As an attorney advising philanthropically motivated individuals and their families, clients turn to you for a wide range of services related to their estate planning and charitable needs. This often includes questions about creating and administering foundations. For attorneys who are looking for a one-stop solution to provide clients with everything they need to create, administer and grow their foundation, Foundation Source is an excellent option. From private foundation administration to compliance to philanthropic advisory services, we have services to assist both you and your clients on every step of the philanthropic journey.
From private foundation administration to compliance to philanthropic advisory services, we have services to assist both you and your clients on every step of the philanthropic journey.Get Started Now!
Through our full-service offering, we work directly with your client to create their private foundation. Once your client submits a completed application, a new foundation is formed efficiently and cost-effectively as a Delaware corporation in less than one week. Once funded, we also file IRS Form 1023 for tax-exempt status. Our process is reliable and proven. It’s especially helpful for those attorneys whose in-house resources may be limited, whose experience with foundations is occasional, or who simply don’t have the time to keep up with the changing regulatory environment. We have delivered more than 1000 private foundations using this proprietary process.
Whether we provide the foundation or your client already has a foundation and is looking for support running it, our complete, integrated suite of support and advisory services keeps private foundations running smoothly and compliantly with IRS regulations. Your clients can engage in the kind of creative, innovative philanthropy they are looking for without concern for hidden or unexpected risks. We handle all the back-office details, including tax preparation, state filings, compliance monitoring, transaction processing, reporting and much more. You and your clients can rest assured that we’re constantly monitoring the foundation and will alert you to any potential problems. Because our services are tiered, your clients pay only for the level of support they need and, as they grow, our services and support can grow with them.
Foundation Source provides you and your clients with a specialized team of experienced philanthropic advisors. Foundations can expand their goals and strategies without adding staff or overhead. Clients get the expertise they need, when they need it. Whether it’s a phone call to answer a quick question or an in-depth engagement around governance, mission, strategy, program development or family engagement, they can get the help they need from Foundation Source.
Our hands-on involvement with the foundation’s operations enables us to spot potential legal issues that otherwise might not come to the attorney’s attention. Since we never provide legal advice or practice law, we refer your clients back to you for guidance. In these cases, our team of foundation experts is available to consult with you on options as you wish. We stay completely up to date on the relevant laws, regulations and best practices regarding private foundations, so we are able to support you as needs arise.