Foundation Source, the leading provider of philanthropic solutions for donors, nonprofits, institutions, and the wealth advisors who serve them, announced it has acquired Pacific Foundation Services (PFS), a foundation management organization based in San Francisco providing philanthropic strategy, grants management, and enhanced accounting support to some of the Bay Area's largest foundations. The transaction reinforces Foundation Source's position as the nation's premier provider of foundation management services and increases its charitable assets under administration to nearly $40 billion. It also boosts annual deployment of charitable funds to more than $2.7 billion.

PFS's unique capabilities complement Foundation Source's flagship tech-enabled offering for private foundations and their advisors, allowing the company to better serve large, complex foundations. The acquisition also allows PFS clients to leverage modern, cloud-based tools that help make giving easier and more cost-effective and access a wider range of philanthropic solutions including specialized legal, compliance and tax support.

"We're thrilled to welcome the talented and dedicated team at Pacific Foundation Services to Foundation Source," said Joseph Mrak III, CEO of Foundation Source. "Together, this integration enhances our collective ability to support private foundations and their advisors with deep, strategic insight, sector knowledge and tailored guidance. With our best-in-class technology, we offer a uniquely comprehensive solution for mission-driven organizations that want to maximize impact."

The combined organization will offer an extensive range of philanthropic advisory services, including program strategy and design, and a set of services to deepen grantee relationships including sourcing and diligence of grantees, application support, grant structuring and impact measurement. Following the transaction, the CEO Charles R. Casey joined Foundation Source in a new leadership role along with the entire PFS team.