The Maryland League of Conservation Voters (Maryland LCV) is seeking proposals for professional services to provide bookkeeping and accounting for four related entities: The Maryland League of Conservation Voters, Inc. , the Maryland League of Conservation Voters Education Fund, Inc. (MDLCV-EF), the Maryland LCV Political Action Committee (MDLCVPAC), and the Maryland Conservation Voters Action Fund (MDCVAF) with aggregate annual transaction volume of approximately $2.5 million.
About the Organizations
- Maryland LCV was founded in 1979 and incorporated in 1998 as a nonprofit organization under 501(c)(4) of the IRS Code to conduct social welfare activities, which include political organizing, advocacy and lobbying to advance priority environmental issues. Maryland LCV undergoes an independent financial review annually, submits a form 990 to the IRS, and an annual report to the state of Maryland.
- The MDLCV-EF, a sibling organization to Maryland LCV, was founded in 2000 and incorporated in 2005 under section 501(c)(3) of the IRS Code as a public charity. Its purpose is to conduct non-partisan public outreach and education about priority environmental issues. MDLCV-EF undergoes an independent financial audit annually and submits a form 990 to the IRS, and an annual report to the state of Maryland.
- The Maryland LCV Political Action Committee (MDLCVPAC), was established in 2010 under IRS Code section 527, to directly engage in political activity in support of candidates or ballot issues, and is obligated to report all activity to the Maryland State Board of Elections and therefore is not required to submit a form 990 to the IRS.
- The Maryland Conservation Voters Action Fund (SuperPAC), established in 2018, is also a “section 527” political action committee that may receive unlimited political donations and may participate in independent expenditure political activity in elections. It is also required to report all activity to the Maryland State Board of Elections and therefore is not required to submit a form 990 to the IRS.
- The organizations are run by volunteer boards of directors and staffed by a team of 12 full-time employees.
The Maryland LCV group of organizations have experienced significant and consistent growth in transaction volume over the previous 4 years. At the same time, the complexity of required reporting to federal and state entities and to private funders with regard to restricted funds has increased. This search is a recognition of the need to continue to invest in the organization’s capacity to manage and steward our resources in a timely, transparent, and proactive manner by engaging outside expertise in non-profit accounting.
Scope of Services
The selected firm will be responsible for providing the following services:
- Continue to apply the accrual method of accounting to maintain all accounts, consistent with Generally Accepted Accounting Principles (GAAPs) for nonprofit organizations
- Review and make recommendations to update the charts of accounts for the four organizations
- Accounts receivable: receive and record revenue consistent with IRS Guidelines.
- Accounts payable: enter invoices and prepare payments to vendors for approvals, process payments; prepare annual form 1099 filings for vendors
- Maintain costs by program and/or programs or grant designation
- Enter payroll invoices and relevant grant allocation information into Quickbooks (payroll is provided by a third-party)
- Maintain deposit and vendor files by fiscal year
- Enter, prepare for approval, and pay authorized staff reimbursements monthly
- Amortize insurance policies
- Reconcile all bank accounts monthly
- Reconcile all balance sheet accounts monthly
- Reconcile all income and expenses for fiscal sponsor accounts monthly
- Reconcile all intercompany transactions in receivables and payables
- Monitor release of restricted funds
- Assist management with the development of a comprehensive accounting manual
- Follow the established Cost Allocation Plan as written in the accounting manual
- Identify areas for management review regarding process and practice to improve efficiency, maintain internal controls, and ensure compliance
- Work with existing business systems which include Quickbooks Online, Bonterra (formerly EveryAction), Google Business Suite and advise management on process improvements or suggested changes in business system purveyors.
- Prepare monthly financial statements: Statement of Activity, Statement of Financial Position, Budget to actual summary and detail, and other reports as necessary meeting organizational deadlines
- Prepare capital campaign tracking reports as necessary
- Present financials to management on a monthly basis and to Board of Directors on a quarterly basis
- Participate in annual financial audits and reviews conducted by independent, external auditors and funding agencies, including document preparation and onsite support
- Prepare year-end reports, schedules and other documents requested by auditor
- Provide audit process support as needed; research and resolve issues as they arise
- Provide reports and data as requested for the completion of annual tax returns
- Prepare periodic reports as required by Executive Team, Board and funders (e.g., donors and private philanthropic organizations)
- Work with Development Department in assisting with Grant Reporting
- Work with Operations Department to ensure accurate reporting of lobbying and campaign expenses to the State of Maryland
- Maintain fixed asset inventory and depreciation
- Maintain schedule of accrued leave liability
- Maintain schedule of functional expenses in accordance with the cost allocation plan for programmatic, general & administrative, and fundraising expenses.
Term of Contract
The initial term of the contract shall be for a period of one year, with four additional annual extensions available up to a total of five years.
This contract will begin January 1, 2024 with relevant onboarding work taking place during the 4th quarter of 2023.
Follow the guidelines below to submit your proposal:
- Section 1: Proposer Information: Company name, primary contact, email, phone, etc.
- Section 2: Proposed description of services and approach to bookkeeping and accounting services, particularly as it relates to GAAP Guidelines for nonprofits, and accounting for restricted funding
- Section 3: Firm’s qualifications: Summary of previous similar work for nonprofit organizations; proficiency with accounting software including Quickbooks; experience with assigning expenses to both programs and funders while identifying those transactions that need to be reported to government agencies for compliance (e.g., lobbying costs or functional expenses); experience working with multiple entities within one organization
- Section 4: Description of client portal or on-line interfaces with provider
- Section 5: Attachments:
- Cost Proposal: Budget and narrative. Please distinguish between one-time onboarding costs and projected monthly or annual cost for ongoing services.
- Resumes: Include professional resumes for key personnel working on this project.
- Professional References: Provide at least 3 references for which proposer has performed similar work; include the current contact information for each
- Other: Proposers may include a brief sample of their work, or other materials to demonstrate their capabilities to complete the work, not more than 3 additional pages
Proposals will be reviewed on a rolling basis and will be evaluated for responsiveness to the organizations’ goals, demonstrated experience in similar work, responsiveness to the stated timeline, and cost. The deadline for proposal submission is November 22, 2023.
Questions and completed proposals may be submitted via email to Shivaugn Ahern, Director of Operations at email@example.com.