Fractional CFO Services

Does your nonprofit need guidance, skills, and experience beyond what your bookkeeper can provide but it can’t afford a full-time Chief Financial Officer?

A Fractional CFO, also known as a Virtual CFO, can provide the services your financial department and nonprofit need to thrive.

What can a Fractional CFO do for us?

Your fractional CFO can assist with things like:

  • Budgeting

    • Crafting your annual budget

    • Aligning the budget with the strategic plan

    • Project and grant budgets

    • Scenario planning

    • Key performance indicators

    • Creating a strong, collaborative budget process

    • Helping program and fundraising leaders manage to budget

  • Reports

    • Creating standard profit & loss, balance sheet, and other reports

    • Cash flow projections, grant spending, and more

    • Financial dashboards

    • Analyzing and presenting your financial reports to the board and management

  • Strategic Thought Partnership

    • For the Executive Director

    • For the Treasurer, Finance Committee, and Board

    • Bringing financial analysis, acumen, and perspective to big decisions

  • Process Improvement & Documentation

    • Saving money

    • Saving time

    • Automation and leveraging other technology

    • Creating and implementing internal controls

    • Assisting with positive pay implementation

    • Assisting with the implementation of electronic payment systems

    • Ensuring your financial software is set up optimally

    • Documenting key processes, passwords, etc.

  • Audit

    • Guiding the audit and engaging with the auditors

    • Reducing pain and frustration

    • Setting up future audits for success

  • Policies

    • Financial Policies & Procedures

    • Investment Philosophy and Policy

    • Gift Acceptance Policy

    • Document and Records Retention Policy

    • Delegation of Authority Policy

    • Check Signing Policy

    • Reimbursement or Per Diem Policy

    • Credit Card Policy

    • Purchasing Policy

    • Criminal Background Check Policy

    • Whistleblower Protection Policy

  • Data Accuracy

    • Examining accounting records to confirm consistency and accuracy

    • Bank and credit card reconciliation

    • Payroll Deduction / Benefits reconciliation

    • Fundraising records reconciliation

  • Special Projects leadership

    • Setting up benefits for staff

    • Setting up 401k / 403b for staff

    • Setting up your applicant tracking system

  • Administrative staffing

    • Ensuring you have the right mix of skills

    • Hiring, retention, and evaluation support

    • Training and professional development for your administrative team

    • Staffing resiliency (documenting roles and key processes, plan for continuity during periods of understaffing)

Note: we do not provide audit, tax, or attestation services. We would be happy to direct you to professionals who can help you with that.

How do I know if we’re ready for a Fractional CFO?

  • Your nonprofit can’t get the answers it needs to make strategic financial decisions, or day-to-day decisions, with confidence

  • Your nonprofit has revenue above $1,000,000 per year

  • Your nonprofit has multiple programs from multiple funding sources

  • Your auditor struggles to complete their work quickly and easily

  • Your nonprofit is undergoing, or needs to undergo, significant changes

If any of these describe your nonprofit, you may benefit by adding a fractional CFO.

Have more questions?

Check out our FAQ, here.