When you set up a private foundation for your clients:
Enter Foundation Source. We’re a decades-old, third-party administrator for private foundations. After you set up the foundation for your client, we can provide ongoing services that support you both.
Your firm establishes the foundation, secures the EIN, and files the application for exempt status (IRS Form 1023). Your firm also creates the foundation’s policies, such as investment, expense, and conflict of interest policies.