Vice President of Finance and Chief Financial Officer

THE OPPORTUNITY
Maine Community Foundation (“MaineCF”) is building a better Maine – more equitable, vibrant, and prosperous – by bringing people and resources together. Through partnerships and broad community leadership based on shared values, our work supports positive individual and population-level change. Started with a $10 contribution in 1983, MaineCF now is the only statewide community foundation and second-largest foundation overall with assets of $800 million and growing. Our team of 50+ professional people – with relationships with local, nonprofit, and state leaders across all 16 Maine counties – gives MaineCF a unique ability to make community investments that make a difference for people across the state. You can learn more about us by visiting our website: www.mainecf.org.

As we move into our fifth decade of work, we are mindful that the communities we serve are confronting myriad challenges and that people of color, people living in rural communities, and those with low incomes continue to lack access to necessary services. MaineCF is committed to addressing the big challenges facing Maine in collaboration with our donors, nonprofits, government leaders, and business partners.

THE POSITION
MaineCF is looking for its next Vice President of Finance and Chief Financial Officer (VP/CFO). Reporting to the Chief Executive Officer and working alongside other members of the Management Team, the VP/CFO oversee all financial functions of the organization, including budgeting, financial planning and analysis, investment management, and fiscal operations. This role is critical to ensuring MaineCF’s long-term financial health and its ability to deliver on its mission throughout the state. The VP/CFO will provide strategic financial leadership and manage a team of eight individuals. Direct reports to the VP/CFO include the Senior Director of Finance, the Investment Accounting Manager, and the Team Administrator.

MaineCF employs a team of 54 staff who work from the main office in Ellsworth, a second office in Portland, and remotely throughout the state. We invest in our own people and processes to ensure we can help our neighbors thrive. By strengthening our financial systems and aligning resources with the needs of Maine communities, MaineCF will be positioned to better serve the people of Maine. This is an exciting opportunity for a strategic financial leader who is energized and inspired by the opportunity to shape the foundation’s financial future and contribute meaningfully to the advancement of MaineCF’s mission.

KEY PRIORITIES AND RESPONSIBILITIES
The Vice President of Finance and Chief Financial Officer is responsible for the review, analysis, and evaluation of the day-to-day finances of the Foundation. The VP/CFO is a steward (protecting financial integrity), an operator (running efficient finance functions), a strategist (guiding long-term direction), and a catalyst (driving performance across the organization).

Primary duties include:

Financial Strategy & Leadership

• Develops and implements long-term financial strategies aligned with organizational goals. This includes evolving the foundation’s business model to support its community leadership role
• Serves as a key advisor to the CEO, board, and executive team on financial performance and strategy
• Balances growth, risk, and return to optimize the organization’s financial position
• Serves as the primary staff liaison with the Finance & Audit Committee and the Investment Committee
• Serves as the Treasurer for the board
• Serves in “capacity of” CFO for all supporting organizations

Financial Planning & Analysis

• Oversees the process for budgeting, forecasting, and financial forecasting/modeling
• Monitors financial performance against targets and provides insights for decision-making
• Identifies opportunities for cost optimization, revenue growth, and operational efficiency
• Analyzes and interprets financial information related to the Foundation’s performance; makes recommendations on business policy, resource allocation, and business operations

Accounting & Financial Reporting

• Ensures accurate and timely financial statements, consistent with GAAP/IFRS or other regulatory requirements
• Maintains transparency with internal and external stakeholders (board, investors, regulators, donors)
• Oversees the preparation of the Foundation and supporting organizations’ 990 and related tax returns for all required federal and state governments
• Oversees the annual audit in compliance with FASB regulations and GAAP for the Foundation, related supporting organizations and other entities
• Oversees expenditures of the Foundation, including check signing and asset transfers

Risk Management & Compliance

• Identifies and mitigates financial risks
• Ensures compliance with tax laws, FASB, and State and Federal accounting regulations, and reporting standards
• Oversees internal controls and governance practices

Capital Management & Treasury

• Manages cash flow, liquidity, and working capital to support operations and growth
• Oversees investment strategies and capital allocation
• Serves as the internal liaison to external investment partners/firm
• Reviews quarterly income allocation for the various investment pools
• Manages debt, banking relationships, and fundraising/investor relations

Strategic Initiatives

• Creates financial and investment framework to support MaineCF strategic initiatives
• Provides data-driven insights to support strategic initiatives
• Directs unique and strategic financial partnerships to drive greater community impact
• Helps design performance metrics that drive accountability and efficiency

Fundholder Services

• Creatively supports MaineCF’s role as provider of philanthropic infrastructure to facilitate charitable giving in Maine and maximize assets
• Serves as the finance and investment lead on significant donor relationships.
• Assists staff with donor relations as needed

Leadership & Team Development

• Builds and leads the finance and investment team, ensuring strong technical skills and strategic thinking
• Fosters a culture of financial discipline and ethical responsibility
• Acts as a mentor and partner to other leaders in financial literacy and decision-making

Other Responsibilities

• Participates and provides leadership in organizational management as a member of MaineCF’s senior management team
• Performs the duties of a department manager, including interviewing, hiring, scheduling, training, supervising, evaluating, recognizing and disciplining direct reports, setting employee goals and objectives, resolving employee issues, and ensuring compliance with the Employee Handbook and related personnel policies

Other Duties and Responsibilities

• Perform other duties as assigned

Committees/Teams

• Management Team (member)
• Finance Team (supervisor)
• Finance and Audit Committee of the Board (internal VP liaison)
• Investment Committee of the Board (internal VP liaison)
• Risk and Technology Committee of the Board (internal staff member)

MINIMUM QUALIFICATIONS/EXPERIENCE
We are seeking an individual with the following minimum qualifications/experience:

• A combination of education and experience equivalent to the needs of the role with a minimum of ten years of relevant work experience
• Knowledge of Generally Accepted Accounting Principles and Financial Accounting Standards as they apply to the nonprofit industry
• Understanding of finance (cash flow, income statement, balance sheet, revenue, expense, etc.)
• Working knowledge of investment management, financial markets, accounting and charitable gift planning strategies
• Flexible and able to work productively with MaineCF’s board finance and audit and investment committees, CEO, management and staff, and outside audit and investment firms
• Ability to form strong working relationships internally and with fundholders and external finance and investment partners
• Excellent customer service ethic
• Strong research, due diligence, and project management skills
• Strong written and verbal communications skills
• Strong attention to detail
• Ability to exercise considerable independent judgment and sound decision-making
• Proven experience in making difficult decisions and setting priorities
• Strong work ethic
• Ability to set goals, prioritize tasks, and manage simultaneous projects
• Undergraduate degree required (accounting, related business degree, or equivalent)

Preferred Experience and Skills
The following preferred qualifications are desirable and will contribute to employee effectiveness but are not essential to carrying out the day-to-day functions of the job.

• Finance experience at a community foundation or other philanthropy
• Understanding of endowment-style investing
• Familiarity with impact investing

CHARACTERISTICS OF AN IDEAL CANDIDATE
MaineCF’s next VP/CFO will be an experienced finance leader with deep experience and commitment to our mission. While no one candidate will embody all the qualifications enumerated below, the ideal candidate will possess many of the following professional and personal abilities, attributes and experiences:

• Commitment to service to donors, nonprofit organizations, and grantmaking volunteers
• Ability to meet comfortably with strategic partners, external stakeholders, and donors
• Commitment to support the needs of the board of directors and various committees
• Ability to maintain open and effective communication with all departments within the Foundation; work as a member of the team in the performance of duties
• Ability to work well with others
• Reliability and trustworthiness
• Organization and ability to juggle multiple tasks
• Performance of duties in a conscientious and cooperative manner
• Ability to maintain confidentiality for all information concerning MCF business, its employees, and its donors, as well as other appropriate information
• Willingness to share our commitment to equity and use equity to inform their work
• Understanding and implementations of Foundation policies and procedures

LOCATION OF THE ROLE
This is an on-site position based at MaineCF headquarters in Ellsworth, Maine, and the selected candidate must live in Maine or establish Maine residency within three months of hire. The position will also entail occasional travel to MaineCF offices in Portland and other locations throughout the state.

Ellsworth is a charming coastal town located in the beautiful Downeast region of Maine. Ellsworth and surrounding communities offer a blend of local culture and natural beauty. Situated as a gateway to Acadia National Park, with its pink granite peaks, stunning ocean views and one-of-a-kind carriage roads that offer year-round recreation, the region has exceptional opportunities for hiking, camping, kayaking, fishing, and more. The town hosts weekly farmers markets where locals gather to enjoy fresh produce, artisan goods and live music. It is home to several notable art galleries and cultural events that highlight the region’s creative spirit.

We welcome and encourage all qualified candidates to apply – those from Maine who understand the state’s culture, geography, opportunities and challenges and have existing local professional networks and those who bring perspective and experience from out of the state.

COMPENSATION AND BENEFITS
MaineCF offers a competitive wages and benefits package. The base compensation range for this position is $175,000 – $205,000, with a generous benefits package including medical, dental and vision insurance, paid vacation, paid holidays, short-term, long-term disability and life insurance options, retirement plans with a company contribution and more.