One of three officers of the Trust, the Chief Financial Officer (CFO) reports to the President and the Board. The CFO has day-to-day responsibility for a highly complex financial structure supporting the work of the Trust.
The CFO oversees accounting, finance, forecasting, budget preparation and monitoring, financial analysis, financial reporting, treasury functions and working with the Investments Committee and external Investment Advisor to manage the endowment. The endowment is primarily restricted and Board designated and is comprised of many different funds. Similarly, the gifts and grants that are raised annually are also primarily restricted which requires careful monitoring. The endowment is comprised of both liquid and illiquid securities, including private equity, and is the major focus of the annual financial audit.
The CFO serves as a member of the President’s Executive Team. S/he also serves as the principal financial officer of the corporation under the bylaws, reporting regularly to the Board of Trustees and serving as management liaison to the Audit, Finance & Management, and Investments Committees of the Board of Trustees. S/he also oversees the financial relationship between the National Trust and its subsidiaries and may at times serve on the boards of National Trust subsidiaries.
ABOUT THE NATIONAL TRUST
The National Trust for Historic Preservation protects significant places representing our diverse cultural experience by taking direct action and inspiring broad public support, while upholding our organizational values: Collaboration, Diversity and Inclusion, Innovation, Integrity and Making a Difference.
The National Trust for Historic Preservation is a privately funded nonprofit organization that works to save America’s historic places. The National Trust seeks to expand the preservation movement through direct, on-the-ground action and advocacy campaigns that save and reimagine historic sites. Its work helps build vibrant, sustainable communities by facilitating broad public participation in the preservation of sites, buildings, and objects of national significance or interest. The Trust is about people saving places. It advocates to save America’s heritage, striving to create a cultural legacy that is as diverse as the nation itself so all of us can take pride in the full American story.
Chartered by Congress in 1949, today the National Trust operates out of its headquarters in Washington, DC, eight field offices, and 28 historic sites nationwide. The National Trust is supported entirely by private contributions and earned income and is broadly recognized as the country’s leader of the historic preservation movement.
The National Trust has set out a strategic vision to become the national name for saving places; to be known, understood, appreciated, and supported by millions of Americans; and to use that stature and reputation to affect preservation at an unprecedented scale and impact. The Trust is a thriving organization, actively saving America’s significant historic places, representing our collective cultural experience, for the benefit and enrichment of all. A key priority for the President and CEO is to drive the National Trust’s commitment to diversity and inclusion as the organization works to protect a cultural legacy that is as textured and diverse as the American experience, strengthening the social, environmental, and economic fabric of communities.
As the leading advocate for the protection of significant places and cultural landscapes, the National Trust helps cities and towns across the country safeguard and reuse their unique and invaluable historic resources. The organization also manages a network of historic sites to model best practices in stewardship, interpretation, and programming. The National Trust promotes investment in historic urban neighborhoods and main streets to help support vital, equitable, resilient, and healthy communities. The National Trust uses real estate, advocacy and legal tools to take direct action to save a revolving portfolio of individual places with deep significance to our country.
National Trust Subsidiaries
The National Trust has two subsidiary organizations that are closely tied to the Trust by brand, governance, and mission.
The National Main Street Center (NMSC), the Trust’s not-for-profit subsidiary, is a national organization committed to historic preservation-based community revitalization. Its primary program, Main Street America, has been helping revitalize older and historic commercial districts for more than 35 years. Today, it is a network of more than 1,600 neighborhoods and communities, rural and urban, who share both a commitment to place and to becoming stronger communities.
National Trust Community Investment Corporation (NTCIC), the Trust’s for-profit subsidiary, enables tax credit equity investments that support sustainable communities nationwide. NTCIC provides financing for federal and state historic tax credit (HTC), new markets tax credit (NMTC), solar tax credit (ITC), and low-income housing tax credit (LIHTC) projects. On an annual basis, NTCIC generates dividend income to support the National Trust’s programs. NTCIC is also the parent company of National Trust Tours and National Trust Insurance Services.
The National Trust’s Audited financial statements for the period ending June 30, 2018 showed total net assets of $305.9 million and total operating expenses of $72.1 million on a consolidated basis. The National Trust has more than a million supporters, which includes a strong base of 85,000 actively contributing members and donors, who along with foundation and corporate support, contribute more than 50% of all annual revenue.
The National Trust’s for-profit subsidiary generates between $1-2 million in support annually. The organization has an endowment with a current market value of $228 million, more than half of which is dedicated to its portfolio of 28 historic sites.
The National Trust is governed by a 25-30-member Board of Trustees that meets three times a year. Trustees bring a variety of expertise that includes: preservation; community revitalization and planning; finance; investments; business and organizational management; legal; marketing and government relations. The Board has seven active and engaged standing committees which occasionally meet between Board meetings to address key issues.
- Responsible for all aspects of the division including: hiring/firing, performance management, developing and monitoring the budget, setting priorities, and monitoring workloads.
- Works closely with the President, Executive Team and the Board to identify their financial information needs and provide clear, useful financial analysis and information to help them meet their responsibilities for financial oversight.
- Responsible for recruiting and retaining a highly competent, culturally diverse staff.
- Identifies tools to improve the efficiency and quality of the division’s work, including new technology.
- Fosters a culture of transparency and ethical behavior.
- Oversees the preparation of the annual cash budget and its incorporation into the Trust’s financial systems, working collaboratively with the Chief Administrative Officer (CAO) to engage other members of the Executive Team, with a focus on setting priorities, directing the allocation of resources based on the strategic plan, and bringing together the right teams of people to resolve issues.
- S/he and the CAO will work together to monitor the budget and engage the Executive Team to initiate whatever changes are necessary to keep the budget balanced.
- Responsible for the development of reports for management and Board review that are transparent, understandable, that raise any issues clearly and understandably, and that propose solutions to issues as they arise.
- Continues the work of transforming the organization’s budget from an accrual-based budget to a cash budget.
- Immediately reports any financial concerns, along with specific recommendations to address the concerns, to the President (and the Board, when appropriate).
- Provides timely, accurate, meaningful and transparent financial reports to management and the Board.
- Participates in long range planning efforts, providing financial analysis and forecasts to support this work.
- Oversees tax planning and preparation for the Trust and works with the Chief Legal Officer/General Counsel and external tax preparer to complete the annual tax returns on time.
- Manages the Trust’s relationship with all financial institutions including banks, custodians, depository accounts, and investment accounts.
- Obtains Board approval for and negotiates/secures capital financing, including bond financing and lines or letters of credit, as needed. Oversees debt obligations and fulfills all covenant requirements imposed by lenders.
- Works with the Chief Legal Officer/General Counsel to ensure that the Trust has appropriate insurance coverage.
- Staffs the Finance & Management Committee, the Audit Committee, and the Investments Committee of the Board including preparation of agenda, minutes, reports, and other materials requested by the Committee.
- Works with the external investment advisor and the Investments Committee Chair to develop the agenda and materials for the Investments Committee.
- Implements the decisions of the Investments Committee regarding capital calls, liquidation of securities, rebalancing the portfolio, and changes in investment managers.
- Provides information to the external advisor on the Trust’s liquidity needs.
- Manages the monthly recording of investment values and the calculation of endowment values by fund.
- Provides timely investment reports to fund stakeholders.
- Ensures compliance with the Investment Policy and periodically reviews the Policy and recommend changes to the President of the Trust for Board approval, as needed.
- Works with the Audit Committee, President, and Chief Legal Officer/General Counsel in the development and completion of internal audits including reporting results to the Audit Committee and implementing recommendations.
- Maintains systems of internal controls to safeguard the financial assets of the Trust.
- Works with the President and Chief Legal Officer/General Counsel to periodically report to the Audit Committee on the Trust’s potential financial, operational, and reputational risks.
- Assists the Audit Committee in hiring external financial auditors and coordinates the annual financial audits, including Uniform Guidance audits and employee benefit plan audits.
- Ensures that the Trust is in compliance with all 401(a) and 403(b) requirements, that the Trust’s financial statements are GAAP compliant, and the Trust is complying with all applicable federal, state, and local regulatory laws and rules for financial and tax reporting.
- Provides the Executive Team with analytical support and financial recommendations related to new business proposals.
- Works closely with National Trust subsidiaries to monitor profit/loss forecasts and controls.
- An understanding of, and affinity for, the mission and work of the Trust;
- 22 or more years of professional level experience preferred, including at least 15 years in progressively responsible financial leadership roles. Caliber of experience and type of organization worked for may be taken into consideration along with years of experience.
- At least 15 years’ experience with division-level strategic planning, budgeting, staffing, supervising senior professionals and leading departments to generate high quality results.
- At least 15 years’ experience leading large, cross-divisional projects and teams, preferably within a national-level non-profit setting.
- Experience with non-profit accounting, including fund accounting.
- Experience working for a not-for-profit Board.
- Experience with cash-based budgeting.
- At least five years of experience with endowment investments.
- Advanced analytical skills and problem-solving skills, including issue identification and prioritization.
- Advanced project-management, division-management, and client-management skills, with the ability to develop and execute short and long terms plans including the establishment of goals and outcome measures. Dependability, with a strong sense of urgency and results-orientation, essential.
- Excellent verbal and written communication skills, with a willingness to share information and the ability to present highly complicated and technical information in a transparent and understandable way to decision makers.
- Demonstrated experience leading senior-level staff and department heads, as well as successfully managing key internal and external stakeholders and relationships. Proven ability to train, motivate and manage staff in a fast-paced, high-performing environment.
- A collaborative style in all work relationships; direct reports, peers, and the President and Board.
- Ability to prioritize, multi-task efficiently, and respond to a high volume of ongoing requests in a timely fashion; ability to work effectively with frequent interruptions. Able to handle frequently changing and/or unscheduled tasks with accuracy.
- Ability to be hands-on as required and to delegate as possible.
- Strong leadership capabilities.
- Ability to exercise sound judgment and make decisions based on accurate and timely analyses. Anticipates and responds appropriately to business risks. Makes informed recommendations outside of his/her area of expertise. Makes decisions that balance a variety of factors (e.g., cost, risk, short-term vs. long-term impact) to achieve optimal outcome.
- Mature and proactive, with evidence of having worked as a true business partner to the executives of a multi-divisional organization.
- Ethical behavior.
- Experience leading cross-functional teams to build budgets and solve problems.
- A demonstrated commitment to diversity and inclusiveness.
- A demonstrated capability for learning new systems and software.
- Advanced knowledge of Microsoft Word and Excel.
- Bachelor’s degree in Accounting or Finance (or equivalent work experience) required. Master’s degree or PhD in relevant field, or equivalent experience, highly preferred.
- CPA accreditation preferred.
Please email resume with cover letter to: 1089371-CJBemail@example.com