Request for Proposal compliments of
(Entity Name)
Request for Proposal
Financial Accounting Outsourcing
For the period
(Date) to (Date)
Inquiries and proposals should be directed to:
Name: ___________________________
Title: ____________________________
Entity: ___________________________
Address:__________________________
Phone:__________________________
Please consider sending your completed Request for Proposal (RFP) to Wipfli.
Direct the RFP to Brian Gaumont via e-mail at gfpbd@wipfli.com or via mail at:
Brian Gaumont
Wipfli LLP
2501 West Beltline Hwy., Suite 401
Madison, WI 53713
Request for Proposal (RFP)
Financial Accounting Outsourcing
[XYZ Organization] (the “Organization”) is requesting proposals from Certified Public
Accountant (CPA) firms and individuals with extensive experience in providing
controllership and tax services for not-for-profit charitable organizations. We invite the
submission of a proposal to us by [Date], for consideration. A description of our
organization, the services needed, and other pertinent information follows.
Background of [XYZ Organization]
Provide a summary of the Organization’s background. Include the official name of the
Organization; year of formation; IRS tax exemption code [i.e., 501(c)(3)]; mission,
purpose, vision, future, etc.; what the Organization does; and where it’s going.
Fiscal Information
Provide an approximate amount of the Organization’s total assets, annual operating
budget, types of revenue (i.e., program income, membership fees, federal and state
grants).
Include the Organization’s fiscal year-end.
Provide the type, frequency, and due dates of tax filings (i.e., federal and state Form
990s), state filing requirements, audit requirements, etc.
Provide a brief history of how accounting work has been handled in the past, up to
sending out the RFP. Include information of the existing accounting staff (experience,
number, roles, and responsibilities).
Provide a brief description of the Organization’s internal controls including mitigating
controls and any known control deficiencies.
Explain whether the organization is required to have a financial statement audit and
other audits or monitoring activities and who performs these functions.
Explain who is submitting the RFP and that individual’s responsibilities.
Explain/describe the existing software used for fiscal operations and any related
software currently used to support fiscal operations.
2 Please consider sending your RFP to Wipfli LLP. Direct the RFP to Brian
Gaumont via e-mail at gfpbd@wipfli.com or via mail at Brian Gaumont, Wipfli
LLP, 2501 West Beltline Hwy., Suite 401, Madison, WI 53713
Services to Be Performed
Your proposal is expected to cover the following services:
Provide a detailed list of services you wish to be provided by the CPA. Consider
including the following in the RFP:
1. Financial Reporting: Preparation of management reports, board packets, and tax
filings. Include how frequently these items are to be completed and the
respective due dates.
2. General Ledger: Provide information regarding the number of transactions
processed by the Organization, the number of vendor invoices and other bills
processed, the number of deposits made, etc.
3. Payroll: If the Organization is requesting payroll processing, include information
regarding the number of employees, the frequency of payroll processing, and
whether the related payroll tax returns are to be included in the processing or will
be done in-house.)
4. Accounts Payable (A/P): Administration of the A/P system. Explain who will
coordinate this process with the CPA, how frequently A/P will be processed, and
the individual at the Organization who will be responsible for A/P processing
approval.
5. Cash Management: If the organization requires assistance in this area, consider
including the individual responsible for:
a. Determining cash availability.
b. Recording transactions in the accounting system.
c. Cash account reconciliation.
d. Preparing, recording, and making deposits to the bank account(s).
6. Donations/Contributions Tracking
7. Credit Card Usage and Monitoring
8. Tax Filings: Include the types of returns to be filed and the frequency.
9. Advice: Will the Organization consult with the CPA and request input and advice
on matters relating to the Organization? Will the Organization request a written
management letter containing comments and recommendations with respect to
accounting and administration controls and efficiency?
10. Meetings: Will the Organization require attendance at committee, management,
or board meetings? If so, explain the purpose of their attendance at the meeting
and the frequency and general day and time of the meetings.
11. Request that the CPA identify the point of contact and who the Organization will
be working with during the term of the contract.
3 Please consider sending your RFP to Wipfli LLP. Direct the RFP to Brian
Gaumont via e-mail at gfpbd@wipfli.com or via mail at Brian Gaumont, Wipfli
LLP, 2501 West Beltline Hwy., Suite 401, Madison, WI 53713
Time Frame
Include the date that a written response to the RFP is due and to whom it should be sent
(name and address).
If you would like to meet with the CPA, include the location and date(s) you will be
available for this meeting and request that the CPA provide a time he or she is available
on this/(these) date(s).
Communicate the date the final selection will be made and how the selection will be
communicated.
Indicate the date services are to begin.
Proposal Content
In order to simplify the evaluation process and obtain maximum comparability, the
Organization requires that all responses to this RFP be organized in the manner and
format described below:
A. Executive Summary
Describe your understanding of the scope of the work to be performed and your
firm’s ability to perform the work within the time frame provided.
B. Professional Experience
Describe how and why your firm is different from other firms being considered.
This should include an explanation of the firm's philosophy, size, structure, and
qualifications for serving not-for-profit organizations of a similar size and with
similar operations. Describe your firm's resources devoted to not-for-profit
organizations and provide copies of newsletters or other resource materials
addressing issues relevant to not-for-profit organizations. Discuss the firm's
independence with respect to [XYZ Organization].
C. Team Qualifications
Identify the specific partners, managers, and in-charge staff who will be assigned
to this engagement if you are successful in your bid. Provide their bios specifying
experience relevant to the type of services requested. Also discuss commitments
you make to staff continuity, including your staff turnover experience in the last
three years.
D. Approach
Describe how your firm will approach the proposed services, including the use of
affiliates or staff from other locations, areas that will receive primary emphasis,
and the type of assistance that will be required from the Organization’s staff. Also
discuss the firm's use of technology. Finally, discuss the communication process
used by the firm to discuss issues with management and the Board.
4 Please consider sending your RFP to Wipfli LLP. Direct the RFP to Brian
Gaumont via e-mail at gfpbd@wipfli.com or via mail at Brian Gaumont, Wipfli
LLP, 2501 West Beltline Hwy., Suite 401, Madison, WI 53713
E. Control
Should [XYZ Organization] decide to hire an internal administrator to handle
certain accounting and tax functions at some point in the future, please specify
under what arrangements the accounting system would be available for
ownership or use by the Organization.
F. Software
Please provide information on the accounting software to be used for fiscal
processing. In the event fiscal operations are pulled back in-house, explain how
the transfer of data would occur.
G. Fees
Please provide an estimate of fees, billing rates for the anticipated service team
for the services to be provided, and billing frequency. Given that the time
required in the first year will be more substantial than in subsequent years,
please separate the "startup fees" from the "recurring fees." Please indicate
whether you are willing to make a three-year commitment to a fixed fee schedule.
If so, please state the fees and any caveats.
H. Client References
Include a list of relevant not-for-profit clients that your firm has served within the
past three years and furnish the names and telephone numbers of any
references we may contact.
I. Additional Information
Please provide a copy of your most recent peer review report. Please also
provide any additional information, not specifically requested, but that you feel
would be useful in evaluating your proposal (i.e., newsletters, website).
Evaluation of Proposals
While price is obviously an important factor, the Organization will evaluate proposals on
these additional factors:
• Prior experience
• Qualifications of staff to be assigned to the engagement
• CPA firm's understanding of the work to be performed
• References
• Completeness and timeliness of the proposal
I thank you for your prompt attention to this request. Please contact me at your earliest
convenience to apprise me of your firm's interest in working with us and, if so, the
feasibility of meeting with [name(s)]. In the meantime, please contact me for any
additional information you may need.
5 Please consider sending your RFP to Wipfli LLP. Direct the RFP to Brian
Gaumont via e-mail at gfpbd@wipfli.com or via mail at Brian Gaumont, Wipfli
LLP, 2501 West Beltline Hwy., Suite 401, Madison, WI 53713
THANK YOU for your RFP!
Do you know Wipfli LLP offers more than just financial services? Wipfli provides
products and services specifically for nonprofit organizations. Our experts are ready to
help your organization with:
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Keep your budget and finances balanced.
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TRAINING
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training.
Visit us online at www.wipfli.com/ngp, or call 888.876.4992.
6 Please consider sending your RFP to Wipfli LLP. Direct the RFP to Brian
Gaumont via e-mail at gfpbd@wipfli.com or via mail at Brian Gaumont, Wipfli
LLP, 2501 West Beltline Hwy., Suite 401, Madison, WI 53713