How to Better Manage Your Foundation
Foundation Source offers modern foundation management services, integrating cutting-edge technology with time-tested, expert advice and client services. We understand the unique challenges and needs of managing a private or family foundation because we’ve been focused on exactly that since 2001. We can provide you with:
– The capacity and bandwidth of a professional staff—without the expense of hiring them yourself or adding to existing headcount.
– The ability to consolidate multiple functions (administration, tax preparation, etc.) into a single-source provider.
– A scalable solution to support your foundation as it grows in size, sophistication, and number of participants.
– Stability, so that as your foundation evolves and changes, you won’t lose key data, momentum, or endure growing pains.
– An online system for your philanthropic activity, providing transparency and facilitating collaboration, no matter where foundation members are located.
More About Our Foundation Management Services
Streamlined and automated foundation operations.
Efficient, worry-free foundation administration is the key to a rewarding and enjoyable experience. Our professional staff handles the details that keep your foundation running smoothly, so you can focus on your philanthropic goals.
We assist more than 1,700 private foundations, taking care of:
- Foundation administration
- Grant and expense processing
- Compliance monitoring for 501(c)(3) rules and regulations
- Tax preparation and filings
- Grants management
- International grantmaking
- Philanthropic guidance and consulting
- Accounting and auditing
- Financial and regulatory reporting
If you already have a foundation, we’ll transition you to Foundation Source’s automated platform quickly and efficiently. If you’ve decided to start a foundation, we can have you up and running in less than a week.
Expert Guidance: Tell us your vision, and we’ll help you get it done.
With Foundation Source, you gain ready access to a team of private foundation experts, without adding employees or building unnecessary infrastructure.
These world-class specialists have in-depth knowledge covering all aspects of private foundations, from tax and legal to accounting and philanthropy. Their mission is to help you achieve the greatest impact on the issues you care about.
- Private Client Advisors
- Philanthropic Directors
- Advanced Grantmaking
- Information & Education
User-friendly, state-of-the-art, web-based platform simplifies foundation management.
Connect with your foundation anytime, anywhere, from any Internet-connected device. Simply log into the secure, online console provided by Foundation Source. Developed specifically for the needs of private foundations, it simplifies foundation control, communication, and collaboration in a way never before possible. Designated foundation members get instant access and total transparency into foundation activities. Features Include:
- Charity research, including links to in-depth information and analysis from GuideStar® and Charity Navigator®
- 5% distribution tracking
- Automated granting
- Grants management
- Transaction processing
- Online reporting
- Document archiving
We’ll work with you to customize the viewing rights and granting authority for each person given online access, so you can control what they see and what they can do when logged in.
Foundation Source Requests: Online Grants Management
Foundation Source Requests is a web-based grants management service that makes it easy to accept grant applications online, then organize, review, track, and reply to those requests with just a few clicks and key strokes. This innovative technology is fully integrated with our core services that include research tools for more informed grant decisions, and the ability to process and deliver grant checks.
Foundation Source Results: Online Grants Assessment
Foundation Source Results is an automated, online service that allows donors and foundations to track the impact of their charitable donations, monitor performance, and request formal reports, all from a simple web console. It revolutionizes the process of assessing grant impact by collecting key performance information from nonprofits, including how grant funds were spent, grantee’s progress towards goals, unexpected challenges, and lessons learned.
With Foundation Source you get:
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 of 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 by 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:
- 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.
An Instant Network of Foundation Peers: As a Foundation Source client, you become part of a community of 1,650 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.
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
We help you navigate the inevitable transitions that come your way.
Just like the individuals and families who establish them, private foundations have life cycles, too. And since nearly 90% of foundations are intended to exist in perpetuity, they typically undergo a multitude of transitions over their extended lifespan, including:
- Geographic dispersion of family members
- A change in leadership
- Family growth
- Retirement of a trusted family advisor or key staff member
- Generational succession
- Sudden growth of foundation assets
No matter what turning point you encounter, Foundation Source has the resources and experience to help you through it. And because we adapt our services to fit your evolving needs, we’re a constant, steadying presence that can help your foundation maintain its efficacy throughout its lifecycle.