FAIRFIELD, Conn., — Foundation Source, the nation’s largest provider of cloud-based charitable giving solutions, today announced the appointment of Ashby Foltz to Senior Vice President of Product. Mr. Foltz is focused on driving the development of products and platforms that provide innovative support for all stages of philanthropy.
“We’re thrilled to leverage Ashby’s experience on our team as we accelerate innovation to provide donors, nonprofits, and the advisors that support them with best-in-class PhilTech solutions,” said Joseph Mrak III, CEO of Foundation Source. “Ashby’s cross-functional expertise is helping us fill a gap in access to the modern tools needed to empower financial institutions, wealth managers, and RIAs to address the range of philanthropic aspects of their clients’ financial lives.”
Mr. Foltz brings a unique background to Foundation Source spanning management consulting, tech-focused private equity, and early-stage technology leadership. Most recently, he co-founded Vennfi, a Y Combinator-backed WealthTech venture which helped launch industry leading donor-advised fund Charityvest with a frictionless giving experience designed to increase generosity. Vennfi was acquired by Foundation Source in October 2024. Assuming the role from Steve Aponte, Mr. Foltz works closely with the CEO, board of directors, and a team of experienced product professionals.
Prior to his work in PhilTech, Mr. Foltz led product for VacationFutures, an early-stage specialty finance company which was later acquired by TravelNet, and was an investment associate at San Francisco-based Serent Capital, focusing on acquisitions of founder-led businesses in fintech, compliance tech, and hospitality tech. He began his career as a business analyst at McKinsey & Company, advising private equity sponsors on potential investments and fund strategy as a member of the firm’s Principal Investing practice.
“I’m honored to join the team at Foundation Source during this exciting period of growth and innovation for the company,” said Mr. Foltz. “We hope that, by placing our existing best-in-class philanthropic solutions in the hands of the nation’s leading wealth managers, we can catalyze an immense amount of charitable activity while allowing advisors to deepen their client relationships in the process.”
About Foundation Source (foundationsource.com)
Foundation Source is the leading provider of enterprise-caliber and technology-led charitable giving solutions. At the forefront of PhilTech, Foundation Source is the partner of choice for flexible software and services that offer end-to-end support for private foundations, donor-advised funds and planned giving. We offer a range of purpose-built, cloud-based platforms that facilitate all stages of giving and a configurable suite of administrative, compliance, tax, and philanthropic advisory services for donors, nonprofits and charities, and professional advisors, including RIAs and financial institutions serving wealth management and private banking clients.
With 65 years of combined experience, Foundation Source empowers people and companies to create a better world through philanthropy. We support more than 4,000 charitable organizations, administer more than $26 billion in foundation assets, and facilitate more than 160,000 grants and planned gifts annually.