The Bank of New York (BNY) and KPM Technologies, Inc. have formed a marketing alliance for the accounting and reporting needs of nonprofit organizations, according to a statement from BNY.
Through the alliance, The Bank of New York will become KPM Technologies’ preferred custodial provider and the bank will refer the KPM software solution to its nonprofit clients nationwide. The software, “Endowment Manager 2005TM” integrates donations and investment performance and also solves the accounting issues associated with the management of all endowment-like funds.
Endowment Manager 2005TM helps to maximize endowment investment performance as well as manage expenditures and compliance requirements. It integrates data from existing accounting systems, as well as data from custodians or investment management firms.
“The Bank of New York recognizes the specific requirements for tracking and reporting on donor endowments and has established this alliance as a way to provide a direct link to the growing number of clients who can benefit from a comprehensive software solution,” said Patrick E. Curtin, executive vice president at The Bank of New York.
“Endowment Manager 2005TM is a specialized, fully auditable subsidiary ledger system, uniquely designed for managing information related to endowment clients. It provides a revolutionary information management tool designed to help a nonprofit organization and its entire endowment management team to maximize their endowment and other restricted funds,” noted Kemper Mazzarelli, president of KPM Technologies, Inc.