PKF O’Connor Davies Introduces Endowment Fund Accounting Services

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Enhanced Offering streamlines oversight and reporting for organizations and donors

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PKF O’Connor Davies, LLP, the nation's 28th largest accounting and advisory firm, announced today the launch of its 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,” said Kevin Keane, Managing Partner of PKF O’Connor Davies. “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’ comprehensive 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. The Firm provides monthly, quarterly and semi-annual statements, reducing the organization’s internal duties and sustaining an engaged and satisfied donor community.

Many of these groups rely on the Firm to provide accounting, recordkeeping and reporting through its proprietary Fund Administration Platform. This sophisticated investment accounting and administration software technology facilitates accounting for investment portfolios and donor gifts as part of the consolidated fund while also being reported separately. Donors are able to see their contributions, investment performance and the direction of endowment returns towards their preferred beneficiaries. This unique solution promotes the ability of internal auditors to fulfill due diligence requirements, helps streamline fund operations and improves accounting and reporting, recordkeeping, internal controls and governance.

With PKF O’Connor Davies’ Endowment Fund Accounting Services, clients receive the benefits of this advanced technology combined with access to a multi-disciplinary team and Firm leadership.

About PKF O’Connor Davies, LLP

PKF O’Connor Davies, LLP is a full service certified public accounting and advisory firm with a long history of serving clients both domestically and internationally. With roots tracing to 1891, nine offices in New York, New Jersey, Connecticut and Maryland, and more than 700 professionals, led by over 100 partners, the Firm provides a complete range of accounting, auditing, tax and management advisory services.

PKF O’Connor Davies is ranked number 28 in Accounting Today’s 2017 “Top 100 Firms” list and the Firm is also recognized as a “Leader in Audit and Accounting,” a “Pacesetter in Growth” and one of the “Top Firms in the Mid-Atlantic.” PKF O’Connor Davies is ranked number 28 in INSIDE Public Accounting’s 2017 “Top 100 Firms” list and recognized as one of the “Top Ten Fastest-Growing Firms." In 2017, PKF O'Connor Davies was named one of Vault's Accounting 50, a ranking of the 50 best accounting employers to work for in North America, and ranked among the top 50 most prestigious accounting firms in America in a complementary Vault survey. The Firm is the 11th largest accounting firm in the New York Metropolitan area, according to Crain’s New York Business, and the 11th top accounting firm in New Jersey according to NJBiz’s 2017 rankings.

By consistently delivering proactive, thorough and efficient service, PKF O'Connor Davies has built long-lasting, valuable relationships with its clients. Partners are intimately involved in the day-to-day management of engagements, ensuring a high degree of client service and cost effectiveness. The Firm’s seasoned professional staff members employ a team approach to all engagements to provide clients with the utmost quality and timely services aimed at helping them succeed. Continuity of staffing and attention to detail in all client engagements make the Firm stand out among its competitors.

PKF O’Connor Davies is the lead North American representative of the international association of PKF member firms. PKF International is a network of legally independent member firms providing accounting and business advisory services in over 400 locations in 150 countries around the world. With its tradition, experience and focus on the future, PKF O’Connor Davies is ready to help clients meet today’s ever-changing economic conditions and manage the growing complexities of the regulatory environment. For more information, visit http://www.PKFOD.com.

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Kathleen O’Toole
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