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Foundation Source Unveils Updated Non-Profit Web Marketplace

Harriet Davies

1 December 2011

Foundation Source has released an updated version of its web-based marketplace that allows small- and mid-size foundations and non-profits to connect.

Version 2.0 of Foundation Source Access will go live by the end of the year with a new user interface and look, and increased functionality, the firm says. The platform provides access to both national and regional non-profits, as well as local 501 public charities.

Using the platform, grant proposals can be submitted to many foundations simultaneously, rather than having to submit them on an individual basis to seek funding. While the initial version launched early this year was free, Foundation Source has now introduced a tiered charging scheme for non-profits to access this service, which it said it would do once usage reached a critical mass. It now has over 1,000 non-profits signed up.

On the foundation side, Access is focused on entities with $1-$50 million assets, which the firm claims is the fastest-growing segment in the philanthropy sector. Foundations can search by cause, non-profit category, geography and project size.

Version 2.0 has an expanded “Cause Pages” section, which are gateways to the most popular causes in philanthropy and also provide features such as news and comment sections to encourage dialog around these issues.

The launch of the site comes at a time when many providers are developing tools to improve the efficiency and transparency around philanthropic giving. For example, in October the Center on Philanthropy at Indiana University compiled a searchable database of over 60,000 gifts of $1 million and over donated by individuals, foundations and corporations since 2000, and made this freely available.

“The Million Dollar List” is a database of philanthropic gifts made, searchable by criteria including geography, dollar amount, type of charity, individual donor and organization name, and is intended to help advisors and philanthropists identify trends in giving, as well as funding gaps and even potential, like-minded partners to collaborate with. The project was made possible by the Bill & Melinda Gates Foundation.