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FAIRFIELD, Conn. – Foundation Source, the nation’s largest provider of comprehensive support services to private foundations, today announces its acquisition by Incline Equity Partners (“Incline”). Lincoln International served as Foundation Source’s financial advisor throughout this process.

Headquartered in Pittsburgh, Pa., Incline invests in companies that are poised for growth across a variety of industry sectors, including business services. Their goal is to strengthen a company’s ability to leverage its strategic assets to realize its full potential. The partnership with Incline will position Foundation Source to expand its services, expertise, and online capabilities, fueling its long-term growth.

“As the leading provider of comprehensive foundation management solutions and an industry pioneer, we are excited to partner with Incline in this next iteration of the firm’s evolution,” said Susan Friedlander Calzone, chief executive officer of Foundation Source. “For nearly 20 years, the Company has been providing unmatched convenience, high-touch service, active compliance monitoring, and seasoned tax, legal and expert philanthropic solutions. Because Incline partners with best-in-class firms that are poised for growth, their involvement represents an endorsement of everything that we have accomplished thus far and a major vote of confidence regarding the company’s future. We will continue, as always, to deliver service excellence to our clients, and this new partnership enables us to further penetrate our current market and expand into new ones.”

Incline Partner Joseph Choorapuzha said: “Foundation Source has an impressive business model and technology platform with expertise in the highly specialized area of private foundation support as well as in the broader arena of philanthropic services. The firm’s untapped potential, and its commitment to growth and innovation, is perfectly aligned with our desire to help growing companies achieve greater success.”

Friedlander Calzone added: “In welcoming this exciting new chapter for Foundation Source, we remain committed to our clients, employees, and professional partners. We will continue to work with wealth management firms, law firms, accounting firms, and family offices, as well as directly with individuals and families.”

For more information about Incline, visit

About Incline Equity Partners (

Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.

About Foundation Source (

Foundation Source is the nation’s largest provider of comprehensive support services for private foundations. Our complete outsourced solution includes foundation creation (as needed), administrative support, active compliance monitoring, philanthropic advisory, tax and legal expertise, and online foundation management tools.

Now in our second decade, Foundation Source provides its services to more than 1,600 family, corporate, and professionally staffed foundations, of all sizes, nationwide. We work in partnership with wealth management firms, law firms, accounting firms, and family offices as well as directly with individuals and families. Foundation Source is headquartered in Fairfield, Connecticut.

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