Foundation Source Names Andrew C. Bangser President

FAIRFIELD, Conn.--(Business Wire)--
Foundation Source, the nation`s leading provider of support services for private
foundations, today announced that Andrew C. Bangser has been promoted to the
position of President. Formerly the company`s Chief Operating Officer, Mr.
Bangser has been serving in a senior leadership role with the company since
September, 2001.

Commenting on the promotion of Mr. Bangser, Daniel M. Schley, Foundation Source
Executive Chairman, said, "Andy has been instrumental in the evolution of
Foundation Source since its inception. In recent years he has assumed increasing
responsibility and oversight as the company has evolved from an administrator of
private foundations to a full-service provider of private foundation services.
Today, as the company approaches 1,000 private foundations under management, and
with an ever-increasing array of products and services to attract the next
generation of foundation families, it was time to make this significant change
in our leadership structure to have Andy lead us forward."

Added Mr. Bangser, "The demands of the 21st century private foundation are a
remarkable departure from foundations of the past. Today, foundation families
expect ever-higher levels of service and support. At Foundation Source, we have
spent nearly ten years perfecting a systematic approach to setting up and
operating private foundations. We help families realize the full flexibility and
control that only a private foundation offers, and we continue to increase our
investment in the development of new products and services to meet the needs of
donor- and family-led foundations. In the end, our clients, and surely the
non-profits they support, will benefit greatly."

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation`s leading provider of services for private
foundations. The company`s back-office, online and support services ease the
burden, freeing foundations to focus more on mission, strategy and family
priorities and less on back-office administration and compliance tasks. The
result: better run foundations with greater social impact. Foundation Source was
recently named Philanthropic Group of the Year by the editors of Private Asset
Management.

Today, Foundation Source provides its full range of award-winning services to
nearly 900 private foundations coast-to-coast, representing over $3.2 billion in
foundation assets. Foundation Source provides its services through partnerships
with the nation`s leading private wealth management firms, trust and estate
attorneys and CPAs. The company is headquartered in Fairfield, CT with regional
offices in Atlanta, Boston, Chicago, Denver, New York City, Philadelphia, Salt
Lake City, San Francisco and Seattle.

Foundation Source is a registered trademark of Foundation Source Philanthropic
Services Inc.

All rights reserved.

Foundation Source
Tom Weinbaum, 203-319-3731
tweinbaum@foundationsource.com

Copyright Business Wire 2009