Foundation Source Achieves Major Milestone in Formation of New Private Foundations
Foundation Center 2008 Report Confirms that 11.4% of All New Private, Non-Operating (family) Foundations formed in 2007 were formed on the Foundation Source Platform
FAIRFIELD, Conn., June 18, 2009 — Foundation Source, the nation’s leading provider of support services for private foundations, confirmed today that one out of every nine new private, non-operating foundations formed in the United States in the calendar year 2007 (the last year for which data is available) was formed on the Foundation Source platform. In determining its share of newly formed foundations, the company once again relied on data published in the Foundation Center’s annual report, Foundation Growth and Giving Estimates, which, in turn, is based on data published by the IRS.
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