FOUNDATION SOURCE NAMES LOU D'ADDARIO CHIEF REVENUE OFFICER AND WARREN BAILEY CHIEF INFORMATION SECURITY OFFICER

D'Addario to accelerate integration of PhilTech into financial enterprises

Bailey to expand upon existing security and risk management programs at a time of pivotal growth

FAIRFIELD, Conn., April 16, 2024 /PRNewswire/ -- Foundation Source, the nation's largest provider of cloud-based solutions for private foundations and planned giving, today announced the appointment of Lou D'Addario to Chief Revenue Officer and Warren Bailey to Chief Information Security Officer. As Foundation Source embarks on its next stage of growth, both Mr. D'Addario and Mr. Bailey bring in-depth fintech expertise and will help lead the firm's expansion into enterprise relationships.

"We are excited to welcome Lou and Warren to our team and look forward to working together as Foundation Source continues to drive forward its mission of becoming the leading provider of PhilTech," said Joseph Mrak III, chief executive officer of Foundation Source. "Both appointments are pivotal to accelerating our enterprise strategy and enhancing our ability to deliver large-scale corporate solutions as we expand into new areas of the charitable giving landscape."

With over 30 years of experience, Mr. D'Addario is a fintech pioneer with a depth of expertise applying innovative technologies to complex financial services businesses, and building high-growth sales teams. His extensive relationships will help drive growth and connectivity across the wealth management industry. Most recently, he served as Managing Director and Head of Sales for the Americas at Charles River Development, a State Street company. Mr. D'Addario previously held leadership roles at Envestnet and FolioDynamix. Earlier in his career, he held roles with Vestmark, CheckFree Investment Services (now Fiserv), Citi Asset Management, and Prudential Investments. Mr. D'Addario assumes the role from Michael Belville. He reports to Mr. Mrak and is a member of the firm's executive leadership team.

"Integrating charitable giving into wealth planning promotes deeper relationships with clients and allows advisors to make more relevant, personalized recommendations," said Mr. D'Addario. "PhilTech is the answer to making these services more accessible and cost-efficient for wealth management firms and I'm thrilled to join the team to help connect the industry with smart, tech-enabled solutions that fit seamlessly into the advisor desktop."

Mr. Bailey has more than 25 years of experience in technology and brings extensive software development and process design expertise to Foundation Source. Previously, he served a 13-year tenure as Chief Technology Officer of PG Calc, recently acquired by Foundation Source, where he helped strengthen the company's cybersecurity policies and procedures as it grew through partnerships with large financial institutions. Before that, he worked for Gryphon AI and Granitar. The Chief Information Security Officer role is newly created, and Mr. Bailey reports to Pascal Vincent, Chief Technology Officer.

"Strengthening cybersecurity and minimizing cyber risk is more vital than ever, and we will explore new frameworks, safeguards and practices to continue protecting the data under our care," said Mr. Bailey. "I'm excited to be a part of the growth, and to support Foundation Source as we enable charitable giving as securely and seamlessly as possible."

Mr. D'Addario and Mr. Bailey join Foundation Source as the company evolves and expands its footprint at the intersection of charitable giving and financial technology. Foundation Source appointed Vestigo Ventures founder Mark Casady to its board of directors in March 2024 and industry veterans Pamela Norley, former president of Fidelity Charitable, and Charles (Chip) Roame, founder and managing partner of Tiburon Strategic Advisors, to its board of directors in November 2023. In February 2024, Foundation Source acquired PG Calc, expanding its suite of charitable giving solutions to include planned giving software and services. Foundation Source is a portfolio company of GTCR, a leading private equity firm, which acquired the business in September 2023.

About Foundation Source (foundationsource.com)
Foundation Source is the leading provider of enterprise-caliber and technology-led charitable giving solutions. 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, professional advisors, and financial institutions.

For more than two decades, Foundation Source has empowered people and companies to create a better world through philanthropy. In February 2024, we acquired planned giving software and services firm PG Calc. Today we support more than 4,000 charitable organizations, administer more than $22 billion in foundation assets, and facilitate more than 120,000 grants and planned gifts annually.

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SOURCE Foundation Source