Chief Financial Officer
Company: Inclusive Action for the City
Location: Los Angeles, CA
Job Function: Accounting
Background
Inclusive Action for the City is a 501(c)(3) nonprofit organization whose mission is to bring people together to build strong, local economies that uplift low-income urban communities through advocacy and transformative economic development initiatives. Founded in 2008, the organization employs a multi-disciplinary approach to its work, creating spaces for new ideas, compiling research, supporting local entrepreneurs and leaders, and helping other organizations implement their innovations.
Inclusive Action for the City is a Community Development Financial Institution (CDFI) that specializes in lending to micro-businesses in the retail, service, and manufacturing sectors with BIPOC, immigrant, or low-income owners. As of 2023, their team deployed nearly $4,000,000 in micro-loans, with an average loan size of $12,000. They acted as a strong and effective grantor issuing over $3,000,000 in grants serving thousands of entrepreneurs.
Learn more about Inclusive Action for the City at https://www.inclusiveaction.org
Summary
Chief Financial Officer
About Inclusive Action for the City
Inclusive Action for the City is a 501(c)(3) nonprofit organization whose mission is to bring people together to build strong, local economies that uplift low-income urban communities through advocacy and transformative economic development initiatives. Founded in 2008, the organization employs a multi-disciplinary approach to its work, creating spaces for new ideas, compiling research, supporting local entrepreneurs and leaders, and helping other organizations implement their innovations.
Inclusive Action for the City is a Community Development Financial Institution (CDFI) that specializes in lending to micro-businesses in the retail, service, and manufacturing sectors with BIPOC, immigrant, or low-income owners. As of 2023, their team deployed nearly $4,000,000 in micro-loans, with an average loan size of $12,000. They acted as a strong and effective grantor issuing over $3,000,000 in grants serving thousands of entrepreneurs.
Learn more about Inclusive Action for the City at https://www.inclusiveaction.org
Inclusive Action Today and Organizational Culture
Inclusive Action for the City started as a grassroots effort to meet unmet needs, evolving from a young, scrappy group to an organization ready to scale. They aim to maintain a creative, nimble culture while expanding, and the incoming CFO will play a key role in this growth. The organization is built on a solid financial foundation with a clear runway, presenting an opportunity to help elevate its impact while retaining its innovative edge.
This visionary nonprofit focuses on economic justice across Los Angeles County, tackling systemic barriers in multiple ways. What sets them apart is their dual focus: removing obstacles to capital while addressing the broader systemic structures that perpetuate inequality. This work is closely aligned with their direct services, offering a unique approach compared to other Community Development Financial Institutions (CDFIs). They lead policy efforts that reimagine real estate systems, earning the public’s trust and resources.
Inclusive Action became a CDFI in 2020, leading to accelerated programming and new ventures, including real estate. They aim to grow their impact and serve the community better by expanding operational capacity to meet the demands of their programs. They currently manage real estate projects and have acquired properties with New Markets Tax Credits, with a vision to help tenants transition from renters to owners, ensuring small businesses have stable and affordable spaces.
In 2023, they launched their first three-year strategic plan, investing in organizational development, program efficiency, and impact measurement. This internal work helps them serve the community more effectively, especially with their micro-lending program and role as financial intermediaries. Their commitment to addressing the racial wealth gap drives them to be bold in program implementation and rigorous in evaluation.
Inclusive Action for the City has a culture that values participation, feedback, knowledge sharing and intentionality. The diverse team’s deep connections to Los Angeles shape the organization’s approach, making this role an exciting opportunity for an experienced financial leader.
The Opportunity
The Chief Financial Officer (CFO) will join an exciting, rapidly growing organization. In the last three years, they’ve grown from 9 to 30 staff and tripled their budget to $9M. At this critical juncture, the organization is focusing on financial sustainability, including portfolio diversification and new investment strategies.
This is an opportunity for an innovative financial leader to build out the Finance Department and refine financial systems, processes, and forecasting, as the organization balances funding from private sector banks, foundations, and government sources. On the loan fund side, significant funds flow in and out to support the community, with state guarantees now covering 80% of the loans. This leader will need to have the skills and ability to manage this complex process.
The Chief Financial Officer works closely with the Executive Director and Leadership Team to identify and manage the organization’s finances. This role will be a steward of the organization’s resources and lead its efforts to be a prudent utilizer of grants and investments to further Inclusive Action’s mission, while also developing forecasts that support our Leadership Team’s programmatic priorities.
This role has the expertise, focus, and influence to be a strong accounting and operational leader for the organization. Strong project management and communication skills are a necessity in this role, and the successful candidate will be a proven problem solver who can leverage impact and influence to find clarity in complex and gray situations. They will help lead financial relationships with banks, investors, and funders as appropriate, and represent the organization and its priorities in the field. The Chief Financial Officer reports to the Chief Executive Officer and supports the Leadership Team, currently composed of the Vice President of Policy & Legal Strategy, Director of Lending, Director of Operations, and Director of Community Innovation.
Job Responsibilities
Financial Planning & Analysis
• Lead the management of cash, investments, insurance, budgeting, and financial reporting, and help drive the company’s financial strategy and hiring needs.
• Work with Program Directors to efficiently develop budget proposals, provide access to project finance information, and ensure contract/grant compliance and reporting. Collaborate to create Key Performance Indicators that all Directors can use to guide work.
• Perform risk management through analysis of company liabilities and investments and evaluate and manage capital structure and fundraising initiatives.
• Develop and implement financial strategies, plans, and policies aligned with the organization’s objectives. Provide timely, accurate financial reports to the Leadership Team and Board to assist in performing their responsibilities.
• Conduct financial analysis, forecasting, and budgeting to support decision-making processes.
Financial Reporting & Compliance
• Prepare accurate and timely financial reports, statements, and disclosures for internal and external stakeholders.
• Work with the CEO to lead Board finance committee meetings that showcase the latest organizational financial statements, forecasts, and highlights.
• Ensure compliance with accounting standards, tax regulations, and financial laws across all areas of the organization.
Risk Management
• Identify and assess financial risks and develop risk mitigation strategies to safeguard the organization’s assets and interests.
• Monitor and manage financial exposures, such as currency risks, interest rate risks, and credit risks.
Capital Management
• Optimize capital structure and funding strategies to support organizational growth and expansion plans.
• Manage relationships with banks, investors, and other financial institutions to secure necessary funding and capital resources.
Financial Operations
• Oversee financial operations including treasury management, cash flow forecasting, and investment management.
• Implement financial controls, policies, and procedures to ensure accuracy, transparency, and accountability in financial transactions.
Impact Assessment, Data & Evaluation Systems
• Facilitate the Leadership Team’s vision for impact, forecasting, and defining how IAC wants to create change in 5+ years.
• Create systems, processes, and tools for and with the Leadership team to dynamically forecast and assess organizational impact.
• Create, revise, and maintain the systems to monitor progress towards the organization’s strategic goals, priorities, and special projects.
• Utilize both qualitative and quantitative data synthesis to formulate recommended solutions on the right path forward.
• Co-create and refine metrics and outcome measures with Directors and the team that center the needs of clients and community members.
• Collaborate with Communications staff to share impact externally.
• Demonstrate an adaptive mindset with an ability to concurrently see the big picture while focusing on the details.
Team Culture
• Lead initiatives to build relationships and a positive team culture where all team members feel valued and are able to show up as their authentic selves.
• Plan and facilitate weekly team meetings and staff retreat content.
Candidate Profile
The Chief Financial Officer is responsible for the strategic positioning of the finances, liquidity, investments, and available capital at Inclusive Action for the City. The ideal candidate will possess a minimum of 10 years of progressive finance and accounting experience in high growth environments, ideally with a background in banking or finance (preferably within a CDFI or similar organization). Their experience could include roles in project management, strategy, economic development, or consulting. They should bring a minimum of 2 years in a senior leadership role as part of an executive team.
Additionally, they should have a strong understanding of nonprofit accounting, grant management, cost allocation concepts, and other nonprofit accounting practices/standards. Experience managing projects and budgets over $2 million is a plus. A Bachelor’s degree from an accredited four-year university is required. A Certified Public Accountant (CPA) is a plus.
While no single candidate will have every experience listed in the position profile, the ideal candidates will exhibit the following professional and personal qualities, skills, and characteristics:
Passion for Mission
The CFO will demonstrate a passion for Inclusive Action for the City’s mission of economic justice, and supporting underserved communities, with a deep commitment to diversity, equity, and inclusion. They will possess a clear understanding of how their role aligns with the organizational vision and mission and will exemplify personal qualities of integrity, credibility and strong cultural competence.
Strategic & Collaborative Financial Leadership
The ideal candidate for this CFO role will be a strategist who can support organizational growth while maintaining operational and financial sustainability. With excellent strategic, analytical, and problem-solving skills, they will be able to move seamlessly between ground-level operations and high-level strategic thinking as needed. The CFO will provide decision support and a deeper understanding of the financials to the Board of Directors and executive leadership. Adaptable and flexible, they will be able to respond to unexpected challenges, proactively identifying potential risks as well as opportunities for the organization.
The CFO will demonstrate a collaborative leadership style, being a team player and partner to leadership and the Board, able to work closely and effectively with colleagues at all levels. This positive and upbeat leader will have a demonstrated ability to have impact and influence across multiple functional areas (e.g., policy, program management, talent, finance, operations, etc.).
Finance and Accounting Expertise
Self-directed and results-oriented, the Chief Financial Officer will be an experienced leader in the field of finance and accounting with a strong working knowledge of generally accepted accounting principles (GAAP), with non-profit accounting and/or financial accounting preferred. This leader will bring strong skills and experience in financial reporting, budgeting, asset liability management, cost/benefit analysis, financial modeling and forecasting, debt financing/lender relations, treasury, cash flow management, audit/internal controls, and risk management to include an understanding of nonprofit, grassroots, and public sector contract compliance.
The CFO will need to be able to liaise with government officials on billing and invoicing matters and bring expertise in real estate acquisition and modeling, helping the organization manage a portfolio of mixed-use buildings while advising on strategies for tenant ownership and LLC structures. Lastly, they will partner with the lending team to track loan collections and forecast future financial models for the loan fund.
Operational Excellence and Change Management Skills
With excellent organizational and planning skills, the Chief Financial Officer will bring the ability to identify operational pain points and streamline processes while being open to feedback and acting as a thought partner to both the Board and Executive Team. This leader will be skilled in creating and improving financial processes (contract negotiations, loan fund systems, etc.), ensuring the financial interests of the organization are protected and managed effectively. The CFO will ensure the budgeting process and financial reporting is transparent, accurate, and timely. This leader will optimize asset liability management and funding streams, providing thoughtful and informed recommendations and decision support to the Executive Team and the Board.
Excellent Communication & Relationship Building Skills
With excellent listening and verbal communication skills, the Chief Financial Officer will be a grounded and transparent leader who can synthesize complex financial information and present it in a digestible manner to diverse audiences, including the Board, government officials, and external partners. They will have the ability to speak competently about the financials and portfolio health in a way that inspires confidence in the organization.
This individual will bring strong stakeholder management and facilitation skills with the ability to foster strong working relationships internally and externally with executive team members, senior leaders, Board Members, staff, and Inclusive Action’s organizational partners.
Compensation & Benefits
Inclusive Action offers a competitive salary commensurate with experience. The salary range for this position is $165,000 – $205,000 with an expected starting salary of $170,000. The position’s compensation includes full medical, dental, and vision benefits, 14 paid holidays, sick leave, and up to two weeks of paid vacation a year with an opportunity to accrue more after serving two years with the organization.
Hybrid Work Schedule
Currently, the Inclusive Action team is working in person at the office 40% of the time and remotely 60% of the time until further notice and all employees must be vaccinated against COVID-19. The physical office is located in Boyle Heights and is available for necessary in-person appointments as well as an optional workspace. All applicants are expected to live in Los Angeles County.
Contact
Koya Partners has been exclusively retained for this engagement. Express interest in this role by https://apptrkr.com/5804634 or emailing the search team directly at [email protected]. All inquiries and discussions are strictly confidential.
Koya Partners l Diversified Search Group is committed to providing reasonable accommodation to individuals living with disabilities. If you are a qualified individual living with a disability and need assistance expressing interest online, please email [email protected]. If you are selected for an interview, you will receive additional information regarding how to request an accommodation for the interview process.
Inclusive Action for the City does not discriminate on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factor. Applicants and employees are protected from discrimination under Federal law. For more information, please see EEO is the Law. Inclusive Action for the City hires and promotes individuals solely based on their qualifications for the job to be filled.
About Koya Partners l Diversified Search Group
Koya Partners, a Diversified Search Group company, is the nation’s premier search firm dedicated to mission-driven leadership. Since its founding in 2004, Koya has had an exclusive focus on mission-driven clients and was founded on the belief that the right leader can transform an organization and have a deep and measurable impact on our world. Koya works with nonprofits & NGOs, responsible businesses, and social enterprises in local communities and around the world.
Diversified Search Group is consistently recognized by Forbes on its top 10 list of “America’s Best Executive Recruiting Firms” and is an industry leader in recruiting transformational leaders for a changing world. The firm is deliberately different in its approach, with best-in-class teams who have decades of experience in cultivating inclusive leaders, understanding the dimensions of diversity, and building equitable teams.
Learn more about Koya Partners l Diversified Search Group via the http://www.dsgco.com/industry/nonprofit-and-social-impact/
To apply, visit: https://apptrkr.com/5804634
Responsibilities
Financial Planning & Analysis
• Lead the management of cash, investments, insurance, budgeting, and financial reporting, and help drive the company’s financial strategy and hiring needs.
• Work with Program Directors to efficiently develop budget proposals, provide access to project finance information, and ensure contract/grant compliance and reporting. Collaborate to create Key Performance Indicators that all Directors can use to guide work.
• Perform risk management through analysis of company liabilities and investments and evaluate and manage capital structure and fundraising initiatives.
• Develop and implement financial strategies, plans, and policies aligned with the organization’s objectives. Provide timely, accurate financial reports to the Leadership Team and Board to assist in performing their responsibilities.
• Conduct financial analysis, forecasting, and budgeting to support decision-making processes.
Financial Reporting & Compliance
• Prepare accurate and timely financial reports, statements, and disclosures for internal and external stakeholders.
• Work with the CEO to lead Board finance committee meetings that showcase the latest organizational financial statements, forecasts, and highlights.
• Ensure compliance with accounting standards, tax regulations, and financial laws across all areas of the organization.
Risk Management
• Identify and assess financial risks and develop risk mitigation strategies to safeguard the organization’s assets and interests.
• Monitor and manage financial exposures, such as currency risks, interest rate risks, and credit risks.
Capital Management
• Optimize capital structure and funding strategies to support organizational growth and expansion plans.
• Manage relationships with banks, investors, and other financial institutions to secure necessary funding and capital resources.
Financial Operations
• Oversee financial operations including treasury management, cash flow forecasting, and investment management.
• Implement financial controls, policies, and procedures to ensure accuracy, transparency, and accountability in financial transactions.
Impact Assessment, Data & Evaluation Systems
• Facilitate the Leadership Team’s vision for impact, forecasting, and defining how IAC wants to create change in 5+ years.
• Create systems, processes, and tools for and with the Leadership team to dynamically forecast and assess organizational impact.
• Create, revise, and maintain the systems to monitor progress towards the organization’s strategic goals, priorities, and special projects.
• Utilize both qualitative and quantitative data synthesis to formulate recommended solutions on the right path forward.
• Co-create and refine metrics and outcome measures with Directors and the team that center the needs of clients and community members.
• Collaborate with Communications staff to share impact externally.
• Demonstrate an adaptive mindset with an ability to concurrently see the big picture while focusing on the details.
Team Culture
• Lead initiatives to build relationships and a positive team culture where all team members feel valued and are able to show up as their authentic selves.
• Plan and facilitate weekly team meetings and staff retreat content.
Requirements
The Chief Financial Officer is responsible for the strategic positioning of the finances, liquidity, investments, and available capital at Inclusive Action for the City. The ideal candidate will possess a minimum of 10 years of progressive finance and accounting experience in high growth environments, ideally with a background in banking or finance (preferably within a CDFI or similar organization). Their experience could include roles in project management, strategy, economic development, or consulting. They should bring a minimum of 2 years in a senior leadership role as part of an executive team.
Additionally, they should have a strong understanding of nonprofit accounting, grant management, cost allocation concepts, and other nonprofit accounting practices/standards. Experience managing projects and budgets over $2 million is a plus. A Bachelor’s degree from an accredited four-year university is required. A Certified Public Accountant (CPA) is a plus.
While no single candidate will have every experience listed in the position profile, the ideal candidates will exhibit the following professional and personal qualities, skills, and characteristics:
Passion for Mission
The CFO will demonstrate a passion for Inclusive Action for the City’s mission of economic justice, and supporting underserved communities, with a deep commitment to diversity, equity, and inclusion. They will possess a clear understanding of how their role aligns with the organizational vision and mission and will exemplify personal qualities of integrity, credibility and strong cultural competence.
Strategic & Collaborative Financial Leadership
The ideal candidate for this CFO role will be a strategist who can support organizational growth while maintaining operational and financial sustainability. With excellent strategic, analytical, and problem-solving skills, they will be able to move seamlessly between ground-level operations and high-level strategic thinking as needed. The CFO will provide decision support and a deeper understanding of the financials to the Board of Directors and executive leadership. Adaptable and flexible, they will be able to respond to unexpected challenges, proactively identifying potential risks as well as opportunities for the organization.
The CFO will demonstrate a collaborative leadership style, being a team player and partner to leadership and the Board, able to work closely and effectively with colleagues at all levels. This positive and upbeat leader will have a demonstrated ability to have impact and influence across multiple functional areas (e.g., policy, program management, talent, finance, operations, etc.).
Finance and Accounting Expertise
Self-directed and results-oriented, the Chief Financial Officer will be an experienced leader in the field of finance and accounting with a strong working knowledge of generally accepted accounting principles (GAAP), with non-profit accounting and/or financial accounting preferred. This leader will bring strong skills and experience in financial reporting, budgeting, asset liability management, cost/benefit analysis, financial modeling and forecasting, debt financing/lender relations, treasury, cash flow management, audit/internal controls, and risk management to include an understanding of nonprofit, grassroots, and public sector contract compliance.
The CFO will need to be able to liaise with government officials on billing and invoicing matters and bring expertise in real estate acquisition and modeling, helping the organization manage a portfolio of mixed-use buildings while advising on strategies for tenant ownership and LLC structures. Lastly, they will partner with the lending team to track loan collections and forecast future financial models for the loan fund.
Operational Excellence and Change Management Skills
With excellent organizational and planning skills, the Chief Financial Officer will bring the ability to identify operational pain points and streamline processes while being open to feedback and acting as a thought partner to both the Board and Executive Team. This leader will be skilled in creating and improving financial processes (contract negotiations, loan fund systems, etc.), ensuring the financial interests of the organization are protected and managed effectively. The CFO will ensure the budgeting process and financial reporting is transparent, accurate, and timely. This leader will optimize asset liability management and funding streams, providing thoughtful and informed recommendations and decision support to the Executive Team and the Board.
Excellent Communication & Relationship Building Skills
With excellent listening and verbal communication skills, the Chief Financial Officer will be a grounded and transparent leader who can synthesize complex financial information and present it in a digestible manner to diverse audiences, including the Board, government officials, and external partners. They will have the ability to speak competently about the financials and portfolio health in a way that inspires confidence in the organization.
This individual will bring strong stakeholder management and facilitation skills with the ability to foster strong working relationships internally and externally with executive team members, senior leaders, Board Members, staff, and Inclusive Action’s organizational partners.
Compensation and Benefits
Inclusive Action offers a competitive salary commensurate with experience. The salary range for this position is $165,000 – $205,000 with an expected starting salary of $170,000. The position’s compensation includes full medical, dental, and vision benefits, 14 paid holidays, sick leave, and up to two weeks of paid vacation a year with an opportunity to accrue more after serving two years with the organization.