Category: "Fund Accounting"

Nonprofit Passion and the Need to Digitally Transform
July 26, 2021
Nonprofit Passion and the Need to Digitally Transform

Nonprofit organizations need very strong fund accounting and grant management support I admit I am new to the technology world of nonprofits, having come from enterprise solutions in the manufacturing and supply chain world for multi-billion-dollar organizations. Though nonprofit organizations tend to be much smaller, that does not seem to make their needs for certain…

Can Nonprofits Make Money?
July 22, 2021
Can Nonprofits Make Money?

In order to function and truly be successful at reaching its goals, a nonprofit must conduct itself as a business, and yes, that means making money It’s a common misconception that nonprofits must end their fiscal year with a balance of zero dollars, or close to it, in order to make their mission successful and…

MIP vs. QuickBooks: Affordable Accounting Software for Nonprofits
June 8, 2021
MIP vs. QuickBooks: Affordable Accounting Software for Nonprofits

Explore whether MIP or Quickbooks is the better accounting software for your nonprofit based on the key differences. Replacing an introductory accounting solution like QuickBooks with a mid-market product such as MIP Fund Accounting is one of the most important decisions a nonprofit will make. And one of the most difficult. Upgrading to an objectively…

Sage Intacct vs. MIP Fund Accounting: The Ultimate Comparison Guide for Nonprofit Financial Professionals
May 12, 2021
Sage Intacct vs. MIP Fund Accounting: The Ultimate Comparison Guide for Nonprofit Financial Professionals

Sage Intacct or MIP Fund Accounting power a large percentage of all the finance departments in the nonprofit sector Out of a crowded market for accounting solutions, nonprofits consistently choose Sage Intacct or MIP Fund Accounting. These two solutions power a large percentage of all the finance departments in the nonprofit sector, but a few…

How to Add a New MIP User Account
April 26, 2021
How to Add a New MIP User Account

Recently hired a new member to your nonprofit finance team and need to set up a new user account in your MIP Fund Accounting system? The process of adding a new MIP user account consists of 2 steps: 1. Create the user account and select the database(s) that the account will have access to: Go…

Choose Your Path: Purchasing Options for MIP
October 1, 2019
Choose Your Path: Purchasing Options for MIP

Your organization recently decided to modernize your purchasing system in Community Brands MIP, the technology grant you applied for was awarded, or you are simply researching your options. That is great news! Now what? Now you need to figure out which purchasing system will best suit your needs. The topics of modernizing, centralizing or decentralizing,…

Blackbaud Financial Edge versus Community Brands MIP Fund Accounting
August 21, 2019
Blackbaud Financial Edge versus Community Brands MIP Fund Accounting

The number of ERP solutions suitable for nonprofit accounting is growing, and making a decision on which one to go with can be tough. The following is a hard-nosed look at two platforms that have been around for decades, but have managed to keep up with market demand in an increasingly competitive landscape. Before we…

How To Reduce Financial Risk for Your Nonprofit
April 16, 2018
How To Reduce Financial Risk for Your Nonprofit

Many nonprofits walk a razor-edge financially. Nonprofits address society’s most difficult issues, compete for limited funding and struggle to find and keep qualified staff to run their organization. A new report by Oliver Wyman, SeaChange Capital Partners, and GuideStar, which examines the finances of more than 219,000 U.S. nonprofits, reveals sobering realities: Around 50% have…

Get a View into Your Nonprofit’s Outcomes with Dashboards
February 26, 2018
Get a View into Your Nonprofit’s Outcomes with Dashboards

Dashboards provide a window into your organization’s performance and financial health. With the increased emphasis on outcomes—defined as a change in skill, knowledge, attitude, behavior, condition, or status—nonprofits must demonstrate the progress of those outcomes in a visual, understandable way. An article in Nonprofit Quarterly notes that a dashboard must: Align definitions of success across…

How Can Nonprofits Measure Success and Impact?
February 22, 2018
How Can Nonprofits Measure Success and Impact?

How do you know if your nonprofit is making an impact—if your mission is a success? The answer to this question affects everything about your organization, from day-to-day operations to the success of your fundraising efforts. The National Council of Nonprofits alludes to five actions: Identify what success looks like to you. Make a plan…

Outputs vs. Outcomes: What’s the Difference and Why Does It Matter?
February 6, 2018
Outputs vs. Outcomes: What’s the Difference and Why Does It Matter?

Donors want to know if their donations are impacting the work of your nonprofit through its mission. Increasingly, this means telling your story through numbers—something that nonprofits don’t always do well. Marc J. Epstein, co-author of the book, Measuring and Improving Social Impacts: A Guide for Nonprofits, Companies, and Impact Investors, says that “The need…

Cloud vs. Traditional Fund Accounting Software: Comparing the True Costs
January 17, 2018
Cloud vs. Traditional Fund Accounting Software: Comparing the True Costs

In the good old days, comparing the cost between different financial management solutions was fairly straightforward. They were built on similar technology platforms and were going to be deployed in roughly the same fashion. The only considerations were subtle differences in system requirements and pricing. The advent of subscription-based (SaaS) cloud applications for fund accounting…

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