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FOUNDATION SOURCE ACQUIRES VENNFI, THE FINTECH POWERING DONOR-ADVISED FUND CHARITYVEST

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Acquisition expands Foundation Source’s range of enterprise-grade, tech-enabled offerings with donor-advised fund and workplace giving capabilities 

Reinforces Foundation Source as the leading provider of turnkey philanthropic solutions 

FAIRFIELD, Conn., Oct. 17, 2024 /PRNewswire/ — Foundation Source, the nation’s largest provider of cloud-based solutions for private foundations and planned giving, today announced it acquired Vennfi, the financial technology company powering Charityvest, an industry-leading donor-advised fund (DAF) sponsor. Foundation Source will harness the DAF functionality to deliver modern giving experiences and create new opportunities for innovation and growth in the philanthropic sector.

“With this acquisition, Foundation Source can now offer a DAF platform with an intuitive and frictionless user experience that sets a new industry standard for technology innovation,” said Joseph Mrak III, CEO of Foundation Source. “This strategic acquisition is an important milestone in Foundation Source’s mission to make giving easier and more impactful, and we’re excited to make these philanthropic solutions widely available to help people and companies drive change.”

The deal will broaden Foundation Source’s suite of offerings and accelerate the delivery of giving solutions across the wealth management industry through a turnkey private label platform that will make offering and administering a donor-advised fund easier and more efficient for DAF sponsors, broker-dealers, independent RIAs and other financial services organizations. The acquisition also includes a workplace program that allows employers to streamline corporate and employee giving efforts.

“As financial advisors and wealth management firms look for ways to differentiate themselves beyond traditional investment advisory expertise, a full set of philanthropic capabilities is essential for holistic client engagement,” Mr. Mrak continued.

Through this transaction, Foundation Source reinforces its position as the leader in philanthropic technology, administration, and professional services. Building on its market-leading suite of capabilities, Foundation Source will be the only provider to deliver scalable, end-to-end digital solutions across private foundations, planned giving, and donor-advised funds, making it the optimal choice for professional advisors, and financial institutions serving wealth management and private banking clients.

“Our organizations share a commitment to provide wealth managers and their clients with easier access to collaborative giving tools and resources,” said Vennfi CEO, Stephen Kump. “After a highly collaborative and exploratory process over many months, it became clear that, together, we can catalyze more giving by making it more accessible, secure, and efficient for more people. We are enormously excited to join the Foundation Source team to unlock even more purposeful giving in the years ahead.”

The Charityvest DAF program was launched to the public in December 2019 as a partnership between Vennfi, a financial technology company, and Charityvest, Inc., a 501(c)(3) public charity and donor-advised fund sponsoring organization. Following Foundation Source’s acquisition of Vennfi, Charityvest, Inc. will continue to operate as a separate, independent entity, managed by its own Board of Directors. Foundation Source technology will power the Charityvest DAF program, the turnkey DAF platform, and the workplace giving program.

“We are grateful for the past partnership with Vennfi and look forward to working closely with Foundation Source to harness additional capabilities to help our donors give more, and give more purposefully,” said Paul Glyer, Secretary of Charityvest, Inc.

The management team of Vennfi, led by Mr. Kump, will join Foundation Source, contributing their expertise and insights to sustaining a world-class client experience and the continued expansion of the combined entity.

Earlier this year, Foundation Source announced the acquisition of planned giving software and services leader, PG Calc, as part of its growth strategy to build a single platform for a wide range of flexible, popular, tax-advantaged resources that make giving easier.

The transaction was completed on October 17, 2024. The terms of the transaction were not disclosed.

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 turnkey software and services that offer end-to-end support for donor-advised funds, planned giving and private foundations. 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.

About Vennfi
Vennfi Inc. is a financial technology company enabling the future of purposeful philanthropy. Its flagship offering is a next-generation, technology-enabled administrative solution for 501(c)(3) donor-advised fund sponsors, first launched in partnership with Charityvest Inc. in 2019. Headquartered in Atlanta, GA, Vennfi is backed by Y Combinator, Sovereign’s Capital, Teamworthy Ventures, and others.

About Charityvest (charityvest.org)
Charityvest, a donor-advised fund (DAF) sponsor, is on a mission to catalyze generosity via modern technology. It endeavors to enable everyone to engage more in philanthropy—to give, to give more, and to give better. In addition to serving individual and corporate donors, Charityvest partners with leading financial advisors and workplaces to launch modern giving programs for their stakeholders. Charityvest is headquartered in Atlanta, GA. For more information, or to start your personal giving account, please visit charityvest.org.

MEDIA CONTACT
Carly Taylor
foundationsource@neibartgroup.com
973-618-6993

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SOURCE Foundation Source

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Ellucian Announces Dr. Paul LeBlanc as Ellucian Live 2025 Mainstage Speaker

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Former SNHU president, co-founder of Matter and Space, and higher ed thought leader will share how AI is shaping the future of education

RESTON, Va., Jan. 15, 2025 /PRNewswire/ — Ellucian, the leading higher education technology solutions provider, today announced that Dr. Paul J. LeBlanc, renowned educator, author, innovator, former President of Southern New Hampshire University (SNHU) and current Board Chair and Co-Founder of Matter and Space, will speak at Ellucian Live 2025, the industry’s premier global technology conference. Dr. LeBlanc, who has decades of experience transforming higher education with technology, will share insights on the future of education, the role of AI in shaping student success and the continued modernization of higher education institutions.

Dr. LeBlanc recently joined Ellucian’s Board of Directors and is widely regarded as one of America’s most innovative educators. He led SNHU for 21 years, growing the institution from 2,800 students to over 250,000 and establishing SNHU as the largest non-profit provider of online higher education in the U.S. During his tenure, Dr. LeBlanc championed the use of technology to expand access, improve student engagement and scale educational opportunities. In 2023, Dr. LeBlanc co-founded a new company with George Siemens called Matter and Space, which is reinventing learning in the age of AI by putting human well-being, connectedness, and flourishing at the center of work.

“Dr. LeBlanc’s visionary leadership has redefined what is possible in higher education, and we are honored to have him join the Ellucian Live mainstage to inspire thousands of professionals across the industry,” said Laura Ipsen, President and CEO, Ellucian. “His transformative work harnessing emerging technologies has set a new benchmark for student success and education accessibility, and he will provide valuable insights to our community.”

The conference will include a large focus on the transformative potential of AI in higher education, and Dr. LeBlanc’s leadership and expertise will guide institutions as they work to integrate this powerful technology to drive student success, operational efficiency and institutional sustainability now and in the future.

Ellucian Live 2025 will be held April 6-9, 2025 at the Orange County Convention Center in Orlando, bringing together the largest global community of institutional leaders, technologists and administrators in higher education to discover game-changing solutions, industry insights, and powerful connections.

Click here for more information on Ellucian Live 2025 and registration details.

ABOUT DR. PAUL J. LEBLANC

Dr. Paul J. LeBlanc is the former president of Southern New Hampshire University (SNHU). From 2003 to 2024, under Paul’s leadership, SNHU grew from 2,800 students to over 250,000 learners and is the largest nonprofit provider of online higher education in the country.

The university was #12 on Fast Company magazine’s “World’s Fifty Most Innovative Companies” list and was the only university included. Forbes Magazine has listed him as one of its 15 “Classroom Revolutionaries” and one of the “most influential people in higher education.” Washington Monthly named him one of America’s ten most innovative university presidents. In 2018, Paul won the prestigious TIAA Institute Hesburgh Award for Leadership Excellence in Higher Education, joining some of the most respected university and college presidents in American higher education.

Paul served as Senior Policy Advisor to Under Secretary Ted Mitchell at the U.S. Department of Education, working on competency-based education, new accreditation pathways, and innovation. He serves on the National Advisory Committee on Institutional Quality and Integrity (NACIQI) and on the National Academies of Sciences, Engineering and Medicine’s Board on Higher Education and Workforce (and served on its Committee on Quality in Undergraduate Education).

Paul is the Board Chair for Matter and Space, an AI and Education company he co-founded with noted researcher George Siemens. He is also a member of the Board of Directors for Chegg, a leading student-first online learning platform, Ellucian, the leading higher education technology solutions provider, the American Council on Education (ACE), and chairs the AGB Council of Presidents.

Paul immigrated to the United States as a child, was the first person in his extended family to attend college and is a graduate of Framingham State University (BA), Boston College (MA), and the University of Massachusetts (PhD). From 1993 to 1996 he directed a technology start up for Houghton Mifflin Publishing Company, was President of Marlboro College (VT) from 1996 to 2003 and became President of SNHU in 2003. His wife Patricia is an attorney and they have two daughters, Emma and Hannah.

ABOUT ELLUCIAN

Ellucian powers innovation for higher education, partnering with more than 2,900 customers across 50 countries, serving over 20 million students. Ellucian’s AI-powered platform, trained on the richest dataset available in higher education, drives efficiency, personalized experiences, and strengthened engagement for students, faculty and staff. Fueled by decades of experience with a singular focus on the unique needs of learning institutions, the Ellucian platform features best-in-class SaaS capabilities and delivers insights needed now and into the future. These solutions and services span the entire student lifecycle, including data-rich tools for student recruitment, enrollment, and retention to workforce analytics, fundraising, and alumni engagement. Ellucian’s innovative solutions, vast ecosystem of partners and user community of more than 45,000 provides best practices leading to greater institutional success and achieving better student outcomes.

Media Contact
Jess Weston
Jess.Weston@ellucian.com

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SOURCE Ellucian

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Pye-Barker Fire & Safety Builds Full-Service Foothold in the Midwest, Acquiring A1 Sprinkler & Systems Integration

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ATLANTA, Jan. 15, 2025 /PRNewswire/ — Pye-Barker Fire & Safety – the largest fully integrated and full-service fire protection, life safety and security services provider in the United States – has acquired A1 Sprinkler & Systems Integration, a fire protection, alarms and security services company in the Midwest. Based in Miamisburg, Ohio, A1 services commercial and manufacturing customers in Ohio, Indiana and Kentucky. Pye-Barker has gained traction in these states by partnering with values-aligned organizations to deliver full fire code compliance throughout the Midwest.

“Our shared commitment to our teams will allow us to expand our customer reach together.”

A1 Sprinkler & Systems Integration got its start in 1982, originally specializing in fire sprinklers before expanding to include the full scope of life safety systems. With a focus on code compliance and integrated systems, A1 designs, installs and services sprinkler, suppression, security and fire alarm, CCTV, access control and mass notification systems. The company also conducts workplace safety training, fire extinguisher service and 24/7 central station monitoring.

Built on a culture of team cooperation and accountability, A1 is devoted to uncompromising quality, continuous learning and development, and giving back to the communities it serves.

“The A1 team is comprised of individuals who are hungry to learn, grow and serve others, enabling our success as an organization,” said Bill Hausmann, A1 President. “Knowing our team and customers will be cared for by Pye-Barker, an organization that holds our same values, makes me confident in taking this next step for A1.”

“A1’s trajectory – from a fire sprinkler shop to providing full-service protection – shows how commitment to culture and investing in your team members leads to high-velocity growth,” said Bart Proctor, Pye-Barker CEO. “Our shared commitment to our teams will allow us to expand our customer reach together, and being part of Pye-Barker will create additional opportunities for A1’s team members to progress in their careers.”

The A1 team of technicians will continue to service customers in the Midwest. Pye-Barker was represented by Nelson Mullins Riley and Scarborough LLP in this transaction.

About Pye-Barker Fire & Safety

The U.S. leader in fully integrated life safety systems, Pye-Barker Fire & Safety provides complete fire protection and security systems nationwide. With over 250 locations and 8,000 team members nationwide, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100.

Visit pyebarkerfs.com/acquisitions to learn why we’re the industry’s acquirer of choice.

Contact:
Rod DiBona
VP, Business Development
605.348.2342
rod.dibona@pyebarkerfs.com

Media:
Alycia Volpe
media@pyebarkerfs.com

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SOURCE Pye-Barker Fire & Safety

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Shelley Stewart Jr. Elected as New Board Chair of The Executive Leadership Council

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WASHINGTON, Jan. 15, 2025 /PRNewswire/ — The Executive Leadership Council (ELC) announced today that Shelley Stewart Jr., Managing Partner of Bottom Line Advisory, LLC, has been elected as the new Chair of The ELC Board of Directors. Stewart, a dedicated member of The ELC since 1997, will assume his new role immediately, succeeding Gale V. King.

Shelley Stewart Jr. is a dynamic leader whose decades of experience as a senior executive, board member, and mentor have been instrumental in advancing business excellence,” said Michael C. Hyter, President and CEO of The ELC. “We have no doubt that his leadership will help us achieve new milestones in strengthening corporate leadership pipelines, fostering inclusive practices for all, and driving meaningful impact.”

With a career spanning over 40 years, Stewart has held senior executive positions at industry-leading organizations, including DuPont de Nemours, Inc., and Tyco International, where he was Chief Procurement Officer and involved in M&A strategy, as well as Invensys, Raytheon, and United Technologies (now Raytheon Technologies) where he played a key role in shaping operations, supply chain strategy, and global procurement. As Managing Partner of Bottom Line Advisory, LLC, Stewart has continued to guide organizations in unlocking value through procurement strategy and supply chain innovation.

“The Executive Leadership Council has been at the forefront of cultivating inclusive leadership in global corporations for nearly four decades,” said Stewart. “It is an honor to step into the role of Chair and collaborate with our members, sponsors, and corporate partners to drive impactful change.”

Stewart brings extensive leadership experience and a commitment to fostering growth. He currently serves on the boards of Otis Worldwide, Kontoor Brands, and Clean Harbors, where he serves on multiple committees. Stewart is a Trustee of Northeastern University and Howard University. At Howard University he chairs the Board of Visitors for the Howard University School of Business. He serves on the advisory board for its Center of Excellence in Supply Chain Management that he founded. His dedication to creating pathways for students has attracted partnerships with Fortune 500 companies, providing access to career opportunities in business and in particular the supply chain.

Stewart holds a Master of Business Administration from the University of New Haven and bachelor’s and master’s degrees in criminal justice from Northeastern University. He is also the co-author of “Straight to the Bottom Line: An Executive’s Roadmap to World-Class Supply Management.”

ABOUT THE EXECUTIVE LEADERSHIP COUNCIL
The Executive Leadership Council represents Black CEOs and executives globally and champions excellence and advancement in corporate leadership.

For more information, visit www.elcinfo.com.

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SOURCE The Executive Leadership Council

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