Annual Nonprofit Endowment Fund Distributions
Each year at the start of Fall we calculate and process annual distributions from our nonprofit agency endowment funds. In the past we would simply cut a check for every endowment and if the nonprofit wanted to reinvest the distribution back into their endowment fund they would either send the check back, or they would deposit it then write a check back to us. Very laborious and not very efficient. Last year we sent an email to every fund advisor to ask them to let us know if they would like their distribution reinvested, otherwise, we would cut and mail a check. We tracked responses through an excel spreadsheet.
We were hoping there might be a button or check box that a fund advisor could click to notify us that they would like to reinvest their distribution, and we could simply run a report to know which checks to cut but that is not a capability in the software yet. Do any other community foundations out there have a similar process with better efficiencies?