Chief Financial Officer
REPORTS TO: Executive Director
SUMMARY OF POSITION DESCRIPTION
This position will be responsible for:
- All accounting / finance related activities of the Detroit Shoreway Community Development Organization (DSCDO) including supervision of Finance Department staff.
- Asset management of all real estate owned by DSCDO and its subsidiaries
DSCDO was founded in 1973 and is one of the largest community development corporations in Northeast Ohio with 32 full-time employees and 2 part-time employees. DSCDO has cashflow from its activities consisting of:
- Annual Operating budget for 2019 of about $3.3 million
- Property and Asset Management for rental income of $2.4 million annually from multiple subsidiary corporations/LLC with 339 apartment units and 50,000 square feet of commercial properties
- Real estate development activities ranging from $5M - $10M annually
Duties include, but are not limited to, the following:
Financial Management services including:
- All bookkeeping services including check writing, maintenance of disbursement journals, bank reconciliations, and preparation of monthly financial statements and reports for DSCDO, 12 different rental property subsidiaries, real estate projects under development and construction, and service contracts with other organizations.
- Prepare cash flow and forecasting monthly
- Coordination and preparation of annual organizational budget
- Manage administrative services contracts with other organizations such as the special improvements district and other community development organizations. Responsibilities include preparation of budget, bookkeeping and accounting, and coordination of annual audits.
- Bookkeeping and accounting for real estate projects under development and construction.
- Annual audit for DSCDO and coordinate audits for subsidiary entities (currently 12 subsidiary corporations)
- Meet with external auditors and grant monitors and provide support documentation as requested
- Review federal 990 non-profit tax return
- Prepare financial component of annual grant applications including to the City of Cleveland and Cleveland Neighborhood Progress (CNP)
- Prepare grant disbursements and reports for CHDO, CNP, and other foundation grants as needed
- Account analysis and special project reports as needed
- Meet with executive director monthly to discuss and prepare cashflow statement
- Prepare financial statements monthly, attend board finance committee meetings bi-monthly, and board meetings twice per year to review annual audit and annual budget
Asset Management services including:
- Review profit and loss budget variance reports monthly and call to the attention of the executive director any cash shortfalls that may be anticipated
- Review occupancy reports and delinquent rent reports monthly
- Review compliance reports for LIHTC, HDAP, HOME, and HOPE VI
- Review annual capital improvements plan and monitor performance
- Monitor real estate tax assessments and insurance charges
- Prepare monthly summary report to executive director
· Minimum of Bachelor’s degree in accounting or related field
· Minimum five years experience in general accounting and financing
· Minimum three years experience in property management accounting
· Familiarity with federal, state and local tax laws
· Excellent writing skills and proficiency in preparing written reports and business correspondence
· Strong oral communication skills and an ability to “think on your feet”
· Supervisory skills
· Ability to work long hours some days and attend meetings on evenings and weekends; local travel and some out-of-town travel required
· Ability to work with people of all racial, ethnic and diverse backgrounds
· Self-motivation and an ability to work toward objectives with minimal supervision
· Computer proficiency including Quickbooks, YARDI or equivalent software, and Microsoft Word and Excel
· Master’s degree in Accounting
· Certified Public Accountant (CPA)
· Experience with a community development corporation and/or audit firm
· Experience with Low Income Housing Tax Credit accounting
Ability to operate a computer and keyboard. May require reaching, standing, walking, fingering, grasping and feeling, and the ability to lift or move objects up to 20 pounds. May require vocal communication for expressing or exchanging ideas, hearing to perceive information at normal spoken word levels, visual acuity for color perception, preparing and analyzing written or computer data, determining the accuracy and thoroughness of work, and observing general surroundings and activities.
Availability for extended hours during peak periods and attendance at evening and week-end meetings. Exposure to inside and outside environmental conditions. The office is located in a smoke-free facility.
This position description is not intended to be a complete list of all responsibilities, duties or skills required for the job and is subject to review and change at any time, with or without notice, in accordance with the needs of Detroit Shoreway Community Development Organization. Since no position description can detail all the duties and responsibilities that may be required from time to time in the performance of a job, duties and responsibilities that may be inherent in a job, reasonably required for its performance, or required due to the changing nature of the job shall also be considered part of the jobholder’s responsibility.
Detroit Shoreway Community Development Organization is an Equal Opportunity Employer and is particularly committed to recruiting women and minorities.
· Annual salary $80,000 to $100,000 depending on qualifications (this position is exempt from overtime compensation)
· Paid Time Off accrued at the rate of one day per month during the first year of employment, then 18 days beginning the second year of employment
· Holiday pay including New Year’s Day, Martin Luther King Jr. Day, President’s Day, Memorial Day, the Fourth of July, Labor Day, Thanksgiving, the Friday after Thanksgiving, and December 24th through December 31st.
· Employer contribution to 403(B) retirement program. Employer will provide a 50% match to the Employee’s contribution up to a maximum of 3% of the employee’s annual salary.
· Competitive health insurance offered with employer contribution.
· Long term disability benefits
• Annual Operating budget for 2019 of about $3.3 million
• Property and Asset Management for rental income of $2.4 million annually from multiple subsidiary corporations/LLC with 339 apartment units and 50,000 square feet of commercial properties
• Real estate development activities ranging from $5M - $10M annually