Bookkeeping and Financial Services for Worker Cooperatives and Worker Cooperative Nonprofit Incubator in Dayton and Cincinnati

Website Co-op Dayton and Co-op Cincy


Co-op Dayton and Co-op Cincy are working toward building a just, local economy that works for all through building an interconnected network of worker-owned cooperatives in Dayton and Cincinnati. We are coming together to ask for a bookkeeping firm to support both of our networks.

We are seeking proposals from qualified firms to provide bookkeeping and financial services for a nonprofit organization that incubates the worker cooperatives and  receives various types of grants and donations and at least 3 worker cooperatives (though we anticipate more in the upcoming years). The nonprofit has roughly a million dollar annual budget, $4 million in assets, and an average of 60 monthly transactions. The worker cooperatives are in start-up phases and will vary on transactions and size. Each cooperative will pay for their own bookkeeping services and can have separate agreements with the bookkeeping service. We are using this RFP process to set a rate for all cooperatives and nonprofits in our networks. The selected firm will be responsible for managing the financial affairs of the cooperatives and the nonprofit organization, providing accurate financial reporting, and creating dashboards to help manage financial performance.

Scope of Work: The selected firm will be responsible for the following:

Bookkeeping and Accounting Services
Maintain accurate and up-to-date financial records for each cooperative and the nonprofit organization (in Quickbooks).
Record all financial transactions, including accounts payable, accounts receivable, payroll, and other financial transactions.
Reconcile bank and credit card accounts on a monthly basis.
Onboard new employees to payroll and collect 1099’s and W-2s.
Prepare monthly financial statements for each cooperative and the nonprofit organization.
Prepare year-end financial statements and coordinate with a CPA firm for tax preparation.
Set up the chart of accounts and other preliminary bookkeeping services for new cooperatives.
Give cooperative network access to view each cooperative’s Quickbooks.
Pay independent contractors.
For Co-ops: Track patronage and member equity for cooperatives.
Financial Reporting
Provide regular financial reporting to the cooperatives and the nonprofit organization.
Create custom financial reports for each cooperative and the nonprofit organization as needed.
Prepare monthly, quarterly, and annual financial reports for each cooperative and the nonprofit organization.
Provide financial analysis and insight to the cooperatives and the nonprofit organization to help them make informed financial decisions.
Participate in monthly finance meetings and board meetings.
Other Financial Services
For nonprofit: Assist with grant management for the nonprofit organization, including tracking grant expenditures and preparing financial reports for grantors.
Provide financial advice and guidance to the cooperatives and the nonprofit organization.
Train individuals within various cooperatives on some of the basics of using Quickbooks, including but not limited to running financial reports, recording financial transactions, reconciling accounts when there is the desire and capacity by the co-op to do so.
Optional services (please provide the cost break-down separately)
Send customers bills and pay invoices.
Provide financial literacy education to our employees.
Assist with budgeting and forecasting for each cooperative and the nonprofit organization.
Run payroll.
Design dashboards that provide real-time insights into the financial health of each cooperative and the nonprofit organization.
Selection Criteria: The selection of the firm will be based on the following criteria:

Experience and qualifications of the firm in providing bookkeeping and financial services to cooperatives and nonprofit organizations.
Understanding of the unique financial needs of worker cooperatives and nonprofit organizations.
Ability to provide customized financial reporting and dashboards.
Ability to work with multiple entities and manage their financial affairs.
Competitive pricing.
Can demonstrate that the firm provides healthy jobs to their employees.
Consideration will be given to firms:
Working as a worker cooperative or actively interested in becoming one.
Employing people in Ohio or would be open to hiring in Ohio if there is a need to add another role to the team to support this work.
Firms owned by Black, Indigenous, Working class, and others most impacted by economic oppression.
Proposal Requirements: The proposal should include the following:

Company Profile: A brief introduction to your firm, including experience and qualifications.
Proposed Scope of Work: A detailed description of the services that your firm will provide.
Approach: A description of your approach to providing bookkeeping and financial services, including how you will create customized financial reporting and dashboards.
Team: The qualifications and experience of the team that will be assigned to this project.
Pricing: A detailed pricing proposal that includes all fees associated with providing bookkeeping and financial services.
References: Contact information for at least two references from cooperatives or nonprofit organizations that your firm has provided bookkeeping and financial services.
Proposal Submission: Proposals should be submitted via email to no later than May 15th, 2023.

Evaluation Process: All proposals will be reviewed by a selection committee, and the committee may request additional information or clarification from the proposers. The selection committee will evaluate the proposals based on the selection criteria outlined above and will select the firm that best meets the needs of the cooperatives and the nonprofit organization.

Questions: Any questions about this RFP should be directed to Daniella Kodjo no later than May 10th, 2023.

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