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Nonprofit CFO (Chief Financial Officer)
Location: Washington, D.C. (part time remote, but ability to come into office when necessary)
Job Type: Part-time (est. 60 avg. hours/month)
Reports to: President & CEO
The Nonprofit CFO (Chief Financial Officer) is responsible for managing the financial operations of the organization, ensuring the organization’s financial health and sustainability. The person in this role will oversee all accounting, financial reporting, budgeting, forecasting, financial analysis, cash and investment management, and compliance requirements. The Nonprofit CFO will work closely with the President & CEO and Board of Directors to develop and implement financial strategies that support the organization’s mission and goals.
Lutheran Services in America outsources many of its accounting activities and has an in-house Sr. Director of Business Operations (SDBO) who performs day-to-day financial operational activities. The specific CFO control-related activities include the following:
Financial Management and Operations
- Provide leadership, direction and management to the SDBO who is responsible for basic financial operations and who serves as the routine liaison with financial vendors including accounting, payroll, IT/Communications, and facilities.
- Manage vendor relationships negotiate contracts for all finance, HR, IT, and facilities related functions. Identify opportunities for increased efficiency or value.
- Ensure strong internal controls around Lutheran Services in America financial management and administrative activities.
- Review, provide guidance, and ensure compliance with all finance, HR and IT related policies and procedures.
- Support of the annual audit including meeting with the external auditors (July through November) ensuring they have all required information. Conduct critical reviews of the draft audit report and IRS Form 990 to insurance compliance with requirements and regulations.
Financial Reporting, Budgeting and Forecasting
- Provide guidance and ensure accuracy of the monthly financial results, financial forecasts and budgets prepared by the SDBO.
- Oversee preparation of the annual budget.
- Provide strategic recommendations to the President & CEO and members of the executive management team as business evolves and questions arise concerning opportunities and financial risk assessment.
- Advise on long-term business and financial planning.
Board Relations and Reporting
- Support discussions and decision making by the Board of Directors with accurate, timely, and relevant financial counsel.
- Provide primary support for the Audit Committee.
- Prepare written financial narrative reports to Board of Directors.
- Present financial results at the board meetings in April, August and January.
- Prepare and present budget at the January board meeting for upcoming fiscal year.
- Work with the insurance broker to update the insurance policies, as needed, to ensure adequate coverage. Provide recommendations to the President & CEO. Provide summary report of insurance coverage to the Board of Directors.
- Ensure compliance with board approved investment policy and prepare a summary of investment results for the Board of Directors.
- Bachelor’s degree in accounting, finance, or related field; MBA strongly preferred; CPA or CGMA helpful.
- At least 10 years serving as a CFO, at least 5 years in a nonprofit organization.
- Experience in entrepreneurial organization bringing structure and establishing process as the business matures and grows.
- Financial acumen and proven experience identifying and achieving opportunities to increase revenue, decrease costs or increase operational efficiencies.
- Experience with Federal and Foundation grants is necessary.
- Experience with best practices within the nonprofit sector, including restricted gifts and endowments.
- Expertise in successful financial management, including experience developing and implementing financial strategies, managing budgets, and overseeing financial reporting and compliance.
- Excellent analytical, problem-solving, and decision-making skills
- Strong communication and interpersonal skills, with the ability to communicate financial information to non-financial stakeholders
- Passion for the mission and work of the organization
About Lutheran Services in America
Lutheran Services in America is a national network of 300 Lutheran health and human services organizations that reaches one in 50 people in America each year. Recognized by The Chronicle of Philanthropy and Forbes as one of the nation’s top nonprofit organizations, the Lutheran Services in America network operates with more than $23 billion in combined annual revenue. Headquartered in Washington, D.C., Lutheran Services in America leads innovative collaborations with partners in philanthropy, academia, healthcare and others to address the most critical challenges in our communities and empower people to lead their best lives. Learn more at lutheranservices.org.