Edward J. Orazem, president, Fidelity Family Office Services, said in a statement, “In an age where charitable dollars are tight, yet the call for philanthropy is on the rise, family offices are becoming even more strategic in their giving. Family offices also are looking to ensure their charitable structure is maximizing their ability to meet their philanthropic goals.”
The new offering includes:
- Back-office administration, including transaction processing, compliance monitoring, federal and state filings, and advanced back-office services
- A web-based platform, including research capabilities allowing family offices to conduct due diligence on IRS-approved charities; flexible grant making and expense tracking options; and an online reporting and document archive system for storing, organizing and sharing foundation documents
- Support services, including Foundation Source specialists in areas of philanthropy, tax, legal and accounting services
- Advanced foundation services, including expertise from Foundation Source professionals on governance and family engagement surrounding the foundation’s philanthropic efforts as well as effective charitable best practices (e.g., program development, executive director coaching and social change strategies).
Fidelity also provides access to Fidelity Private Foundation Services and the Fidelity Charitable Gift Fund.