For today’s foundation donors, philanthropy isn’t a hobby, it’s an investment. In order to achieve their goals, today’s donors need the right combination of technology, tools and talent without building costly, unnecessary infrastructure. To avoid wasting time, money and focus, many are outsourcing their foundation management needs.
Foundation Source was established to meet this need. Our work with over 2,000 foundations has revealed 10 benefits you can expect to receive by relying on Foundation Source for your back-office administration, technology, and support services:
1. You get everything you need in one place for one-stop shopping.
Some funders opt to assemble their own team of talent to help manage their foundations—from attorneys and accountants to philanthropic consultants. While this approach may be initially appealing, the time and effort required to oversee and coordinate a team of professionals often outweighs the benefits. Your foundation is important, but it’s not your full-time job. Plus, the advisors you currently work with may not have the expertise required to properly handle your private foundation business, potentially leading to errors and problems.
With Foundation Source, you get an entire team of foundation experts under one roof, all coordinated by a Private Client Advisor who knows you and your foundation. You get sophistication, resources and capabilities that were previously reserved for only a handful of the largest, professionally staffed foundations. And because all of your foundation needs are managed in one place, important tasks don’t “fall between the cracks.”