In his role as Senior Managing Director, Mr. Land will advance Foundation Source in the market, working with wealth managers, financial advisors, estate planning attorneys, and with donors who either run or are establishing private foundations. He assumes primary responsibility for Alabama, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, West Virginia, and parts of Virginia.

According to Tony Rodriguez, National Director of Sales for Foundation Source: “Mark Land has an impressive and well-rounded background working alongside philanthropically minded individuals and the advisors who serve their unique needs. We are excited to welcome Mark to the Foundation Source team and to have him strengthening our presence in such an important and philanthropically fertile region of the country.”

As Vice President, Trust and Investment Advisor at High Point Bank, Mr. Land focused on the expansion of personal trust and nonprofit service relationships within the Triad region of North Carolina. Prior to that, he was Managing Director at Wells Fargo Bank’s Center for Planned Giving. Other positions held include Senior Campaign Consultant at Whitney Jones, Inc. and Director of Alumni Relations at University of North Carolina School for the Arts.

Commenting on his new appointment, Mr. Land said: “Private foundations are no longer the purview of just the ultra-wealthy. Today, individuals of means establish private foundations for a host of reasons, such as increased control over their charitable giving and their philanthropic investment assets, the ability to create a meaningful legacy, and the satisfaction of creating real social impact. I am excited to partner with individuals and their trusted advisors to introduce them to Foundation Source’s suite of foundation administration, compliance, and philanthropic advisory services.”

Mr. Land’s philanthropic activities include the YMCA of Northwest North Carolina, Samaritan Ministries in Winston-Salem, N.C., and the North Carolina chapter of the Partnership in Philanthropic Planning. He was a ballet major at University of North Carolina School of the Arts prior to becoming a dancer with North Carolina Dance Theater.

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms, and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, Washington, D.C., and Winston-Salem.

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Media Contact:
Rich Polt
Communications Liaison
617-699-9144
rich@communicategood.com

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Click here to download the Full Report (free with registration).

Private foundations with less than $50 million in assets account for 98% of the approximately 86,000 foundations in the United States; however, data about this “super majority” is scant because most private foundation research looks only at the wealthiest grantmaking philanthropies.

Foundation Source’s 2013 Annual Report on Private Foundations provides a first look into the 2012 investment and grantmaking performance of private foundations with less than $50 million in assets. It is based on the actual transactions of 732 Foundation Source clients between January 1, 2011 and December 31, 2012.

This latest Report shows a marked 9.2% increase in giving over 2011, fueled by a rebounding market and donors making new contributions to their own foundation endowments.

Other top findings include:

• Foundation endowments grew by 10% .
• Foundations added $1.06 to their endowments for every dollar spent on grants and charitable expenses.
• Charitable distributions were more than twice the IRS-mandated 5% of assets

To learn more:

Click here to download the FREE Executive Summary.

Click here to download the Full Report (free with registration).

The post Foundation Source’s Second Annual Report on Private Foundations appeared first on Foundation Source.

AiP members constitute a wide-ranging network of professional advisors who are devoted to mastering and promoting the practices of client-centered philanthropic planning. Under the terms of the strategic alliance, members of AiP now have access to Foundation Source as their virtual private foundation services team, allowing them to easily provide their clients with a turn-key solution that enables efficient, effective philanthropy via a private foundation.

“AiP’s independent advisors are each committed to providing their high-net-worth clients with the most comprehensive, current, and accessible philanthropic services available,” said Enzo Calamo, Co-President of the AiP Board of Directors. “The strategic alliance with Foundation Source provides AiP advisors with preferential access to a powerful suite of tools and services that will enable them to fully support clients who are thinking of starting or already have their own private foundations.”

AiP member clients will receive preferential pricing on Foundation Source services, including a special discount on foundation set-up fees for new clients referred to Foundation Source by AiP’s members. In addition, AiP members will gain access to:

• Live educational webinars and online tutorials about private foundations
• One-on-one education sessions with Foundation Source Managing Directors
• Topical philanthropic white papers and educational booklets
• Subject matter experts on philanthropy and private foundation tax and legal issues
• A dedicated Foundation Source Managing Director, available to serve as an educational resource on private foundations, and to support clients’ and advisors’ private foundation needs

According to King McGlaughon, Foundation Source Chief Executive Officer: “Independent advisors in the fields of wealth management, finance, law, and accounting, are aware of the many benefits that private foundations afford their high-net-worth clients, but often they lack the internal resources to help these clients establish and/or manage their private foundations. For more than a decade, Foundation Source has been focused on simplifying the experience of starting and running private foundations. This strategic alliance lets AiP advisors expand their portfolio of services and empowers them with a solution that is superior to those offered by many of the nation’s largest financial institutions.” 

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support and advisory services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms, and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, and Washington, D.C.

The post The International Association of Advisors in Philanthropy (AiP) and Foundation Source Form Strategic Alliance appeared first on Foundation Source.

Based on the actual grantmaking behavior of 732 Foundation Source clients, these findings provide one of the sector’s first looks at 2012 philanthropic activity and preview Foundation Source’s 2013 Annual Report on Private Foundations. The full report, scheduled for a May release, will provide information on asset allocation, grantmaking behavior, and endowment growth/decline for U.S. private foundations. The first Annual Report on Private Foundations was released last fall.

Initial findings on the 2012 giving behavior of these foundations are as follows:

1. OVERALL GIVING: Private foundations with less than $50 million granted 9.1% more in 2012 than in 2011. Much of this is attributable to foundations in the $1–10 million range, which granted 21.5% more in 2012 than the year prior (see Figure 1 below).
2. QUALIFYING DISTRIBUTIONS: These private foundations continue to pay out more than twice their 5% minimum distribution requirement, and actually increased their qualifying distributions (grants + charitable expenses) in 2012 to 11.7% of assets, up from 11.2% in 2011 (see Figure 2 below).
3. GRANT RECIPIENTS: As giving priorities shifted in 2012, International Causes, Arts & Culture, and Human Services experienced an increased share of giving dollars. (See Figure 3 below.)
4. SIZE OF GRANTS: The largest increase from 2011 to 2012 were grants of less than $1,000 (up 16.8% in value). The next largest category was grants between $100,000 and $1 million (up 16.2% in value). The smallest increase was in the $1,000 – $10,000 range (up 4.9% in value).

The foundations in this report provide a representative snapshot of the giving activity of the largest segment of private foundations in the U.S. today: private foundations with endowments less that $50 million that make up 98% of the approximately 80,000 private foundations in the U.S. Until recently, little has been reported on this segment of foundations, and even today, data remains scant. Most reporting about private foundations has traditionally focused on the largest 2% of foundations.

Because most studies rely on data from foundations’ previous year’s tax returns, there typically is a lag time of a year or more before information on foundation activity is publicly available. In contrast, Foundation Source’s Annual Report on Private Foundations provides an up-to-date snapshot of giving behavior because the data for this report is gleaned from aggregated transaction data of Foundation Source clients.

Analysis of the 2012 data shows that across the board, foundations with less than $50 million made qualified distributions well in excess of their 5% minimum distribution requirement. Consistent with last year’s findings, the level of qualified distributions for these foundations has remained relatively constant since 2008 (see last year’s report).

According to King McGlaughon, Chief Executive Officer of Foundation Source: “The narrative over the last few years has been that foundations under $50 million were ‘stepping up’ to do more during hard times. While no one would question their extraordinary generosity, the consistently high and sustained levels of giving that we see suggest that this group may actively exceed their minimum distribution requirement regardless of what is happening in the broader economy.”

“Private foundation grantmaking was up both in terms of the amounts given and as a percentage of assets,” said Andrew C. Bangser, Chief Financial Officer of Foundation Source. “When we release the 2013 Annual Report on Private Foundations later this year, it will be interesting to observe how these foundation giving trends correspond to their overall endowment growth and asset allocation.”

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support and advisory services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms, and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, and Washington, D.C.

###

Media Contact: 

Rich Polt
Communications Liaison
617-699-9144
rich@communicategood.com

FIGURE 1 (click to enlarge)

 FIGURE 2 (click to enlarge)

FIGURE 3 (click to enlarge)

The post 2012 Giving Climbs 9.1% Among Super-Majority of U.S. Private Foundations appeared first on Foundation Source.

The award, which recognizes excellence for professionals operating within the private asset management industry, was based not only on the company’s growth in 2012, but also on its decision to “unlock the vault” to its Knowledge Center. As a result, philanthropists, philanthropic organizations, and the professionals who serve them now have ready access to the company’s once-proprietary content about private foundation management, tax compliance, and philanthropic strategy. The Annual Report on Private Foundations, launched in September of 2012, was also heralded as a significant contribution to the field. Foundation Source was chosen in the sole category focused on philanthropic endeavors.

“The Private Asset Management Awards are regarded as a significant recognition of achievement, and we are honored to have been chosen from a field of well-known and distinguished nominees,” said King McGlaughon, Chief Executive Officer of Foundation Source. “In 2012, Foundation Source entered its second decade, a natural time for any company to take stock of its accomplishments and to set its sights on the future. We are proud of our many recent accomplishments and are thrilled to know that they are having a positive impact on our clients and on our partners in the financial sector.”

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms, and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, and Washington, D.C.

About the PAM Awards

The PAM Awards are given out annually by Private Asset Management, a financial services industry trade publication. The PAM Awards invites firms to compete for recognition in several categories by providing information regarding their business model, services offered, growth in client count and assets managed, countries of operation, service innovation, and performance. A panel of independent industry experts selects the nominees and winners based on a number of qualitative and quantitative performance indicators.

The post Foundation Source Receives 2013 Private Asset Management Award For Best Philanthropic/Educational Initiative appeared first on Foundation Source.

In her new role at Foundation Source Ms. Kreiger will design, develop, and implement community programs that convene the Foundation Source community – a robust network of clients, advisors, and staff – and connect them with a broader sphere of external industry professionals, philanthropic experts, and nonprofit organizations. She will work out of the company’s Washington, D.C. office.

“Dori Kreiger is a tremendous addition to Foundation Source, and a win for the many family, corporate, and professionally staffed foundations that we serve throughout the U.S.,” said Andrew Schulz, National Director of Community and Legal Relations. “She blends an unparalleled understanding of private foundations and the nuanced issues facing donors, with an extensive network of relationships, cultivated throughout her career. The attributes that Dori possesses allow Foundation Source to more effectively open lines of communication and knowledge sharing between our internal constituents and the broader philanthropic community.”

Ms. Kreiger most recently served as Director of Partnership Development at the Association of Small Foundations (ASF) in Washington, D.C., where she managed the organization’s development program and was responsible for securing a sizable portion of ASF’s operating budget in the form of foundation grants and corporate partnerships. Prior to ASF, Ms. Kreiger held leadership positions at the Council on Foundations (COF), as Managing Director in the Family Philanthropy Services Department, and before that, as a Director in the Community Foundation Services Department. At COF, she created programs and services addressing key issues relevant to philanthropic families, namely governance best practices, grantmaking strategy, and next generation engagement, and was instrumental in the design and management of the annual Family Philanthropy Conference. Ms. Kreiger also led the creation of COF’s Next Generation Task Force to foster multigenerational dialogue and collaboration within family foundations.

Commenting on her new appointment, Ms. Kreiger said: “When we talk about private foundations today, we should no longer emphasize the word ‘private.’ Increasingly, foundation board members and staff are benefitting from the experiential insights of their peers, and the extensive body of knowledge that exists about philanthropic best practices. Foundation Source understands that philanthropy is not an insular pursuit. It is committed to serving its clients not only as a purveyor of direct service, but as a convener of interested parties and a hub of information.”

Earlier in her career, Ms. Kreiger worked at The Community Foundation Serving Richmond & Central Virginia as a Donor Services Officer, and separately, as a Finance Officer. She has spoken extensively on such topics as foundation board management, next-generation philanthropy, and the ways private foundations partner with community foundations.  Ms. Kreiger is a graduate of James Madison University.

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools, and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms, and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, and Washington, D.C.

The post Foundation Source Announces Hiring of Ms. Dori Kreiger appeared first on Foundation Source.

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When Page Snow, chief philanthropic and marketing officer at Foundation Source, started in philanthropy, the field was heavily dominated by the elderly.  “Now it has become a part of this generation’s identity,” she says.

It’s not the size of the philanthropic assets in question that makes this age group so important; it’s the little-seen intellectual capital its members are building that will be so crucial to tomorrow’s society. As these 40-year-olds keep working, they continue to build their foundations’ endowments, learning by mistakes and fine-tuning their philanthropic objectives as they go. In this way, a philanthropist — as exemplified below, in the story of Seattle’s Shaula Massena — might evolve during this midlife period from a fairly passive check writer to a hyperfocused investor looking for investments that directly tackle society’s ills.

Read full story.

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Private foundations with less than $50 million in assets account for 98% of the approximately 80,000 private foundations in the United States; however, until now, data about this super majority was scant, as most research focused only on the largest private foundations.

The Foundation Source First Annual Report on Private Foundations provides information on asset allocations, grantmaking behavior, and endowment growth/decline based on the actual transactions of 519 Foundation Source clients, all with assets under $50 million, between January 1, 2008 and December 31, 2011. Top findings include:

1. ASSET ALLOCATION: The Alternative Investments Boom. Of the four asset classes: cash, equities, fixed income, and alternative investments (e.g., private equity, real estate, commodities), the number of foundations using alternative investments as part of their diversification strategy shifted most significantly during the study period. 38.3% of private foundations used alternative investments on January 1, 2008, while 49.3% incorporated them into their investment strategies by December 31, 2011.
2. GRANTMAKING: The Myth of the 5% “Ceiling.” Even during the worst of the recession, private foundations consistently gave well in excess of the 5% annual distribution required by federal law. Disbursements for grants and charitable expenses averaged 11.6% of assets between 2008 and 2011, and the total value of grants increased 4.5% during the same period.
3. ENDOWMENT GROWTH/DECLINE: (Almost) Keeping Pace with Grants and Expenses. The extent to which donors continually replenish capital and add to foundation endowments is often overlooked. For every dollar that was granted to a nonprofit or paid as a charitable expense, 88 cents was received in newly contributed capital from the foundation’s donors.

To learn more, click here to download the full report.

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According to H. King McGlaughon, Chief Executive Officer of Foundation Source, “The world of private foundations and the needs of the 21^st century philanthropist have changed dramatically since Foundation Source was launched more than a decade ago. Our renewed brand is emblematic of the changing philanthropic landscape—with an increased emphasis on community, knowledge-sharing, and collaboration. It also speaks to the evolution Foundation Source has undergone as we’ve grown from a back-office technology firm in the early 2000s, to a provider of comprehensive, fully integrated private foundation services today. Our experience with over 1,100 private foundation clients gives us unique knowledge, understanding and opportunity to support and inspire the grantmaking community.”

Founded in 1999, Foundation Source made its name as a provider of back-office technology that helped private foundations manage their administrative and grantmaking activities. The company’s offerings came to market at a time when private philanthropy was experiencing a marked expansion in this country and donors demanded more flexible tools to conduct their business virtually while streamlining costs. Over the last decade, the company has grown in size and in scope. Today, the company serves more than 1,100 private foundations ranging from $250,000 to $500 million in assets. Its offerings include outsourced administrative services, online foundation management tools, and cutting-edge philanthropic advisory services.

“The 2011 appointment of King McGlaughon as CEO brought new perspective and a new corporate vision to Foundation Source and an opportunity to reflect on the core values of the company, as well as the changing mores of the philanthropy sector as a whole,” said Page Snow, Chief Philanthropic and Marketing Officer. “While our brand evolution has taken place over a number of years, we feel it is the right time to actualize these changes in the company’s external appearance. Our new logo, website, and collateral materials speak to and convey the spirit of innovation, entrepreneurism, creativity, and philanthropy wired into the DNA of every Foundation Source client.”

In renewing the brand, Foundation Source seeks to enable greater transparency and peer-learning among the private foundation community. To this end, Foundation Source elected to make public a wealth of proprietary content drawn from the best practices and experience of its more than 1,100 private foundation clients. Now, anyone interested in learning more about private foundations has access to the content in the company’s Knowledge Center. Content formerly available only to clients includes: articles on impact investing and Program-Related Investments, common tax reporting errors made on foundation 990-PFs, articles about private equity investments, and more than 50 other pieces of multimedia content.

The new Foundation Source website is organized around the company’s four core audiences: people who are thinking about starting a private foundation, people who are starting a foundation, those who already have a foundation and the foundation’s staff,  and trusted advisors who serve high-net-worth families (wealth advisors, attorneys and CPAs). The site brings together a broad array of content and information, and presents it in a streamlined, visually appealing manner. Other tools on the new website include Charity Directory, where donors can find and learn about the full array of IRS-qualified charities in the U.S., GrantSafe^®, a free service that enables private foundation members to verify the charitable status of potential grantees, and Cause Centers, which provide in-depth analysis and learning resources about key philanthropic issues.  To execute the rebrand, Foundation Source collaborated with the Philadelphia, PA-based branding and communications firm, BAJ Design.

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation’s largest provider of comprehensive support services for private foundations, bringing unparalleled knowledge and expertise to clients across the country. The company’s administrative services, online foundation management tools and philanthropic advisory services provide a total outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate and professionally staffed foundations, ranging in size from $250,000 to over $500 million. The company provides its services directly to philanthropically focused families and institutions as well as in partnership with the nation’s leading private wealth management firms, law firms and accounting firms. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Atlanta, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, San Francisco, South Florida, and Washington, D.C.

The post Foundation Source Announces New Look and New Website; Unlocks Wealth of Content appeared first on Foundation Source.