Foundation Source, a provider of support services for private foundations, has announced that it had 74% growth last year in the number of foundations it serves and 129% growth in assets under administration.
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The Fairfield, Conn., company ended the year with 403 private foundation clients, with $1.3 billion of assets under administration, it said on Tuesday. During the year, it processed 4,325 grants and distributed more than $46 million to domestic and international charities on behalf of its clients.
The company also opened regional offices in Los Angeles, New York, Philadelphia, and Atlanta.
