PKF O’Connor Davies Introduces Endowment Fund Accounting Services

New York-based PKF O’Connor Davies (FY16 net revenue of $146.6 million) launched endowment fund accounting services. The solution enhances the endowment fund accounting resources the firm provides to independent schools, colleges and universities, private foundations and community foundations with donor funds and donor advised funds. The expanded offering introduces investment unitization, which streamlines oversight and reporting by centralizing multiple accounts and improving efficiencies internally and for donors.

“We’ve provided endowment fund accounting services to countless not-for-profit and tax-exempt clients for years,” says Kevin Keane, MP. “This exciting next step formalizes our solution with a focus on investment unitization. This updated approach, executed by our experienced team including an entire tax group devoted specifically to the non-profit sector, will really take our client service to the next level.”

Investment unitization consolidates tracking, reconciling and reporting across a large number of separately managed endowed accounts including scholarships. Creating a single, pooled account enables organizations to achieve economies of scale and improve portfolio management and performance monitoring.

PKF O’Connor Davies’ solution harnessing investment unitization services also enhances non-profits’ ability to attract benefactors, including individuals and organizations that wish to establish a memorial fund or other endowment. They provide monthly, quarterly and semi-annual statements, reducing the organization’s internal duties and sustaining an engaged and satisfied donor community.