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Council on Foundations
2005 Fall Conference for Community Foundations
September 19-21, 2005
Seattle, WA
September 18, 2005
Dear Valued Client:
MicroEdge|NPO Solutions, a division of MicroEdge, Inc., is proud to announce the creation of a new partnership with AST Trust Company, a division of American Stock Transfer & Trust Company. This partnership will provide technology to community foundations with automated access to receive and make use of custodial data directly into their back office accounting platforms, FIMS and FoundationPower.
The new technology, Financial Institution Interface (FII), will provide community foundations with seamless data processing to more effectively monitor, track, and exercise oversight for, their investments. This enhanced stewardship capacity will directly connect community foundations to financial advisors and investment managers and will result in increased service and flexibility for donors.
"This partnership with MicroEdge|NPO will empower foundations to more efficiently monitor and manage large numbers of accounts at many custodians and will facilitate better integration between foundations and financial services industry data in a way never before possible," says Gregory Tschider, president of AST Trust Company.
FII's seamless processing capabilities will allow transmission of financial data provided by AST Trust Company to the back-office foundation accounting systems, FIMS and FoundationPower, with a full set of configurable business rules and reconciliation tools. AST's unique use of Advent Software products Axys® Portfolio Management Platform and Custodial Data Network allows AST to effectively reconcile, value, and scrub custody data for use by foundations who oversee billions in philanthropic assets.
"The Financial Institution Interface offering will streamline the flow of financial information to foundations, and dramatically improve our clients' ability to service donors with comprehensive and timely account information," explains MicroEdge Executive Vice President, George Macintyre.
More than $40 billion in community foundation assets are managed through FIMS and FoundationPower. Prior to the agreement between MicroEdge|NPO Solutions and AST Trust Company, manual reconciliations and data entry from monthly paper statements were standard practice between foundations and financial institutions. This legacy practice will become increasingly unnecessary with the development of the Financial Institution Interface, which will provide instant access from the front-end interface to the back office, along with automated reconciliation and data entry.
AST Trust Company will offer an optional service to FIMS and FoundationPower users under the seamless processing platform. The FoundationPartner platform option will provide a web-accessible suite of tools allowing foundations to benefit from holistic views of all portfolio holdings spanning multiple financial institutions, further increasing access to important management information.
About MicroEdge
Established in 1985, MicroEdge, Inc. (www.microedge.com), a subsidiary of Advent Software, Inc. is the leading provider of software and services to the giving community worldwide. MicroEdge solutions deliver a powerful, integrated, and open framework for efficient and effective charitable giving. The company is committed to providing the best technology toolset for foundations, corporations, government agencies, donors, advisors and financial institutions. Together, these tools help organizations to work with one another to raise, invest, manage and award charitable currency. MicroEdge, Inc. is headquartered in New York City with regional offices throughout the U.S. and Europe, and supports thousands of clients worldwide.
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About Advent
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 trillion. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization. For more information on Advent products, click here.
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About AST Trust Company
AST Trust Company (www.asttrustco.com), a division of American Stock Transfer & Trust Company, provides directed trustee and trust administration and back office services through financial advisors who serve individuals, families, companies, foundations, organizations, and financial institutions, making us one of the largest independent trust companies in America.
Founded in 1970, American Stock Transfer & Trust Company services more than six million shareholder accounts on behalf of more than 2,500 public company equity issuers. A privately held, New York State chartered trust company, AST is regulated and examined by the Securities and Exchange Commission, the New York State Banking Department and the Arizona State Banking Department.
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Copyright © 2008, MicroEdge, Inc. ®
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All MicroEdge products or services mentioned herein are trademarks or registered trademarks of MicroEdge, Inc. All rights reserved. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
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