In this special edition of our Foundation Friday Series, we asked some of our private foundation clients to share their thoughts on what it’s like to work with us. We hope their stories serve as inspiration whether you’re looking for a better, easier way to manage your foundation or you’re thinking of starting one. Thank you to our clients for taking the time to share your insights with us and for choosing Foundation Source to be your partner in giving!
Getting Started
How was the process of getting your private foundation set up or transitioned to Foundation Source?
The Zain Jaffer Foundation
The process was incredibly seamless and easy. The Zain Jaffer Foundation is my very first foray into formal philanthropic work, so it was all a new experience for me when I started. After my exit, I knew for sure that I wanted to set aside some funds for charitable causes, but I didn’t have much background about the process at all. Fortunately, trusted partners recommended Foundation Source. They took care of all the behind-the-scenes work and handled the administrative details for compliance. It was reassuring to have such a smooth transition and to know that the technicalities were in capable hands.
The Reid Burns Foundation
My investment advisors and Foundation representative helped me out with the process, which went smoothly. Note that there is a 5% minimum distribution requirement per year by law, so it helps to keep an eye on that and not have to scramble at the end of the year to meet the minimum.
Lee Oceans Foundation
The process of setting up our private foundation with Foundation Source was easy and seamless. Each step of the way, our private client advisor was there to advise what decisions needed to be undertaken, what considerations should be taken into account, and what decisions could be deferred or changed at a later point. Coming into this process with no previous exposure or knowledge of private foundations, Foundation Source made the entire process painless and approachable.
Achieving Giving Goals
How does Foundation Source help you achieve your goals?
The Morgridge Family Foundation
Foundation Source helps us track our financial transactions, and through the online platform, we can run reports in real time and see where we stand at all times. But even more important is the ability to see our year-end impact. Our nonprofit partners submit impact reports and we are then able to assess our cumulative impact in order to adjust our giving and our thinking as needed. Foundation Source helps us continue to learn as we go, and as we grow.
The Rodriguez Cheever Foundation
They help us with all of the regulatory and administrative functions so that we are compliant with nonprofit status. They are also a great sounding board for things we are considering doing.
The Gupta Charitable Foundation
They help us to focus on what our passion is, and devote time to real work, rather than the mundane legal, governmental requirements. They are also helping us by providing advice and guidance when we have questions around how to run the foundation, how to promote our cause of OneInMath, and bringing in experts in tax and nonprofit entities to advise on various aspects of how to financially and legally organize ourselves.
The Overall Process and Client Experience
Can you tell us about your experience working with the Foundation Source team?
The Boris Lurie Art Foundation
With all the moving parts of organizing exhibitions worldwide, Foundation Source’s services prove indispensable. We rely on the client services team’s expertise to collaborate with vendors around the world and can feel assured that they are keeping a close eye on all transactions to ensure compliance with IRS guidelines.
Pincus Family Foundation
PFF has been a client of Foundation Source for over ten years. We have been quite satisfied with the support that we receive. We appreciate the structure of having one dedicated Private Client Advisor and the facilitation of platform training for new staff. Interactions with other departments, i.e., accounting and product support, are productive. There is comfort in knowing this resource is available as we pursue our passions.
Bowman Family Foundation
We have been a client since 2008. The entire experience has been a pleasure – great advice, novel ideas that had not occurred to us, and minimization of the administrative functions that we would otherwise have to staff.
Looking for more client stories and other smart ways to give through planned giving programs and donor-advised funds?
We have a full range of tech-enabled giving solutions for donor-advised funds, planned giving and charitable trusts. And with our philanthropic advisory services, our subject matter experts are there to guide you every step of the way.
Have a Foundation Source story you’d like to share?
Write to us at for a chance to be featured in an upcoming issue!
Want to learn more about the ways we support private foundations?
Whether you are looking for support for your existing foundation or want to create a private foundation, our philanthropic specialists are here to help. To learn more, schedule a call with us or reach us at 800-839-0054. Together, let’s #begiving.
