Case File: An Interim CFO
Case File
Need:
An Interim CFO
Service:
Interim CFO Consultant
Industry:
Nonprofit
Situation: CASPAR, a nonprofit organization that provides community-based services for individuals affected by substance abuse, was looking for finance and accounting assistance. A key member of the financial department had left the organization and CASPAR needed to create a budget for the upcoming fiscal year, project year-end results, and prepare for a financial audit, as well as implement new accounting software.
Response: CASPAR engaged AMS to assist and AMS provided a financial professional with two decades of nonprofit experience to serve as interim CFO. The CFO consultant worked with the Executive Director to determine priorities for the organization and then led the management team to develop a budget for the next fiscal year and prepare the year-end financial forecast. The CFO consultant also assisted the accounting staff with closing the year-end books and preparing for the upcoming audit.
Results: CASPAR’s budget and year-end forecast were both completed on time and the organization was able to meet its target goals. The year-end books were closed and the audit was completed with no adjustments. CASPAR’s staff utilized a parallel process to begin the transition to a new accounting software. Additionally, the CFO consultant successfully transitioned work to the incoming permanent CFO.
The AMS staff was supportive throughout the transition process and adept in matching the CFO consultant to our specific needs. The CFO consultant was very personable, extremely knowledgeable, and met all deadlines set by the Board of Directors and myself.
-- Wilfred Labiosa, Executive Director, CASPAR
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