226 West Jackson, Suite 528
About One Million Degrees:
THE CHALLENGE: 65% of Illinois public college students attend community college, but only one in five of them will graduate with a degree within three years. One Million Degrees (OMD) changes that.
THE SOLUTION: One Million Degrees is the only organization in Illinois and one of few in the country dedicated to providing comprehensive supports to low-income, highly motivated community college students to help them succeed in school, in work, and in life.
From tutors and coaches to financial assistance and professional development, OMD offers the support that empowers Scholars to transform their lives and those around them for generations. OMD Scholars graduate at twice the state average with the skills and experiences necessary to launch economically mobile careers
Currently in its 11th year of programming, OMD continues to expand the number of Scholars it supports to be a catalyst for change in Chicago. OMD partners with 10 Chicago-area community colleges, serving over 800 Scholars and aiming to grow to 1,000 Scholars next year. To learn more about OMD’s Scholar support model, watch this story of one of our incredible scholars.
Position Summary: Seeking a skilled finance and accounting professional with a passion for numbers and a belief in the transformative power of education and opportunity.
Reporting to the Director of Operations, the Finance Manager’s primary responsibility will be to oversee financial functions for OMD, which has around 30 staff members and a budget of $5M. The Finance Manager will work closely with the Director of Operations and senior leadership to continuously develop and refine OMD’s financial operations and strategy, supporting a positive culture of innovation and impactful use of resources to achieve our mission.
One Million Degrees is a friendly, diverse office with ambitious goals and a relentless drive to achieve them. Join our dynamic team of talented, hard-working individuals who believe that a single degree can change the world.
Specific duties and responsibilities include but are not limited to:
- Keep abreast of FASB updates on non-profit accounting rules and ensure compliance
- Execute all bookkeeping and accounting functions including but not limited to: payables, receivables, payroll, staff benefits, donations, credit card processing, and bank reconciliations in accordance with GAAP
- Ensure expenses and revenue are correctly allocated and recognized
- Maintain organized, accurate, and secure accounting and finance files at all times, performing rigorous quality control on all accounting and personnel records
- Coordinate with departments to ensure that any financial or accounting-related activities within their purview are correctly performed
Financial Planning, Budgeting, and Forecasting
- Work with OMD leadership to develop the annual budget (including cash flow and accrual schedules)
- Actively support sustainable funding planning and generation of new types of revenue sources including new college partner contracts and government funding
- Work closely with Director of Operations and CEO to model financial scenarios and to identify areas for efficiency and investment
Financial Management and Reporting
- Create timely and accurate financial statements and reports for use by for the Director of Operations, CEO, and Board of Directors, leveraging critical thinking skills to verify their accuracy.
- Track, report, and present actual revenue and expense activity against budget quarterly and monthly and project activity for current and future years
- Work with departments to create tracking mechanisms and manage individual budgets
- Present and report out to high level stakeholders as needed
- Project manage the creation and collection of all materials and schedules for the annual audit
- Work with auditors on preparation of IRS 990
- Manage vendor compliance from collecting W9s through issuing 1099s
- Keep organization and employee files, documentation, and practices up-to-date with organization and government standards
- Work closely with internal development team members and external auditors to ensure restricted grants are tracked in Quickbooks, and reported on in compliance with donor restrictions and GAAP
- Prepare budgets for grant applications with quick turnaround
- Work with Director of Operations to review financial aspects of grant applications and partner contracts
- Proactively communicate with and manage OMD’s relationships with key vendors and partners including but not limited to college business offices, insurance providers, facilities and IT services.
- Manage day-to-day communication with employees regarding accounting processes including but not limited to: payroll, expense reports, scholar tuition and stipends, contracts, cash disbursements, cash receipts, and reimbursements.
Insurance and Employee Onboarding/Benefits Administration
- Manage employee benefits from research to creating and managing RFPs to open enrollment
- Onboard new employees, managing communication, background checks, computer/supply set-up, explanation of policies, and partnering with hiring manager to assign orientation content
- Conduct benefits orientation for new employees and serve as knowledge expert on benefits packages
- Own and manage organizational insurance policies (e.g. liability, worker’s compensation etc.) from research and RFPs to contract execution and administration
Qualifications and requirements:
Education: Bachelor’s degree (preferably in Accounting or a Finance-related field); advanced degrees/credentials preferred.
- At least 3 years of professional accounting experience, preferably with significant experience in non-profit accounting
- Advanced proficiency in QuickBooks and Excel
- Experience creating or managing budgets and tracking expense/revenue activity against actuals
- Experience creating statements such as Operating Activities/P&L, Cash Flows, and Balance Sheets
- Knowledge of employee benefits administration
- Knowledge of non-profit fundraising and grant-tracking
Bonus Points for Experience in:
- Restricted grant-tracking
- Audit and compliance
- Financial Modeling
- Project Management – Proven success managing complex projects
- Data Management – Ability to create, organize, analyze, and explain financial data sets (e.g. cash flow schedules, KPIs)
- Committed – Able to commit at least 3 years to the position
- Analytical – Able to identify trends and causation and provide strategic guidance for financial decision making
- Efficiency-minded – Able to identify cost-savings and reduce duplicate efforts
- Compliance-oriented – Keeps relevant rules front of mind and prompts others to do so
- Builder/entrepreneur – Enjoys building new things in a fast-paced environment; evidence of successful outcomes in the face of ambiguity
Compensation and Benefits for Full-time Employees:
- Salary – Commensurate with experience
- Health Benefits – Full health insurance for the employee, including medical, dental, and vision.
- Retirement Benefits – After 90 days, employees are eligible for a Simple IRA plan with matched contributions up to 3% of salary.
- Professional Learning Opportunities – OMD supports employee development in areas relevant to professional and organizational goals and will pay for training such as workshops and conferences as agreed upon by employee and supervisor.
- Paid Time Off – 3 weeks paid vacation plus 9 paid holidays.
Level of Language Proficiency
Bachelor’s degree (preferably in Accounting or a Finance-related field); advanced degrees/credentials preferred.
Minimum Education Required
How To Apply
To apply, submit cover letter and resume to email@example.com. Write “Your Name + OMD Finance Manager” in the subject line of the email.
One Million Degrees is an equal opportunity employer. We encourage applications from all individuals regardless of age, gender, race, ethnicity, religion, or sexual orientation, and evaluate all candidates based on merit.