Chief Financial Officer

Manna is seeking an energetic and accomplished Chief Financial Officer (CFO) to work with Manna’s new President & CEO to advance Manna’s work as a strong and high performing, financially strong organization and support implementation of operational vision and strategy. 

BACKGROUND

Manna, Inc. is a 39-year-old leading faith-based affordable housing nonprofit organization located in Washington D.C. and operating in the District of Columbia and Maryland. Since its founding in 1982, Manna has developed over 1,200 affordable units in Washington DC.

Manna’s portfolio includes both affordable ownership and rental units with a growing rental housing pipeline. Manna has helped more than 1,000 families in Washington D.C. become successful homeowners. Manna is a certified member of NeighborWorks America® with an exemplary rating and is also a HUD certified housing counseling organization and Community Housing Development Organization (CHDO).

Manna has multiple lines of business and program areas that are handled through several organizational affiliates:

• Affordable homeownership and rental housing development.
• Construction management and general contracting services through a wholly owned for-profit, Providence Construction.
• Educating first-time homebuyers through Manna’s highly regarded Homebuyers Club and HUD certified housing counseling.
• Serving as a vocal and effective advocate for low-income people in Washington, DC.
• Providing training and education to affordable homeowner and condominium associations.
• Sales and marketing of affordable homeownership housing.

Manna and Providence Construction have a combined annual budget of $4 million for FY2021. Manna’s revenue comes from developer fees, philanthropic support, and government grants and contracts. Manna currently has an in-house finance team plus an interim CFO who is a contractual employee.

Manna has a staff of 28 people. Many staff are long-tenured, having been with the organization for 20 years or longer. Manna also has a fund development staff responsible for sourcing, soliciting, and securing philanthropic and corporate support. Manna is governed by a 13-member Board of Directors that meets monthly.

POSITION OVERVIEW

As a member of the executive management team, the CFO reports to the CEO and partners with the team and Board to develop and implement strategies. The CFO also leads and encourages shared accountability for financial management and reporting, consistency across lines of business, financial planning, and budgeting. The CFO defines the processes and implements the infrastructure/systems and teams to ensure strong internal capacity and controls. The CFO will serve as primary liaison to the Finance Committee and Audit Committees of the Board of Directors, leading the financial reporting to each. The CFO will work with the CEO to optimize the financial health of the organization.

The CFO will lead the supervision, management and reporting of the accounting team, consisting of a Controller, two Senior Accountants, and a Staff Accountant.

CFO responsibilities include to:

• Serve as a financial thought partner to the CEO and provide leadership in strategic financial and operational opportunities, challenges, and planning.
• Safeguard stewardship of Manna’s short- and long-term resources and assets.
• Work with the CEO to proactively engage the leadership team and Board of Directors around issues, trends, and changes in Manna’s revenue and expenditures, business plan, and operations.
• Oversee all audit and tax return activities and staff the Audit Committee.
• Ensure compliance while implementing nonprofit best practices and adhering with legal and regulatory considerations.
• Serve as staff liaison to the Board of Directors and Finance Committees, preparing and presenting monthly financial reporting.
• Prepare cash flow reports, forecasts, and analyses to support budgeting for the activities of Manna’s departments.
• Maintain a system of effective internal controls with appropriate levels of delegation, supervision, and timely and accurate recording of transactions and distribution of financial reports.
• Assess and improve Manna’s automation of accounting related activities and reporting.
• Supervise and/or prepare work papers and supporting documentation for the annual tax filings of Manna and its affiliates and subsidiaries, presenting final corporate returns to the Finance and Audit Committees.
• Supervise and manage oversight of all operational banking relationships and corporate borrowing arrangements.
• Assess and oversee Manna’s and Providence’s 3^rd party payroll processing vendor to ensure accurate and timely recordation and periodic reporting for purposes of maintaining insurance, the retirement plan, and FSA related activities.
• Review annual operating budgets and cash flow forecasts for operating real estate entities for their impacts on Manna operations and cash flow.
• Review and support the evaluation and management of development and asset management related activities.
• Review and support the evaluation and management of construction related activities.
• Provide some oversight and input in asset management functions and responsibilities.

SKILLS AND EXPERIENCE

Manna’s new CFO shall be a financial leader with the highest level of integrity and a growth- and mission-oriented mindset. The successful candidate will meet the following criteria:

• A minimum of 10 years in affordable housing or related real estate finance strongly preferred.
• Demonstrated and unwavering commitment to diversity and inclusion.
• Strong leadership and experience leading a small team of finance professionals.
• Nonprofit audit and tax experience.
• Budgeting and cost allocation experience for a complex organization with several lines of business.
• Strong communication skills with experience preparing and presenting financial reports to boards and/or committees.
• Experience with Yardi, Manna’s financial management system, preferred but not required.
• Relationships with investors, lenders, syndicators, grantors, and government partners a plus.
• Demonstrated experience with grants accounting.
• CPA certification preferred but not required.

Salary is commensurate with experience.