Nonprofit CFO job description

A Nonprofit CFO is the chief financial officer responsible for overseeing all financial operations, ensuring fiscal responsibility, and maintaining the organization's financial health. This role is critical for driving strategic financial planning and ensuring long-term sustainability, enabling the nonprofit to fulfill its mission effectively.

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What is a Nonprofit CFO?

A Nonprofit CFO is a senior executive who manages the financial strategy and operations of a nonprofit organization. Unlike for-profit CFOs, they focus on maximizing impact rather than profits, ensuring funds are used efficiently to advance the organization's mission. They oversee budgeting, financial reporting, compliance, and risk management, while also engaging with donors, board members, and stakeholders to secure funding and maintain transparency. Their work supports the organization's ability to serve its community and achieve its social goals.

What does a Nonprofit CFO do?

A Nonprofit CFO performs a wide range of financial and strategic duties. They develop and manage budgets, ensuring resources align with the organization's goals. They oversee accounting processes, financial statements, and audits to maintain accuracy and compliance with regulations. Additionally, they analyze financial data to guide decision-making, identify cost-saving opportunities, and mitigate risks. They also play a key role in fundraising by creating financial reports for donors, managing grants, and building relationships with supporters. Ultimately, they ensure the nonprofit remains financially stable and capable of achieving its mission.

Job Overview

As a Nonprofit CFO, you will serve as the financial steward of our organization, overseeing all fiscal and fiduciary responsibilities. You will develop and implement financial strategies that align with our mission-driven goals while ensuring long-term sustainability and compliance with nonprofit accounting standards. This role requires a unique blend of financial expertise, strategic vision, and deep commitment to social impact.

Nonprofit CFO responsibilities include:

1. Develop and maintain annual operating budgets and long-term financial forecasts 2. Oversee all accounting functions including AP, AR, payroll, and general ledger 3. Prepare and present financial reports to Board of Directors and committees 4. Manage cash flow, investments, and banking relationships 5. Ensure compliance with GAAP, IRS 990 filings, and state charitable regulations 6. Implement and maintain internal financial controls and policies 7. Lead financial aspects of grant management and restricted fund accounting 8. Collaborate with program directors on budget development and fiscal management 9. Oversee annual audit process and liaison with external auditors 10. Develop financial strategies to support organizational growth and sustainability
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Must-Have Requirements

1. Bachelor's degree in Accounting, Finance, or related field 2. CPA certification (active status) 3. 10+ years progressive financial leadership experience 4. Minimum 5 years CFO or senior finance role in nonprofit sector 5. Expertise in nonprofit accounting standards and fund accounting 6. Proven experience with IRS Form 990 preparation and compliance 7. Strong knowledge of GAAP for nonprofit organizations 8. Experience managing annual audits and working with external auditors 9. Demonstrated budget development and financial forecasting skills 10. Excellent communication and board presentation abilities

Preferred Qualifications

1. Master's degree in Business Administration or related field 2. Experience with nonprofit organizations exceeding $10M annual budget 3. Familiarity with nonprofit fundraising and development cycles 4. Knowledge of federal grant compliance requirements (OMB Circulars) 5. Experience with financial software systems specific to nonprofits 6. Background in organizations with multiple funding sources and restricted funds 7. Previous work with community-based or social service organizations 8. Understanding of endowment management and investment strategies 9. Experience with financial turnaround or organizational restructuring 10. Knowledge of healthcare or education nonprofit financial operations

Bonus Skills

1. CFA or other advanced financial certifications 2. Experience with international nonprofit operations 3. Background in implementing new financial systems or ERP solutions 4. Expertise in risk management and insurance programs 5. Knowledge of social impact investing and program-related investments 6. Experience with merger and acquisition due diligence 7. Familiarity with donor-advised funds and planned giving vehicles 8. Proficiency in data analytics and financial modeling software 9. Multilingual capabilities for diverse community engagement 10. Published articles or speaking engagements on nonprofit finance topics

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