Up until the beginning of 2008, the trends for nonprofit accounting software were simple and predictable — accountability, efficiency and better utilization of resources.But the meltdown of the subprime mortgage market and the ensuing slip toward recession will change that landscape for the worse, in three ways:

* Not-for-profit organizations lost money in the meltdown. Some of the biggest players in the subprime market were institutional investors, including some major national and global nonprofits. These organizations will need to scramble to recover, while simultaneously explaining the horrendous losses to their boards, staffs and donors. Nonprofits were told that bonds based on mortgages were a stable, safe and insured investment, but that did not turn out to be the case.

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