FAIRFIELD, Conn. — (BUSINESS WIRE) — Foundation Source, the nation’s leading provider of support services for private foundations, announced today that it has been honored as the 2007 Philanthropic Group of the Year at the annual High Net Worth Industry awards sponsored by notable industry publication Private Asset Management. The prestigious award recognizes the company’s innovative approach to automating and streamlining private foundations and its success in bringing outsourced foundation services to the nation’s leading private wealth management firms.
“It is a great honor to be recognized as the 2007 Philanthropic Group of the Year,” said Daniel M. Schley, Foundation Source chairman and CEO. “For decades the focus within the private wealth sector has been on growing assets, protecting them in difficult times and distributing assets to the next generation. Today, there is a rapidly emerging fourth component to the successful private wealth offering strategic philanthropy with industry thought leaders rapidly adding a range of philanthropic services to their core service offering. For ultra high-net worth clients, strategic philanthropy means private foundations, and increasingly a partnership with Foundation Source. We are pleased, indeed, that our partners and our peers have recognized Foundation Source as the Philanthropic Group of the Year.”
Added Doug Mellinger, Foundation Source founder and vice chairman, “For years, Foundation Source has focused on providing a complete suite of outsourced services for setting up and operating private foundations. Since inception, our strategy has been to distribute our services in partnership with the nation’s premier wealth management firms. Winning this prestigious award confirms that the nation’s most philanthropic families are truly benefiting from the value that we have teamed up with our partners to provide.”
About Foundation Source (www.foundationsource.com)
Foundation Source is the nation’s leading provider of support services for private foundations. The company’s back-office, online and support services ease the administrative burden, freeing foundations to focus on mission, strategy and family priorities and less on back-office administration and compliance tasks. The result: better run foundations with greater social impact. Foundation Source was recently honored as the 2007 Philanthropic Group of the Year by the editors of Private Asset Management.
Today, Foundation Source provides its full range of award-winning services to over 600 family, corporate and professionally-staffed foundations representing over $2.5 billion in foundation assets under administration. The company provides its services through partnerships with the nation’s leading private wealth management firms, trust and estate attorneys and CPAs. The company is headquartered in Fairfield, CT with regional offices in Atlanta, Boston, Charleston, Chicago, Denver, Los Angeles, New York City, Philadelphia, Salt Lake City, San Francisco and Seattle.