Technology

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

Published

3 months ago

October 17, 2024

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

Technology

StorageUnits.com: 4 in 10 Americans Are Stockpiling Goods in Fear of Tariffs

Published

2 hours ago

January 15, 2025

Americans prepare for anticipated economic shifts under President-elect Donald Trump.

SEATTLE, Jan. 15, 2025 /PRNewswire-PRWeb/ — StorageUnits.com, a reliable and user-friendly platform for finding the best and most convenient storage facilities, recently published findings from a December 2024 survey examining Americans’ preparedness in response to anticipated economic shifts under President-elect Donald Trump. The survey of 1,750 U.S. residents highlights significant stockpiling activity and large purchases.

According to the survey, 28% of Americans are actively stockpiling goods, with another 17% planning to start soon. Household essentials (78%) and non-perishable foods (78%) rank as the most commonly stockpiled items, while 20% of respondents say they are stockpiling a year’s supply or more. Among active stockpilers, 15% have already spent over $1,000, and 7% are using rental storage units to manage their surplus goods.

Fear of tariffs is a key driver behind this behavior, with 9 in 10 respondents expressing concern about how Trump’s proposed tariffs will impact the cost of goods. The survey also reveals that 1 in 3 Americans have made or plan to make large purchases—such as electronics, appliances, and cars—before Trump takes office, citing his election as a significant influence on their decisions.

This survey, commissioned by StorageUnits.com and conducted online via Pollfish in December 2024, collected responses from 1,750 U.S. residents. To view the study write-up, please visit: https://www.storageunits.com/4-in-10-americans-are-stockpiling-goods-in-fear-of-tariffs/

StorageUnits.com is an emerging startup dedicated to helping consumers across the United States discover the best and most convenient storage options in their local communities. The website provides comprehensive resources and tools for traditional self-storage, full-service storage, and moving solutions. For more information, please visit http://www.storageunits.com.

Media Contact

Amanda Baker, StorageUnits.com, 000-0000, amanda@storageunits.com

View original content:https://www.prweb.com/releases/storageunitscom-4-in-10-americans-are-stockpiling-goods-in-fear-of-tariffs-302350222.html

SOURCE StorageUnits.com

Technology

InventHelp Inventors Develop New Solar Phone Charging Resort Table (LOS-249)

Published

2 hours ago

January 15, 2025

PITTSBURGH, Jan. 15, 2025 /PRNewswire/ — “We thought there should be a way to charge your phone or other mobile device while lounging at the pool,” said one of two inventors, from Newbury Park, Calif., “so we invented the SOLAR PHONE CHARGING RESORT TABLE. Our convenient and environmentally-friendly design eliminates the need to find a traditional outlet or power source for charging your phone.”

The patent-pending invention provides an improved poolside table for resorts, hotels, and cruise ships. In doing so, it allows users to charge their smartphones and other mobile devices. As a result, it increases convenience, and it could enhance the guest experience. The invention features a durable and waterproof design that is easy to use so it is ideal for hotels, resorts, cruise lines, etc.

The original design was submitted to the Los Angeles sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 23-LOS-249, InventHelp, 100 Beecham Drive, Suite 110, Pittsburgh, PA 15205-9801, or call (412) 288-1300 ext. 1368. Learn more about InventHelp’s Invention Submission Services at http://www.InventHelp.com.

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SOURCE InventHelp

Technology

National Business Research Institute recognizes OHIO PETERBILT

Published

2 hours ago

January 15, 2025

OHIO PETERBILT earns a place in NBRI’s Circle of Excellence

PLANO, Texas, Jan. 15, 2025 /PRNewswire-PRWeb/ — The National Business Research Institute (NBRI) is pleased to welcome OHIO PETERBILT to the NBRI Circle of Excellence!

The NBRI Circle of Excellence Award recognizes organizations that demonstrate high levels of Customer Experience through rigorous, science-based customer research. Organizations must score at or above Stretch Performance at the 75th percentile of their industry or improve by five (5) or more percentiles over the previous year, which is no small feat.

OHIO PETERBILT is compared to or benchmarked against its industry, which is a subset of NBRI’s robust database of survey answers. OHIO PETERBILT is performing at the 71st percentile. NBRI commends the leadership of OHIO PETERBILT for their commitment to science-based Customer research and continuous improvement of its Customer Experience.

OHIO PETERBILT embraces the Best Practice of continually assessing and targeting the variables that drive Overall Satisfaction and Intent to Return. NBRI’s advanced statistical modelling of OHIO PETERBILT’s data, provides OHIO PETERBILT with the keen insight and actions necessary for the continuous improvement of Customer attitudes, behavior, and experience.

“Great business leaders understand how exceptional Customer experiences improve business performance. They take the time to listen to their Customers, identify and tackle important business issues, and create interactions that build customer loyalty,” says Steve Moylan, President at NBRI. “OHIO PETERBILT PETERBILT’s high achievement in earning this distinguished award is a direct result of OHIO PETERBILT PETERBILT’s dedication to measuring and improving its Customer Experience.”

About OHIO PETERBILT

OHIO PETERBILT, a division of Ohio Machinery Co., is a leading Peterbilt dealership with ten locations across the state. It serves the trucking industry with a commitment to quality service, sales, and support and provides a wide range of solutions for fleets and owner-operators, from conventional diesel trucks to the latest in electric vehicle technology.

About NBRI

NBRI conducts science-based Employee, Customer, and Market Research for businesses, and uses this data to help organizations leverage these human insights to make improvements to operations and strategy. With extensive experience across industries, NBRI’s research teams provide clients a combination of deep industry knowledge and expert advice. NBRI’s mission is to help its clients set new standards of Ohio Peterbilt in their industries. NBRI offers full-service business research and consulting ensuring NBRI clients focus on the most impactful issues to improve performance and unlock growth.

National Business Research Institute, Inc.

3300 Dallas Parkway; Suite 200

Plano, TX, 75093

972-612-5070

1-800-756-6168

www.nbrii.com

OHIO PETERBILT

900 Ken Mar Industrial Pkwy,

Broadview Heights, OH 44147

(440) 526-0520

ohiopeterbilt.com

Media Contact