Foundation Source Achieves Major Milestone in Formation of New Private Foundations

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.”