At Fundriver, we know that our accounting colleagues in the nonprofit world are committed to staying up to date with the very latest guidelines and guidance in the field. That is why we work hard to ensure that our software solutions are in step with the very latest Financial Accounting Standards Board (FASB)’s accounting standards updates (ASU). We want to make sure you and your entire team have all the resources you need to make your work efficient, effective and pain-free.
Summer weather isn’t the only thing coming in hot this month! Here are some helpful tips to stay cool in the heat of audit season.
Get prepared - Effective planning can help your team stay on track and optimize productivity. Create realistic timelines and milestones for everyone involved. Give yourself, your team, and your auditors adequate opportunity to complete their tasks. Don’t forget to ...
Bringing on a new software? Change can be a challenge, but follow these steps to keep it simple!
Does the thought of change or adding yet another tool to your arsenal make you want to run for cover? We get that. Being fully remote for 16 years, Fundriver has used our fair share of tools. But don’t forget, we help clients get up and running with our products in just a few weeks. Want to know how we do it?
A recently released study by the National Association of College and University Business Officers (NACUBO) and TIAA showed that college and university endowments saw dramatic increases in investment returns, asset values and giving levels in fiscal year 2021, despite the uncertainties of the past two years.
Highlights of the study include:
A 15% increase in new giving with particularly strong results for small- and medium-sized endowments
Returns of more than 20% were reported for all endowment cohorts...
Are you one of our clients with A LOT of funds to manage? 1 in 5 of our clients has over 1,000 funds!! These clients are adding more than just a handful of funds to their Fundriver Balance database every month. Let the Bulk Import do the work for you! We know our clients are pros at working with Excel; with Bulk Import you can populate your data (hello, copy + paste) in the template and import all your new funds at once. Entering all those funds manually every month can take hours. Save yourself time and reduce errors with the Bulk Import!
Anyone who has worked with endowment spending knows one thing to be true: there are as many ways to apply a spending policy as there are non-profit institutions. With practices related to spending varying so widely, it’s almost impossible to determine what is an industry “best practice.”
Let’s leave aside actual spending calculations (we’ll save the Yale Method for another day) and explore the concepts of applying either a time/date bound restriction or an amount bound restriction on spending. In Fundriver Balance, we call these “Authorize Dates” and “Reinvest Thresholds.” I’ll define each of these terms below.
As you've heard, many of us here at Fundriver have worked in business and development offices for years. We've been in your shoes and know you wear multiple hats on any given day. Do you need to save time? Are you still using spreadsheets? Maybe you're up and running in Fundriver Balance but are still entering your activity manually? Wherever you find yourself in the endowment equation, we can help!