Quick Overview
- 1#1: Blackbaud Financial Edge NXT - Cloud-based fund accounting software providing nonprofits with advanced financial management, reporting, and compliance tools.
- 2#2: Sage Intacct - Scalable cloud financial platform with nonprofit-specific features for fund accounting, grant management, and multi-entity reporting.
- 3#3: Aplos - All-in-one affordable software for small nonprofits handling accounting, donations, payroll, and budgeting.
- 4#4: QuickBooks Online Nonprofit - User-friendly cloud accounting solution customized for nonprofits with donor tracking and fund-based reporting.
- 5#5: MIP Fund Accounting - Robust fund accounting system offering strong financial controls, audit trails, and reporting for mid-to-large nonprofits.
- 6#6: Araize Nonprofit+ - Cloud fund accounting software with budgeting, grant tracking, and multi-currency support for nonprofits.
- 7#7: NetSuite for Nonprofits - Comprehensive ERP platform delivering fund accounting, CRM integration, and analytics for complex nonprofit operations.
- 8#8: Xero - Simple cloud accounting tool adaptable for small nonprofits with bank feeds, invoicing, and basic fund tracking.
- 9#9: Wave Accounting - Free cloud-based bookkeeping software for very small nonprofits managing invoicing, expenses, and basic reports.
- 10#10: Cougar Mountain Denali Fund - Flexible on-premise or cloud fund accounting software with multi-fund support and customizable reporting for nonprofits.
We evaluated tools based on depth of nonprofit-specific functionality (e.g., fund accounting, grant tracking), system reliability, user experience, and overall value to ensure a balanced range of solutions for small, mid-sized, and complex organizations.
Comparison Table
For nonprofits aiming to streamline financial operations, this comparison table highlights key tools like Blackbaud Financial Edge NXT, Sage Intacct, Aplos, QuickBooks Online Nonprofit, MIP Fund Accounting, and more. Readers will find details on core features, pricing models, integration options, and user experiences to identify the best fit for their organizational needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Blackbaud Financial Edge NXT Cloud-based fund accounting software providing nonprofits with advanced financial management, reporting, and compliance tools. | enterprise | 9.6/10 | 9.8/10 | 8.7/10 | 9.2/10 |
| 2 | Sage Intacct Scalable cloud financial platform with nonprofit-specific features for fund accounting, grant management, and multi-entity reporting. | enterprise | 9.2/10 | 9.5/10 | 8.2/10 | 8.7/10 |
| 3 | Aplos All-in-one affordable software for small nonprofits handling accounting, donations, payroll, and budgeting. | specialized | 8.7/10 | 9.0/10 | 8.5/10 | 9.1/10 |
| 4 | QuickBooks Online Nonprofit User-friendly cloud accounting solution customized for nonprofits with donor tracking and fund-based reporting. | enterprise | 8.3/10 | 8.0/10 | 9.2/10 | 7.5/10 |
| 5 | MIP Fund Accounting Robust fund accounting system offering strong financial controls, audit trails, and reporting for mid-to-large nonprofits. | enterprise | 8.4/10 | 9.2/10 | 7.6/10 | 8.0/10 |
| 6 | Araize Nonprofit+ Cloud fund accounting software with budgeting, grant tracking, and multi-currency support for nonprofits. | specialized | 8.4/10 | 9.1/10 | 7.8/10 | 8.0/10 |
| 7 | NetSuite for Nonprofits Comprehensive ERP platform delivering fund accounting, CRM integration, and analytics for complex nonprofit operations. | enterprise | 8.2/10 | 9.2/10 | 6.8/10 | 7.5/10 |
| 8 | Xero Simple cloud accounting tool adaptable for small nonprofits with bank feeds, invoicing, and basic fund tracking. | enterprise | 7.6/10 | 7.1/10 | 8.8/10 | 8.0/10 |
| 9 | Wave Accounting Free cloud-based bookkeeping software for very small nonprofits managing invoicing, expenses, and basic reports. | other | 6.7/10 | 5.2/10 | 9.1/10 | 9.4/10 |
| 10 | Cougar Mountain Denali Fund Flexible on-premise or cloud fund accounting software with multi-fund support and customizable reporting for nonprofits. | specialized | 7.6/10 | 8.4/10 | 6.2/10 | 7.1/10 |
Cloud-based fund accounting software providing nonprofits with advanced financial management, reporting, and compliance tools.
Scalable cloud financial platform with nonprofit-specific features for fund accounting, grant management, and multi-entity reporting.
All-in-one affordable software for small nonprofits handling accounting, donations, payroll, and budgeting.
User-friendly cloud accounting solution customized for nonprofits with donor tracking and fund-based reporting.
Robust fund accounting system offering strong financial controls, audit trails, and reporting for mid-to-large nonprofits.
Cloud fund accounting software with budgeting, grant tracking, and multi-currency support for nonprofits.
Comprehensive ERP platform delivering fund accounting, CRM integration, and analytics for complex nonprofit operations.
Simple cloud accounting tool adaptable for small nonprofits with bank feeds, invoicing, and basic fund tracking.
Free cloud-based bookkeeping software for very small nonprofits managing invoicing, expenses, and basic reports.
Flexible on-premise or cloud fund accounting software with multi-fund support and customizable reporting for nonprofits.
Blackbaud Financial Edge NXT
enterpriseCloud-based fund accounting software providing nonprofits with advanced financial management, reporting, and compliance tools.
Unlimited fund segmentation and automated grant lifecycle management tailored for complex nonprofit accounting
Blackbaud Financial Edge NXT is a cloud-based financial management platform purpose-built for nonprofits, offering comprehensive fund accounting, general ledger, budgeting, accounts payable/receivable, and grant management. It provides real-time financial visibility, automated workflows, and compliance with nonprofit standards like FASB and GAAP. Seamlessly integrating with Blackbaud's fundraising tools such as Raiser's Edge NXT, it unifies financial data with donor and program insights for holistic nonprofit operations.
Pros
- Robust fund accounting with unlimited funds and segments for precise tracking of restricted/unrestricted funds
- Advanced reporting, dashboards, and Intelligence AI for actionable insights
- Seamless integration with Blackbaud CRM ecosystem and mobile accessibility
Cons
- High cost may be prohibitive for small nonprofits
- Steep learning curve and complex initial setup
- Customization limited outside Blackbaud suite
Best For
Mid-to-large nonprofits requiring enterprise-grade financial management integrated with fundraising and donor data.
Pricing
Quote-based subscription pricing, typically $5,000–$25,000+ per month based on organization size, users, and modules.
Sage Intacct
enterpriseScalable cloud financial platform with nonprofit-specific features for fund accounting, grant management, and multi-entity reporting.
Multi-dimensional fund accounting enabling tracking across unlimited segments like fund, grant, program, and location in real-time.
Sage Intacct is a cloud-based ERP solution designed specifically for nonprofits, providing advanced fund accounting to track restricted and unrestricted funds with precision. It offers comprehensive grant management tools, donor tracking, and automated reporting for compliance with standards like FASB and GAAP. The platform supports multi-entity management, real-time dashboards, and seamless integrations with CRM systems, making it scalable for growing organizations.
Pros
- Robust fund accounting with unlimited dimensions for detailed tracking
- Automated grant lifecycle management from application to reporting
- Excellent scalability and multi-entity support for complex nonprofits
Cons
- Steep learning curve and lengthy implementation process
- High cost, especially for smaller nonprofits
- Customization requires professional services
Best For
Mid-sized to large nonprofits with complex funding structures, multiple programs, and compliance needs.
Pricing
Custom quote-based; typically starts at $15,000-$30,000 annually, scaling with users, entities, and modules (subscription model).
Aplos
specializedAll-in-one affordable software for small nonprofits handling accounting, donations, payroll, and budgeting.
Native fund accounting that automatically segments and tracks donor-restricted funds across all transactions and reports
Aplos is a cloud-based accounting software tailored for nonprofits, churches, and faith-based organizations, offering fund accounting, donor management, online giving, budgeting, and reporting. It simplifies tracking restricted funds, managing grants, reconciling bank transactions, and generating donor statements and compliance reports. With integrations for payroll and payment processors, Aplos streamlines financial operations for smaller organizations while ensuring nonprofit-specific compliance.
Pros
- Specialized fund accounting handles restricted/unrestricted funds seamlessly
- Integrated donor management and online giving tools boost fundraising efficiency
- Robust reporting and dashboards tailored for nonprofit compliance and grants
Cons
- Transaction fees for online giving can increase costs for high-volume donors
- Fewer third-party integrations compared to enterprise competitors
- Advanced customization limited for very large nonprofits
Best For
Small to mid-sized nonprofits and churches needing an affordable, all-in-one platform for fund accounting, donor tracking, and basic financial reporting.
Pricing
Starts at $59/month (Basic: core accounting), $79/month (Growth: adds payroll/donors), $99/month (Pro: full features); online giving at 2.2% + $0.30/transaction.
QuickBooks Online Nonprofit
enterpriseUser-friendly cloud accounting solution customized for nonprofits with donor tracking and fund-based reporting.
Built-in fund accounting with class and location tracking for precise donor-restricted fund management
QuickBooks Online Nonprofit is a cloud-based accounting platform tailored for nonprofits, providing fund accounting to track restricted and unrestricted funds, donation management, and grant tracking. It offers essential tools for budgeting, invoicing, payroll integration, and generating compliance reports like IRS Form 990. With robust bank reconciliation and over 650 app integrations, it streamlines financial operations for organizations focused on core accounting needs.
Pros
- Intuitive interface familiar to many users
- Strong reporting and Form 990 automation
- Excellent integrations with banking and donor platforms
Cons
- Limited advanced donor CRM and relationship management
- Fund accounting lacks depth of specialized nonprofit software
- Pricing can add up with add-ons for larger orgs
Best For
Small to mid-sized nonprofits needing reliable, easy-to-use accounting with basic fund tracking and reporting.
Pricing
Nonprofit discounts (30-50% off): Starts at ~$30/month for Simple Start, $50/month for Plus, up to $125/month for Advanced (annual billing).
MIP Fund Accounting
enterpriseRobust fund accounting system offering strong financial controls, audit trails, and reporting for mid-to-large nonprofits.
Multi-Organization Consolidation for seamless management and reporting across multiple nonprofit entities
MIP Fund Accounting, from Community Brands, is a robust financial management software designed specifically for nonprofits, government agencies, and organizations requiring fund accounting. It provides comprehensive tools for general ledger, accounts payable/receivable, budgeting, grant management, and compliance reporting tailored to nonprofit standards like FASB and GASB. The solution supports multi-entity consolidations, encumbrance accounting, and customizable dashboards for streamlined financial oversight.
Pros
- Advanced fund accounting with encumbrance and grant tracking
- Powerful multi-entity consolidation and reporting capabilities
- Strong audit trails and compliance features for nonprofits
Cons
- Steep learning curve requiring significant training
- Complex setup and implementation process
- Higher cost compared to simpler nonprofit tools
Best For
Mid-to-large nonprofits with complex multi-fund, grant-heavy operations needing scalable enterprise-level accounting.
Pricing
Quote-based pricing; perpetual licenses start around $10,000+ with annual maintenance, or SaaS subscriptions from $5,000/year depending on users and modules.
Araize Nonprofit+
specializedCloud fund accounting software with budgeting, grant tracking, and multi-currency support for nonprofits.
Seamless integration of nonprofit fund accounting with grant tracking and donor CRM in one unified platform
Araize Nonprofit+ is a cloud-based financial management software tailored for nonprofits, offering fund accounting, donor management, grant tracking, budgeting, and reporting in a single platform. It supports compliance with standards like FASB and GAAP, handles restricted funds, and provides real-time dashboards for financial oversight. The system integrates CRM functionality with accounting to streamline fundraising and operations for nonprofit organizations.
Pros
- Specialized fund accounting with multi-entity and restricted fund support
- Integrated donor CRM and grant lifecycle management
- Robust reporting, budgeting, and real-time analytics dashboards
Cons
- Pricing is on the higher end, especially for smaller nonprofits
- Limited native integrations with some popular third-party tools
- Moderate learning curve for advanced features and customizations
Best For
Mid-sized nonprofits needing an all-in-one solution for accounting, fundraising, and grant management.
Pricing
Custom subscription pricing starting around $495/month for basic plans, scaling to $2,000+/month based on users, modules, and organization size.
NetSuite for Nonprofits
enterpriseComprehensive ERP platform delivering fund accounting, CRM integration, and analytics for complex nonprofit operations.
Advanced fund accounting engine supporting unlimited funds, projects, and grants with automatic GAAP-compliant reporting
NetSuite for Nonprofits is a comprehensive cloud-based ERP platform tailored for nonprofit organizations, providing advanced fund accounting, grant management, donor tracking, and financial reporting. It offers real-time dashboards, multi-entity consolidation, and compliance with standards like FASB and GAAP. The solution integrates CRM, fundraising tools, and operational modules to streamline nonprofit finances and operations at scale.
Pros
- Robust fund accounting with unlimited segmentation and multi-dimensional tracking
- Integrated CRM, donor management, and grant lifecycle tools
- Scalable cloud platform with real-time reporting and analytics
Cons
- High implementation costs and complexity
- Steep learning curve requiring training and customization
- Expensive for small nonprofits with simpler needs
Best For
Mid-to-large nonprofits with complex financial structures, multiple entities, and growth ambitions needing enterprise-grade ERP.
Pricing
Quote-based subscription starting at $10,000-$50,000+ annually depending on users, modules, and customization; nonprofit discounts available.
Xero
enterpriseSimple cloud accounting tool adaptable for small nonprofits with bank feeds, invoicing, and basic fund tracking.
Tracking categories for segmenting transactions by fund, program, or grant without needing complex setups
Xero is a cloud-based accounting software designed primarily for small businesses, offering tools for invoicing, bank reconciliation, expense tracking, payroll, and financial reporting. For nonprofits, it supports basic fund tracking through customizable categories and integrates with third-party apps for donor management and grant reporting. While flexible and automated, it lacks native fund accounting and specialized nonprofit compliance features like Form 990 support, making it best for simpler financial needs.
Pros
- Intuitive interface with mobile app access
- Automatic bank feeds and reconciliations save time
- Unlimited users and extensive integrations via app marketplace
Cons
- No built-in fund accounting or multi-entity support
- Limited nonprofit-specific reporting without add-ons
- Advanced features locked behind higher pricing tiers
Best For
Small nonprofits with basic bookkeeping needs that prioritize ease of use and scalability over specialized fund management.
Pricing
Early ($15/user/mo), Growing ($42/user/mo), Established ($78/user/mo) billed annually; nonprofit discounts often available.
Wave Accounting
otherFree cloud-based bookkeeping software for very small nonprofits managing invoicing, expenses, and basic reports.
100% free unlimited accounting and invoicing with no caps on users, clients, or transactions
Wave Accounting is a cloud-based, free financial platform designed for small businesses and solopreneurs, providing invoicing, expense tracking, receipt scanning, and basic reporting tools. For nonprofits, it handles core bookkeeping tasks like bank reconciliations, profit and loss statements, and simple cash flow management but falls short on specialized nonprofit needs. While accessible and scalable for very small organizations, it requires manual workarounds for fund accounting, donor tracking, or grant compliance.
Pros
- Completely free core accounting and unlimited invoicing with no user or transaction limits
- Highly intuitive interface with mobile app for on-the-go access
- Automatic bank transaction imports and easy reconciliation for basic bookkeeping
Cons
- Lacks fund accounting, donor management, or grant tracking essential for nonprofits
- No built-in support for nonprofit-specific reports like Form 990 or restricted fund reporting
- Payment processing and payroll incur transaction fees, reducing overall value for high-volume use
Best For
Tiny nonprofits or volunteer-run groups with minimal financial complexity and zero budget for software.
Pricing
Core accounting and invoicing are free forever; payments at 2.9% + 30¢ per card transaction; payroll starts at $20/month + $6/employee.
Cougar Mountain Denali Fund
specializedFlexible on-premise or cloud fund accounting software with multi-fund support and customizable reporting for nonprofits.
True fund accounting engine that maintains balance at the individual fund level without manual adjustments
Cougar Mountain Denali Fund is a specialized fund accounting software solution designed for nonprofits, offering true fund-level accounting to track restricted and unrestricted funds separately. It includes modules for general ledger, accounts payable/receivable, payroll, donor management, grant tracking, and customizable reporting to ensure compliance with FASB and GAAP standards. The software supports multi-entity organizations and can be deployed on-premise or hosted, making it suitable for complex financial operations.
Pros
- Robust true fund accounting with automatic balancing at the fund level
- Integrated donor and grant management tools
- Strong compliance features for nonprofit reporting standards
Cons
- Dated Windows-based interface feels outdated compared to modern cloud solutions
- Steep learning curve for non-accountants
- Limited mobile accessibility and integrations
Best For
Mid-sized nonprofits with complex fund structures and grant requirements needing on-premise control.
Pricing
Custom quotes starting around $5,000-$15,000 for perpetual licenses plus 15-20% annual maintenance; hosted options available at additional cost.
Conclusion
The review of top nonprofit financial management software highlights solutions tailored to diverse needs, with Blackbaud Financial Edge NXT leading as the top choice, offering advanced features that streamline complex operations. Sage Intacct and Aplos stand out as strong alternatives, with Sage excelling in scalable, multi-entity management and Aplos providing accessible, all-in-one tools for small organizations. Together, these options demonstrate the range of capabilities available to support effective financial management.
Ready to enhance your nonprofit’s financial efficiency? Begin with Blackbaud Financial Edge NXT to leverage its robust features and set your organization up for success.
Tools Reviewed
All tools were independently evaluated for this comparison