Foundation Source has launched Foundation Source Access, an online platform that connects non-profits with private foundations. The platform will help non-profits convey their funding needs directly to Foundation Source clients, while simultaneously enabling foundations to get project information directly from non-profits.
The typical non-profit spends between 20 and 25 cents of each dollar on fundraising, diverting time and resources away from its core mission and purpose, according to Foundation Source. The private foundation community continues to demonstrate a pressing need for a simpler way to find and fund worthy charitable causes, it said.
“Foundation Source Access encourages nonprofits searching for new funding sources to look beyond the largest institutional foundations and extend their reach to the largely untapped market of small and medium-sized foundations run by individuals and families,” said Andrew Bangser, president of Foundation Source.
More than 600 non-profits have signed up for Access so far.
Foundation Source provides back-office, support and online services to private foundations. Its 1,000 private foundation clients represent over $4 billion in foundation assets.