Foundation Source Achieves Major Milestone in Formation of New Private Foundations
o Online Grantmaking – pioneered and perfected by Foundation Source with the debut of Foundation Source Online, the company’s award-winning online platform for research, tracking, granting and reporting
o Grants to Individuals – through coordination with the IRS, Foundation Source clients are able to easily grant funds directly to individuals for emergency, hardship and medical purposes.
o No- Interest Loans – in a recent innovation, Foundation Source launched its “Mortgage Assistance Program” enabling private foundations to provide direct financial assistance to families under the threat of foreclosure.
o Grant Certificates – philanthropic “gift certificates” that allow foundation families to give the joy of giving to others.
o International Grants – routine under the Foundation Source banner.
* Family Engagement – with the modern family as likely to be geographically distributed as they are to be connected via the Internet, Foundation Source has taken a novel approach to bringing foundation families together. The key: Foundation Source Online - the company’s award-winning internet platform that welcomes multiple generations to participate in the family philanthropy through a web site customized and configured for each Foundation Source family.
For over a century, private foundations have been the philanthropic vehicle of choice for the nation’s most prominent families, and for good reason,” said Daniel M. Schley, Foundation Source executive chairman. “It is widely understood in philanthropic circles that the private foundation offers families by far the most flexibility and control of any form of ‘organized philanthropy,’ including donor-advised funds and community foundation accounts. Historically, however, the flexibility and control that were the hallmarks of the private foundation were offset in part by the cost and effort to set up and operate the foundation. Today, that’s all changed. The 21st century foundation, the Foundation Source Foundation, is a hallmark of simplicity and efficiency. Now, charitable families can choose the philanthropic vehicle that’s right for them without regard for cost or operation.”