Foundation Source acquires PFS to expand philanthropic platform in U.S.
CONNECTICUT, UNITED STATES — Foundation Source, a provider of philanthropic software and services in the United States, has acquired San Francisco-based Pacific Foundation Services (PFS). Terms of the acquisition were not disclosed.
Expanding services
The integration allows PFS clients to access Foundation Source’s advanced cloud-based platform, offering services that include legal and compliance support, tax solutions, and deep programmatic consulting.
“Together, this integration enhances our collective ability to support private foundations and their advisors with deep, strategic insight, sector knowledge and tailored guidance,” said Foundation Source CEO Joseph Mrak III.
Charles R. Casey, CEO of PFS, will join Foundation Source in a senior leadership role as President of Premier Foundation Services, along with his entire team.
“This partnership marks an exciting new chapter – one that enhances the giving experience for our clients and has the potential to leave a lasting and positive impact on the sector,” Casey said.
Founded in 1987, PFS provides philanthropic strategy, grant management, and enhanced accounting support for some of the Bay Area’s largest foundations. PFS facilitates over $1 billion in grantmaking annually and brings decades of experience working with complex foundation needs.
Rapid growth through strategic acquisitions
This marks Foundation Source’s fourth strategic acquisition in 18 months. Previous deals include fintech platform Vennfi, donor software company PG Calc, and Giving Place, a giving platform for family offices.
Backed by private equity firm GTCR, Foundation Source is building a vertically integrated platform for all major charitable vehicles, serving over 2,300 private foundations and 1,800 nonprofits.
“Pacific Foundation Services is a highly strategic addition,” said Lizzie Wintle, Director at GTCR. “The combined platform is uniquely positioned to serve the evolving needs of the sector with scale, expertise, and impact.”
The deal deepens Foundation Source’s reach among large private foundations and expands its charitable assets under administration to nearly $40 billion. It also strengthens the company’s position as a provider of foundation management services and increases its annual charitable fund deployment to over $2.7 billion.
It also brings together two mission-driven firms focused on enabling high-impact giving through modern tools, strategic advisory, and grantmaking support.
