Foundation Source, Envestnet Enter Partnership

Editorial Staff

11 September 2025

Foundation Source, which provides philanthropic solutions for donors, nonprofits, institutions, and the wealth advisors who serve them, is partnering with Envestnet.

The collaboration will equip advisors with innovative tools to streamline and scale charitable giving services across their practices, Foundation Source said.

On the Foundation Source side, the group has seen a number of changes. Chicago-headquartered private equity firm GTCR acquired Foundation Source in September 2023, paving the way for taking the group's activities up another level. This news service spoke to Joseph Mrak , CEO, in May 2024 about its strategy.

Envestnet has also been busy: the turnkey asset management program and provider of fintech-driven back-office services this week announced that it will be investing $1 billion in R&D projects over the next five years. In October 2024, Envestnet was taken private and is now owned by Bain Capital.

Under the agreement with Foundation Source, Envestnet will integrate the organization’s enterprise-grade technology – designed to support private foundations, donor-advised funds, and planned giving programs – alongside a suite of administrative, compliance, and tax services. Features include configurable dashboards providing aggregate views by firm, team, and advisor, along with reporting, collaboration tools, and workflows for grants management and impact measurement. Foundation Source will also enhance compliance oversight for participating firms.

"This integration addresses a critical resource gap and increases operational efficiencies so advisors can spend more time helping clients achieve their philanthropic goals with ease and confidence,” Mrak said.

As of June 30, 2025, Foundatioin Source supported more than 2,300 private foundations,18,000 donor-advised fund accounts, and 1,800 nonprofits, administered $40 billion in charitable assets, and facilitated more than 180,000 grants and planned gifts annually.