Director of Finance

Organization Overview

For over 50 years, the Greater Washington Community Foundation has ignited the power of philanthropy to respond to critical community needs and build a thriving region where every person prospers. The Community Foundation is a trusted advisor and navigator helping thousands of individuals, families, businesses, and government partners to identify impactful nonprofits and support the greater good in the communities we call home. As the region’s largest local funder, we have invested $1.7 billion to build equitable, just, and thriving communities across DC, Montgomery County, Northern Virginia, and Prince George’s County. To learn more, visit thecommunityfoundation.org.

Position Summary

Reporting directly to the Chief Financial Officer, the Director of Finance plays a critical leadership role within the Foundation’s Finance Department. This position provides strategic and operational support to the CFO while collaborating closely with the Controller. Acting as a bridge between senior management and operational teams, the Director translates high-level strategies and goals into actionable plans that drive business performance.

The Director is responsible for overseeing day-to-day accounting operations, ensuring that financial transactions are accurately recorded, timely, and compliant with Generally Accepted Accounting Principles (GAAP). In addition, the Director maintains and reviews internal controls to enhance operational efficiency and ensure compliance with policies and regulations. The Staff Accountant will directly report to the Finance Director.

Key areas of responsibility include financial reporting, investment and cash operations, payroll, and accounts payable. The Director also ensures adherence to regulatory standards, supports the Foundation’s fiduciary duties, and works to improve systems, processes, and team capabilities. Through these efforts, the Director helps steward the Foundation’s resources with integrity and transparency, in alignment with its mission and values.

In addition to the duties described in this position description, every role at The Community Foundation is expected to contribute to the overall success of the organization and its goals. This may mean that team members will be asked to take on other tasks that may not be listed here. Examples may include working on a project or specific task outside of your standard area of responsibility, participation on an organization-wide task force or special initiative or being asked to support a colleague when needed. Any additional tasks will be determined by the manager of this role in coordination with the leadership team.

Primary Responsibilities

Financial Management and Reporting

• Collaborate with the Controller on the quarterly fund statement process, monthly closing, and the preparation and coordination of the annual audits, including both the regular financial audit and the federal Single Audit, ensuring timely and accurate completion.
• Support the Controller in the preparation and timely filing of all required annual tax returns, including Form 990 and related schedules.
• Assist with the preparation, review, and presentation of quarterly financial reports and board financial packets.
• Support the CFO and Controller with materials and analysis for Audit and Finance Committee meetings.
• Assist the CFO in the development, tracking, and monitoring of the annual operating budget, including forecasts and variance analysis.
• Prepare and/or review monthly and quarterly balance sheet and profit & loss reconciliations to ensure accuracy and compliance with GAAP and internal controls.
• Partner with the Controller and Finance team in the implementation of new accounting software and ensures the continued integrity and optimization of financial systems.
• Prepare or review specialized monthly and quarterly financial reporting schedules for specific funds or donor-advised funds, as needed.
• Participate in meetings with donors, fundholders, and external stakeholders to provide financial insight and support.
• Lead or contribute to cross-departmental financial projects and other assignments as directed by the CFO.
• Ensure compliance with GAAP, UPMIFA, IRS regulations, and internal financial policies and procedures.
• Provide financial analysis and modeling to support strategic planning and decision-making.

Cash and Investment Management

• Support the CFO in monitoring the outsourced Chief Investment Officer (OCIO) to ensure investment accounts align with the Foundation’s Investment Policy Statement (IPS).
• Coordinate with investment operations staff, OCIO, and advisors on account activity including reconciliations, cash flow operations, portfolio rebalancing, administration, monitoring, and reporting.
• Manage the documentation and execution of investment related transactions, such as account openings, closings, and modifications, in collaboration with authorized officers and external partners.
• Complete and file IRS Form 8282 for dispositions of hard-to-value assets, as required.
• Assist with preparation and distribution of Investment Committee meeting packets and provide ongoing operational and analytical support.
• Develop training resources and provide internal education on investment principles and financial reporting, in coordination with the CFO.
• Monitor short-term cash needs and liquidity to ensure alignment with the Foundation’s operating and grantmaking priorities.
• Maintain bank tracking and ensure all bank account transactions are recorded accurately and in a timely manner to support cash flow management and reconcile cash positions on a regular basis.

Payroll Processing

• Ensure accurate and timely payroll processing in partnership with Human Resources and external payroll service providers.
• Verify correct wage calculations, benefit deductions, and proper taxation in accordance with federal, state, and local laws.
• Collaborate with HR to ensure accuracy and security of employee data in payroll systems.
• Respond to payroll-related inquiries and provide timely resolution of issues.
• Prepare and distribute payroll reports for internal use and management review.
• Review and post payroll and benefits journal entries bi-weekly to ensure proper accounting treatment.
• Ensure all monthly/quarterly payroll and benefit reconciliations are completed.
• Assist with year-end payroll reporting, including W-2s and tax filings.
• Stay current on payroll best practices, laws, and technology to support continuous improvement.

AP Processing

• Oversee the end-to-end AP function, ensuring timely, accurate, and compliant processing of vendor invoices and employee reimbursements.
• Review and approve AP workflows to maintain proper internal controls and efficient processing.
• Ensure accurate general ledger coding and documentation for all disbursements.
• Coordinate with Finance team to support accurate month-end and year-end close processes.
• Maintain strong vendor relationships and ensure payments are issued in accordance with terms.
• Evaluate and recommend AP systems and technologies to increase automation and efficiency.
• Lead implementation and maintenance of tools that support invoice processing, electronic payments, and expense management.
• Ensure 1099 forms are filed for applicable vendors and contractors in compliance with IRS regulations.

Leadership and Team Collaboration

• Support the Controller and CFO in managing day-to-day finance team operations, ensuring efficient execution of financial tasks and adherence to internal controls.
• Provide guidance to junior finance staff, assisting with technical accounting questions and offering mentorship to foster professional development.
• Collaborate with cross-functional teams (Operations, Development, CI, etc.) to streamline financial processes and ensure alignment with organizational goals.

Desired Skills and Experience

Education

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required.
• CPA designation; required.
• Public accounting experience; strongly preferred.

Work Experience

• 5-7 years of relevant accounting experience, with a focus in the following areas:
• Significant experience in accounting for investments.
• Strong background in audit preparation, including experience with A-133 audits and other nonprofit audit processes.
• Experience in Federal and State tax filings is required.
• Hands-on experience with Accounts Payable (AP) and Payroll processing.
• Proven ability to handle high-volume transactional reconciliations with precision and attention to detail.
• Community Foundation experience; preferred.
• Fund accounting experience; preferred.

Skills

• Exceptional organizational skills and a high level of accuracy and attention to detail in all financial reporting and processes.
• Ability to produce high-quality work is precise and presented in a professional manner.
• Strong proficiency in financial software systems and advanced Excel skills.

Capabilities

• Strong judgment and critical thinking skills to analyze and solve complex financial issues.
• Work effectively as a team member and demonstrates the ability to coordinate the work of others when needed.
• Cultivate a collaborative and supportive environment and maintains a positive working relationship across departments.
• Excellent customer-service orientation, with strong interpersonal and communication skills.
• Ability to anticipate needs and take proactive steps to ensure that tasks and deadlines are met with little or no direction.
• Capable of working under pressure, handling multiple priorities, and meeting deadlines consistently.

Conditions

• Must exercise the highest level of discretion and confidentiality with sensitive financial information.
• Ability to perform the necessary work required for the role with diligence and attention to detail.
• Must pass a background check as part of the hiring process.

Salary and Benefits

The Community Foundation values transparency and equity. The salary range for this position is $110,400 - $120,100, commensurate with qualifications and experience.

We offer benefits and programs that inspire a culture of engagement and productivity, such as: a hybrid work schedule and Summer Friday schedule; employee events, professional development stipend, up to fourteen paid holidays, Wellness holidays, and Paid Time Off (PTO). The benefits package includes company-paid medical, vision, and dental insurance for employees; flexible spending accounts; retirement plan with employer contribution; and more.

Application

Please submit a resume and a cover letter detailing your interest to the Greater Washington Community Foundation’s online Career Center. 

The Washington Metro region is an incredibly diverse area, and The Greater Washington Community Foundation is devoted to diversity and equity. The Community Foundation is an Equal Opportunity Employer that provides employment opportunities for all qualified applicants without regard to race, color, religion, gender identity and/or expression, sexual orientation, age, mental or sensory differing abilities, protected veteran status, sex, national origin, or any other characteristic protected by applicable law.