VERTICAL IQ Boosts Nonprofit Industry Intelligence with Benchmark Data from Candid
Industry Intelligence leader Vertical IQ has released another Sector Profile, Nonprofits, which incorporates in-depth, nonprofit-specific financial data provided by Candid, the trusted source for unbiased nonprofit financial data. Non-profit financial data is unique in terms of its reporting structure due to its use of fund accounting principles to capture grants, donations, and other accounts used exclusively by non-profit entities. With this new data, Vertical IQ users can now compare their non-profit customers with similar entities.
The Nonprofits Sector Profile joins Vertical IQ’s growing list of macro-level analyses of the major segments of the economy including Agriculture, Construction, Energy, Healthcare, Manufacturing, Real Estate, Retail, Transportation, Wholesale, and others. All Sector Profiles incorporate sector-specific chapters such as Geographic Breakdown, Technology Investment, Sector Indicators & Drivers, and Executive Talking Points.
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A valuable partnership for nonprofit financial data
Candid is itself a 501(c)3 nonprofit formed in 2019. The organization provides the most comprehensive data and insights about the social sector to explain where their money comes from and where it goes.
“Integrating Candid’s financial data on nonprofit financials into the Nonprofits Sector Profile creates a single location for research and analysis on this important vertical,” explains Bobby Martin, co-founder and CEO of Vertical IQ. “Adding this new Nonprofit Sector Profile, with its deep analysis of the nonprofit world, will be a win for our users, but the insight from Candid truly allows us to up the ante by providing financial data specific to 10 segments within the nonprofit vertical.”
Martin goes on to explain that nonprofits utilize fund accounting, which uses different terminology and methods than are used in for-profit accounting. “Nonprofits must keep track of specific items such as government agency funding, private donations, grant authorities and much more. Thanks to the data from Candid that is now integrated into Vertical IQ, our users will be able to compare their nonprofit customers to others, utilizing many different categories,” says Martin.
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