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Success Stories

In the success stories below, you will find a wide variety of
funders and families facing challenging circumstances –
and how they were resolved with Foundation Source solutions.

Submitted by dschreck on December 23, 2009 - 4:17pm

Edwards Mother Earth Foundation

The Challenge:

Established in 1997, Edwards Mother Earth Foundation now involves 12 family members spanning three generations. Since most board members have limited time and energy to devote to the foundation, Sonia Baker, the founder’s daughter, serves as Executive Director, handling most of the organizing and administration. This includes communicating with the charities, reading and summarizing 30 to 40 grant proposals a year, and handling all due diligence for a growing number of organizations.

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Atlantic Trust

Their Challenge:

Atlantic Trust creates investment, financial, and estate planning strategies customized for the needs of select individuals and families. Julia M. Beisel, a Vice President and the Senior Client Service Manager in charge of Private Wealth Management, has years of experience handling personal investment trusts. However, she readily admits that working with private foundations represented a major challenge.

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Foundation Source Saves Client $75,000 In Foundation Excise Taxes

Background 

An established foundation became a Foundation Source client in early 2006. During a conference call with the foundation president and the CPA who would be preparing the tax return during the transition year, they complained about the hefty excise taxes owed by the foundation that year, nearly $150,000 based on the standard 2% rate.

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Jewish Funders Network

Their Challenge:

The Jewish Funders Network (JFN), an international organization of family foundations, public philanthropies and individual funders, helps form strategic partnerships to advance the quality and growth of philanthropy rooted in Jewish values.

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The Price Family Private Foundation

Their Challenge:

Residing in the Florida Panhandle, the Price family wanted to establish a family foundation to provide direct help to individuals and families within the community who had encountered difficulties in their lives. However, according to Mrs. Jo-Ann Price, attorneys and tax advisors cautioned that IRS regulations governing private foundations made this type of granting complicated and time consuming.

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Murphy Family Foundation

The Challenge:

For years after the establishment of the Murphy Family Foundation in 1986, its administrators had to deal with a time-consuming round robin of paperwork. They would receive written proposals, review them and pass them on to the foundation’s trustees for their review. Only then would the trustees meet to discuss the grant request. Often, the trustees would want to refer back to previous requests from one organization or another to see if changing circumstances warranted a different decision from the past. But it became increasingly difficult to keep all the information for each grant request readily available.

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The Hagan Foundation

The Challenge:

In 2005, Mr. Hagan decided to establish a charitable foundation. Because of his time commitments to his three young children and the demands of a fast-growing business, he wanted a turnkey operation that provided “simplicity and convenience.”

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