Financial, Accounting, and Advisory Services

REQUEST FOR PROPOSALS (RFP)

Financial, Accounting, and Advisory Services

The Bay Area Electric Railroad Association (BAERA), which operates the Western Railway Museum (WRM), is seeking proposals from qualified Certified Public Accounting (CPA) firms or accounting professionals to provide comprehensive financial, accounting, reporting, tax, and advisory services to the organization.

BAERA is a nonprofit organization dedicated to preserving and interpreting the history of electric railway transportation and operates the Western Railway Museum in Solano County, California.

The selected firm will work collaboratively with Association staff, executive leadership, the Treasurer, Finance Committee, and Board of Directors to maintain accurate financial records, strengthen financial reporting and internal controls, support effective financial decision-making, and ensure the Association fulfills its applicable financial and regulatory obligations.

BAERA seeks a responsive financial partner with demonstrated nonprofit accounting expertise who can provide both routine accounting services and proactive financial guidance as the organization continues to grow.

2. SCOPE OF SERVICES

The selected firm will be expected to provide the following services.

A. Bookkeeping and General Ledger Management

The selected firm shall maintain BAERA's general ledger on an accrual basis and provide ongoing bookkeeping and transaction oversight.

Responsibilities shall include:

• Maintain the general ledger monthly.
• Record vendor bills and payments.
• Record deposits and other cash receipts.
• Record bank and credit card transactions.
• Record investment activity.
• Record other financial transactions based upon documentation provided by BAERA.
• Process authorized vendor payments on an established weekly schedule.
• Review transactions for proper account and fund classification.
• Maintain appropriate supporting documentation and schedules.
• Review the general ledger for completeness, accuracy, unusual activity, and proper classification.
• Prepare adjusting and reclassification entries when necessary.
• Maintain appropriate accruals, prepaid expenses, and other period-end adjustments.
• Ensure revenues and expenses are recorded in the appropriate accounting periods, including activity associated with special events.
• Perform monthly and annual closing procedures.

BAERA staff will provide deposit summaries, invoices, authorization information, and other supporting documentation necessary to maintain the accounting records.

B. Bank, Credit Card, and Investment Reconciliations

The selected firm shall:

• Reconcile all bank accounts monthly.
• Reconcile all organizational credit card accounts monthly.
• Reconcile investment accounts to applicable monthly statements.
• Research and resolve reconciling items.
• Identify unusual or outstanding transactions requiring management attention.
• Maintain supporting reconciliation documentation.

C. Revenue, Membership, and Donation Reconciliation

The selected firm shall review and reconcile revenue activity to ensure accurate financial reporting.

Responsibilities shall include:

• Review deposits and supporting documentation for appropriate revenue classification.
• Reconcile donation and membership activity recorded in the general ledger with DonorPerfect reports.
• Reconcile monthly and annual fundraising information, as appropriate.
• Properly account for special event revenue and expenses.
• Identify discrepancies between financial and donor-management records and work with staff to resolve them.

D. Fund Accounting and Grant Management

The selected firm shall assist BAERA in maintaining appropriate nonprofit fund accounting practices.

Services shall include:

• Track restricted and unrestricted funds.
• Track donor-restricted funds, as applicable.
• Track board-designated funds.
• Record authorized disbursements from designated or restricted funds.
• Provide monthly reporting showing fund balances and activity.
• Monitor grant budgets and expenditures.
• Assist with program- and grant-specific budgeting.
• Prepare financial information and reports required by grantors.
• Assist management in ensuring expenditures are appropriately classified and supported.

E. Financial Reporting

Following completion of monthly bookkeeping, reconciliations, and review procedures, the selected firm shall prepare timely financial statements for management and Board use.

Reporting should include, as applicable:

• Monthly financial statements.
• Quarterly financial reporting.
• Annual financial statements.
• Statement of Financial Position.
• Statement of Activities.
• Budget-to-Actual reports.
• Cash position and cash-flow information.
• Restricted and board-designated fund reports.
• Other management reports mutually agreed upon by BAERA and the selected firm.

Financial statements shall be prepared on the accrual basis of accounting and in a format appropriate for nonprofit management and governance.

The selected firm should also be prepared to explain material variances, unusual transactions, financial trends, and other matters requiring management or Board attention.

F. Budgeting, Forecasting, and Financial Planning

The selected firm shall provide assistance with BAERA's annual and long-term financial planning processes.

Services may include:

• Annual operating budget development.
• Departmental and program budgeting.
• Grant-specific budgeting.
• Cash-flow forecasting.
• Multi-year financial projections.
• Scenario planning.
• Financial sustainability analysis.
• Budget-to-Actual monitoring.
• Assistance evaluating the financial impact of significant operational or strategic decisions.

The selected firm should work collaboratively with executive leadership and the Finance Committee during development and monitoring of the Association's annual budget.

G. Year-End Closing and Audit Coordination

The selected firm shall perform comprehensive year-end closing procedures and prepare BAERA's financial records for its annual independent audit, review, tax preparation, or other applicable accounting services.

Responsibilities shall include:

• Comprehensive year-end general ledger review.
• Review of qualifying expenditures for capitalization.
• Recording fixed assets.
• Updating fixed asset schedules.
• Recording depreciation.
• Recording necessary year-end adjustments.
• Reconciling material balance sheet accounts.
• Finalizing the general ledger.
• Preparing year-end supporting schedules.
• Preparing audit-ready documentation.
• Responding to auditor requests for financial information.
• Coordinating with BAERA's independent auditor on Federal nonprofit tax returns, including Form 990 and applicable schedules.
• Assisting management with financial questions arising during the audit process.

The selected firm should support an efficient year-end process and work cooperatively with BAERA's independent auditors while maintaining appropriate independence between accounting and audit functions.

H. Tax and Regulatory Filings

The selected firm shall prepare or assist with applicable financial and tax filings, including:

• Applicable California nonprofit and informational tax filings.
• Quarterly sales tax returns, assuming sales remain within the applicable jurisdictional parameters.
• Annual Forms 1099 and related filings.
• Annual Form 571-L Business Property Statement.
• Other routine financial or tax filings mutually agreed upon by BAERA and the selected firm.

The selected firm shall identify filing deadlines and work with BAERA staff to obtain the information necessary for timely submission.

I. Financial Advisory Services

BAERA is seeking more than transactional bookkeeping services. The selected firm should serve as a financial resource and advisor to the organization.

Advisory services shall include:

• Ongoing access for financial and accounting questions.
• Informal financial advice as issues arise.
• Assistance with financial decision-making.
• Guidance regarding nonprofit accounting practices.
• Assistance with financial policies and procedures.
• Advice regarding internal controls.
• Support in responding to management and Board financial inquiries.
• Collaboration with executive leadership regarding emerging financial matters.
• Proactive identification of financial risks, trends, or opportunities.
• Strategic financial advice related to BAERA's operations and long-term sustainability.

J. Meetings and Organizational Support

The selected firm shall be available by telephone and video conference for routine consultation and meetings.

When requested, the firm should also be available to participate in meetings involving:

• Executive leadership.
• Treasurer.
• Finance Committee.
• Board of Directors.
• Department leadership.
• Independent auditors.
• Other professional advisors.

The firm should be capable of presenting financial information in a manner that is understandable to Board members and organizational stakeholders who may not have professional accounting backgrounds.

Requirements

3. SERVICE AND COMMUNICATION EXPECTATIONS

BAERA places a high priority on communication, responsiveness, and continuity of service.

The selected firm will be expected to:

• Respond to routine inquiries within 24–48 hours.
• Establish a consistent monthly financial closing and reporting schedule.
• Communicate promptly regarding material accounting or financial concerns.
• Proactively advise management regarding emerging issues.
• Maintain appropriate confidentiality and data security.
• Provide continuity of service and identify primary and backup contacts assigned to the BAERA account.
• Clearly communicate information or documentation required from BAERA staff.
• Provide transparent pricing so BAERA understands anticipated costs before services are performed.

4. CURRENT FINANCIAL SYSTEMS

BAERA currently utilizes or maintains financial and organizational information through systems that may include:

• QuickBooks
• DonorPerfect
• Banking and investment platforms
• Credit card and expense-management systems
• Payroll and HR systems
• Ticketing and point-of-sale systems
• Other supporting financial and administrative platforms

Proposers should describe their experience working with QuickBooks, DonorPerfect, and other nonprofit accounting and donor-management systems and identify any recommended technology, workflow, or integration improvements.

5. QUALIFICATIONS

BAERA prefers firms with demonstrated experience in nonprofit financial management and accounting.

Proposals should demonstrate:

• Experience providing accounting services to nonprofit organizations.
• Knowledge of accrual-basis nonprofit accounting.
• Experience with restricted and unrestricted fund accounting.
• Experience with donor-restricted and board-designated funds.
• Experience with nonprofit tax and regulatory filings.
• Experience preparing organizations for independent audits.
• Experience with budgeting, forecasting, and financial analysis.
• Familiarity with QuickBooks and nonprofit financial systems.
• Ability to communicate financial information effectively to management and governing boards.
• Appropriate professional licenses and qualifications.

CPA firms should identify the CPA(s) who will oversee BAERA's engagement.

6. PROPOSAL REQUIREMENTS

Interested firms should submit a proposal containing the following information:

1. Firm Overview
   Description of the firm, its history, size, location, and areas of specialization.
2. Nonprofit Experience
   Description of relevant experience serving nonprofit organizations, particularly organizations with restricted funds, donations, memberships, grants, capital assets, museums, historic organizations, or similar operations.
3. Proposed Team
   Identification and qualifications of the individuals who would be assigned to BAERA, including the primary point of contact.
4. Approach and Work Plan
   Description of how the firm proposes to perform the Scope of Services, including the anticipated monthly accounting and reporting cycle.
5. Technology and Systems
   Description of the firm's experience with QuickBooks, DonorPerfect, and related financial technology and recommendations regarding financial workflows or system integration.
6. Transition Plan
   Description of the firm's proposed process and timeline for transitioning accounting responsibilities from BAERA's existing service provider or internal processes.
7. Communication and Availability
   Description of the firm's communication practices, expected response times, and availability for management, Finance Committee, and Board meetings.
8. Fees
   A detailed fee proposal identifying:
• Monthly recurring fees.
• Services included within the monthly fee.
• Year-end and tax preparation fees, if separate.
• Hourly or project rates for services outside the standard scope.
• Any implementation or transition costs.
• Any anticipated annual fee adjustments.
• Any other costs BAERA should anticipate.
9. References
   At least three professional references, preferably from nonprofit clients receiving comparable services.
10. Additional Services or Recommendations
    Identification of any additional services, process improvements, internal control recommendations, or financial management practices the proposer believes would benefit BAERA.

7. PROPOSAL EVALUATION

BAERA will consider factors including:

• Demonstrated nonprofit accounting experience.
• Qualifications and experience of the proposed team.
• Understanding of BAERA's financial and organizational needs.
• Quality and completeness of the proposed approach.
• Experience with nonprofit fund and grant accounting.
• Financial reporting and advisory capabilities.
• Responsiveness and communication model.
• Technology capabilities.
• Transition approach.
• References.
• Overall cost and fee transparency.

BAERA reserves the right to request additional information, conduct interviews with selected firms, negotiate the final scope of services, and reject any or all proposals.

8. SUBMISSION INFORMATION

Proposals should be submitted electronically to:

Bay Area Electric Railroad Association / Western Railway Museum
Attn: Association Administrator
princess.washington@wrm.org

Proposal Deadline: January 1, 2027

Questions regarding this RFP should be directed to:

Association Administrator
Bay Area Electric Railroad Association / Western Railway Museum
princess.washington@wrm.org
707-374-2978 ext 114