Best Nonprofit Banking: Seamless Grant Tracking & Expense Control

When you’re stewarding charitable dollars and juggling compliance, control, and donor confidence, the right banking platform isn’t just a back-office tool—it’s mission-critical. If you run a nonprofit, whether scrappy and grassroots or equipped with a full finance team, you know how every dollar—and every minute—counts. Choosing the right financial platform is about more than moving money; it’s about staying accountable, making reporting a breeze, and empowering your team to stay mission-focused.

While the world of business banking is rapidly evolving, two platforms consistently come up in conversations: Holdings and Found. Both present compelling, digital-first alternatives to traditional banks and promise to eliminate pesky fees. But which one truly meets the unique demands of the nonprofit world?

This guide reworks the common SMB “which bank” comparison, focusing on the needs, headaches, and opportunities unique to nonprofits. Whether you’re ready to bring in accounting sophistication or just want simple, segmented grant tracking, read on to see how Holdings and Found stack up—so your organization can strengthen its financial foundation and stretch every dollar.

The Case for Mission-Driven Banking

For nonprofits, money management goes far beyond standard business bookkeeping. You’re often managing restricted funds, complex grants, or donations that come with compliance strings attached. Each program, grant, or initiative may need clear separation and clear audit trails. When volunteers, program staff, or grant managers need to spend, you need controls that protect funds without throttling your team’s agility.

A modern banking solution should help you do all of this—without forcing you to become a spreadsheet wizard or spend precious resources on administrative headaches. That’s where platforms like Holdings and Found aim to step in. But do they deliver equally for the nonprofit sector?

Holdings: Built to Support Nonprofits, From Startup to Sophisticated

Holdings puts nonprofit flexibility, control, and efficiency at the heart of its platform. Here are some key advantages nonprofits will recognize right away:

• 2% Return on All Balances: Every nonprofit dollar in a Holdings account earns 2% annual interest—automatically. There’s no “tiered” teaser rates or sliding scales. Whether you’re holding reserves for future programming or managing a major grant’s float, your funds earn more just by staying in your Holdings account.

• Zero-Fee Banking, No Gimmicks: Nonprofits operate on lean margins. Holdings eliminates the hidden gotchas: there are no monthly maintenance fees, no fees for wires or ACH transfers, and no minimum balances required to keep your account open or in good standing.

• Segment Funds by Grant, Program, or Purpose: Virtual accounts let you create clear separation between funding streams—no more awkward “color-coding” in spreadsheets or commingling restricted funds. Designate accounts for each grant, campaign, program, or even funder, and see instantly how money is being used.

• Virtual & Physical Cards for Safer Spending: Avoid the hassle of expense reimbursements and shared credit cards. Issue virtual or debit cards to staff, program leads, or volunteers, with fine-grained spending controls on each card.

• Expense Management Made Easy: Tracking receipts, enforcing approvals, and protecting donor funds should not be a manual ordeal. Holdings gives you real-time visibility, category-level controls, and a streamlined flow for submitting, approving, and reconciling expenses.

• Simple, Compliant Bookkeeping: If you’re understaffed or overwhelmed, let Holdings’ bookkeeping service keep your finances clean, compliant, and ready for audits. You can trust that records are in order whether or not you have a dedicated finance staff.

• Integrations That Play Nice: Whether you use QuickBooks, Sage Intacct, or neither, Holdings plugs in seamlessly—or lets you export/download everything simply. There’s no pressure to abandon systems that work, just a smarter way to control cash and spending.

Found: Simple Banking for the Solopreneur and Freelancer

Found takes a mobile-first, minimal-friction approach. While its features are tailored primarily to freelancers and sole proprietors, some small and micro nonprofits may find its simplicity appealing. Here’s what you get:

• No Monthly Fees: Like Holdings, Found eliminates account maintenance fees. Basic operations are truly free for the average user.

• Mobile-First Design: All account features are available through an intuitive phone app, designed to get users in and out quickly.

• Automated Tax Tools: Found is unique in helping independent workers estimate and save for taxes as they go, auto-categorize expenses, and generate simple reports.

• Invoicing on the Go: Send invoices, track payments, and manage a basic business ledger right from your phone.

Where Found stands out is in supporting the “lone wolf” user—solo program directors, gig workers, or very small nonprofits who don’t need to separate funds or offer program-based cards. If you need more advanced control, segmented tracking, or compliance support, you may run up against limitations.

Why Segmentation and Control Matter for Nonprofits

Managing grants or programs requires more than a checking account and a spreadsheet. Many nonprofits are required—by law or grant agreement—to track each grant’s funds separately, ensuring that funds are only spent on approved purposes.

Virtual accounts in Holdings make this process simple and transparent. Whether you need to monitor spend for 10 grants or just keep a rainy-day fund apart from your unrestricted balance, you can do it in a click. No spreadsheet gymnastics. No risk of mixing funds. No last-minute panic at audit time.

With Found, funds are kept together in a single account, with no way to create internal walls between grants, programs, or donors. This is fine for solo operators but risky for organizations with even modest complexity.

Empowering Teams to Spend (Safely)

Traditional nonprofit spending methods—reimbursements, petty cash, or shared cards—are slow, risk-prone, and create friction. Holdings brings managing team, volunteer, or program spending into the 21st century.

You can issue virtual or physical debit cards linked to specific programs, grants, or campaigns. Set dollar limits. Restrict purchase categories. Require instant receipt upload. Track every purchase by grant automatically, with no manual sorting.

This is real control, without the hassle or risk of paperwork piling up or funds being misused. For compliance-driven organizations, this doesn’t just make life easier—it protects your mission and reputation.

Found, while fast and simple, is designed for singular control. It cannot issue extra cards for program leads or volunteers. This limitation can quickly become a hurdle for collaborative nonprofits.

Bookkeeping and Always-Ready Audits

Nonprofit audits can be daunting. Missing documentation or unclear records can threaten funding and donor confidence. With Holdings, bookkeeping is built in and custom-tailored to nonprofit reality.

Our optional service ensures your books are clean, audit-ready, and always up to date. If you ever need to export detailed transaction history for a grantor or your board, the information is a click away. No manual spreadsheet sorting. No forgotten receipts or last-minute scrambles.

Found, meanwhile, offers automated category tracking for income and expenses but stops short of nonprofit-ready categorization or robust bookkeeping services. If you’re scaling up or facing restricted funding, this can leave gaps.

Connecting With What You Already Use

No two nonprofits have the same financial toolset. Some rely on QuickBooks or Sage Intacct for high-level reporting. Others need an all-in-one platform. Holdings works with your reality.

Direct integrations let you sync your expenses, account balances, and grant tracking with leading accounting software. And if integration isn’t available, Holdings provides simple, clean exports for your bookkeeper to drop into any system.

You don’t have to abandon what’s working. Holdings flexes to enhance your workflow. Found, focused on freelancers, does not support robust integrations or offer download-ready formats matching nonprofit needs.

Accessible, Accountable, and Always Improving

Accessibility is crucial for nonprofit teams spread across geographies and made up of remote staff, volunteers, or temporary workers. Holdings provides both a powerful mobile app and a web platform, ensuring everyone—from your grant manager to your ED—can see spending without getting lost in complex menus.

Administrators retain full visibility and can adjust controls or assign roles instantly. No waiting for a branch visit or wading through fine print.

Found is highly mobile-focused, perfect for single-person operations, but less flexible when diverse access levels or shared controls are required.

Cash Deposits and Nationwide Access

Many nonprofits still receive cash—at events, as donor gifts, or from program activity. Holdings supports cash deposits at supported retail locations nationwide, making it easy for staff or volunteers to convert physical cash into trackable, segmented funds.

Found, by contrast, does not support cash deposits at all. For organizations in communities where electronic giving isn’t the norm, or for those hosting in-person fundraisers, this can be a dealbreaker.

Banking Fees: Transparency Matters

Nonprofit budgets can’t absorb surprise fees. Holdings has none: no monthly fees, no transaction fees, no wire or ACH fees, and no hidden charges. You can send as many wires or ACH payments as you need, without ever reaching for the fine print.

Minimum balance requirements? Not here. You can manage grants with large reserves or run lean without penalty. Every cent in your account earns 2% interest, every single day.

Found offers a similarly fee-free model but omits wire transfers and cash deposits. Its focus is on simplicity over breadth, which can be too limiting for some nonprofits.

A Platform For Every Stage of Nonprofit Growth

Whether you’re:

• A startup with just a handful of receipts and a single staffer,

• A seasoned grantmaker managing dozens of programs,

• A mid-sized organization putting donor compliance and controls center stage,

• Or a CFO-led nonprofit with formal systems needing modern expense management,

Holdings provides features tailored to your level of financial maturity. Let it be your all-in-one command center, or just plug in to strengthen your existing systems.

Found, with its laser focus on the solo operator, suits those at the earliest, smallest stage. As complexity rises, you’ll likely need to upgrade.

Hands-On Instructions: Getting Started With Holdings

Here’s how a nonprofit can start benefiting from Holdings:

1. Sign up using your organization’s legal info, EIN, and primary contact.

2. Complete the simple onboarding, inviting other team members or granting them roles if needed.

3. Create virtual accounts for each program, grant, or restricted fund—name these for easy reporting.

4. Issue cards to staff, volunteers, or program managers, setting custom limits and approval workflows.

5. Utilize the provided bookkeeping tools, or connect to your accounting system for unified data.

6. Set up cash deposit options and communicate the locations and policies to your team.

7. Download or sync expense reports as needed for grantors, board reporting, or audits.

8. Adjust controls, roles, or account structures as you grow—no new accounts or lengthy branch visits needed.

This steps-based approach means you only enable what you need, when you need it—keeping operations lean and nimble, not weighed down by unnecessary features or complexity.

Scenario: Tracking Multiple Grants Without the Headache

Imagine you’re running three major programs, each with its own funding from different sources. Auditors expect strict separation, your board wants transparent reporting, and you can’t afford mistakes.

With Holdings:

• Set up three virtual accounts in minutes, designating clear names (like “Health Grant 2025” or “Youth Program Fund”).

• Assign cards linked to each account for the specific staff managing those projects.

• Set spend limits, require receipts, and track every purchase in real time.

• At month’s end, export or sync customized reports already tagged and ready for review.

No more chasing paper, color-coding spreadsheets, or sifting through mixed transactions at audit time.

Scenario: Safe, Controlled Team Spending

You’re hosting a community event and need to empower volunteers to buy supplies on the fly. Traditional methods might have you writing checks or reimbursing staff. That’s slow and risky.

With Holdings:

• Issue single-use or event-specific cards to each volunteer.

• Limit the amount that can be spent per card.

• Monitor each purchase in real-time from your dashboard.

• Require photo capture of each receipt at the point of sale.

Not only do you protect your organization’s funds, but you make stewardship simple and stress-free.

Bookkeeping for the Understaffed

Many small nonprofits are just catching up on paperwork between programming and fundraising. Let Holdings handle it.

Turn on bookkeeping services, and dedicated pros categorize, reconcile, and prepare your books—ready for an audit or your next grant application, no matter how overwhelmed your team is.

Your board and donors will love the transparency. Your program team will love spending less time on admin.

Compliance and Audit-Readiness Built In

With many grants and contracts, maintaining compliance is non-negotiable. Holdings gives you the real-time data, separation, controls, and documentation needed to pass audits with flying colors.

Virtual accounts provide irrefutable separation, cards log every approval and receipt, and smart exports make board and funder reporting a breeze.

No more sweat-inducing surprises when a funder asks for a detailed breakdown or justification of spend.

Scaling With Your Needs

Nonprofits change. Maybe you win a big grant and suddenly need tighter controls. Maybe you lose a staffer and have to do more with fewer hands. Or maybe you’re just preparing for growth.

Holdings is designed to flex with you. Add accounts and controls as programs multiply. Reel back when things are simpler. There are no fees or red tape to slow you down.

Found, being more rigid, can’t offer this adaptation—it’s set up for persistent simplicity, never growing into more robust territory.

Managing Volunteers and Temporary Staff Easily

Nonprofits rely on volunteers. Managing spending, reimbursements, or cash advances for them is one of the biggest administrative pain points.

With Holdings, volunteers get temporary cards valid only for the scope and timeframe you set. Spending is capped. Every cent is tracked. The result is control for you, and empowerment for them—without complicated onboarding or risk.

Found has no solution here—cards can only be used by the account owner.

Fundraising Events—No More Petty Cash Nightmares

Events are chaotic: supplies, rentals, catering, last-minute needs. Petty cash is messy and ripe for errors—or worse.

Holdings lets you equip event managers or volunteers with cards, linked to your event fund account, and see all purchases in real time. Easily pull event-specific reports at the close. Compliance issues? None.

Found does not offer event-based spending solutions.

Integrating With Grants Management Workflows

Grantors expect detailed, segmented reporting. Holdings lets you segment direct deposits by grantor, assign spending, and extract reports matched to each grant program.

This beats “lump all gifts in the same bucket then sort later” approaches, and ensures you always have clean, funder-ready backup.

Board Reporting Made Simple

Your finance committee and board want clear, reliable monthly and quarterly reports. Holdings turns this into a few clicks, with ready-made exports by program, grant, or overall summary.

You can brief your board confidently, with the numbers always up to date. There’s no more clunky manual process or chance for embarrassing mistakes.

Safer, Simpler Expense Policies

Creating, enforcing, and adapting your expense policy is seamless with Holdings. Designate the rules once—spend limits, approval chains, category restrictions—and let the platform manage enforcement.

If your expense rules change, update them instantly—no paper memos or risk of miscommunication.

Supporting Organizations of Every Structure

Not every nonprofit fits a mold. Some are partnerships, others are LLCs, most are 501(c)(3)s. Holdings accommodates all standard nonprofit organizational structures, from unincorporated associations to complex, multi-entity networks.

There’s no barrier for small, innovative organizations looking to grow.

Found is tailored tightly to individuals and simple LLCs only.

When Found Might Be Enough

If your nonprofit is just one person, with only unrestricted funds and zero need for spending controls or segmented tracking, Found may work as a bridge. Mobile, simple, and free, it gets the job done when there’s no compliance to worry about.

But as soon as there’s more complexity, compliance, or team-based spending, the limitations show fast.

Comparing Holdings to Other Solutions on the Market

You may wonder how Holdings compares to other banks and fintechs you’ve heard about—QuickBooks Money, Bluevine, Relay, Brex, and the big banks.

Most alternatives do not combine true 2% interest, smart virtual account segmentation, robust card controls, expense management, and bookkeeping into a single nonprofit-ready platform. Some charge fees, only serve for-profits, or fail to offer required integrations.

Holdings stands out for focusing on nonprofit-specific realities, not just small business needs.

The Bottom Line: Why Holdings is Uniquely Nonprofit-Friendly

Holdings is designed for the full nonprofit spectrum—from one-person startups to multi-million-dollar organizations with complex, grant-based financials. You can segment cash, empower teams, automate reporting, keep books clean, and never pay hidden fees. Best of all, every dollar you steward earns 2%—no limits, no tiers, full stop.

Found offers simplicity and ease for freelancers or the most basic operations, but falls short as needs become truly nonprofit-specific.

If you want your financial platform to simplify compliance, reduce manual work, protect grants, adapt to any system, and let you focus on mission over money worries, Holdings is ready.

Ready to Transform Your Nonprofit Finances?

Whether you want an all-in-one command center or just smarter expense controls and reporting, Holdings can meet you where you are. Explore our tools, plug us into existing systems, or use Holdings as your sole hub for financial management. You choose the setup; we make it work.

See for yourself how Holdings is strengthening nonprofits just like yours. Reach out with your questions, and let’s put more time and money where it matters most: your mission.