Why “financial partner” is confusing
Many nonprofit leaders know they are overwhelmed by finances, but not exactly what problem they are solving.
- Some are drowning in day-to-day transactions but have no clean reports.
- Others get financial statements but still don’t fully understand their margins, cash runway, or risks.
- Boards and funders often ask for more sophisticated forecasting than staff capacity allows.
The result is that “we need financial help” can mean anything from data entry support to strategic financial leadership. This is why clarifying what bookkeepers, controllers, CFOs, and accountants actually do is a critical first step.
What a bookkeeper does (and doesn’t do)
A bookkeeper focuses on accuracy and organization of day-to-day financial data.
Typical responsibilities:
- Entering and coding transactions (bills, invoices, credit card charges, payroll entries)
- Reconciling bank and credit card accounts
- Maintaining the general ledger and basic supporting schedules
- Producing standard reports (e.g., profit & loss, balance sheet) from the accounting system
What a bookkeeper usually does not do:
- Interpret what the numbers mean for programs or strategy
- Build budgets or financial models
- Design stronger internal controls or financial processes
- Advise leadership or the board on financial decisions
When you need this level:
- You are behind on basic bookkeeping and reconciliations.
- Your audit or accountant keeps flagging messy records.
- Leaders are spending too much time on data entry instead of running programs.
In TCG’s tiered approach, this is the first layer, creating clean, reliable financial data that everything else depends on.
What a controller does
A controller takes you beyond “are the numbers entered?” to “are the numbers trustworthy, timely, and managed well?”
Typical responsibilities:
- Overseeing the bookkeeper and reviewing their work
- Ensuring timely month-end close and standardized reporting
- Establishing and maintaining internal controls (approvals, segregation of duties, documentation)
- Supporting grant and funder reporting, tracking restricted funds, and preparing schedules
- Helping interpret variances in budget vs. actuals and advising on operational adjustments
What a controller usually does not do:
- Own long-range strategic planning or capital structure decisions
- Act as the primary financial voice in board-level strategic conversations
- Design organization-wide financial strategy (pricing, reserves, growth plans)
When you need this level:
- Your books are “done,” but leaders don’t fully trust or understand the reports.
- Budget vs. actuals are confusing or consistently off, and no one owns fixing that.
- You are managing multiple grants, restricted funds, or complex revenue streams.
In TCG’s second layer, controller-level support adds structure, controls, and clarity so leadership can actually use financial information to run the organization.
What a CFO does
A CFO (Chief Financial Officer) operates at the intersection of finance, strategy, and leadership.
Typical responsibilities:
- Translating numbers into strategic insights and options for executives and the board
- Leading budgeting and forecasting, including multi-year projections and scenario planning
- Advising on cash management, reserves, financing, growth, and risk
- Aligning financial strategy with mission, impact, and organizational capacity
- Partnering with development, programs, and operations to model new initiatives or investments
What a CFO usually does not do:
- Routine transaction entry or day-to-day bookkeeping
- Detailed month-end reconciliations (though they rely heavily on that work being solid)
When you need this level:
- Leadership and the board are asking questions about sustainability, scaling, risk, or “what if” scenarios.
- You have meaningful complexity: multiple entities, rapid growth, significant grants, or new business lines.
- You want a thought partner who can sit at the leadership table and help drive mission-aligned financial decisions.
In TCG’s third layer, CFO-level support provides strategic guidance, storytelling with numbers, and leadership alignment so financial decisions support long-term impact.
Where TCG fits: a tiered model
TCG’s value lies in offering all three internal-facing layers—bookkeeping, controller, and CFO—so nonprofits can get the right level of support at the right time and scale up as they grow. Here’s how TCG’s tiered approach adds value:
- You don’t overbuy: small organizations can start with bookkeeping and limited controller oversight.
- You don’t outgrow your partner: as your needs become more complex, you can add controller and CFO capacity instead of starting over with a new firm.
- You get alignment: each layer is designed to support the next, so strategizing at the CFO level is grounded in accurate, well-managed data.
This structure helps answer the question: “Do we need a bookkeeper, controller, or CFO?” with “You probably need some of each—just in different proportions depending on your size and complexity.”
How an outside accountant fits in (and why it’s different)
An outside accountant (often a CPA firm) plays a distinct role that complements, but does not replace, TCG’s work.
Typical responsibilities for the outside accountant:
- Preparing the annual audit or financial review
- Preparing tax filings (e.g., Form 990) and other required regulatory reports
- Providing independent assurance to your board, funders, and regulators that your financial statements are fairly presented
- Advising on technical accounting issues and standards (e.g., revenue recognition, leases, restricted funds treatment)
Why this is outside TCG’s scope:
- TCG focuses on internal financial management: building processes, providing ongoing financial leadership, and supporting decision-making.
- Accountants focus on external reporting and compliance: ensuring your financials meet standards required by regulators, funders, and the public.
- To maintain independence, your external accountant typically cannot both prepare your internal books and audit them.
How TCG and your accountant work together:
- TCG ensures your books are clean, reconciled, and well-documented before they reach the auditor.
- TCG collaborates with your accountant to provide schedules, answer questions, and implement recommended improvements.
- You benefit from both: strong day-to-day and strategic finance plus independent external assurance.
Choosing the right financial partner is less about picking a title and more about matching support to your organization’s complexity, risk, and ambitions. With a tiered approach to bookkeeping, controller, and CFO services—alongside a trusted external accountant for audits and compliance—TCG can help nonprofits build a financial function that is accurate today, strategic for tomorrow, and fully aligned with their mission.