Investment strengthens long-standing partnership to help states scale Child Savings Account (CSA) programs
DRESHER, Pa., June 15, 2026 /PRNewswire/ — Ascensus, the engine at the center of America’s savings ecosystem, today announced a strategic investment in Nonprofitly, a mission-driven technology provider. Nonprofitly, through its flagship platform, Outcome Tracker, supports Child Savings Account (CSA) programs across 14 states with more than 6.5 million CSAs holding over $3.5 billion. The investment deepens a partnership spanning more than a decade and reinforces a shared commitment to advancing education savings through scalable, data-driven solutions. Financial terms were not disclosed.
“After more than ten years of collaboration, we are excited to deepen our partnership even further,” said Peg Creonte, President of Ascensus Government Savings. “We share a commitment to expand access to education savings for large and diverse populations. The combination of Ascensus’ market leading position in 529 administration and Nonprofitly’s capabilities will help more states deliver effective Child Savings Account programs. These programs are an important catalyst for early education savings, complimenting 529 plans and emerging approaches such as Trump Accounts.”
“This next chapter with Ascensus builds on a foundation of trust and shared vision,” said Matt Schubert, Founder and CEO of Nonprofitly. “Together, we are focused on helping states and communities expand access to education savings at scale, combining best-in-class technology, deep program expertise, and a long-term commitment to better outcomes for the families we serve.”
Through the investment, Ascensus will further integrate its industry-leading 529 program administration capabilities with Outcome Tracker’s data and program management technology, enabling states to launch, manage, and scale CSA programs more efficiently. For families, these programs provide starter contributions and a clear pathway to long-term education savings. For states, they offer a highly visible, scalable way to expand access and underscore the impact of early savings.
As part of the transaction, Peg Creonte will join Nonprofitly’s Board of Directors, and Raghav Nandagopal, Ascensus’ Chief Corporate Development Officer, will join the company as a Board Advisor.
Ascensus is the nation’s leading provider of 529 plan administration services, supporting 49 plans across 31 states and the District of Columbia. For more than a decade, the company has worked alongside state clients and partners on CSA programs to introduce families to education savings early, often serving as a gateway to broader 529 participation.
Gentry Locke Attorneys was pleased to assist Nonprofitly in its strategic partnership and capital raise. The Gentry Locke deal team was led by Wythe Michael, partner in the firm’s Richmond office and Mike Moro, partner in the firm’s Norfolk office.
About Ascensus
Ascensus is the engine at the center of America’s savings ecosystem. The company makes saving easier by bringing together intuitive technology, AI, and high-touch service that supports better financial outcomes for savers, small- to mid-sized businesses, state governments, and leading financial institutions. Ascensus offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, as well as fiduciary and total rewards services. The company supports over 16 million savers, oversees $913+ billion dollars in assets under administration, and employs more than 5,000 associates as of March 31, 2026. For more information, visit ascensus.com.
About Nonprofitly
Nonprofitly (formerly Outcome Tracker by VistaShare) equips nonprofit organizations with the tools, data, and insight they need to run programs, serve communities, and demonstrate impact—all within a single secure platform. By bringing together people, processes, and information, Nonprofitly enables organizations to reduce administrative burden, respond more effectively to community needs, and translate everyday work into measurable, meaningful outcomes. For more information, visit www.nonprofitly.com.
CONTACT:
Greg Winter
SVP, Corporate Communications
Gregory.Winter@ascensus.com
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SOURCE Ascensus
