In nonprofits, the CFO leads long-term financial strategy and oversight, while the controller handles daily accounting and reporting. in smaller organizations, one person may fill both roles; as nonprofits grow, they become distinct.
What’s the difference between a nonprofit CFO and controller?
Understanding the difference between CFO and controller nonprofit roles is key for a nonprofit executive looking to bring on the right type of financial talent. Both roles are important for safely and strategically managing a charity’s accounting and finance, although not every organization is large enough to justify filling both positions.
A nonprofit CFO is responsible for strategic decision-making, long-range financial planning, budgeting, and board-level reporting. The CFO leads the organization’s financial vision, working closely with the executive director, development team, and board.
In contrast, a nonprofit controller oversees the accuracy of accounting operations, ensuring timely financial reports, reconciliations, and compliance. This role includes managing the general ledger, implementing internal controls, and supporting audit readiness. The controller is the financial operations backbone, ensuring that reporting and systems are accurate and reliable.
FirmKey’s network includes professionals who provide both fractional CFO for nonprofits and controller-level services, depending on your organization’s needs and stage of development.
When does a nonprofit need a CFO vs a controller?
Many organizations ask, “do nonprofits need a CFO or controller?” The answer depends on the organization’s size, funding complexity, and financial goals. In the early stages, a single staff member or outsourced bookkeeper may handle basic accounting. But as operations expand, so does the need for specialized charitable organizations financial leadership.
A controller is often the first critical hire or contractor, managing core accounting processes, reconciliations, and compliance needs. As your organization faces larger audits, pursues growth, or navigates complex funding arrangements, a CFO becomes essential for long-term financial strategy and planning. For many charities, a part-time CFO is a great solution.
FirmKey’s network includes nonprofit financial professionals who support organizations through every phase—from early-stage controller services to fractional CFO support and full financial leadership.
Key responsibilities of a nonprofit CFO and controller
Here’s how the responsibilities typically break down between nonprofit CFOs and controllers:
CFO responsibilities (nonprofit):
- Financial modeling and forecasting
- Budget strategy and long-term planning
- Board and stakeholder reporting
- Grant and fundraising financial support
- Oversight of audit preparation
- Strategic guidance during growth or restructuring
Controller responsibilities (nonprofit):
- Month-end close and reconciliations
- Financial statement preparation
- Grant reporting and project tracking
- Revenue recognition (ASC 606)
- Regulatory compliance (Form 990, 501(c)(3) requirements)
- Internal control implementation
FirmKey’s network partners offer these services on a fractional, outsourced, or project basis, supporting nonprofit accounting roles as organizations evolve.
Should you hire a full-time or fractional CFO for your nonprofit?
For many charities, hiring a full-time CFO isn’t immediately feasible. That’s where fractional CFO for nonprofits services come in. FirmKey’s network includes professionals who serve as part-time CFOs, offering strategic oversight, financial planning, and executive-level reporting—without the cost of a full-time hire.
This flexible model helps charitable organizations access the financial expertise they need, when they need it. Whether you’re preparing for a grant cycle, conducting a HUD or Single Audit, or improving your month-end close, our network of experts can step in with the right level of support.
These services also support non-profit executive finance roles without overburdening lean internal teams.
Nonprofit CFO vs controller 101: understanding the roles
Still unsure about nonprofit CFO vs bookkeeper or nonprofit controller vs accountant? Here’s a simple guide:
Nonprofit CFO
- Focused on big-picture financial health
- Leads financial planning, budgeting, and fundraising strategy
- Communicates with executive leadership and the board
- Guides the organization through growth and change
Nonprofit controller
- Manages financial operations and reporting
- Ensures compliance with audit and tax regulations
- Oversees bookkeeping and financial systems
- Supports grant and project-based reporting
These roles work best when aligned—either as separate individuals or combined within a scalable finance structure. Whether your nonprofit is just getting started or navigating increased complexity, FirmKey’s network partners can help assess and fulfill your financial leadership needs.
Get expert support for your nonprofit or charity finance team
FirmKey connects nonprofits and charities with experienced finance professionals who understand the unique challenges of mission-driven organizations. Whether you need a part-time CFO to lead strategic planning or a controller to manage grant compliance and donor reporting, our network includes vetted experts with deep experience in nonprofit financial management.
FirmKey’s model is flexible and scalable, making it easy for organizations of any size to access the right support—without committing to full-time hires. Our professionals are available on a fractional, project-based, or outsourced basis, allowing you to engage the expertise you need, when you need it.
Accounting and finance services for nonprofits and charities
FirmKey’s network includes professionals who offer:
Nonprofit and charity bookkeeping
Maintain accurate, audit-ready records with fund-specific tracking and donor restriction compliance. Our accountants follow best practices in nonprofit accounting to support transparency and reporting accuracy.
Grant compliance and reporting
Ensure your financial reports align with grantor requirements, including budget vs. actual tracking and reporting by funding source.
Donor and fund accounting
Track donations and restricted funds using purpose-built systems that meet FASB and IRS guidelines.
Form 990 preparation and filing
Work with experts who specialize in preparing Form 990s for charities and exempt organizations, including public disclosure requirements and IRS compliance.
Audit preparation and support
Prepare for annual audits or A-133/Uniform Guidance audits with reconciliations, internal controls documentation, and auditor liaison support. These professionals can help keep audit costs under control.
Nonprofit budgeting support
Build strategic budgets tailored to your organization’s mission and funding sources, with guidance from nonprofit finance professionals.
Financial planning and projections
Create long-range plans and cash flow forecasts that support sustainable growth, major gift campaigns, or multi-year grant applications.
Board and stakeholder reporting
Produce clear, actionable reports for boards, donors, and funders—aligned with nonprofit best practices.
Fractional CFO services
Get high-level financial leadership to guide fundraising strategies, manage liquidity, and oversee fiscal health.
Outsourced controller services
Improve oversight of financial operations, close processes, and grant tracking with a seasoned nonprofit controller.
ERP and accounting system implementation
Upgrade to software like QuickBooks for Nonprofits, Sage Intacct, or Blackbaud with expert setup and migration support.
Support tailored to your nonprofit’s goals
From small community-based charities to multi-program national nonprofits, FirmKey helps mission-driven organizations build strong financial foundations. Whether you’re navigating your first federal grant, preparing for a nonprofit audit, or need interim finance leadership, FirmKey makes it easy to find the right accounting partner for your organization.
Learn more about how our experts support nonprofit accounting and nonprofit budgeting for organizations at every stage.