Scope of Work for Finance Controller Contractor

I. Introduction

InnovateEDU, an education-focused nonprofit organization, seeks a skilled and experienced Finance Controller Contractor or service provider to manage its financial operations. The ideal candidate will understand nonprofit accounting principles, grant management, and financial reporting.

II. Responsibilities

A. Accounting and Financial Management

  • Maintain accurate and up-to-date accounting records using QuickBooks (or specified accounting software)

  • Reconcile bank statements and monitor cash flow

  • Prepare quarterly financial statements

  • Assist with annual audits

  • Ensure compliance with all applicable federal, state, and local tax laws and regulations.

B. Grant Management

  • Verify financials associated with grant budgets and financial reports

  • Support the Finance team to ensure compliance with grant agreements and reporting requirements

C. Budgeting and Forecasting

  • Assist in the development of the annual organizational budget

  • Monitor budget performance and identify variances

  • Prepare financial forecasts and projections

  • Analyze financial data and provide insights to management

D. Reporting and Analysis

  • Generate regular financial reports for management and the Board of Directors

  • Analyze financial data and identify trends and opportunities

  • Prepare ad hoc financial reports as requested

  • Provide financial analysis and support for decision-making

III. Qualifications

  • Bachelor's degree in Accounting or related field

  • CPA or equivalent certification preferred

  • 5+ years of experience in nonprofit accounting and finance

  • Strong knowledge of nonprofit accounting principles and GAAP

  • Experience with grant management and reporting

  • Proficiency in QuickBooks (or specified accounting software) and Microsoft Excel

  • Excellent analytical and problem-solving skills

  • Strong communication and interpersonal skills

IV. Deliverables

  • Quarterly financial reports to the Board of Directors

  • Annual budget

  • Grant budgets and financial reports

  • Audit preparation and support

  • Ad hoc financial reports as requested

V. Timeline

  • Scope of work would start Dec 1, 2024 for an annual period of one year.

VI. Compensation

  • The vendor should submit a bid for an hourly rate differentiated by position.

VII. Reporting

  • The Finance Controller Contractor will report directly to the Finance and Operations Manager, who will meet monthly with the CEO.

VIII. Other

  • The Finance Controller Contractor will be expected to work in a remote format.

  • The Finance Controller Contractor will provide their computer and other necessary equipment.

  • The Finance Controller Contractor will be required to sign a confidentiality agreement.

IX. Next Steps

Bids are due no later than Nov 15, 2024 at 5pm EST to Christian Claus at christian@innovateedunyc.org.