In addition to offering the iPhi Product Suite directly to nonprofit organizations, Stellar also offers a Participant Accounting Operations Platform to financial institutions who serve endowment type nonprofits. While financial institutions provide daily Net Asset Values (NAVs) at the investment portfolio or pool level to its clients via sophisticated trust accounting systems, it has been historically technically difficult to offer daily NAVs and unitization for the participants of these organizations.
Servicing the participant accounting (sub accounting) needs of a financial institution’s nonprofit clients (usually donors or similar constituents) is typically thought of as a cost center due to the high administrative and technical processing overhead required. Stellar’s web based, fully integrated Participant Accounting Operations Platform is currently solving this difficult problem for several major financial institutions, thus enabling each institution to profitably grow its outsourced charitable endowment and foundation division.
Interfacing throughout the day with our client’s trust processing system, the list below describes a sampling of Stellar’s participant level accounting functions.
- Accepts daily portfolio or pool NAVs and unitizes participant accounts daily
- Processes participant contributions/receipts and investment purchases (daily interface to trust system)
- Processes participant distributions/payments and investment sales (daily interface to trust system)
- Transactions accept income or principal
- Accepts daily income file and processes comprehensive participant reinvestment options or distribution
- Accepts daily fees/expenses information and performs participant account processing
- Accepts daily gain/loss information and performs participant account processing
- Platform is configurable for each financial institution client
- Spending rule and recurring payment processing
- Comprehensive client level reporting
- Comprehensive participant level reporting
- Financial institution staff interface to facilitate multiple client transaction processing and for aggregate client reporting.