Newton Community Development Foundation Seeks a Director of Finance and Administration
In 1968, 24 priests, ministers and rabbis from the Newton Clergy Association and members of Church Women United met and incorporated the Newton Community Development Foundation (NCDF) to pursue ways for Newton to provide affordable housing to meet the needs of the community. More than 50 years later, NCDF has delivered on that vision by providing exceptional housing opportunities at its six properties that collectively provide 241 units of housing as well as managing 55 units of housing owned by partner organizations. In addition, NCDF offers a comprehensive Resident Service Program, addressing the diverse residents’ needs, promoting independence, well-being, and enrichment.
With its administrative offices based on Watertown Street in Newton, MA, NCDF has assets of about $13 million and annual revenues of approximately $7.5 million, inclusive of property rentals. NCDF has been led for approximately 25 years by its Executive Director, Jeanne Strickland, who reports to an 18-member Board of Directors which represents a cross-section of Newton residents and others with multi-faceted interests, resources, expertise, and a deep commitment to the NCDF mission.
Reporting directly to the Executive Director, the Director of Finance and Administration (DFA) will be an integral member of NCDF’s leadership team, along with the Director of Property Management and the Director of Resident Services, who collectively oversees, supports, and empowers a cohesive and highly engaged team of professionals committed to providing exceptional homes, services, and opportunities to its residents. The DFA plays a critical role managing NCDF’s financial functions including accounting, budgeting, financial analysis, and reporting and serves as the primary liaison and partner to the board’s Finance and Asset Management Committee. In addition, the DFA supports information technology and manages the human resource function in consultation with the Executive Director. The DFA, who supervises an accounting assistant, is responsible for ensuring that reporting requirements with funders and subsidizing agencies are met in a timely manner.
Accounting, Budgeting and Fiscal Oversight
- Establish, implement, and regularly update policies and procedures for all finance and accounting functions, ensuring appropriate controls and compliance with generally accepted accounting practices (GAAP) and other applicable state and federal regulations.
- Maintain and reconcile the general ledger in accordance with the NCDF’s cost allocation plan, GAAP, FASB, and the Circular A-133.
- Regularly identify and evaluate opportunities for more efficient, automated, and effective financial operations, internal controls, policies, procedures, recordkeeping, and reporting.
- Establish and oversee a collaborative annual budgeting process in conjunction with the Executive Director and senior staff.
- Serve as primary liaison to the Finance and Asset Management Committee, scheduling meetings, preparing meeting agendas, and fulfilling NCDF’s asset management role by presenting financial analysis including budget to actual reporting, reviewing key performance indicator (KPI) property results, and preparing and updating annual asset management plans for each property.
- Ensure the proper maintenance of the chart of accounts and provide oversight for accounts payable, accounts receivable, bank deposits, bill payments, and general ledger entries.
- Manage all NCDF bank accounts, including opening/closing accounts, managing cash flow and projections, overseeing bank reconciliations, and managing the line of credit.
- Lead the external audit process, serving as the primary interface with the independent. auditors and ensuring accuracy of financial statements, including Form 990.
- Ensure timely reporting as well as payments for local, state, and federal taxes, HUD/MHFA mortgages, as well as escrow and reserve payments.
- Prepare quarterly operating statements and variance reports for each property, deliver tax returns to investors, and prepare all property reimbursement bills.
- Prepare and present comprehensive, clear, and concise financial reports to the Board of Directors on a quarterly basis that provide both fiscal and operational insights.
- Communicate well verbally and in writing, specifically the communication of financial information to non-financial professionals.
Human Resource Management
- Manage and supervise the financial side of the human resource function, including bi-weekly payroll processing, benefit enrollment, retirement plan distributions, and employee earned time accruals.
- Address and resolve specific human resource issues, consulting with the Executive Director, when necessary.
- Ensure that all personnel-related reports, such as state and federal wage reporting are filed accurately and in a timely manner.
- Manage relationships with vendors, providers and third-party administrators of health plans, workers’ compensation insurance, and other insurances.
- Conduct background checks for new staff members and volunteers.
- Hire, train and supervise accounting assistant.
Administrative Leadership and Support
- Work collaboratively with the Executive Director and management team on issues, policies and procedures related to overall management and strategic direction of the organization.
- Develop and maintain supportive, collaborative, and respectful relationships with all staff, displaying a keen interest in and appreciation for NCDF’s mission and the work of others.
- Oversee information technology for the organization, including contracts with outsourced Help Desk and oversight of the purchasing equipment.
- Serve as the organization’s risk management leader by evaluating property and liability insurance needs, procuring appropriate insurance policies, and managing data security.
- Maintain critical organizational files, including Secretary of State annual filings for all entities, grant proposals, grant awards, contracts, and any subsequent reporting.
- Assist the Executive Director with special projects.
Desired Credentials/Profile of the Ideal Candidate
The DFA will be a motivated, self-starter with a strong work ethic and an unwavering commitment to building strong and supportive relationships with colleagues. An energetic, collaborative, flexible, and dependable team player, the DFA will be passionate about NCDF’s mission and committed to providing exceptional customer service to team members and residents. Desired credentials include:
- Bachelor’s Degree in Accounting, Finance, Management, or a related field.
- At least 5 years’ senior financial leadership experience at an organization of comparable size, scope, and financial complexity.
- Knowledge of or exposure to property management would be advantageous.
Skills and Experience
- Proven ability to manage a non-profit organization’s accounting, finance, and administrative functions with the ability to reflect on and recommend improvements to policies, procedures, and processes.
- Experience with budgeting and fund accounting policies, practices, processes, procedures, and reporting.
- Experience with affordable housing asset management fundamentals.
- Experience with external auditors, compliance management, and regulatory oversight.
- Familiarity with property management and the state and federal funding mechanisms associated with affordable housing, including but not limited to, community development block grants, low-income housing tax credits, Section 8 project and tenant-based programs.
- Exceptional written and verbal communication skills with the ability to patiently communicate financial information to diverse audiences who have varying levels of financial acumen.
- Collaborative mindset with a desire to be a proactive member of and leader to a cohesive, engaged, and supportive team of professionals.
- Prior supervisory experience preferred with the ability to motivate, empower, and grow others.
- A passion for NCDF’s mission along with knowledge of affordable housing, community engagement, and/or resident services.
- Experience with oversight of IT as well as mastery of relevant accounting software and systems; comfort with MRI Cornerstone and Quicken would be ideal.
- Strong organizational skills with the ability to multi-task while attending accurately to details.
- Ability to problem solve and manage projects with flexibility and creativity.
Compensation and Benefits
The salary range for this position is $100,000 to $130,000 annually. NCDF also provides a generous package of benefits, including health insurance (90% and 75% employee contribution for individual and family coverage, respectively), dental insurance (85% and 75% employee contribution for individual and family coverage, respectively), long-term disability, $25,000 life insurance policy, and 403(b) matching contributions ranging from 2% to 4% of salary dependent upon years of employment. Also, significant paid time off is offered, including twelve holidays, two personal days, ten vacation days (increasing to twenty over time), and ten sick days.