clients’ foundations.

Creating a New Foundation

Establishing a new private foundation can be done quickly and inexpensively – in as few as three days.

Of course, you may wish to create the foundation yourself and let Foundation Source manage the back-office and administrative tasks. Alternatively, Foundation Source can work on your behalf — assisting you by setting up the foundation and filing IRS Form 1023.

Regardless of how the foundation is created, Foundation Source is here to serve and support it for as long as required. Our expert team handles annual tax filings, regular compliance updates and required reporting. We make it possible for you to stay focused on providing legal and planning advice, instead of the day-to-day administrative burden of running a foundation.