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Foundation Source Names Salvatore A. Bucci President

FAIRFIELD, Conn., July 2, 2014 (GLOBE NEWSWIRE) -- Foundation Source, the nation's largest provider of comprehensive services for private foundations, today announced that Salvatore A. Bucci has been named President of the Company. An accomplished business leader with significant experience in the financial and technology sectors, Mr. Bucci has served Foundation Source as an executive consultant over the last year, streamlining operational management and reporting for the company. Mr. Bucci reports to Robert Chartener, Chief Executive Officer.

According to Mr. Chartener, "Sal is a well-respected, decisive business leader, known for driving business growth through his keen understanding of operational, technical, and financial systems. As President, Mr. Bucci rounds out Foundation Source's leadership team, ensuring an exceptional experience for our many stakeholders – private foundation clients, their professional advisors, strategic partners, staff, and shareholders."

"I am excited to be a part of the most accomplished and knowledgeable team of private foundation experts in the country," said Mr. Bucci. "In a relatively short time, I've seen the value that this company brings to high-net-worth donors who want to take control over and make the most of their philanthropy. For well over a decade, Foundation Source has been the leader in private foundation services; I look forward to working with my team members and the Board of Directors to achieve further growth in our client base and service offerings."

Throughout his career, Mr. Bucci has held leadership positions in which he has improved operations and infrastructure for companies. Most recently, he served as President of Home Partners Credit Corp, a privately held nationwide specialty finance company. Before this, Mr. Bucci was Executive Vice President and CFO of International Fight League, Inc., where he raised $37 million in private investment financing following a merger. From 2000 to 2006, Mr. Bucci was President and Chief Executive Officer of Paligent Inc., a company holding investments in biotechnology assets.

Earlier in his career, Mr. Bucci was Senior Vice President and CFO at DeGeorge Financial Corporation, where he was responsible for a $400 million mortgage portfolio. Mr. Bucci, a Certified Public Accountant, began his career with Coopers & Lybrand, a predecessor firm to PricewaterhouseCoopers. He later joined Merrill Lynch's real estate and insurance group, holding management positions in both finance and mortgage banking.

Mr. Bucci holds a Bachelor of Science Degree in Accounting from the University at Albany, State University of New York. He is a member of the American Institute of Certified Public Accountants and Financial Executives International. He resides with his wife in Milford, CT.

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation's largest provider of comprehensive support services for private foundations, bringing specialized knowledge and expertise to clients across the country. The company's administrative services, online foundation management tools, and philanthropic advisory services provide a complete outsourced solution for private foundations. The result: better-run, more effective foundations and more enjoyable philanthropy. Our clients supply the funds, the vision, and the philanthropic goals; we provide everything else.

Today, Foundation Source provides its services to more than 1,100 family, corporate, and professionally staffed foundations, of all sizes, nationwide. We work in partnership with wealth management firms, law firms, and accounting firms, as well as directly with individuals and families. Foundation Source is headquartered in Fairfield, Connecticut, with offices in Boston, Denver, Los Angeles, New York City, Philadelphia, South Florida, Washington, D.C., and Winston-Salem.

CONTACT: Media Contact: Rich Polt Communications Liaison 617-699-9144 rpolt@foundationsource.com Visit us on Facebook http://on.fb.me/117PIz4 Visit us on Twitter twitter.com/FoundationSrc

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