Fractional Finance Consultant

Organization Overview

The Elba Hope Foundation is a nonprofit organization. At the heart of our mission lies a steadfast commitment to sustainable progress and better futures for Africans and the African Diaspora through the interconnected tools of agriculture, conservation, food security, education, youth advocacy, and social justice. 

Our mission is to drive transformative change by fostering innovation, empowering communities, and forming strategic partnerships that will have a lasting impact on these sectors, both today and for future generations.

Position Overview

The Elba Hope Foundation is seeking an experienced nonprofit finance consultant (CPA or equivalent) to serve as a trusted financial advisor to leadership. This consultant will provide independent financial oversight, strengthen financial systems and reporting, and support strategic decision-making as the Foundation continues to grow.

This engagement is designed to complement—not replace—our existing bookkeeping and accounting functions. The consultant will work alongside the Executive Director, Director of Operations, accountants, and Trustees to ensure accurate financial reporting, improve financial infrastructure, strengthen internal controls, and establish scalable processes that support the Foundation's programmes, fundraising activities, grants, and annual audit requirements.

Phase One: Financial Review (2 Weeks)

Conduct a comprehensive review of the Foundation's current financial position to establish a shared financial baseline for leadership, Trustees, and external funding partners.

Scope

• Review current budgets, financial statements, actual expenditures, and cash position.
• Reconcile financial information and assumptions across budgets, forecasts, and accounting records.
• Review grant funding, donor restrictions, funding commitments, and major liabilities.
• Assess short-term and medium-term cash flow projections.
• Evaluate financial reporting currently provided to leadership and Trustees.
• Identify financial risks, inconsistencies, or areas requiring clarification.
• Meet with leadership to discuss findings and recommendations.

Deliverables

Provide a concise Financial Assessment Report that includes:

• Current financial position and organizational financial health.
• Key financial risks and observations.
• Recommendations for immediate improvements.
• Priority actions to strengthen financial management.
• A validated financial baseline to support strategic planning, fundraising, grant applications, and Board reporting.

Phase Two: Ongoing Advisory Support

Pending a successful Phase One engagement, we would invite the candidate to provide ongoing financial advisory support on an as-needed basis (approximately 8 hours every two months). Support may include the following: 

• Review organizational and program budgets.
• Advise on financial forecasting and scenario planning.
• Review cash flow projections and liquidity planning.
• Support financial planning for new initiatives, grants, and major projects.
• Review grant budgets and financial compliance requirements.
• Provide financial analysis to support strategic decision-making.
• Support the preparation of financial reports and materials for Trustee and Finance Committee meetings, providing analysis and recommendations to strengthen financial oversight and strategic decision-making.
• Participate in leadership or Trustee meetings as requested.
• Serve as an independent advisor during significant financial discussions.
• Recommend improvements to financial reporting, forecasting, and budgeting practices.
• Be available for ad hoc questions

Financial Systems & Infrastructure

• Advise on financial systems, templates, and operational processes that improve consistency, transparency, and audit readiness across the Foundation.
• Design monthly financial reporting packages for leadership and Trustees.
• Recommend key financial dashboards and performance indicators.
• Improve grant financial tracking and reporting processes.
• Review chart of accounts structure and program cost allocation methodologies.
• Advise on internal controls, approval workflows, and financial governance.
• Reviewing document retention practices and audit preparedness.
• Identifying opportunities to improve collaboration between leadership, bookkeepers, accountants, auditors, and funding partners.

Expected Outcomes

Through this engagement, the Foundation will have:

• A clear and accurate understanding of its financial position.
• Stronger financial reporting for leadership and Trustees.
• Improved budgeting, forecasting, and cash flow management.
• Consistent financial systems that support organizational growth.
• Enhanced grant financial management and compliance.
• Increased readiness for audits and major funding opportunities.
• Scalable financial infrastructure that supports strategic decision-making.

Engagement

• Initial Financial Assessment (approximately two weeks).
• Ongoing advisory support on a monthly or bi-monthly basis, as needed.
• Additional strategic finance support may be requested during budgeting, audit preparation, major grant submissions, or other significant organizational initiatives.

Compensation

Phase One: Financial Assessment

The initial engagement will consist of a comprehensive financial review conducted over approximately two weeks. This phase includes an independent assessment of the Foundation's financial position, meetings with leadership and key finance partners, reconciliation of financial information, and delivery of a Financial Assessment Report with findings and recommendations.

Compensation: Fixed fee of between $4,000 - $5,000, inclusive of all meetings, analysis, and deliverables.

Phase Two: Ongoing Advisory Support

Following completion of the Financial Assessment, the consultant will provide ongoing strategic financial advisory services under a monthly retainer. The consultant will advise leadership on budgeting, forecasting, cash flow, financial reporting, and other strategic finance matters while supporting the Foundation's continued growth.

During the engagement, the consultant will also develop a Finance Playbook consisting of standardized financial templates, tools, and Standard Operating Procedures (SOPs) to strengthen financial consistency, improve operational efficiency, support audit readiness, and provide a lasting financial resource for the Foundation.

Compensation: Monthly strategic financial advisory services retainer at a to-be-determined amount for an initial six-month engagement, with the scope and retainer to be reviewed at the conclusion of the initial term.