A Change in Leadership
When it’s time to pass the leadership baton, our services ensure stability and continuity. We are a constant, steadying presence, so you never lose momentum or key data. These articles will help you prepare for your transition:
Engaging Family Members
A private foundation provides numerous opportunities for family-building activities. Participation also helps prepare the next generation to assume leadership of the foundation when that time comes. Our web-based tools foster involvement and collaboration in foundation activities, even when family members are scattered around the globe.
Sudden Asset Growth
When a foundation experiences rapid asset growth, such as from a bequest or the sale of a business, the foundation’s payout requirement will also grow, as will demands on the board members. Foundation Source can help you expand your capacity without adding unnecessary overhead. We can help you:
- Reduce your administrative burdens
- Streamline Grants Management
- Expand your philanthropic capabilities
The Departure of a Key Staff Member or Advisor
Many foundation boards worry that operations will be hamstrung by the departure of a seasoned foundation advisor or staff member. During such transitions, our unmatched expertise in private foundation administration provides continuity of service. Learn how we can help:
Integrated Support Under One Roof
Getting all of your foundation’s needs met in one place is more than convenient—it’s smart! Instead of coordinating the efforts of multiple advisors yourself (some of whom may lack the specific expertise required for foundation operations), you get a team of foundation specialists from one source, Foundation Source.
An End to Busywork
We handle all of your foundation’s transactions (and keep meticulous records). We prepare and file all your foundation tax returns, and take care of the financial and regulatory reporting.
Experts on Call, Not on Payroll
Because our tax, legal, administrative, and philanthropic experts serve as your virtual staff, you get their top-flight support for a fraction of the cost of bringing comparable staffing in-house.
Compliance Monitoring Top Professionals
Running a foundation without running afoul of the IRS requires a thorough understanding of complex IRS rules and regulations. Should we spot potential compliance issues with your foundation’s activities, we alert you and help you make informed decisions about how best to move forward.
• Verify grantee’s 501(c)(3) public charity status
• Provide USA PATRIOT Act due diligence
• Identify supporting organizations
• Monitor “Advance Ruling” expirations
• Monitor grants and expenses to help prevent:
– Jeopardizing investments
– Taxable expenditures
– Excess business holdings, etc.
• Monitor affiliations with other nonprofits
• Track substantial contributors
A Technology Platform Built Exclusively for Private Foundations
Connect with your foundation anytime, anywhere, by logging into the secure, web-based console provided by Foundation Source. Developed specifically for the needs of private foundations, it simplifies foundation control, communication, and collaboration.
A Full Range of Philanthropic Options
We’ve streamlined traditionally complex processes, making it easier for your foundation to:
- Grant directly to individuals for disaster relief and hardship assistance
- Make program-related investments, loans, and equity investments
- Award scholarships
- Grant internationally
- Run charitable programs
An Instant Network of Foundation Peers
As a Foundation Source client, you become part of a community of over 1,200 private foundations. You’ll gain access to virtual and in-person events where you can share experiences and best practices, meet with experts and sector leaders, and connect with peers who share your interests and goals.
Services Tailored to Your Needs and Preferences
We offer three tiers of service, so you can get the precise level of support your foundation requires. You get everything you need from day one, and when your foundation is ready to grow, our services grow with you. You’ll never need to go anywhere else.
Foundation Source Essential is designed for foundations with straightforward granting and investment activity. It delivers the core services that every foundation needs, at an economical price point. This turnkey, technology-based solution will keep your foundation running efficiently, effectively, and compliantly, so you can focus on your philanthropy.
Foundation Source Advanced is for foundations that wish to pursue more sophisticated grantmaking techniques. In addition to the core services every foundation needs, you gain access to a virtual staff of private foundation experts and advanced grantmaking services to take your foundation to the next level. Services are coordinated through a dedicated Private Client Advisor who gets to know you and your foundation, and serves as your primary contact for all company resources.
As a Foundation Source Premier client, you enjoy our highest level of support and a full slate of advanced services, most at no additional fee. You’ll be able to take advantage of every IRS-sanctioned giving technique available to private foundations along with proactive tax planning and effective, efficient administration.