Finance Director (CFO)

    Homestead Community Land Trust
    Published
    January 18, 2023
    Location
    412 MAYNARD AVE S, SUITE 201, Seattle, King County

    Description

    Homestead Community Land Trust puts the financial and social benefits of affordable homeownership within reach of people who are priced out of our high-cost housing market, or who may have been shut out of ownership by discrimination. Homestead builds new homes and rehabs existing homes, raising funds to price these homes affordably for first-time homebuyers who make less than 80% of area median income as defined by HUD. The community land trust model makes and keeps homes affordable permanently through agreements with our buyers. We have an active pipeline of 270 homes to build over the next six years. We are leaders in combining climate equity with housing equity, setting a standard for environmental sustainability with our homes.

    The Finance Director (CFO) provides finance management, staff support and strategic thought-partnership with the Executive Director, with emphasis on leadership and oversight of a non-profit affordable housing developer. The successful candidate will be a hands-on and participative team member providing expertise in finance, accounting, reporting, business planning and budgeting and cash flow management. This is an opportunity for a finance leader to maximize and strengthen the output and impact of organization that advances a proven solution to housing affordability in our community. The successful candidate will balance sound risk management and control environment with an entrepreneurial perspective to support the growth of the organization toward a goal of producing 75 new homes per year.

    The successful candidate will:

    • Partner with the Executive Director in budget development, effective financial management and continuous improvement of financial systems and operations
    • Support the Executive Director and Board of Delegates, including its Treasurer and Finance Committee, with timely financial reports, analysis and recommendations
    • Maintain and enhance financial and accounting control environment
    • In partnership with the Real Estate Development Director, implement comprehensive financial reporting and analysis of housing development projects from inception through final home sales, including all revenue and expense items inclusive of pre-development work, Homestead staff time, and costs of capital
    • Compare actual project and administration financial results to budgets and forecasts, and providing transparency and clarity to organization leadership, oversight committees, and Board of Delegates
    • Collaborate with Executive Director on operational and strategic issues by providing recommendations based on financial analysis, cost identification and allocation, revenue and expense analysis
    • Support the financial accountability of all staff with timely financial reports and recommendations
    • Implement systems and procedures that capture performance data to be used in business plans and projections, systems improvements
    • Supervise and provide mentorship to the Business/Office Manager, who is responsible for bookkeeping, IT, facilities, payroll, HR and benefits administration.

    RESPONSIBILITIES AND TASKS
    Finance Planning & Analysis
    o Produce timely and accurate monthly financial statements and cash flow reports
    o Participate in the annual budget process including contributions to:
    o Budget and cash flow scenarios
    o Recommending optimized operational expenses
    o Updating spreadsheets for salary/benefits costs
    o Review department budget submissions
    o Oversee the reconciliation of QuickBooks (QB) with Salesforce(SF), spreadsheets or other tracking systems
    o Prepare for and attend monthly Board Finance Committee meetings, enhancing and updating related reports as needed
    o Manage real estate project budgets, draws and project cash flow, and loan payoff (with the Director of Real Estate)
    o Support grant reporting as needed
    o Report out to partners or attend partner meetings as appropriate
    o Maintain documentation of all key finance and accounting procedures

    General Ledger and Accounting Operations
    o Prepare for and manage annual audits
    o Work with public accounting firm to support 990 tax return preparation
    o Supervise the Business Manager in the following tasks:

    Bookkeeping
    Employee time and expense management
    Annual compliance reports

    o Prepare and Review monthly/quarterly/annual JEs:
    o Restricted grants tracked in Excel
    o Loan interest tracked in Excel
    o Prepaid expenses tracked in Excel
    o Future pledge NPV and bad debt tracked in Excel
    o Depreciation (nothing currently being depreciated)
    o Intercompany JEs for land transfer, subsidy reconcile, gain on sale, due to/from
    o Reimbursable grant tracking in excel, allocating to payroll or expenses as appropriate in QB (Currently none)

    Financial Management
    o Create and update budgets for housing construction projects (Jacobsen Jarvis Method for CLTs)
    o Establish and maintain housing construction project reports (Jacobson Jarvis Method)
    o Negotiate construction financing for housing developments in partnership with Real Estate Development Director
    o Secure credit resources for pre-development as needed by housing pipeline
    o Manage lender and social impact investor relationships to support housing development and homeownership stewardship initiatives and grow Homestead’s capacity

    QUALIFICATIONS
    o Bachelor’s degree in accounting, finance, or business administration
    o CPA preferred
    o 8+ years of management experience
    o Non-profit and/or real estate development industry experience preferred
    o Proficient with QuickBooks or similar accounting system
    o Excellent written, verbal, organizational, and time management skills

    This position reports directly to the Executive Director and works with the Board Treasurer.

    Although there is flexibility in this position to work from home, the employee is expected to maintain consistent office hours onsite to facilitate staff support and communication.

    EMPLOYMENT POLICY
    As an equal opportunity employer, Homestead Community Land Trust does not discriminate on the basis of age, race, creed, gender, gender identity, marital status, veteran’s status, national origin, disability or sexual orientation.

    SALARY AND BENEFITS
    The starting salary for this position is $120,000 to $130,000 DOE. Compensation may also include health insurance. Benefits include paid sick leave and vacation, professional development, ORCA (transit) card, 403b savings plan.

    APPLICATION REQUIREMENTS

    To apply for the position please provide to jobs@homesteadclt.org:
    • Current resume or curriculum vitae
    • Professional certifications
    • Cover letter that includes a detailed description of your skills and experience to carry out the responsibilities described above and a statement of why this organization’s mission fits your career path

    Homestead will accept applications until there is a sufficient pool of qualified applicants.

    Samantha Fields is the operations manager for Shelterforce.