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The best fund accounting software in 2025

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Choosing the best fund accounting software is critical to expediting your bookkeeping process, simplifying your accounts, and returning to your regular operations. Whether you’re a funder, foundation, or in nonprofit financial management, the correct tool can replace countless hours of manual work, help you avoid legal issues, and save you money on accountant consultations.

The most modern, best nonprofit accounting software utilizes a variety of cutting-edge features, including cloud-based fund accounting, AI-assisted automation, compliance features, and integration with other grant management systems.

Let’s consider which features can benefit your organization, explore 2025’s most popular fund accounting software, and decide which suits your unique needs.

Key features to look for in fund accounting software

When exploring fund accounting software for nonprofits (for simplicity, we’re considering nonprofits to be 501(c)(3) organizations, including funders and foundations), be sure to look for solutions that cater to both nonprofits and social good organizations:

  • Compliance and regulatory support: Comprehensive solutions provide features designed to support adherence to Generally Accepted Accounting Principles (GAAP), Financial Accounting Standards Board (FASB) guidelines, and Internal Revenue Service (IRS) compliance, helping organizations minimize the risk of accounting and tax errors.

  • Fund and grant tracking: Whether your funds are restricted or unrestricted, tracking their status expedites applications and gets money out sooner.

  • Integration capabilities: You use a variety of software to manage your organization, from your favorite Customer Relationship Manager (CRM) to donor management apps and grant lifecycle tools. Ensure your chosen fund accounting solution fits into your digital ecosystem for seamless cross-platform integration.

  • User accessibility and scalability: Your employees, donors, and recipients can be anywhere worldwide. With cloud-based access and flexible configurations, allow them to use your platform no matter their location. Likewise, as your organization grows, ensure your chosen tool can scale infinitely alongside you. 

  • Advanced reporting and automation: There’s no need to manually fill spreadsheets or balance unchecked books. Modern automation tools can now generate reports in real-time, handle allocations, and expedite audits to take much of the manual accounting work off your team’s shoulders.

Top fund accounting software for 2025

The leading fund accounting software for nonprofits in 2025 includes the following.

1. Foundant CommunitySuite

When it comes to financial management for nonprofit organizations, Foundant CommunitySuite is the most robust tool on the market. With a cloud-based, comprehensive platform purpose-built for community foundations and philanthropic organizations, it’s uniquely adept at handling the specific, complex accounting needs of nonprofits and their funders.

Beyond handling accounting tasks, Foundant CommunitySuite also features end-to-end grant management and cross-platform integration with:

  • Grants Management: From processing applications to checking their status and even managing related financial concerns like budget tracking, grants management simplifies and expedites awarding grants.

  • Scholarship Lifecycle Manager (SLM): SLM helps you gauge an applicant's experiences, collect references and other information, generate reports on your collated data, and much more.

Aside from seamless integration, instant data flow across platforms, and automated reports, CommunitySuite is also infinitely scalable, with no user cap. Plus, donor engagement tools help you reach out to close partners and show them you value their support. And if you ever have any questions, the CommunitySuite Support Hub is loaded with discussions and tips to help you better utilize its resources.

2. Blackbaud Financial Edge NXT

If you’re a medium to large-sized nonprofit, Blackbaud Financial Edge NXT could be a reasonable tool for accounting management. 

Like Foundant CommunitySuite, it offers robust reporting features like:

  • Streamlined bank and credit card reconciliation that detects spending and posting errors

  • Reporting templates and budget creation capabilities save your accounting staff time on tedious tasks

  • Flexible reporting options that allow you to generate financial snapshots in various styles and with visual aids

Unlike CommunitySuite, Financial Edge NXT doesn’t offer seamless, built-in grant and scholarship management on its own. However, it does integrate with Blackbaud Grantmaking for organizations using both solutions. 

If you’re not using Blackbaud Grantmaking, you may need to manually track applications, awards, and budget data across separate systems—potentially adding complexity and extra administrative work for your team.

3. Sage Intacct for Nonprofits

Sage Intacct for Nonprofits offers many of the same beneficial features you receive with CommunitySuite, like cloud-based, scalable services that are flexible to your organization's needs. It also boasts AI-assisted automation to help you create reports and visualizations, making it best for large organizations with complex, multi-faceted financial modeling needs.

However, Sage Intacct for Nonprofits leaves much to be desired in terms of integrations intended for philanthropic organizations. Sage has spent considerable time and effort forming a strategic partnership with NPact, another accounting solution and nonprofit consultancy firm. In turn, their two solutions run effectively side by side. Additionally, the solution integrates with Fluxx grant management software to update grant payment information between the two systems.

Beyond this, however, it can be difficult to work Sage Intacct for Nonprofits into your digital ecosystem. So, if you’re set on your current grant and scholarship managers, explore more versatile accounting options. 

4. MIP Fund Accounting

MIP Fund Accounting from Momentive Software is specifically designed for government entities, school districts, and nonprofits. And, while its scope may be grand, its learning curve is just as steep.

MIP Fund Accounting features various customizable features, such as:

  • Budgeting and reporting rules

  • Configurable dashboards

  • Requisition/purchase order workflows and automation capabilities

Your accounting professionals will require extensive startup training to understand these features and put them to proper use. Additionally, the product suffers from a low usability score, with many users finding the interface difficult to navigate, especially for those lacking extensive accounting knowledge. 

5. QuickBooks for Nonprofits

If your nonprofit, startup, or small organization is just getting up off the ground, Quickbooks for Nonprofits offers a familiar, affordable solution that may meet your needs.

For a competitive price, you get a few of the fund accounting basics, including essentials like:

  • Expense sorting

  • Budget tracking

  • Support for up to 40 users

Contrary to more robust solutions like CommunitySuite, Quickbooks for Nonprofits doesn’t feature grant or fund-tracking capabilities. This makes it passable as an entry-level nonprofit accounting software for basic donation entry but incapable of handling end-to-end financial and organizational management for foundations with complex fund management needs.

6. AkoyaGO

AkoyaGO is built for community and private foundations that combine financial management with donor, relationship, and grant management. It aims to be a CRM and a nonprofit accounting tool but lacks the flexibility to do both effectively. 

Since it’s built on Microsoft’s Dynamics Platform, it boasts customizability and quick integration with other Microsoft applications. It lacks many of the nonprofit-specific features that CommunitySuite offers its users, however, including:

  • Investment allocation

  • Pledge tracking

  • The ability to report and track multiple admin fees

AkoyaGO may be usable for foundations with less complex financial management needs without these key features. However, if you’re looking for an all-in-one solution, it doesn't live up to its robust aspirations.

7. NPact Fund Investment Tool

NPact Fund Investment Tool is a flexible financial processing solution designed to complement other fund accounting software, such as the aforementioned Financial Edge NXT and Sage Intacct for Nonprofits. 

It offers several key features when integrated with other solutions, including the ability to automate complex recurring calculations for:

  • Endowment fees

  • Spending policies

  • Income allocation

  • Rebalancing

This lightens the need for spreadsheets, compiles information from different systems in one spot, and prevents siloing. However, the NPact Fund Investment Tool doesn't perform all the functions of a robust fund accounting tool on its own, and pairing it with other systems drives the price up substantially. 

Why Foundant CommunitySuite stands out

Foundant CommunitySuite isn’t just built with nonprofits in mind, but their funders as well. Since it’s a fully-integrated platform with features like grant and scholarship management, it can help eliminate data silos and allow you to work seamlessly across different organizational departments.

Moreover, some platforms explored above weren’t purpose-designed for nonprofit and funder use—with functionality bolted onto software intended for generic commercial use or provided via additional, required solutions.

CommunitySuite is backed by philanthropy experts. It offers client-centered support, scalable tools, and competitive licensing fees. Its pricing is among the most affordable in the industry, and when you compare its wealth of features with other solutions, it far outshines similar software in performance and value.

How to choose the right fund accounting software

To decide which fund accounting software is right for your organization, consider the following:

  • Your foundation’s needs: How many funds do you serve? How stringent are your compliance requirements? How many users need access?

  • Your integration requirements: Are there specific donor databases, CRMs, or fund management tools you simply must use? If so, choose a solution that integrates seamlessly into your current digital ecosystem.

  • The solution’s future scalability: Cloud-based solutions are generally infinitely scalable and can grow alongside your organization. Conversely, on-premise software tends to enforce finite user limits that may not meet your foundation’s future needs.

  • Pricing and support: Consider the value of one-time purchases versus subscription models and decide which fits better into your budget. Likewise, consider the software company’s service reputation and how quickly you’ll be assisted when you need support. 

Find the best fund accounting software for your needs

When choosing the best fund accounting software for your organization, look for cloud-based hosting, AI-assisted automation, compliance-facilitating features, and seamless cross-platform integration. 

There’s no need to look far, however, as Foundant CommunitySuite boasts all this and more in an affordable, easy-to-use package. From generating reports to funder relationship tools and other useful features, it’s the only program you need to expedite your organization's bookkeeping and management.

Start a conversation with Foundant to see how CommunitySuite can simplify your fund accounting.