Spartanburg, SC

Chief Finance Officer, Mary Black Foundation

The Organization

Spartanburg County is a thriving and connected community where diverse and educated citizens lead active and healthy lives.

The Mary Black Foundation invests in people and communities for improved health, wellness, and success in Spartanburg County.

• Impact: Our results improve and transform people’s lives.
• Collaboration: We connect with others to make our community stronger.
• Accountability: We are responsible stewards of the Foundation’s assets.
• Respect: We are open, inclusive, and caring.
• Equity: We believe all people should have the opportunity to succeed.

All employees, regardless of position, are expected to embrace and apply the Foundation’s Vision, Mission, and Core Values as part of their everyday work.

Position Title: CFO
Reports To: President/CEO
Position Description: This position is responsible for directing financial, accounting and investment activities of the organization. S/he exercises discretionary power in significant matters and is designated the officer in charge of the organization’s daily activities in the CEO’s absence. S/he serves as advisor and counsel to the President/CEO on all financial, accounting and investment issues.

Essential Duties and Responsibilities:

Financial Management
• Responsible for operation of financial, accounting and reporting functions. Prepares financial analysis, financial statements, annual budgets, and reports. Maintains the general ledger, ensuring financial transactions are fairly presented in conformity with U.S. generally accepted accounting principles.
• Manages the annual development of the budget and provides ongoing fiscal and budgetary management.
• Prepares cash flow projections on a quarterly basis.
• Ensures grant funds are disbursed in accordance with IRS provisions and internal grant agreements.
• Calculates the target grant payout (also known as the minimum distribution requirement) two-three times a year, during grant cycles.
• Oversees the preparation, review, and reporting of financial statements for management and the Board of Trustees.
• Utilizes best practices to develop, implement and manage policies and procedures for efficient and accurate recordkeeping, including the establishment and maintenance of strong internal controls; provides effective and timely cash flow management, ensuring available cash to meet grant and operating expenses. Provides oversite to the check processing function.
• Oversees the reconciliation of all bank account(s).
• Maintains a ledger of fixed assets, records additions and disposals, and ensures depreciation is calculated properly. Works with technology firm to maintain accurate list of assets. Oversees safe custody of assets.
• Obtains new signatures, as required, on an annual basis.
• Prepares financial information to be included on the Foundation’s website and in its annual report.
• Develops and maintains sound policies necessary to implement other grants that Foundation may receive. Files all necessary financial reports and works closely with project directors to ensure proper spending of funds.
• Provides staff support to Finance & Operations Committee.

Investment Administration
• Provides oversight to the investment management function. Works closely with the Outsourced Chief Investment Officers (OCIO) to communicate periodic cash requirements and implement transactions that the OCIO originate in accordance with the Investment Policy Statement.
• Oversees the reconciliation of all monthly or quarterly investment fund manager statements on a timely basis, ensuring that statements received from fund managers tie to the reports from investment advisors.
• Reviews subscription agreements of new investments as required.
• Maintains book and tax basis for each investment.
• Provides staff support to the Foundation’s OCIO and the Investment Committee.
• Oversees RFP process for investment consultants on an “as needed” basis.
• Manages Impact Investment Portfolio

Legal and Regulatory Compliance
• Keeps current on regulations relevant to private foundations to ensure regulatory compliance and timely filing of reports.
• Responsible for meeting tax requirements and compliance, including but not limited to 990-PF, 1099-MISC and state USE tax filings, Form 5500; calculates and pays estimated payments; and prepares other third party/government reporting and filings; ensures compliance with 990-PF reporting of grants and accounting requirements; works with accounting firm to ensure complete and accurate preparation of tax return.
• Responsible for financial and other third-party audits, including Workers Compensation audit, if applicable.
• Ensures the Record Retention and Destruction Policy is updated as needed and that the Foundation is in compliance.
• Maintains property, workers compensation, Directors and Officers liability, cybersecurity, and other insurance policies on an annual basis, including completing applications and reviewing policies.
• Ensures and completes work to have appraisals completed every five years for tax purposes.
• Oversees RFP process for audit firm on an “as needed” basis.
• Provides staff support to the Audit Committee.

Organizational Management and Leadership
• Oversees key aspects of human resources including compensation and benefits, personnel policies and implementation, insurance and retirement plan selection, and administration.
• Directly supervises and regularly communicates with Office Manager and Accounting Assistant. Participates in hiring and training, planning, and directing work, and performance evaluations for these positions.
• Represents the Foundation in external meetings and at community events when needed.
• Participates in regular strategic planning for the organization.
• Performs additional duties as assigned by the President/CEO.

• Five or more years of financial experience in a management role, preferably within a nonprofit organization or a foundation.
• Certified Public Accountant or Certified Management Accountant, preferred.
• Experience with investment management, preferred.
• Strong financial planning and analytic skills.
• Excellent verbal and written communication skills.
• Ability to self-motivate and work independently as well as in a team/group setting.
• Excellent project management skills with strong attention to detail and demonstrated ability to complete tasks in a timely manner.
• Proficiency in Microsoft Office Suite, required.
• Proficiency with Blackbaud’s Financial Edge NXT, preferred.

Educational Requirements:
Bachelor’s Degree, required
Master’s Degree, preferred

Compensation & Benefits:
The Mary Black Foundation offers a comprehensive salary and benefits package, including 100% employer paid health, dental & vision coverage for the employee and 40% employer paid for dependents; employer contribution to a retirement plan; long-term disability insurance; life insurance; and a generous paid time off plan. Normal office hours are 8:30am-5pm (M-TH) and 8:30am-3pm (F) and this position is eligible for remote work up to two days a week. The salary range for this position is $100,000–$140,000, commensurate with experience.

How To Apply

Send Resume To:
Linda Smith, Office Manager
349 East Main Street, Suite 100
Spartanburg, SC 29302

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