Chief Financial Officer

Opportunity

The Community Foundation of New Jersey (CFNJ) seeks an experienced, service-oriented leader who will closely guide our accounting, financial strategy and investment activities as well as provide oversight of administration and human resources. The Community Foundation’s CFO is our principal financial officer and will report to the President. They serve as a member of the executive team.

Organization Profile

Founded in 1979, Community Foundation is a community of donors (fund holders) who establish component charitable funds to continuously improve the quality of life in New Jersey largely through charitable grants. From creative projects that tackle critical societal or public policy issues to legacy and donor advised funds, scholarships, and corporate philanthropy, the Community Foundation manages a wide variety of giving vehicles. The Community Foundation also supports the operations of an affiliate, the Community Foundation of South Jersey (CFSJ) and a wide variety of initiatives including the New Jersey Health Initiatives, an initiative of the Robert Wood Johnson Foundation.  The Community Foundation has 1,200 charitable funds and $900 million in assets.  In 2023, the Community Foundation made over $70 million in charitable grants to our communities and raised over $130 million in new charitable assets. The Community Foundation’s headquarters are in Morristown, New Jersey.

Position Summary

The Community Foundation is committed to equity, diversity, and inclusion, and seeks to build a diverse workforce to promote effective work in partnership with all communities and population groups in New Jersey. For each of its positions, the Community Foundation seeks to hire team members with relevant experience, skills and aptitude; a commitment to the power of philanthropy and the common good; strong curiosity and the desire to continue learning; a collegial work style; a sense of humor; and the dedication to work hard toward the Community Foundation’s mission of promoting philanthropy and improving the quality of life in New Jersey.

Reporting to the President, the CFO will provide executive leadership, vision, and oversight for the operating, financial, and administrative activities of the consolidated organization. The CFO provides leadership to the Finance and Accounting Department team in support of the organization’s operations and goals and supports the team and finance operations of an affiliate organization, the Community Foundation of South Jersey. The CFO acts as the primary human resources officer for the Community Foundation.  The CFO is responsible for overseeing and reconciling the entire organization’s portfolio of investments including implementing the investment strategies recommended by fund holders and/ or our investment committee.

Executive Leadership

• Support CFNJ’s and CFSJ’s Mission, Vision, and Values as outlined in the strategic plan.

• Build systems to improve CFNJ’s impact and efficiency.

• Evaluate all aspects of the Community Foundation’s function and proactively bring professional guidance and recommendations to the leadership.

Financial Management

• Oversee the day-to-day operations of the Financial Department and all financial transactions across the areas of gift acceptance and valuation, grantmaking, budget, billing, general ledger, accounts receivable, accounts payable and payroll processing.

• Prepare timely and accurate financial statements; develop and maintain an effective system of internal financial controls.

• Prepare and present monthly financial statements to the President as well as affiliates.

• Develop and implement the organization’s annual budget, including all program budgets and prepare reports to account for the fiscal performance of all grants, contracted programs and the various programs and services.

• Provide fiscal analyses to internal and external stakeholders as required.

• Provide support to various members of the CFNJ Board in monitoring investments of the organization and coordinating other administrative activities related to these investments.

• On a quarterly basis, prepare and present financial statements, analysis and reports to the Board, Finance and Audit Committee, and Investment Committee.

• Support strategies to lend and service loans from component funds.

Asset Development and Donor Development

• Work with the Chief Philanthropy Officer and CFSJ leadership to develop and maintain financial reporting to fund holders.

• Help educate the professional advisor community on the various Community Foundation charitable vehicles and benefits.

• Work closely with the President, Chief Philanthropy Officer, and CFSJ leadership to transact complex gifts by ensuring accurate valuation, and ensure compliance with gift acceptance policies.

Risk Management

• Supervise and regulate all internal financial controls to safeguard the funds and financial assets of the organization.

• Oversee and manage the annual audit and tax process and all grant/contract audits. • Supervise all administrative and financial reporting in connection with the organization’s insurance plans including, but not limited to: Health, Worker’s Compensation, D&O, Property & Casualty, General Liability, etc.

• Comply with GAAP standards and all local, state and federal government reporting requirements and tax filings including the IRS Form 990.

• Oversee the preparation and submittal of required financial reports to state and federal government agencies, private foundations and other supporters and funders of the organization’s programs and services.

• Develop and implement a risk assessment plan with input from the President, the Board and the senior leadership team which includes the appropriate metrics to monitor any risks to the organization and its fiscal health.

Technology

• Serve as the primary administrator for Foundant’s Community Suite, the organization’s integrated accounting, development, grantmaking, and CRM system.

• Direct accounting system support, including responsibility for all database integration and ensure integrity between the accounting system and supporting databases.

Investment and Client Management

• Oversee and implement investment recommendation strategies suggested by fund holders (wealth advisor partnerships) and as directed by the CFNJ Investment Committee.

• Oversee monthly reconciliations of investments.

• Monitor investment manager performance, ensure compliance with CFNJ guidelines and report to the President, Investment Committee, and the Board of Trustees.

• Seek, develop, and implement impact investment opportunities and programs to engage donors through place-based equity investments.

Human Resources Management

• Oversee payroll administration on a bi-weekly basis.

• Oversee financial and operations aspects of CFNJ’s retirement plan including compliance analysis and reporting.

• Perform onboarding of new employees and terminations, as needed, including ensuring required forms, compliance notices and documentation are completed and processed.

• In connection with the third party payroll HR consultant, ensure compliance with federal and state human resource rules.

Team Management

• Provide leadership, supervision and development of the Finance and Accounting Department staff.

• Work collaboratively with members of the senior leadership team, managers, and CFSJ leadership to provide financial and budgetary support and guidance related to their respective program and service areas.

Strategic Leadership

• Provide financial leadership to guide and shape the organization’s financial strategy.

• Help define key financial objectives and metrics for the consolidated organization.

• Ensure the consolidated organization remains in strong fiscal health.

• Provide essential financial data to the President and CFSJ leadership with respect to financial trends and significant changes in operations impacting the financial status of the organization.

• Lead on strategic plan goals including exploration of community economic development finance capacity, expansion of wealth manager partnerships, and strategies for a national brand identity.

Qualifications & Experience

• A Bachelor’s or Master's Degree in business, accounting or related field or equivalent education and experience.

• A minimum of seven years senior-level experience demonstrating senior level leadership and management practice, especially within corporate finance and/or accounting departments; philanthropy or non-profit experience a plus.

• A track record of fiscal management of foundation/grant funding.

• A track record of working with component funds or other complex organizational structures.

• Knowledge of GAAP standards and transactional accounting.

• History of managing sophisticated, multi-faceted general ledger technology.

• Knowledge of computer systems; experience with network applications and their environments and integrated accounting systems; excellent working knowledge of Windows, MS Excel, MS Word, Internet; and experience working in a network environment with an integrated database.

Other Attributes/Characteristics

• Independent, self-starter with the ability to plan and prioritize work, build systems and project schedules.

• "Hands-on” financial manager with keen attention to detail with an analytical ability to ensure the accuracy of financial information and data.

• Ability to present financial data in a clear and organized manner to senior management and the Board of Trustees.

• An individual of high integrity and ethics.

• Strong commitment and passion for the organization’s mission.

• Excellent communication and presentation skills.

• The capacity to model and instill an internal service orientation that inspires an experienced, professional staff, emphasizing collaborative teamwork and nurturing an evolving, healthy culture.

To Apply

Compensation will be competitive and commensurate with the successful candidate’s experience; excellent benefits. CFNJ is an Equal Opportunity Employer. We are committed to building a diverse team and encourage applications from candidates from diverse backgrounds and experiences. All applications are held in strict confidence.

Applications will be reviewed on a rolling basis and the application period remains open until the position is filled. To be considered, the Community Foundation encourages interested candidates to submit their applications promptly.