Student Dream
6 - 9 weeks
Can be done remotely
Brooklyn, New York
Accounting & Finance

Posted May 19
Member since 2022-05-18

This project is currently inactive, and cannot accept applications at this time.

SEE OTHER POSTS BY THIS ORGANIZATION

Project Overview

Project overview:

An Accounting Compliance Analysis project assesses and evaluates the organization’s accounting systems, procedures, filings and overall compliance to ensure the organization is in good standing with IRS, Federal, and State regulations.

Project deliverables. The skilled volunteer will complete some or all of the following:

This includes:

1. Guiding the bookkeeper in the new chart of accounts, classes and the format of the financial statements
3. Review the accountant work, including entries, bank reconciliations and the monthly financial statements
4. Assist in the preparation of the annual budget and mid-year revised forecast projections
5. Coordinate the annual review ( audit) with the CPA
6. Create new systems and procedures.
7. Bi-weekly calls with the ED and the Accountant until the books are up today.
8. Review payroll.
9. Follow with the consultants in the State tax registration ( important)
10. Make sure the organization is in compliance with IRS, Federal and State regulations.
11. Review the annual review and CHAR500 forms
12. Prepare with Management the cash flow projections.
This project is essential to Student Dream in that it allows our small team to focus on program delivery activities while ensuring Student Dream remains compliant to Federal and state regulations. Our bookkeeper has updated our books and completed all local state tax registrations.

The project will impact our organization in the following ways:

Strengthened internal capacity to collect and monitor the right financial data
Better understanding of actual budget costs and other financial information necessary for making strategic and operating decisions.
More successful grants proposals and improved reports through better articulated costs
Better understand the costs associated with running the organization

Skills necessary for this project:
Accounting: The production of financial records about an organization to show the economic resources under the control of management.
Auditing: A systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise for a stated purpose
Budgeting: Estimating the revenue and expenses of an organization over a specified future period of time, and the planned allocation of available funds to each department within that organization for that period.

Once complete, we will use our new systems to remain compliant with IRS, Federal, and state regulations.

More...

Nonprofit Overview

Student Dream trains black and brown youth to build wealth.

Student Dream is a financial education charity that trains black and brown youth to build wealth.

We are the 21st century vision of Dr. King’s beloved community where freedom rings "from every village and every hamlet, from every state and every city." A community where "we will be able to speed up that day when all of God’s children, black men and white men, Jews and Gentiles, Protestants and Catholics, will be able to join hands and sing in the words of the old Negro spiritual: “Free at last! Free at last! thank God Almighty, we are free at last!”

In 2019, Black families' median wealth was $24,100 (Fed Reserve). That's not the mountaintop that Dr. King, the muse of Student Dream, envisioned for the Negro in America. WE are changing this.

Our Money Matters, Wealth Matters, Startup, Music Money, and Free Bankerz program creates economic gardens in desolate communities.

I create + oversee strategy, fundraising, programs, strategic projects and teams that have trained 1300+ students from 71 colleges and 50 High Schools to develop and execute a vision for money and life.

Under my bold and servant leadership we've won six figure grants from The Brooklyn Community Foundation, Carnegie Hall, Community Foundation of New Jersey, New York Department of Youth and Community Development, Redeemer Presbyterian Church, and Techstars foundation. Additionally, we've secured partnerships with The Obama Administration, The City of Newark and New York, CUNY, Howard, Google, Medgar Evers College, Comp Sci HS, Uncommon Schools, Bronx Borough Hall and My Brothers Keeper.

Our work has been featured in Blavity, Black Enterprise and BET.

*While our aim and theory of change is to intentionally close economic gaps in historically oppressed communities (black, latino, indigenous), we joyfully serve and collaborate with students, volunteers, staff, mentors and partners from all ethnic backgrounds. Our mission is built on MLK Junior's vision of a beloved community.

Skills

Cpa
Financial analysis
Accounting