First Step Initiative
4940 West 77th Street
The Treasurer is a member of the Board of Directors and an officer of the organization. In addition to participation on the board, the Treasurer’s main function is to oversee the financial operations of the organization. Primary duties consist of reviewing the monthly financial statements, preparing the annual budget, reviewing bank statements, initiating wires and approving checks, and assisting with the preparation of the annual Form 990. The Treasurer is the main contact with the bank and the official board liaison with the outside accounting firm. The Treasurer works closely with the Operations Manager who prepares the monthly financial statements and performs bookkeeping functions.
· Work experience with basic financial accounting
· Ability to review financial statements for appropriateness and accuracy of journal entries
· Familiarity with non-profit organizational structure and the Form 990
· Ability to prepare a basic budget using an excel spreadsheet
· General business work experience
· Passion for the work we do supporting women in the Democratic Republic of the Congo
The Treasurer has responsibilities in the following areas:
The Treasurer is the main contact with the bank and is a signer on the checking account along with the Board Chair. The Treasurer will perform the following duties:
· Review the monthly bank statements as part of the “checks and balances” procedure. The bank statements are sent directly to the Treasurer by the bank.
· Sign and date the first page of the bank statement and send a copy of the signed bank statement to the Operations Manager to be scanned.
· Initiate all bank wires to the DRC (Congo) for payment of employee salaries and grants.
· Sign all monthly expense checks which have been prepared by the Operations Manager (the Chair also has signing authority).
· The Treasurer prepares the bank forms if there are any changes to the signing authority.
· Review of the quarterly bank statements from the Congo.
· The Treasurer takes the lead on any ad hoc, financially complex matters that arise in our Congo operations.
Monthly financial statements
· Review the monthly financial statements, which have been prepared by the Operations Manager. A review consists of reviewing the accounting entries for appropriateness and accuracy and verifying that the financial statements reconcile to the previous month. The Treasurer will work with the Operations Manager to revise the financial statements if needed.
· The Treasurer advises whether statements should be forwarded to the accountant for further review. Consultation with the accounting firm may be necessary to determine the appropriate accounting entries.
· Review financials at quarterly board meetings with the rest of the Board of Directors.
The Treasurer is the official board contact with the accounting firm. Annually, the “Short Form - 990-EZ - Return of Organization Exempt From Income Tax” is prepared by the outside accountant. The Treasurer will:
· Review the Form 990 prepared by the CPA and submit any required changes to the CPA. (The form 990 has been prepared as early as May but if necessary, an extension to October can be requested.)
· Prepare the Statement of Functional Expenses for the Form 990 based on the December year-to-date income statement.
· Sign the form 990 and send to the Chair for her/his signature.
· Maintain a copy of the Form 990