Nonprofit Finance: How the FaaS Model Transformed NYCSBUS in Just 30 Days

NYC School Bus Umbrella Services (NYCSBUS) needed support during its transition from a private contractor to a nonprofit organization.

NYCSBUS CEO Matt Berlin and his four-person team needed to work quickly to establish robust financial capabilities while ensuring continued service for students—many with special needs—and maintaining payments to essential vendors.

Here’s how Berlin partnered with BTQ Financial, a division of Consero Global, to achieve rapid nonprofit financial transformation with the Finance as a Service (FaaS) model.

BTQ-NYCSBUS: Nonprofit Transformation

Full Technology & Staffing Integration (30 Days)

• Full Technology & Staffing Integration
• Complete implementation of financial systems
• Full CFO responsibility transition
• Seamless transition of $180M fiscal department

Private Contractor to Nonprofit Transition

• Seamless service continuation for 9,000+ students
• Clean audits and transparent financial reporting
• Lean operation with minimal in-house finance staff

About NYCSBUS

• Scale of Operations: Nearly 800 school bus routes serving over 9,000 students across the NYC Metro Area
• Workforce Management: Approximately 1,800 employees
• Fiscal Department: $180 Million

Solution: Finance as a Service (FaaS)

BTQ implemented a comprehensive Finance as a Service (FaaS) model specifically designed for nonprofit organizations like NYCSBUS. 

The solution included:

Integrated Systems Implementation

• General ledger/Accounts receivable system
• Expense management system
• Bill approval workflows
• Comprehensive reporting capabilities

Technical Integration

• Connected with two auto repair systems
• Built integrations between various subsystems
• Organized months of historical financial data
• Created a unified financial ecosystem

Results: A 30-Day Transformation

Within just 30 days, BTQ’s finance and accounting team had:

• Assumed full control of NYCSBUS’ $180 million fiscal department
• Taken on CFO responsibilities for the new nonprofit
• Created transparent financial reporting that fostered trust and credibility
• Established systems that allowed NYCSBUS to focus on its mission rather than financial administration

Long-Term Impact

• Clean audits: Consistently passing Comptroller’s committee reviews
• Credibility with stakeholders: City auditors noted they had “never seen a startup organization perform so well so early on”
• Operational efficiency: BTQ now runs NYCSBUS’s entire financial system with the nonprofit only needing to employ a Budget Director and assistant
• Innovation enablement: NYCSBUS has since begun electrifying its bus fleet and integrating machine learning technology

Why the FaaS Model Works for Nonprofits

Consero and BTQ combine specialized expertise with a deep understanding of nonprofit organizations.

Here’s what NYCSBUS’ CEO had to say about the top benefits of working with BTQ:

• Mission-focused support: “Having a seasoned nonprofit expert guiding us every step of the way was incredibly helpful.”
• Responsive customization: “When we say ‘We’d like to look at fixed vs. variable or cost per day’… that shows up in the report.”
• Personal investment: “Most SaaS companies don’t care about you. BTQ gives a damn about us.”

With BTQ providing comprehensive support, including handling all AR/AP, financial dashboards, and documentation, Berlin and his team were able to continue delivering critical services while providing immaculate transparency.

The Nonprofit Advantage

BTQ was founded with a vision that mission-driven organizations can better maintain and expand their impact when finance and accounting functions are provided “better, faster, and cost-effectively” by a specialized partner.

For nonprofits considering similar transitions or looking to optimize their financial operations, NYCSBUS’s experience demonstrates how the right financial partner can:

1. Enable focus on core mission and services
2. Establish credibility with stakeholders and regulators
3. Create financial transparency that builds trust
4. Support innovation and organizational growth
5. Provide expert guidance throughout complex transitions

As NYCSBUS continues to set new standards for public services in New York City, BTQ’s FaaS model remains the financial foundation that makes it all possible.

If you’d like to learn about how we can help transform your nonprofit’s financial operations, request a consultation.