CYMA Announces $310,000 Grant Program For Charitable Organizations

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CYMA Systems, Inc., a leading developer of not-for-profit accounting software has announced a grant program for charitable organizations with less than $5,000,000 in annual revenue. Under the grant program, CYMA will provide funding for up to $3,100 in accounting software and services to qualifying 501(c)(3) organizations. Under the program, grant proceeds are used to acquire CYMA not-for-profit accounting software, CYMA support services, and third party software from Pervasive Software. The grant program is limited to 100 recipients and applications must be received by July 31, 2003.

"CYMA is proud of our association with the thousands of not-for-profit organizations who use our accounting software," said Steve Brueckner, CYMA Executive Vice President. "We know that many charitable organizations who could benefit from a sophisticated accounting system like ours are strapped for operating funds due to reduced contributions and this is our way of helping."

Under the terms of the grant program, approved non-profits will receive a single user bundled version of the CYMAIV Not-for-Profit Edition accounting system. The bundle includes the System Manager, General Ledger, Accounts Payable, Accounts Receivable, Payroll and Bank Reconciliation modules. The organization will also receive a one-year enrollment in the CYMA Software Maintenance Plan, which provides continuing updates to the accounting software. In addition to the software and maintenance program, the approved non-profit organization will also receive 5 telephone support incidents and a 3 user Pervasive 2000 Workgroup database license. The total retail value of the software and services included in the bundle is $4,095.00.

The CYMA grant program provides a $3,100.00 credit toward the total purchase, meaning the organization must pay only $995 for the bundle. To qualify, the organization must provide proof of their 501 (c) (3) status, demonstrate that they meet the revenue/operating budget provisions of the grant program and submit a grant request found on the CYMA web site at www.cyma.com/nfpgrant.

The grant program is targeted to smaller charitable institutions and as such CYMA is limiting it to those 501(c)(3) organizations that have annual revenue or an annual operating budget of less than $5,000,000. To qualify for a CYMA grant, the non-profit must provide a IRS Form 990 or other sufficient documentation of the organizations financial resources. "Our goal is to assist as many small charitable organizations as possible," said Brueckner. Proper not-for-profit accounting, especially in a fund raising environment, requires a sophisticated accounting system. Many smaller organizations are using inexpensive "off-the-shelf" systems that really aren't suited for the financial reporting demands required by law. But they just can't afford anything else. That's where our grant program comes in."

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