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Inspired Design meets Dynamic Technology

Inspired Design meets Dynamic Technology

Four Fund Accounting Essentials: Lessons Unique to Community Foundations: 

Part one of this two part series outlined five financial policy factors that every community foundation needs to understand and consider for their organization. Part two will focus on the four accounting essentials that every executive director and board member needs to understand to help determine the best fund accounting practices for their foundation.

Here is an overview of four fund accounting essentials for community foundations:

Four Fund Accounting Essentials: Financial Policy Factors

Foundations that manage funds have their own unique set of accounting policies that do not typically apply to other non-profit organizations. And local accountants may not be well-versed in fund policies and methods specific to community foundations.

This two part blog series outlines fund accounting essentials and lessons that merit discussion with your foundation's staff and board. Part one is a review of five financial policies that have a direct impact on fund accounting.

If Cutting The Lawn With Scissors Seems Like A Bad Idea…

...So Is A Manual Grant Management Process.

You wouldn't cut your grass with a pair of scissors. There are so many better tools out there that can do that chore much better and faster. Yes scissors are cheaper than a lawn mower, but cutting the grass would take much longer to do, the result would be an inconsistent cut across the lawn, and of course you would have to deal with sore knees and a throbbing back!

Even more important, however, is the opportunity cost of not being able to spend your free time doing the things that mean the most to you: playing with your kids, going for a good run, having coffee with your best friend, etc. Why should your grant management administration be any different?

The Pros and Cons of Online Software: Benefits (Part 1 of 3)

Foundation technology in the form of online software, sometimes referred to as cloud computing, is a growing trend. There are advantages and disadvantages to this software model, and the first part of this three part blog series will explore the benefits of online software.

There are five primary justifications that foundations often use in their decision to migrate to online software: accessibility, reliability, scalability, affordability and proficiency.

Accessibility

With online software foundation staff can access information from anywhere and anytime there is internet connection.

The Pros and Cons of Online Software: Drawbacks (Part 2 of 3)

Five advantages to online software were explored in part one of our three part series "The Pros and Cons of Online Software". It is also important to consider the disadvantages of online software; these drawbacks can be categorized into five areas: security, limitations, dependence, continuance and opportunity costs.

Security

With installed software, organizations keep intellectual property and data stored inside their own firewalls.