FAIRFIELD, Conn., – Joseph Mrak III, CEO of Foundation Source, the leading provider of philanthropic solutions for donors, nonprofits, institutions, and the wealth advisors who serve them, has been named to the prestigious InvestmentNews Hot List 2025.
The award comes after Mr. Mrak successfully led Foundation Source through a year of several strategic acquisitions. In June, the company welcomed Pacific Foundation Services, a foundation management organization supporting the Bay Area’s largest foundations, and in April, it acquired Giving Place, a software platform for family office giving programs and private foundations. Last year, Foundation Source acquired Vennfi, the fintech powering donor-advised fund (DAF) sponsor Charityvest, and PG Calc, a leader in planned giving programs and gift administration
In combination with Foundation Source’s flagship private foundation platform, these acquisitions formed the groundwork to scale the company’s philanthropic technology offering for financial institutions and deliver critical administrative, compliance, and sub-accounting support that increases operational efficiencies and mitigates risk.
“I’m honored to be recognized alongside so many hardworking and innovative leaders who are shaping the future of wealth management,” Mr. Mrak said. “Philanthropy has long been underrepresented in the typical advisor’s tech stack, and I am more motivated than ever to continue filling this critical gap with better tools and resources that help wealth managers seamlessly integrate charitable planning into client conversations.”
This year’s Hot List celebrates professionals who have risen to meet the industry’s challenges, enabling diversification and broadening access to sophisticated offerings. Mr. Mrak stands out for his commitment to empowering advisors with technology and professional services that simplify charitable giving. His recognition affirms Foundation Source’s position as a leader in philanthropic innovation and underscores the impact of its scalable solutions for donors and advisors.
Foundation Source has continued to expand this year with the launch of FS Charitable Fund (FSCF), an IRS-approved 501(c)(3) public charity that provides fiscal sponsorship services designed to help individuals, grassroots initiatives, and emerging nonprofit projects pursue their charitable goals. The firm also announced the addition of multi-custodial capabilities to its white-label DAF platform earlier this year through a new partnership with BridgeFT, offering greater flexibility for advisors and their clients.
“Foundation Source has experienced tremendous growth over the past year, and I’m incredibly proud to be leading a team that continues to innovate and push the boundaries of what’s possible in philanthropic technology,” Mr. Mrak said. “As we broaden our capabilities and strengthen our partnerships, our focus remains on delivering the infrastructure, expertise, and support that empower donors, advisors, and institutions to create meaningful, lasting impact.”
About Foundation Source (foundationsource.com)
Foundation Source is the leading provider of philanthropic software and services. A pioneer in philanthropic technology, we are the partner of choice for integrated, enterprise-grade solutions spanning private foundations, donor-advised funds and planned giving programs. Our flexible suite of tools and resources include end-to-end administrative support for the most popular charitable vehicles, specialized compliance, tax, development and consulting capabilities, and deep domain expertise to help maximize impact, mitigate risk, and improve efficiency for all parts of the philanthropic ecosystem. We work with donors, nonprofits, wealth advisors and financial institutions to launch, enhance or augment charitable initiatives with turnkey, white-label and outsourced offerings that meet a wide range of philanthropic objectives quickly, professionally, and compliantly.
As of June 30, 2025, we support more than 2,300 private foundations, 18,000 DAF account holders, and 1,800 nonprofits, administer $40 billion in charitable assets, and facilitate more than 180,000 grants and planned gifts annually.
