Shannon Sargent, CPA, MSA

Shannon is a seasoned member of AAFCPAs’ Outsourced Accounting & Fractional CFO (OAFC) practice, where she provides outsourced, cloud-based finance and accounting support to nonprofit organizations and private foundations.

Shannon helps new clients improve their financial processes and update infrastructure and systems to better adapt to dynamic conditions and meet organizational objectives. She advises on set up, modernization, and accounting systems integration while working with clients to enhance business process performance with an eye toward efficiency, effectiveness, and internal controls.

As an integral member of the client’s finance function, Shannon supports staff and ensures transactional accounting processes are executed with precision. She oversees key aspects, including AR/AP, check disbursements, and general ledger reconciliation. Shannon also administers processing and documentation for grant tracking, revenue recognition, and departmental/divisional reporting along with annual budget development and cash flow monitoring. Beyond this, she reviews and approves monthly and annual financial reports and benchmarking metrics for executive management and boards of directors to support strategic decision making.

Prior to joining AAFCPAs, Shannon gained two years of experience as an auditor, serving nonprofits with U.S. GAAP, Uniform Guidance, and UFR compliance requirements followed by four years as outsourced accounting manager, where she worked with clients in real estate, non-profit, and hospitality. Now as a controller, this unique perspective allows her to advise clients on implementing and strengthening internal controls over financial reporting and improving operational processes for efficiencies. She also has extensive nonprofit tax expertise, and her advice helps clients navigate complex issues including the optimization of the Form 990’s presentation to donors and the public, unrelated business income tax (UBIT), state filing requirements, related-party transactions, and executive compensation disclosures.

Shannon holds a master’s degree in accounting from Nichols College and a Bachelor of Business Administration from Worcester State University. In her free time, she enjoys traveling, hiking, and escaping into a good book.

Education

• Nichols College – Master of Science, Accounting
• Worcester State University – Bachelor of Business Administration

Service

• American Society Foundation of Suicide Prevention – Event Volunteer
• IVHQ Fiji – Volunteer Kindergarten Teacher

Professional and Civic Associations

• American Institute of Certified Public Accountants
• Massachusetts Society of Certified Public Accountants