FAIRFIELD, Conn., Feb. 4, 2015 (GLOBE NEWSWIRE) -- Foundation Source, the nation's largest provider of comprehensive services for private foundations, announced today that the company had been awarded the 2015 Award for Best Philanthropic/Educational Initiative by Private Asset Management at the publication's New York City award dinner. This is the third PAM Award earned by Foundation Source.
The award, which recognizes excellence for professionals operating within the private asset management industry, was based on Foundation Source's continued thought leadership in the philanthropic sector. In recent years, Foundation Source has emerged as a leading source for industry intelligence about private foundations with assets of $50 million or less. Foundations of this size account for over 98% of all U.S. private foundations.
In 2014, Foundation Source released its third Annual Report on Private Foundations, as well as Trends in Private Foundation Investment, the first large-scale study to look at national investment trends in private foundations with less than $50 million in assets. This report was hailed as a powerful benchmarking tool for both financial advisors and their private foundation clients. In addition to these reports, Foundation Source contributed popular white papers, webinar series, articles, and field presentations.
"We are honored to receive our third Private Asset Management Award, especially given the field of well-known and distinguished nominees," said Robert Chartener, Chief Executive Officer of Foundation Source. "Although we are gratified to accept it, the award rightly belongs to our 1,200 clients whose collective efforts and ceaseless pursuit of excellence has inspired our own endeavors."
About Foundation Source (www.foundationsource.com)
Foundation Source is the nation's largest provider of comprehensive support services for private foundations, bringing specialized knowledge and expertise to clients across the country. The company's administrative services, online foundation management tools, and philanthropic advisory services provide a complete outsourced solution for private foundations. The result: better run, more effective foundations, and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.
Today, Foundation Source provides its services to more than 1,200 family, corporate, and professionally staffed foundations, of all sizes, nationwide. We work in partnership with wealth management firms, law firms, trust companies, multi-family offices, and accounting firms, as well as directly with individuals and families. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Boston, Denver, Los Angeles, New York City, Philadelphia, Phoenix, Seattle, San Francisco, South Florida, Washington, D.C., and Winston-Salem.
About the PAM Awards
The PAM Awards are presented annually by Private Asset Management, a financial services industry trade publication. The PAM Awards invites firms to compete for recognition in several categories by providing information regarding their business model, services offered, growth in client count and assets managed, countries of operation, service innovation, and performance. A panel of independent industry experts selects the nominees and winners based on a number of qualitative and quantitative performance indicators.