Foundation Source / Get Started / Attorneys
For our full-service offering, we engage directly with the client, keeping the attorney informed and involved as requested. Services include foundation creation (if needed), administrative support, compliance monitoring, transaction processing, online foundation management tools, and philanthropic advisory services.
Our experience in working with private foundation clients over the past decade has shown that new philanthropists benefit tremendously from this support, particularly during the first few years of operation.
The result: better-run and more effective private foundations, with the ease and simplicity of a donor-advised fund.
Our support services are also available for established foundations.
Foundation Source provides a fully outsourced service that modernizes private foundations for the 21st century. Nevertheless, the following common misperceptions still persist.
The Reality: Of the 86,000 foundations in existence today, 88% have assets below $5 million and 66% are under $1 million. Foundation Source makes it practical to start a foundation with as little as $250,000.
The Reality: Foundation Source can have a new private foundation up and running in less than a week for a very reasonable fee.
The Reality: Today, a foundation can be as easy to manage as a donor-advised fund. Foundation Source takes care of all the administrative tasks and provides easy-to-use online tools that keep donors in control.
Our legal staff knows the IRS Code pertaining to private foundations inside and out, but we do not provide legal advice to clients. You can tap our expertise about foundation matters without worry that we will interfere in your client relationship.
Our daily involvement enables us to spot potential issues before they become problems, and refer those clients back to you.
We provide additional services you can offer to your philanthropic clients. Foundations can help you engage with the client’s children and other family members, and stay connected to the family after the client’s death.
Fast Track Pro is a service exclusively for attorneys that focuses on the creation of private foundations. It is designed for attorneys who wish to be involved in the set-up of the foundation and serve as the primary contact with their clients. We work for you, behind the scenes, to provide the foundation entity, a non-stock Delaware corporation, create and file IRS Form 1023 for Recognition of Exemption, and track that filing through issuance of the Determination Letter.
Once the foundation is set up, the client can opt to take advantage of our ongoing services for foundation administrative.
Get Started GuideDownload our Getting Started Guide for Attorneys.
Overview of ServicesReview the Overview of Services page to get details about the integrated support services we provide for all foundations.
Foundation Source is the nation’s largest provider of comprehensive support services for foundations, bringing unparalleled knowledge and expertise to clients across the country. Our clients supply the funds, the vision, and the philanthropic goals; you provide legal counsel; we take care of the rest.
Contact us to ask any questions you may have or to discuss the needs of a specific client.