FOUNDATION SOURCE NAMES MICHAEL P. BEVILLE CHIEF REVENUE OFFICER

Industry veteran brings a combination of nonprofit and technology experience

FAIRFIELD, Conn., July 11, 2023 /PRNewswire/ -- Foundation Source, the nation's largest provider of management solutions for private foundations, today announces the appointment of Michael P. Beville as Chief Revenue Officer (CRO) and a member of the company's executive team. Mr. Beville joins the company at a time when it is poised to embark on its next stage of growth. He will play a pivotal role in that effort, leading the nationwide sales and revenue functions across all of Foundation Source's diversified offerings and segments. He will report directly to President and Chief Executive Officer, Sunil Garga.

Mr. Beville joins Foundation Source from Blackbaud (NASDAQ: BLKB), a leading provider of cloud software solutions for the social good industry, where most recently he held the position of Vice President, Global Sales Strategy. He brings a unique combination of nonprofit sector and technology experience to his new position, and a 20-year track record of success in generating revenue growth, driving operations, leading teams, and delivering results.

"We are thrilled to welcome Mike to our team at this exciting time for Foundation Source," said Garga. "He brings strategic leadership and experience with nonprofit solutions and technology that will help us accelerate our growth."

During his 18-year tenure at Blackbaud, Mr. Beville was responsible for transformational sales leadership and delivering significant results across the global GTM function. Of particular note, he led the transition of the MicroEdge acquisition, creating a new business vertical called Corporations and Foundations, and was a member of Blackbaud's Global Management team and an executive sponsor of its Leadership Advisory Council. In 2019, he was President and General Manager of Benefitfocus, a technology platform unifying the U.S. benefits industry to protect consumers' health, wealth, and lifestyle. Additionally, he has been an advisor and investor in SaaS start-ups including Loop VOC, Whim, and Rule5.

"I have long admired Foundation Source's model, which combines tech with a full-service offering and can serve both staffed and unstaffed foundations at every stage of their life cycles, and the advisors who support them," said Beville. "I'm excited about advancing that mission, optimistic about what we can achieve, and eager to get started."

Mr. Beville assumes the role from Mary Ann Stover, a 17-year veteran of Foundation Source who was instrumental to the company's significant growth and evolution over the past two decades. Ms. Stover will move into a senior advisory role with the firm.

About Foundation Source (www.foundationsource.com)
Foundation Source is the nation's largest provider of foundation management services and a trusted source for philanthropic expertise. We offer purpose-built software applications and a configurable suite of tech-enabled administrative, compliance, tax and advisory solutions for private philanthropists and their foundations.

For more than two decades, Foundation Source has been empowering people and companies to create a better world through philanthropy. We work with individuals, families, boards and professional advisors to bring philanthropic visions to life and make giving easier. Today we are proud to support more than 2,000 unique foundations representing over $22 billion in charitable assets.

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