Mission First Operations

Keep nonprofit books accurate and current, track grants and restricted funds, and receive reliable monthly financial statements without building an in-house accounting team.

Give nonprofit leaders and boards clear, timely financial information to guide decisions, monitor budgets and grants, and understand cash and organizational performance.

Help nonprofit leaders plan finances, understand future cash needs, and make informed decisions as their organizations grow or change.

Help nonprofits make timely, controlled payments and keep contributions, grants and other revenue accurately recorded and reconciled.

Get dependable nonprofit accounting oversight and CFO guidance from a consistent team that knows your organization and supports informed financial decisions.

Nonprofit accounting

MFO provides outsourced accounting built exclusively for nonprofits, including transaction coding, monthly reconciliations and close, and accounting for donor-restricted funds and grants. The service supports 501(c)(3)s, 501(c)(4)s and related entities with a dedicated Nonprofit Controller, Senior Accountant and CFO. MFO can bring overdue or inconsistent books current through a separately scoped cleanup project and works with clients’ auditors and 990 preparers, but does not perform audits or prepare tax returns.

Category: Accounting Services

• Track Restricted Funds And Grants
  Tracking donor restrictions and spending against each grant award helps maintain nonprofit-specific financial records.
• Close And Review Books Monthly
  A consistent monthly close incorporates key accounting entries and review before financial information is delivered.
• Reconcile Accounts Every Month
  Monthly reconciliations help ensure account records are accurate and ready to support questions from board members, funders or auditors.
• Track Expenses By Function
  Expense tracking by program, management and general, and fundraising supports preparation of Form 990 information and audited financial statements.
• Manage Books Across Related Entities
  Separate books, shared costs and intercompany activity are handled for related entities, including affiliated 501(c)(3) and 501(c)(4) organizations.
• Work With A Dedicated Nonprofit Team
  A dedicated controller, senior accountant and CFO provide accounting support from a team that gets to know the organization.
• Code Transactions Throughout The Month
  Ongoing coding, attached receipts and early questions help keep financial records current throughout the month.
• Prepare Records For Auditors And 990 Preparers
  Accounting records and supporting schedules are prepared for auditors and 990 preparers, with MFO coordinating directly with them. Audit work and tax return preparation are not provided.
• Bring Overdue Books Current
  A separately scoped cleanup project can bring delayed or inconsistent accounting records up to date.
• Set Up Accounting Systems
  MFO configures the chart of accounts, classes and tools for the organization and regularly moves clients to QuickBooks Online from other accounting systems.

Financial reporting

MFO prepares monthly nonprofit financial statements and board-ready reports to show leaders where the organization stands and where it is headed. Reporting can include statements of financial position and activities, budget-to-actual comparisons, grant and restricted-fund reports, board packets, cash positions and forecasts, and consolidated views across related entities. Reports are structured around the needs of their readers and decisions, with monthly numbers reconciled and reviewed by a controller before delivery. MFO also prepares reconciliations, schedules and supporting documentation for auditors and 990 preparers, and works directly with them; it does not perform audits or prepare tax returns.

• Understand Your Organization’s Financial Position
  Monthly statements give leaders a recurring view of the organization’s financial position and activities, prepared in line with nonprofit accounting standards.
• Track Spending Against Your Budget
  See how spending compares with plans across programs, grants or departments, and review the variances that matter.
• Monitor Grant Spending And Restricted Funds
  Track grant spending and remaining award balances, and see restricted funds released as conditions are met.
• Focus Board Discussions On Key Decisions
  Present concise financial summaries alongside supporting detail so board and finance committee members can review relevant information and focus on decisions.
• See Cash Availability And Potential Scenarios
  Understand current cash, expected inflows and how long available cash may last under different scenarios.
• Review Reconciled Numbers With Your Team
  Controller review takes place before delivery, and recurring calls provide an opportunity to discuss the reports with the MFO team.
• View Finances Across Related Entities
  Review reporting for individual entities as well as consolidated views across related organizations.
• Prepare Documentation For Auditors And 990 Preparers
  Provide requested reconciliations, schedules and supporting documents to auditors and 990 preparers, with MFO working directly with auditors through fieldwork.
• Keep Reports Linked To Your Accounting
  Reports are built from accounting data structured around programs, grants and classes, using automated, live-linked reporting tools rather than side spreadsheets.

Nonprofit financial advisory

MFO provides CFO-level financial guidance to nonprofit leaders and boards without requiring a full-time hire. A Nonprofit CFO works alongside the organization’s controller, providing budgets, rolling forecasts, cash planning, board and finance committee support, and guidance on growth, structure, systems, and controls. Planning is tied to the accounting and adjusted as funding, staffing, or programs change. MFO works alongside clients’ legal counsel, auditors, and 990 preparers but does not prepare tax returns or perform audits.

• Access CFO-Level Guidance Without A Full-Time Hire
  Nonprofit leaders can receive CFO-level financial guidance from an advisor who works alongside their controller, without hiring a full-time CFO.
• Build Budgets For Board And Funder Needs
  Budgets can be structured by program, grant, or entity and prepared in formats used by the board or funders, with reporting connected to the organization’s accounting.
• Update Forecasts As Plans And Conditions Change
  Regularly updated forecasts help leaders see expected year-end results and understand how changes in funding, staffing, or programs affect the plan.
• Understand Cash Runway And Commitments
  Cash runway and scenario planning give leadership a forward-looking view of available cash and help them assess what the organization can commit to.
• Prepare Boards For Financial Decisions
  Boards and finance committees receive financial summaries, recommendations, and support walking through the information needed to make decisions.
• Plan New Programs And Related Entities
  Organizations can get financial guidance when planning growth, launching programs, or setting up related entities, including support with accounting setup, banking, budgets, and shared-cost arrangements.
• Strengthen Finance Systems And Controls
  Chart of accounts design, approval workflows, and internal controls help organizations develop the finance systems and structure they need as they grow and prepare for audits.

Accounts payable and receivable

MFO manages day-to-day money movement for nonprofits, including bill payments, company cards, employee reimbursements, contributions, grants, pledges and invoicing. The service includes invoice coding and approval routing, vendor verification, payment controls, donor-restriction tracking, and reconciliation of payables, receivables and donor records to the books. MFO configures tools such as Ramp to fit client approval policies and processes transactions throughout the month.

Category: Accounting Services

• Strengthen Payment Controls
  Approval workflows, additional review for larger payments and direct verification of vendor bank-detail changes help control payment processing and guard against payment fraud.
• Pay Bills On Schedule
  MFO manages invoice coding, approval routing, payment scheduling and records. Payments are released after client approval, helping bills be handled on time while the client retains approval authority.
• Reconcile Contribution Records
  Monthly reconciliation across bank records, the donor database and accounting system helps keep contribution records consistent for development and finance.
• Manage Cards And Reimbursements
  MFO manages company cards, collects receipts and processes employee reimbursements, coding each transaction to the appropriate program, grant and account.
• Track Grants And Pledges
  MFO records grant awards and multi-year pledges as receivables and tracks them through collection.
• Track Donor Restrictions
  MFO tracks restricted gifts from receipt to release, making it possible to follow donor restrictions as funds are used.
• Verify Vendor Details
  MFO verifies new vendors, collects W-9s up front and confirms changes to vendor bank details directly with the vendor.
• Reconcile Records Monthly
  Monthly reconciliation of payables, receivables and donor records to the books helps keep financial records aligned as part of each close.
• Match Invoices To Deposits
  MFO invoices program fees, memberships and other earned revenue, records the revenue and matches it to deposits.
• Configure Workflows And Tools
  MFO documents existing payment and gift workflows, then configures Ramp and its approvals to match client policies and connect with the accounting books.
• Process Transactions Throughout The Month
  MFO processes bills, collects receipts and records gifts throughout the month, rather than waiting until month-end.
• Prepare Annual 1099s
  MFO prepares 1099s each year, supporting the nonprofit's vendor payment processes.

Controller & CFO Team

A dedicated nonprofit finance team comprising a Nonprofit Controller, Nonprofit Senior Accountant and Nonprofit CFO. The controller is your main point of contact, oversees the monthly close and coordinates with auditors and other partners. The senior accountant handles complex accounting, while the CFO provides budgets, forecasts and strategic advice to help your board align financial strategy with your mission. Small client loads, recurring meetings and access between meetings help the team build a lasting understanding of your organization.

• Oversee Monthly Close And Accounting Work
  The controller owns the monthly close and reviews accounting work, giving your organization a clear point of contact for questions and coordination with external partners.
• Align Financial Strategy With Mission
  The CFO provides strategic financial advice and helps your board connect financial strategy to your organization’s mission.
• Handle Complex Nonprofit Accounting Tasks
  Senior accountant support for reconciliations, allocations and complex entries helps ensure financial reports are accurate and compliant.
• Build Nonprofit Budgets
  CFO-provided budgets support your organization’s financial planning and help inform decisions about its financial strategy.
• Prepare Financial Forecasts
  CFO-provided forecasts give your organization forward-looking financial planning support.
• Keep A Team That Knows Your Organization
  Small client loads help the team build familiarity with your organization and provide continuity. MFO reports that clients stay with it about three years on average.
• Stay Connected Between Regular Meetings
  Regular check-ins provide a predictable way to align on priorities, questions and deadlines, with email or calls available when something comes up.
• Know Who Handles Each Task
  Clear ownership makes it easier to understand who is responsible for work and who to contact with questions.