CHARITABLE GIVING CONTINUES TO GROW, DRIVEN BY GREAT WEALTH TRANSFER AND EXPANDING PHILANTHROPIC TOOLKIT

News provided by

Nov 19, 2024, 08:00 ET

Foundation Source CEO Joe Mrak shares trends and outlook for philanthropy in 2025

FAIRFIELD, Conn., Nov. 19, 2024 /PRNewswire/ -- Foundation Source, the nation's largest provider of scalable PhilTech solutions across private foundations, donor-advised funds and planned giving, today released The Growing Power of Giving: An Outlook from Foundation Source CEO Joe Mrak, which analyzes recent charitable giving activity and outlines the salient trends that will impact the philanthropic ecosystem in 2025.

Joe Mrak, Chief Executive Officer, Foundation Source

Generosity in 2024 has been impressive to date. Foundation Source's private foundation clients have granted more than $865 million to nearly 19,000 recipients through the end of September, on pace to match or exceed giving in previous years. The firm predicts that the combination of market performance and the high volumes of grantmaking that occur in November and December will generate strong overall giving for the year. As clients get their final dollars out the door in 2024 and plan their giving for 2025, Foundation Source is watching:

The growing popularity of organized giving and the power of a varied philanthropic toolkit
The rising influence of the next generation and the ways they are redefining philanthropy
The potential of advanced technologies to tackle challenges and make giving easier

"It's an exciting time for the philanthropic sector. The rise of organized philanthropy, the aspirations of the next generation of givers, and the potential for technology all promise to make charitable giving easier and more efficient for donors, nonprofits and charities, and the financial advisors and institutions serving them," said Mrak.

To further support year-end generosity, Foundation Source has also released its annual Guide to the Giving Season with a kit of resources for donors, advisors, and fundraisers to inspire creative, thoughtful and tax-wise gifts during the final months of 2024 and beyond. The guide offers extensive data, expert insights, and practical tips to help plan and deploy gifts strategically.

"We are inspired by the volume of activity we have seen during the giving season so far and we hope these resources will help further boost impact," Mrak said. "We remain committed to empowering people and companies to create a better world through philanthropy and look forward to enhancing and expanding the way our clients can give in 2025."

The full 2025 Giving Outlook can be viewed here and the 2024 Guide to the Giving Season resources are available here.

About Foundation Source (foundationsource.com)
Foundation Source is the leading provider of enterprise-caliber and technology-led charitable giving solutions. At the forefront of PhilTech, Foundation Source is the partner of choice for flexible software and services that offer end-to-end support for private foundations, donor-advised funds and planned giving. We offer a range of purpose-built, cloud-based platforms that facilitate all stages of giving and a configurable suite of administrative, compliance, tax, and philanthropic advisory services for donors, nonprofits and charities, and professional advisors, including RIAs and financial institutions serving wealth management and private banking clients.

With 65 years of experience, Foundation Source empowers people and companies to create a better world through philanthropy. We support more than 4,000 charitable organizations, administer more than $25 billion in foundation assets, and facilitate more than 120,000 grants and planned gifts annually.

MEDIA CONTACT
Carly Taylor
[email protected]
973-618-6993

SOURCE Foundation Source