MIP Fund Accounting is awesome for nonprofits with many endowment funds.
March 05, 2021
MIP Fund Accounting is awesome for nonprofits with many endowment funds.
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with MIP Fund Accounting
We use MIP Fund Accounting to account for our foundation. It is only used in the foundation and not the entire university. The business problem it addresses is managing accounts for our more than 400 endowments. Without this software, they would be impossible to track.
- Easily spreads investment returns to all endowments
- Creating and formatting reports is simple
- Navigating the software is very intuitive
- Report writing could be easier; it is not user friendly
- Standard reports should be more accessible (e.g., SOA, SFP, individual endowment reports that are reader friendly downloadable into different formats)
- The original implementation was very difficult and cumbersome
- The impact on our organization was that it produced an inefficiency in our accounting processes. Financials were behind by months and the amount of error fixing was significant.
- After implementation and fixing all the errors, the monthly process goes pretty smooth and the year-end process is relatively easy now.
Do you think MIP Fund Accounting delivers good value for the price?
Yes
Are you happy with MIP Fund Accounting's feature set?
Yes
Did MIP Fund Accounting live up to sales and marketing promises?
No
Did implementation of MIP Fund Accounting go as expected?
No
Would you buy MIP Fund Accounting again?
Yes
I liked the financial reporting functionality of Sage Intacct, but MIP Fund Accounting is definitely the better product for tracking many different funds.