Adavico

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.

Product

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.

Technology

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.

Customers

ADAVICO's software is designed to benefit foundations, endowments, and non-profit organizations including arts & culture, faith-based, healthcare, higher education, and independent schools.

History

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.

Management Team


Christopher T. Davis

Chris Davis is CEO and co-founder of ADAVICO, which he originally conceived in 2006 to improve commingled endowment fund transparency on behalf of donors and business officers. He launched ADAVICO in 2011 with his brother and CTO, Steven Davis.

Prior to ADAVICO, Mr. Davis worked extensively with academic institutions and non-profit organizations as a financial advisor and a Certified Public Accountant. Focusing on the fiduciary responsibility of these entities to their constituents, he guided their financial affairs including investment strategy and implementation, policy consultancy and development, and reporting with internal and external stakeholders. In public accounting, he provided assurance and tax services to non-profits, municipalities, and businesses.

Chris earned degrees in business management and accounting from Virginia Tech. He is a Certified Public Accountant (CPA).

Steven M. Davis

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.