Frequently Asked Questions

Q. How many institutions currently use Fundriver?

A. Currently (January 2016) approximately 260 institutions use FUNDRIVER to administer their endowment funds.

Q. With what systems can FUNDRIVER interface?

A. FUNDRIVER can import and export fixed width, comma delimited and Excel formats. Custom interfaces have been developed for many accounting systems including: Peoplesoft®, Oracle/FRS®, Jenzabar®, Financial Edge®, Ellucian/Banner Finance® and Ellucian/Colleague Finance®. Because each interface is custom-developed, if your system is not listed here, FUNDRIVER can still provide an interface.

Q. How is FUNDRIVER secure?

A. FUNDRIVER is hosted in a SSAE 16 audited hosting facility. Another key element of our security strategy is regular review by a third party to help ensure all parts of the organization are performing the required functions to keep information secure. Our security strategy includes segregating clients into separate databases, physical security, encryption and regular monitoring of activity on the site. Most importantly, FUNDRIVER provides a far more secure environment for endowment than spreadsheets.

Q. Can the system support multiple spending rules and assign rules to each endowment?

A. Rules can be based on average market value, units per share, proportional distribution, Yale Method or earned dividends and interest. Custom rules are available as well. Rules can be configured to take into account underwater funds.

Q. What happens if not all of our assets have been unitized?

A. FUNDRIVER can do the initial unitization, typically requiring the last audited balances. We will preserve units if you already have them.

 Q How long does the typical implementation take?

A. On average an implementation can take 4-6 weeks, it really depends on the client and how quickly they can populate their data load template. Once we get the data load template back from the client we will have the database set up, configured and loaded with the client data within 3-5 business days.

Q. Does FUNDRIVER support multiple web browsers?

A. Yes

Q. How many users can be set up in FUNDRIVER?

A. An unlimited number of users can be set up with access and there are four standard user types to select from.

Q. Does FUNDRIVER provide ongoing client support and training?

A. Yes, ongoing support is unlimited and every client has a dedicated support person they can contact at any time.

Q. What does FUNDRIVER cost?

A. Annual fees range from $7,000-$14,000 depending on the product level you select. Reduced pricing is available for smaller institutions with less than 25 million in endowment assets.

Q. Does Fundriver offer any additional services outside of the endowment management software?

A. Yes, FUNDRIVER does offer consulting services that include on-site education and training to clients who may need hands-on support, outside the scope of a typical implementation.

 

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Testimonials

Fundriver software supports success. It’s powerful and easy to operate, and capable of handling large complicated endowment funds. Numerous and time-consuming Excel reports are now produced by Fundriver software with a push of button.

Functionality & Ease of Use

FUNDRIVER brings accuracy and simplicity to endowment administration, facilitating such factors as systems interface, report exporting formats, audit trails, FAS 117-1 reports and much more.