Category: "Fund Accounting"
August 26, 2022
How Not-for-Profit CPAs Can Raise Their GameMany not-for-profit CPAs are seeing their organizations rapidly grow. That growth is often the catalyst for several pain points in their back-office financial accounting processes. There is digital technology for virtually every aspect of a not-for-profit’s finances. There are technology solutions that focus on enterprise resource planning (ERP) and others that focus on smaller, yet…
August 22, 2022
The Nonprofit Accounting Software Buyers GuideNonprofit financial leaders today balance the need to manage an increasing level of organizational complexity with the need for speed. You’re expected to keep your eye on multiple donors and funding sources with
July 26, 2021
Nonprofit Passion and the Need to Digitally TransformNonprofit 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…
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…
June 8, 2021
MIP vs. QuickBooks: Affordable Accounting Software for NonprofitsExplore 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…
May 12, 2021
Sage Intacct vs. MIP Fund Accounting: The Ultimate Comparison Guide for Nonprofit Financial ProfessionalsSage 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…
April 26, 2021
How to Add a New MIP User AccountRecently 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…
October 1, 2019
Choose Your Path: Purchasing Options for MIPYour 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,…
August 21, 2019
Blackbaud Financial Edge versus Community Brands MIP Fund AccountingThe 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…
April 16, 2018
How To Reduce Financial Risk for Your NonprofitMany 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…
February 26, 2018
Get a View into Your Nonprofit’s Outcomes with DashboardsDashboards 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…
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…