Atlantic Trust

Story in: Case Studies

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.

Ms. Beisel faced just such a challenge when a large charitable foundation moved to Atlantic Trust because of dissatisfaction with the staff and services of their prior trustee. To provide the new client with outstanding foundation administration services as well as investment management, she spoke with colleagues in Atlantic Trust branches around the country and heard unanimous praise for Foundation Source. So, with the approval of the foundation trustees, Ms. Beisel selected Foundation Source to provide administrative services for the foundation.

How They Work With Us

The foundation donates to a wide variety of causes in five regions across the country. Without Foundation Source, Ms. Beisel would have to receive, track and organize piles of paper applications and make copies to send to the board members. In addition, Ms. Beisel would have to chase down IRS determination letters and verify the continued eligibility of charities herself. By using Foundation Source Requests, the foundation can receive grant requests online and eliminate this burden. The online eligibility test designed by Foundation Source screens all applicants and eliminates those who do not meet the foundation’s funding criteria. Applicants now provide all the required information electronically, and Foundation Source verifies their eligibility. For charities with which the foundation has an existing relationship, Foundation Source produced customized postcards for Atlantic Trust to mail out, guiding these organizations through the new online process.

In addition, Foundation Source Online offers the foundation a secure, customized web site that allows the six far-flung foundation trustees to easily communicate and collaborate on all grantmaking decisions. Foundation Source uploaded seven years of back grant history into the online platform, so all trustees can now see their past grants categorized by charity name and grant amount, and also by geographic area and program area. This provides new insight into their giving patterns and helps them make future allocations.

Their Experience Now

Foundation Source has allowed Ms. Beisel to focus on key client issues as a financial advisor. “Foundation Source has far exceeded our expectations. They’re responsive and take all the problems and difficulties out of administering a foundation. In fact,” she adds, “I’ve already recommended Foundation Source to two other foundations.”