Fractional Chief Financial Officer

JOB TITLE: Fractional Chief Financial Officer REPORTS TO: President/Chief Executive Officer SALARY RANGE: $80.00 – $95.00/hour

SUPERVISES: Staff Accountant
INTERNAL PARTNERSHIPS: Senior Leadership Team, Finance Committee, Board of Directors

JOIN THE TEAM

TogetherNow is a dynamic and collaborative work environment comprised of dedicated professionals who are driven to make our community a better place. Join our team and make an impact serving the Greater Rochester region with your time, talent, and creativity.

MISSION

The mission of TogetherNow is to foster a holistic, interconnected ecosystem of health, human services, and education in the Greater Rochester community. Established in 2017 through a collective vision shaped by community stakeholders, TogetherNow works collaboratively across a diverse network of providers to improve the well‐being of individuals and families, particularly those impacted by poverty and systemic barriers.

CULTURE STATEMENT

TogetherNow is committed to creating a welcoming environment that embraces, values, respects, and encourages people to show up as their authentic selves to produce their best work. Together, we strive to ensure that our processes, policies, and practices foster fairness, belonging, and equity that reflect the perspectives and values of all people at every level of our organization.

WHAT WE OFFER

• Comprehensive health, wellness, and retirement benefits.
• 403(b) retirement plan with 5% employer match
• Flexible time off program
• Paid sick leave
• 12 paid holidays
• Hybrid work environment with flexibility and collaboration.
• Paid professional development and continuing education opportunities.
• Meaningful work that directly impacts the Greater Rochester community.
• Collaborative team culture with opportunities for engagement, committee participation, and organizational events.

WHAT YOU'LL BE DOING

TogetherNow seeks an experienced Fractional Chief Financial Officer to provide senior‑level financial leadership, oversight, and strategy on a part‑time basis. TogetherNow is a growing, startup‑stage nonprofit with an annual operating budget of less than $8 million and a team of fewer than 25 FTEs. As a recently independent organization, TogetherNow is building the financial infrastructure needed to support strong stewardship, grant compliance, accurate reporting, strategic decision‑making, and long‑term sustainability.

At this stage, TogetherNow requires seasoned nonprofit financial leadership and strategic oversight, but not a full‑time CFO position. The fractional CFO role is designed to provide right‑sized executive finance leadership in a structure that aligns with the organization’s current size, complexity, and stage of development. The expected time commitment is around 20 hours per week but may vary based on organizational priorities, budget development, audit cycles, grant deadlines, Finance Committee and Board meetings, cash flow needs, and special projects.

The Fractional CFO will serve as a member of TogetherNow’s Senior Leadership Team and will supervise the organization’s finance function in partnership with the full‑time Staff Accountant. TogetherNow’s finance function is designed as a two‑role structure that combines full‑time accounting operations with part‑time senior financial leadership. The Staff Accountant is responsible for day‑to‑day accounting, transaction processing, reconciliations, documentation, payroll support, accounts payable, accounts receivable, grant/contract support, and preparation of financial materials. The Fractional CFO is responsible for financial strategy, review, approval, analysis, internal controls, budgeting, forecasting, cash flow management, grant finance oversight, audit coordination, and board‑facing financial reporting.

The ideal candidate will bring significant nonprofit finance experience, strong judgment, and the ability to translate financial information into strategic guidance for the CEO, Senior Leadership Team, Finance Committee, and Board of Directors.

KEY RESPONSIBILITIES

Financial Leadership and Strategy

• Serve as a member of TogetherNow’s Senior Leadership Team.
• Advise the CEO on financial strategy, sustainability, risk, resource allocation, and organizational growth.
• Provide strategic financial guidance to support mission alignment, operational effectiveness, and long‑term sustainability.
• Develop financial models, projections, and scenario plans to support executive decision‑making.
• Identify and communicate financial risks, opportunities, trends, and trade‑offs.
• Support revenue diversification, reserve planning, investment strategy, and long‑term financial planning.
• Partner with the CEO and executive team to ensure financial decisions are aligned with organizational priorities and available resources.

Supervision of Finance Function

• Provide finance/accounting supervision to the Staff Accountant.
• Establish clear expectations, deadlines, and review processes for finance and accounting workflows.
• Review work prepared by the Staff Accountant, including reconciliations, payment runs, payroll reports, grant vouchers, financial schedules, and supporting documentation.
• Support the Staff Accountant in resolving coding questions, documentation gaps, reconciliation issues, and accounting discrepancies.
• Promote a collaborative, high‑accountability finance function with clear separation of duties.
• Identify opportunities to improve workflow, strengthen documentation, and build staff capacity.
• Coordinate with the CEO on performance expectations, staffing needs, and finance function structure.

Budgeting, Forecasting, and Financial Planning

• Lead development of TogetherNow’s annual operating budget in partnership with the CEO and Senior Leadership Team.
• Develop and monitor organizational, program, department, and grant budgets.
• Update budget forecasts no less than quarterly.
• Prepare and review budget‑to‑actual reports and variance analyses.
• Provide recommendations to the CEO regarding budget adjustments, expense controls, and resource allocation.
• Support financial planning for new initiatives, contracts, grants, and strategic investments.
• Ensure the budget process is timely, collaborative, accurate, and useful for management and governance.
• Monitor revenue and expense trends and advise leadership on financial implications.

Financial Reporting and Analysis

• Review all financial reports prior to distribution to the CEO, Finance Committee, Board, funders, or other stakeholders.
• Prepare or oversee preparation of monthly, quarterly, and annual financial statements.
• Review general ledger activity for accuracy, completeness, and consistency.
• Review bank reconciliations, balance sheet reconciliations, and month‑end close materials.
• Provide clear written and verbal analysis of financial performance, budget variances, cash position, revenue projections, and financial risks.
• Develop financial dashboards or management reports as needed.
• Ensure financial reporting supports informed decision‑making by non‑finance leaders.

Accounts Payable, Expenditure, and Payment Oversight

• Approve all program expenditures in accordance with approved budgets, internal policies, funding restrictions, and available cash flow.
• Review and approve reimbursement requests, fund requests, credit card documentation, and payment requests.
• Review and approve payment runs prepared by the Staff Accountant.
• Review and sign all issued checks in accordance with TogetherNow’s approval policies and internal controls.
• Ensure expenses are properly coded, documented, allocated, and allowable under applicable grant or contract requirements.
• Monitor organizational expenses to ensure efficient and responsible use of assets.
• Escalate significant, unusual, or unbudgeted expenses to the CEO as appropriate.

Payroll Oversight

• Review biweekly payroll reports prior to final approval or processing.
• Review payroll coding and allocations to ensure accuracy across programs, grants, and funding sources.
• Perform a biannual review of all payroll records to confirm accuracy, documentation, authorization, and compliance.
• Coordinate with the Staff Accountant, CEO, HR/business operations staff, and payroll provider to resolve payroll discrepancies.
• Support financial analysis related to staffing levels, compensation, benefits, personnel budgets, and payroll‑related liabilities.
• Ensure payroll expenses are accurately reflected in financial reports and grant allocations.

General Ledger, Chart of Accounts, and Accounting Oversight

• Review the general ledger on a regular basis to ensure accuracy, completeness, and appropriate coding.
• Manage and maintain the chart of accounts.
• Ensure transactions are classified consistently across programs, departments, grants, and funding sources.
• Oversee accounting treatment for restricted funds, accruals, prepaids, deferred revenue, receivables, payables, payroll liabilities, and allocations.
• Review journal entries and recurring entries as needed.
• Ensure accounting practices are aligned with nonprofit accounting standards and generally accepted accounting principles.
• Recommend improvements to accounting structure, systems, and reporting design.

Cash Flow, Banking, and Treasury Management

• Review and manage organizational cash flow.
• Monitor balances in bank accounts to determine when cash shortages, excess balances, or liquidity concerns may arise.
• Recommend when transfers should be made to maximize liquidity, meet obligations, reduce risk, and increase interest earnings where appropriate.
• Approve and process all inter‑account bank transfers.
• Review bank activity and ensure timely reconciliation of bank accounts.
• Maintain appropriate oversight of banking relationships, cash controls, and account structure.
• Advise the CEO on cash flow risks, reserve needs, and short‑term financial planning.

Grants, Contracts, Restricted Funds, and Compliance

• Review and approve all grant submissions, grant budgets, vouchers, invoices, reimbursement requests, and financial reports.
• Monitor grant spending and ensure alignment with approved budgets, funder requirements, allowable cost rules, and reporting deadlines.
• Oversee the appropriate release of temporarily restricted funds.
• Monitor restricted and unrestricted fund balances.
• Oversee expense allocations across grants, contracts, programs, and departments.
• Advise the CEO and program leads on financial implications of grant terms, reimbursement structures, match requirements, restricted funding, and sustainability risks.
• Monitor accounts receivable related to grants, contracts, and reimbursement‑based funding.
• Support preparation of financial materials for funder monitoring, audits, and compliance reviews.

Internal Controls, Policies, and Procedures

• Review, revise, and maintain internal accounting controls, policies, and procedures.
• Recommend changes to the CEO to strengthen financial controls, improve efficiency, and reduce organizational risk.
• Ensure appropriate separation of duties within a lean finance function.
• Review approval workflows for expenditures, reimbursements, credit cards, payroll, bank transfers, contracts, and grant submissions.
• Ensure documentation standards are clear, consistently followed, and audit‑ready.
• Identify control gaps and recommend practical solutions appropriate to TogetherNow’s size, staffing, and risk profile.
• Support implementation of finance policies, procedures, and process improvements.

Audit, Tax, and External Reporting

• Lead or support the annual audit process.
• Coordinate with external auditors and ensure timely preparation of schedules, reconciliations, and requested documentation.
• Review audit materials, draft financial statements, management letters, and related findings.
• Support preparation and review of IRS Form 990 and other required financial filings.
• Ensure timely completion of required government, funder, and compliance reports.
• Work with the Staff Accountant to maintain records that support audit readiness throughout the year.
• Advise the CEO and Finance Committee on audit findings, corrective actions, and financial compliance matters.

Insurance, Risk Management, and Compliance

• Review insurance coverage annually and recommend changes to the CEO.
• Coordinate with insurance brokers and other advisors as needed.