Best Practices in Endowment Accounting
December 16, 2021
- Chris Davis, CEO & Co-Founder | ADAVICO
- Jason Edwards, Chief Financial & Operating Officer | ADAVICO
- Lori Fuller, Controller | St. Catherine’s School
- Elizabeth Townsend, Foundation Accountant | St. Catherine’s School
Endowment accounting and donor reporting have become increasingly burdensome on the business officers and development staff of nonprofit organizations. Also, as endowment funds continue to grow and expand, there is a larger chance of error or non-compliance with laws and regulations when using manual processes and spreadsheets. This session will cover best practices in endowment administration, including accounting and donor reporting. We will review the case study of an organization that moved from spreadsheets to a software-based solution which ultimately allowed staff to save time and resources while enhancing internal controls and reporting capabilities.
Learning Objectives:
- Understand the risk factors resulting from using manual processes
- Recognize best practices in endowment accounting and donor reporting
- Identify areas which can be improved with software solutions
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