MIP Fund Accounting Research Study Finds Nonprofits, Educators, and Local Governments have Optimistic Staffing and Revenue Outlooks

Recently released study highlights how organizations are finding new ways to meet the needs of their beneficiaries, despite an uncertain economic environment

ST. PETERSBURG, Fla., March 22, 2023 /PRNewswire/ -- MIP Fund Accounting (MIP), the nation's leading nonprofit cloud-based, SaaS fund accounting software offering from Community Brands, recently released findings of its research study, 2023 Trends and Insights into the State of Nonprofits, Schools, and Local Government.

Community Brands collaborated with FINN Partners in the fourth quarter of 2022 to survey over 400 respondents from verticals including accounting, purchasing, and HR. Those surveyed include C-Suite executives, Presidents, Executive Directors, and Senior Vice Presidents as well as directors and managers. The study asked these nonprofit, education, and local government professionals for their economic observations, thoughts on technology efficiency, and opinions on technology adoption trends.

"Opportunity is defining 2023," shared Neil Taurins, MIP General Manager. "Our research found forward-thinking organizations are capturing new market opportunities and investing to increase efficiency. Across nonprofit, education, and local government, organizations are finding new ways to maintain their success and provide opportunities to advance their missions."

The economic environment at the end of 2022 created more questions and uncertainty, ut key findings suggest that organizations are weathering the uncertainty well. Respondents overwhelmingly estimate revenues will soon improve, with those surveyed in local government feeling most assured. Three out of four surveyed believe the U.S. Economy will improve in 2023.

Research showed most organizations feel labor issues influenced by the pandemic and 2022's economic uncertainty would decrease in 2023. This is a welcome prediction, as inefficient management of complex funding sources via multiple technological solutions continues to dominate, according to respondents.

Integrating technology efficiently will continue to define success in the coming years. Nearly three out of four of those surveyed anticipate investing more in technology in 2023. This is welcome news to those working in nonprofits, education, and local governments, as six in 10 feel weighed down by dated, inefficient technology.

MIP Fund Accounting is a cloud-based solution that easily manages your organization's finances, payroll, and revenue sources with core accounting functionality, built-in compliance, best-in-class reporting, and budgeting tools.  MIP has been helping government organizations and nonprofits in healthcare, education, social services, and advocacy account for their future for more than 40 years.

Comprehensive findings from the entire report can be found on the MIP website.

About Community Brands 
Community Brands is the leading provider of cloud-based software and payment solutions to associations, nonprofits, and K-12 schools. Specifically for charitable nonprofits and schools, the Community Brands Education and Nonprofit portfolio provides the industry's most complete set of software solutions for nonprofits and K-12 schools of all sizes. Nonprofits benefit from award-winning fund accounting and fundraising solutions, purpose-built from the ground up to empower them to achieve and grow their impact in our communities. Paired with a complete set of K-12 solutions encompassing enrollment management, financial aid, student information systems, and digital payments, schools are empowered to raise funds and deliver on their missions. To learn more, visit communitybrands.com or follow us on Twitter and LinkedIn. 

About MIP Fund Accounting®  
MIP Fund Accounting® is accounting for nonprofits' futures. Designed to track unlimited funds and manage financial books with ease, MIP is the nation's leading cloud-based, SaaS fund accounting solution for nonprofits, K-12 schools, healthcare organizations, and government organizations across the country. Its software handles the intricate financial process in a streamlined, user-friendly system. Manage finances, track every fund, and follow every dollar. For more information, visit mip.com. 

Contact: Karen Wright, [email protected]

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SOURCE Community Brands

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