We are excited to introduce you to Rinku Modi, DVIRC’s Incoming Chief Financial Officer. Rinku brings over 20 years of experience in nonprofit accounting and finance, both in the US and internationally. She will be a vital part of DVIRC’s leadership team, contributing to strategic planning and the day-to-day management of the organization. We sat down with Rinku to learn more about her background, her passion for nonprofits, and how she plans to make a positive impact as DVIRC’s CFO.
Can you tell us a bit about your background and experience?
I was born and raised in India and later moved to Canada. I now have 20 years of extensive non-profit accounting and finance experience and have worked in the US and internationally. In past roles as a financial professional, I have successfully managed complex financial operations, provided strategic financial guidance, and implemented effective budgeting and forecasting processes. I also hold a master’s in accounting.
Of all the work I’ve done, I’ve always had a preference for nonprofit organizations. I did try a small gig in the for-profit sector but quickly realized it wasn’t for me. I find great satisfaction in working with accounting and finance in the nonprofit world.
What is it specifically about nonprofit work that you enjoy?
Nonprofit work is incredibly fulfilling because it has a mission. It makes me feel like I’m contributing to a mission, and my accounting and finance skills can be used to support that mission. We are often working behind the scenes, and that suits me perfectly because I’m not cut out for frontline work. This way, I can support those who are doing the frontline service work.
Why did you choose DVIRC as your career destination?
DVIRC is unique in that it blends nonprofit principles with a revenue stream from client revenue. It’s like using the for-profit model within a nonprofit setting, which I found intriguing. We work with grants from federal and state governments, as well as client revenue. This was something new to me, and I wanted to explore and learn how we can use our resources and mission to support small businesses and manufacturers.
How does your role as CFO help ensure wise spending and support the growth of manufacturers in the region?
In my role, it’s essential that we act as gatekeepers and watchdogs for all the funds coming into and leaving the organization. We must ensure that we follow the guidelines of the grants, match their reporting requirements, and educate staff on the specific requirements of each funding source. Our accounting standards must be impeccable for a clean audit. DVIRC also undergoes single audits when we receive a significant amount of federal grant funding. Our role is to ensure that the financial resources are being used wisely and efficiently.
Rinku will be taking over for DVIRC’s long-time CFO, Veronica “Ronnie” Saboor, in December. Rinku will be responsible for all aspects of DVIRC’s accounting operations, oversees all contract compliance, as well as quarterly and annual reports required by the National Institute of Standard and Technology (NIST) and Pennsylvania Department of Community and Economic Development (DCED). She is instrumental in maintaining proper accounting procedures for auditing and reporting. We look forward to her contributions and leadership as she steps into this crucial role.