Foundation Source Achieves Major Milestone in Formation of New Private Foundations

Added Andrew C. Bangser, Foundation Source president, “Year over year, our company’s share of newly formed private foundations continues to grow. We are particularly pleased to have crossed over the 10% threshold in 2007. Based on our company’s continued growth in 2008, even in the face of a declining economy, we anticipate significant growth in market share once again when the-more-2008 data is published later this year. I am confident that our transformative approach to the setup and operation of the private foundation will remain very compelling, and in time more and more wealth advisors, attorneys and trusted advisors will look to Foundation Source as their operating partner.”

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 burden, freeing foundations to focus more 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 named Philanthropic Group of the Year by the editors of Private Asset Management.

Today, Foundation Source provides its full range of award-winning services to nearly 900 private foundations coast-to-coast representing over $3.2 billion in foundation assets. Foundation Source 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, Chicago, Denver, New York City, Philadelphia, Salt Lake City, San Francisco and Seattle.