A little about us
ADAVICO is an independent software producer dedicated to providing clients with leading solutions for endowment fund administration including accounting, compliance, and reporting. We provide the easiest and most accurate applications to track, monitor, and disclose pooled fund activity so you can focus on your mission and enhance productivity.
ADAVICO is a software-based endowment administration offering that makes it easy to track commingled fund activity, monitor donor gift instrument compliance, and maintain adherence with UPMIFA regulations and FASB disclosure standards. Our software systems increase transparency, expedite results, improve accuracy, and help your organization meet fiduciary responsibilities.
ADAVICO avoids the inherent limitations of spreadsheets by using a robust data management, accounting and reporting system offering key features such as multi-user read/write capability, input verification, internal diagnostic checks, and improved results validation. A client-server implementation model maximizes resources and software deployment efficiencies, while extensive security and backup safeguards protect client data.
ADAVICO's software is designed to benefit foundations, endowments, and non-profit organizations including arts & culture, faith-based, healthcare, higher education, and independent schools.
ADAVICO was born of an idea we first discussed in 2006. While providing investment consulting services to higher education and non-profit organizations, Chris became aware of the difficulties they encountered trying to administer pooled funds with disconnected spreadsheets, and the resulting lack of transparency this approach provided to donors and business officers. The concept continued to evolve, and with enactment of the Uniform Prudent Management of Institutional Funds Act (UPMIFA), reports and financial statement disclosures that would have been nice to have soon became a must-have. We decided to focus our efforts on building a solution and began providing services as a privately held company in 2011.
Christopher T. Davis, Co-founder & CEO
Chris Davis co-founded ADAVICO in 2011. ADAVICO provides subscription-based software and related professional services to simplify Pooled Endowment Fund Administration for non-profit organizations across the United States.
Chris conceived ADAVICO with the vision to improve commingled fund transparency in an easy-to-use platform, thereby protecting donor, beneficiary, and organizational interests. As CEO, he focuses on delivering the best suite of software and services available for the widest possible range of clients.
Prior to ADAVICO, Chris worked extensively with academic institutions and non-profit organizations as both a financial adviser and a Certified Public Accountant. Focusing on the fiduciary responsibility of these entities to their constituents, he helped guide their financial affairs including investment strategy, policy development, and reporting. In public accounting, he provided assurance and tax services to non-profit organizations and municipalities.
Chris earned degrees in Business Management and Accounting from Virginia Tech, and resides in Norfolk, Virginia.
Steven M. Davis, Co-founder & CTO
Steven Davis is CTO and co-founder of ADAVICO where he develops software platforms, manages database design, and provides IT consulting. Prior to ADAVICO, he worked for a non-profit marine research laboratory located in the Florida Keys where his duties included hardware and software development to facilitate coral reef research and IT support.
Mr. Davis has provided hardware and software solutions to university, business, and non-profit organizations for more than 25 years. Following college graduation, he remained in the university environment as head of the Computer Engineering Laboratory at Virginia Tech while taking postgraduate Computer Science courses. As an engineering manager, he oversaw development of software for a number of diverse commercial applications including industrial controls, robotics, and telecommunications. He also provided a wide range of software consulting services to business and governmental agencies.
Steven earned his degree in Electrical Engineering with a concentration in Computer Engineering from Virginia Tech and holds patents in motor and industrial controls.
Jason Edwards, CFO/COO
Jason Edwards joined ADAVICO in 2018 as Chief Financial Officer and Chief Operating Officer. As CFO/COO, Jason is responsible for operational strategy, and oversees ADAVICO's Endowment Accounting Services team, focusing on accuracy, processing integrity, and unrivaled customer service. Through in-depth analysis, and a specialized understanding of legacy sub-accounting systems, Jason ensures each client's data is successfully implemented and maintained according to applicable best practices and organizational objectives.
Prior to ADAVICO, Jason served as Vice President of Finance and Administration at North Carolina Wesleyan College where he led finances, investments, and operations. Prior to that, he spent fourteen years at a financial services administration firm providing participant-level recordkeeping, financial reporting, compliance, and transfer agency services to mutual funds, hedge funds, and endowment funds.
Jason holds a bachelor's degree in Accounting from North Carolina Wesleyan College, and makes his home in Rocky Mount, North Carolina.
Justin Schoonmaker, CMO
Justin Schoonmaker joined ADAVICO in 2021 as Chief Marketing Officer. As CMO, Justin is responsible for corporate marketing strategy. This includes brand management, the deployment of all marketing tactics, strategic development of partnerships, and oversight of the company’s digital marketing portfolio.
Prior to ADAVICO, Justin served in several creative and marketing roles at William & Mary over 13 years. He was responsible for leading teams to execute on many different facets of the university’s marketing enterprise, including the design of the main university website (over 75,000 webpages), an overhaul of the university’s visual identity system and brand standards, a rebrand of the school’s NCAA Division 1 athletics program, and the school’s suite of flagship student recruitment communications.
In addition to his role at ADAVICO, Justin is an entrepreneur. In 2015, he founded Colour Outside, a branding and digital marketing agency. To date, Colour Outside has served clients within many different industries across ten states and in Europe.
Justin holds a bachelor’s degree from William & Mary and lives in Williamsburg, Virginia.