Leadership role
VP of Finance
A senior finance executive who runs accounting, budgeting and reporting, often one level below the CFO.
Reporting and scope
Reports to the CFO / Head of Finance or, where no CFO exists, to the Executive Director / CEO. Authority covers accounting, budgeting and financial reporting, with strategy often shared with a CFO above.
Core responsibilities
- Manages accounting, budgeting and financial reporting
- Oversees the annual audit and preparation of the Form 990
- Maintains internal controls
- Tracks restricted funds and grant spending
- Prepares financial reports for the finance committee
- Supervises the controller and finance staff
How it differs
The CFO / Head of Finance holds final accountability to the board; where the VP of Finance is the top finance officer, compare to CFO based on scope. The Controller / Comptroller and Director of Finance run accounting operations below this level.
By organization size
In mid-size nonprofits the VP of Finance is often the top finance person. In large systems it is a layer below the CFO covering one area, such as financial planning or a business unit.
Filings from the last five years mapped to this role commonly report titles such as: VP of Finance; VP Finance; Vice President of Finance; VP, Finance; Vice President, Finance; VP Finance & Administration