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Chief Financial Officer

Fund for Public Schools
New York, United States
Salary Commensurate with experience
Closing date
Jul 6, 2022

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Position Type
Executive, Administrative, Accounting and Finance
Employment Type
Full Time
The Organization:

The Fund for Public Schools (The Fund) is an independent 501(c)(3) nonprofit that works closely with the New York City Department of Education (DOE) to raise private funding and create partnerships with businesses and philanthropic organizations to support public education in New York City. In the past decade, The Fund has raised more than $557 million from foundations, businesses, and individuals to support the DOE’s priority initiatives and the city’s public schools. Private funding enables the DOE to pilot innovative projects; accelerate promising, outcome-driven initiatives for improving student achievement; and respond quickly and strategically to emerging needs across the school system.

The DOE’s privately supported initiatives span a robust portfolio of education programs, from those that focus on district-level policy and system-wide infrastructure to those that focus on teaching and learning at the classroom level.

Fund staff liaise between DOE leadership and donors so that the DOE can focus on implementing its programs, and donors have a one-stop point of contact to learn about the city’s educational priorities and how private funding can best support them.

The Position:
The Fund for Public Schools is seeking a highly skilled and experienced financial executive who has proven leadership to serve as its Chief Financial Officer (“CFO”).  Reporting to the CEO and the Board of Directors, the CFO will be responsible for all financial management activities and will provide counsel and advice to the CEO, other members of the Management Team, and the Board of Directors on all financial matters. The CFO will oversee and implement a financial strategy for the Fund, which includes financial planning, investment strategy, procurement strategy and implementation, accounting, budgeting, treasury, banking, grant budget review, and tax reporting functions.

The CFO will oversee the Finance Team and will work closely with other Fund staff along with DOE staff. He/she must possess strong accounting knowledge, preferably in the nonprofit sector. H/she will have strong interpersonal skills, exceptional written and oral communication skills, a hands-on management style and the ability to address and solve problems or issues as they arise. A willingness to get involved in the details and a strong desire to work in a fast-paced, collaborative office are critical, as are a strong team work ethic, sound judgment, sense of humor, and sense of diplomacy/politics. 

Specific Responsibilities include: 

  • Corporate Governance
    • Ensure financial governance and oversight best practices for nonprofit organizations are followed
    • Ensure that all IRS regulations governing nonprofits and other laws, rules and regulations are followed
    • Work with the Board Treasurer on financial policy issues, ensuring that Board-adopted financial policies are current, maintained and followed
  • Fiscal Oversight
    • Develop and maintain fiscal procedures and policies; oversee compliance with GAAP and internal control environment
    • Work with Fund leadership team on forecasting and goal setting
    • Prepare and present annual Fund operating budgets
    • Dynamically forecast Fund’s cash flow and revenue projections
    • Forecast, monitor, and communicate regularly with stakeholders on budget challenges and opportunities; coordinate budget modifications.
    • Oversee preparation of financial statements and oversee auditors working through their reviews
    • Oversee payment and procurement policies and practices; review and sign off on all disbursement requests
    • Oversee maintenance of payroll and benefits payments, including for 403(b), health and dental plans
    • Oversee work of direct reports and develop talent to create best-in-class financial operation
    • Assess and improve systems across financial planning, reporting, accounting, payroll, treasury, and the grant management process.
  • Banking and investments
    • Provide oversight and administration for The Fund’s banking relationships
    • Ensure that The Fund’s investment policy is followed and updated as appropriate, and that all accounts are maintained in financially sound institutions and earning the appropriate return on investment
    • Create and maintain cash flow analysis to forecast Fund’s cash needs while maximizing potential earnings
  • Donor Relationships and Grant Administration
  • Work closely with DOE partners and Fund staff to ensure grant expense budgets are developed in alignment with grant goals and adherence to procurement requirements
  • Offer guidance on grant proposal budgets
    • Oversee required financial reporting to donors for grants
    • Oversees compliance with Grant Agreements and Endowments with regard to budgets, spending and investments
    • Experience with Fund EZ
  • Strategic Financial Management
  • Drive long-term financial strategy development: strengthen the organization’s balance sheet and set appropriate financial targets to ensure financial sustainability.
  • Assess and improve systems across financial reporting, accounting, payroll, and purchasing functions.
  • Forecast, monitor, and communicate regularly with stakeholders on budget challenges and opportunities; coordinate budget modifications
  • Participate in The Fund’s strategic planning processes to establish and monitor multi-year, detailed financial models and ensure progress towards goals.
  • Inform and track organizational planning to integrate operations in line with budgets, strategic plans and financial best practices.
  • Legal Administration
    • Liaison to external legal and pro bono resources
    • Review grants agreements
    • Format and originate all 1099 program service contracts for budget, work scope and legal risk compliance. Interface with external service providers for ongoing contractual and disbursement matters
  • Back-office systems
  • Collaborate with Operations team on the specs, selection, and deployment of best-in-class financial software systems

  • Bachelor’s degree required; advanced degree and/or CPA highly preferred
  • 10+ years in progressively responsible financial leadership roles, including management experience in complex non-profit organizations; Experience with non-profit audits and as a Controller is preferred.
  • Experience in grant accounting (including strong knowledge of current GAAP pronouncements for revenue recognition, determination of conditional/unconditional & restricted/unrestricted funding); demonstrable experience in subgrant accounting implementation and evaluation; direct experience managing private foundation grants: utilization, restriction and release rules, grantor reporting.
  • Acumen in maintaining accurate financial records and preparing clear and accurate reports for informational, auditing and operational use
  • Exceptional systems and process orientation and a track record of designing and implementing system improvements.
  • Ability to handle complex challenges with tact and diplomacy and to balance multiple demands on time and attention. Willingness to roll up sleeves and dig into the details to get things done.
  • Ability to analyze and explain complex financial data
  • Ability to work with people from diverse backgrounds
  • Excellent written and oral communication skills
To Apply:

 Benefits and Salary:

  • Competitive salary. Comprehensive and competitive benefit package, including 5% contribution to 403(b) retirement plan. Collaborative and professional work environment with an emphasis on work-life balance.
An Equal Opportunity Employer:

  • The Fund for Public Schools provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, genetic information, gender identity and/or expression, housing status, marital status, employment status, military or veteran status in accordance with applicable federal, state or local laws.

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