Foundation Source, a provider of cloud-based SaaS solutions and management services for private foundations, has acquired acquisition of PG Calc, a planned giving services and software firm for organizations seeking to start or grow a planned giving program.
The acquisition expands Foundation Source’s suite of charitable giving solutions enabling it to provide specialized support and expertise across the giving ecosystem — to donors and nonprofits and their various financial and philanthropic advisors – and reflects the company’s long-term commitment to make giving easier and more impactful.
“PG Calc is the gold-standard in cloud-based solutions for planned giving and recognized for its high-quality customer base and strong client retention,” said Joseph Mrak III, chief executive officer of Foundation Source via a statement. “Its position as a leader in this market makes them an ideal enhancement to our already robust offerings and sets the stage for us to become the leading provider of charitable giving technology, administration and expertise.”
Founded in 1985 in Cambridge, Massachusetts, PG Calc delivers state-of-the-art gift administration services and software, consulting, and marketing tools designed to support all aspects of a planned giving program. PG Calc works directly with nonprofits to identify and solicit prospective donors, improve planned giving programs, increase giving potential, and fulfill stewardship and compliance needs. The company also provides turnkey outsourced planned giving administrative services and software to financial institutions.
PG Calc’s client base includes the largest financial services companies and the top colleges and universities along with hospitals, religious groups, cultural and academic institutions, and other tax-exempt organizations. Foundation Source’s acquisition of PG Calc brings strong enterprise-level partnerships while extending the firm’s offerings into charitable gift annuities, pooled income funds, charitable trusts, bequests, and endowment sub-accounting, adding several new services for individuals and institutions.
Under the agreement, President Gary Pforzheimer and PG Calc’s employees will join the Foundation Source team, contributing their expertise and insight to sustaining a world class client experience and the continued expansion of the combined entity. Pforzheimer will become President of Planned Giving at Foundation Source.
“We are immensely proud of PG Calc’s growth over the last 40 years into a full suite of planned giving products meeting the administrative, compliance, fundraising and marketing needs of all types of nonprofits,” said Pforzheimer via a statement. “We’re excited about the intuitive synergies and common purpose we share with Foundation Source and are thrilled to combine our efforts to provide greater access to comprehensive software solutions that support charitable giving.”
“The enterprise-caliber technology solutions that have revolutionized investing and banking are needed to make giving a frictionless and intuitive experience,” added Mrak. “Together, we will raise the bar on PhilTech so donors and donees can collaborate more effectively, and advisors can provide truly holistic wealth management to their individual and institutional clients.”
No additional financial details were disclosed. The transaction was completed on February 1, 2024.
