Manna, Inc. seeks an adaptive mission-oriented and entrepreneurial leader who is dedicated to affordable housing and wealth creation and can build on Manna’s outstanding reputation and track record as an affordable housing developer and advocate in Washington, DC.
Manna, Inc. was founded in 1982 as a faith-based organization that develops quality affordable housing in Washington, DC. Since its inception, Manna has created, preserved or rehabilitated 2,000 rental or for sale homes. Manna, a certified member of NeighborWorks America® with an exemplary rating, is also a HUD certified housing counseling organization and Community Housing Development Organization (CHDO).
Manna has made the creation of affordable housing – particularly homeownership, neighborhood stabilization and asset building for low-income residents, a priority. Manna homeowners have built up approximately $200 million in equity. In response to the changing dynamics in the Washington, DC housing market, Manna has expanded into affordable rental housing development. Manna has a robust development pipeline of more than 500 rental units and 50 for sale homes.
Manna has multiple lines of business and program areas:
- Affordable homeownership and rental housing development.
- Construction management and general contracting services through a wholly owned for-profit, Providence Construction.
- Educating first-time homebuyers through Manna’s highly regarded Homebuyers Club and HUD certified housing counseling.
- Serving as a vocal and effective advocate for low income people in Washington, DC.
- Providing property management services to affordable homeowner associations.
- Sale and marketing of available housing for other nonprofit and for-profit entities.
Manna’s multiple lines of business are handled through several organizational affiliates:
- Manna Ventures is a for-profit corporation organized to serve as the holding company for Providence Construction, which is a for-profit that provides construction management and general contracting.
- Manna-Whitelawis the managing member of the for-profit Historic Whitelaw LLC. Manna Community Development Corporation (CDC) is a nonprofit membership organization that focuses on low-income families in the Shaw neighborhood and is now the limited partner of The Whitelaw Hotel Limited Partnership.
In 2018, Mannasold its former office building and used the $4.2 million in proceeds to create a reserve fund to repay Manna investors and a revolving construction fund. This infusion of capital, plus a robust pipeline of projects, had dramatically improved Manna’s financial health. Manna is currently assessing how the crisis created by the economic impact of Coronavirus is impacting the pipeline.
Manna has a $2.3 million budget and Providence Construction has a $3.8 million budget for 2020. Manna’s revenue comes from developer fees, philanthropic support, and government grants and contracts. Manna currently has an in-house finance team plus a part-time CFO who is a contractual employee. Mannaplans to hire a full-time, in-house CFO in 2020.
Manna has a staff of 30 people. Many staff are long-tenured, having been with the organization for 20 years or longer.
Manna is governed by a 13-member board of directors that meets monthly. The Board includes representatives with experience in real estate, nonprofit management, finance, accounting, affordable housing policy and advocacy, community activism, and marketing. Mannameets CHDO requirements and NeighborWorks America® requirements for the Board, with five board members representing low-income residents.
Manna has been fortunate to benefit from the wisdom and leadership of Reverend Jim Dickerson, the founding President and CEO. He has decided that it is time for him to step away from the President and CEO role, while continuing to support the organization and its future.
For more information, please visit https://www.Mannadc.org
Manna is looking for a visionary, entrepreneurial and tactical leader with a passion for Manna’s mission and the people served. The President and CEO will be an outward-facing leader who can capitalize on and leverage Manna’s outstanding reputation as an affordable housing advocate and developer, as well as work with the senior leadership team and Board to streamline and modernize internal policies and procedures. Adapting Manna’s existing business lines to current realities and potentially identifying new ones to ensure MANNA’s long-term financial sustainability will be a top priority for the President and CEO.
Manna’s next CEO will:
- Be the external face of the organization, maintaining Manna’s stellar reputation as a highly visible and effective advocate and developer
- Lead, with senior staff, the organization’s real estate development efforts, including the ability to create affordable housing opportunities and evaluate the feasibility and organizational risk of specific real estate projects.
- Provide strategic management and fiscal leadership that supports current programs and services, and maintains or increases earned revenue;
- Maintain or develop relationships with for-profit and other partners to ensure a steady pipeline of projects that align with Manna’s mission and bring revenue into the organization;
- Raise funding from foundations, government, corporations and individuals in partnership with Manna’s development team;
- Develop sustainable business plans—and the revenue to support them -- for each of Manna’s lines of business;
- Ensure that the organizational culture is one that is diverse, nurtures and develops talents, creates and supports a common mission across lines of business, and is highly communicative and collaborative.
Experience and Attributes:
Candidates will combine a passion for mission with a strong track record of leading a complex organization, be a strong fundraiser and deal maker, and have experience in real estate development. Other desired experience includes:
- Strong fiscal management skills, and the ability to understand complex real estate transactions and organizational finances across multiple lines of business;
- An understanding of the importance of affordable housing and a deep commitment to the people who live in Manna’s buildings;
- A humble and collaborative leadership style that inspires internal and external stakeholders;
- A track record of managing and nurturing a team, especially one that includes many long-tenured staff
- An ability to build coalitions and advance an affordable housing advocacy agenda that is responsive to the current economic crisis and maintains Manna’s voice as a leading local affordable housing advocate;
- An approach to change management that can marry an appreciation for Manna’s history, mission, and reputation with implementation of new strategies to ensure long term financial sustainability – including Manna’s existing and future pipeline of projects;
- A demonstrated track record of raising significant funding from a variety of sources including government, foundations, corporations and individuals.
To apply, upload a resume, cover letter, and salary requirements by clicking here*. For other inquiries, contact Adrienne O’Rourke at Adrienne.ORourke@marcumllp.com. Resume reviews begin immediately.
Consistent with equal employment opportunities and diversity and inclusion objectives, Manna seeks to attract, develop, and retain productive, engaged employees to create a diverse, high-performing, sustainable organization and a workforce dedicated to accomplishing Manna’s mission.
About Raffa – Marcum’s Nonprofit & Social Sector Group
On behalf of Manna, Raffa – Marcum’s Nonprofit & Social Sector Group is working with the Board of Directors to advance the search. Founded in 1984 and recently merged with Marcum, Raffa is, and always has been, a mission-driven professional services firm seeking to do more for nonprofits and socially conscious companies like Manna. Learn more about our work at http://marcumllp.com/industries/nonprofit-social-sector.