What are the responsibilities and job description for the Carl M. Freeman Foundation Director of Finance position at Joshua M. Freeman Foundation - Freeman Arts...?
About the Organization
The Carl M. Freeman Foundation is a private family foundation established in 1960 by Carl M. Freeman to give grants, guidance, and assistance to nonprofit organizations throughout Delaware and DMV.
Purpose of the Position
The Director of Finance manages all organization finances to promote the long-term financial sustainability of the private family foundation and compliance with IRS requirements. Responsibilities include oversight of investment portfolio, data analysis, financial reporting, budgets and forecasts, and cash management. In addition, the Director of Finance oversees all insurance requirements and property leases. This full-time position will require schedule flexibility to attend required meetings with investment managers and the Board of Trustees.
Primary Duties and Responsibilities
The Carl M. Freeman Foundation is a private family foundation established in 1960 by Carl M. Freeman to give grants, guidance, and assistance to nonprofit organizations throughout Delaware and DMV.
Purpose of the Position
The Director of Finance manages all organization finances to promote the long-term financial sustainability of the private family foundation and compliance with IRS requirements. Responsibilities include oversight of investment portfolio, data analysis, financial reporting, budgets and forecasts, and cash management. In addition, the Director of Finance oversees all insurance requirements and property leases. This full-time position will require schedule flexibility to attend required meetings with investment managers and the Board of Trustees.
Primary Duties and Responsibilities
- Manages accounting processes (Current Assets, A/P, A/R, inter-co, bank, and G/L including account reconciliations, fixed assets management, etc.) in an accurate and timely manner in accordance with generally accepted accounting standards and internal control policies and procedures.
- Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly, quarterly and annual financial statements.
- Review monthly reconciliation and performance analysis of investment portfolio and participate in oversight meetings with investment managers.
- Supervise tasks of staff accountant.
- Oversee management and reporting of privately held investments.
- Oversee management and reporting of Sea Colony Ground Rents
- Coordinate required reporting needs with Mirador LLC consultant for portfolio performance reporting.
- Prepare ongoing cash flow analysis.
- Make electronic payments, ACH and Wires.
- Approve invoices to be posted, monitor payment postings and review entries for accuracy
- Prepare weekly and quarterly reports of charitable donations made by the organization. Monitor compliance with grant specifications.
- Create and update financial sustainability models to forecast the long-term sustainability of the foundation and monitor the annual 5% required distribution.
- Prepare, present and refine annual operating and capital budgets and periodic project budgets and forecasts.
- Manage preparation of annual 1099s/1096
- Prepare information and documents required for payment of quarterly estimated excise taxes.
- Monitor preparation of annual 990 and state tax returns
- Lead audit and provide auditors with information in an organized and professional manner.
- Update and/or create accounting and operational policies and procedures as required.
- Work with insurance brokers to procure, manage, and analyze insurance coverage.
- Oversee property leases to ensure the tenant is in compliance with all lease requirements.
- Oversee asset management of CMFF office, Lot and Condo
- Attend quarterly Board of Trustee meetings and provide supporting financial documents.
- Work closely with the Executive Director and Trustees to maintain an environment for compliance with regulatory and legal requirements, including preparation of required documents.
Qualifications
- Demonstrated ability to communicate effectively, orally and in writing.
- Strong analytical skills
- Experience in reviewing and managing investment assets and portfolio trends.
- Excellent verbal and written communication skills including creating presentation materials.
- Ability to think strategically and anticipate future trends and incorporate them into organizational planning.
- Ability to manage and lead people and capacity to execute accountability.
- Proficient in QuickBooks online and/or other accounting software programs
- Experienced with PNC Pinacle platform
- Advanced knowledge of Microsoft 365. You must be an expert in Excel.
- Working knowledge and understanding of IRS regulations regarding 501c3 nonprofit organizations
- Support One Freeman initiative to build a cohesive culture and foster collaboration between all Freeman entities.
Requirements
- Bachelor’s degree in finance, accounting, business Management, or related field; CPA plus
- Minimum of 10 years of relevant experience in accounting or related field with at least 5 years in a senior finance position; nonprofit experience preferred.
General Information
The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this position. They are not intended to be an exhaustive list of all duties, responsibilities, and skills required of personnel so classified. Position descriptions may be modified at the discretion of the Foundations at any time with or without notice to incumbents currently in the position. All reasonable efforts will be made in order to notify incumbents of position description changes. Reasonable accommodation will be made for those qualified incumbents with a disability, as stated under the ADA. For more information or to request reasonable accommodation, please contact Human Resources.
The incumbent must be able to work in a fast-paced environment with a demonstrated ability to prioritize multiple, competing tasks and demands and to seek supervisory assistance as appropriate.
