President & Chief Executive Officer

• The Development Loan Fund: GMHF operates a $140M Development Loan Fund to support the financing needs of non-profit and for-profit developers. Financing activities include loans for pre-development, acquisition, construction, bridge, mezzanine and first mortgage financing. Annually, GMHF’s loan fund provides financing of $50 to $80 million and raises additional debt and equity to meet the growing need for low-cost capital.
• Minnesota Equity Fund: GMHF owns and operates the Minnesota Equity Fund (MEF), a Low-Income Housing Tax Credit (LIHTC) financing vehicle. Minnesota Equity Fund typically invests $30 million annually to address current demand and will expand to deliver $50 million annually by 2025.
• NOAH Impact Fund: GMHF operates and manages the NOAH Impact Fund as well as its subsidiaries NOAH Pool I & NOAH Pool II, for the acquisition and preservation of naturally occurring affordable housing (NOAH) in the Twin Cities metro area. The NOAH Impact Fund provides financing of $10 to $15 million per year and is now fully invested in NOAH properties with over 700 units under ownership and management.

GMHF is certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI), holds a high Aeris rating of “4-Stars, AA, Policy Plus”, and is a member of the Federal Home Loan Bank (FHLB) of Des Moines. GMHF utilizes FHLB capital to manage its lending needs.

We value an organizational culture built on collaboration and mutual accountability. We work in close partnership with other housing and community organizations and public officials throughout Minnesota.

This organization believes racial equity in housing is needed to correct historical racial disparities. Access to affordable housing improves life outcomes of individuals and families in areas of health, employment, educational attainment, income, and intergenerational wealth. We believe equitable access to safe and affordable housing is critical to creating greater opportunity in housing, health, employment, and income. GMHF is committed to investing in emerging market communities to create more equitable access to ownership of housing and other property. Additionally, GMHF works to reduce racial disparities in the affordable housing industry through programs such as our Emerging Developers of Color Program.

Greater Minnesota Housing Fund is committed to employing a diverse workforce. Qualified applicants will receive consideration without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, gender expression, veteran status, or disability.

For more information, visit the website at https://gmhf.com/

What makes GMHF truly unique is the bridges we build between government and philanthropy. With our strong balance sheet and supportive partnerships, we can take risks and find synergies among unlikely collaborators, bringing together purpose-driven teams that change the housing world. Together, we deliver real results for people struggling with housing insecurity across urban and rural landscapes. We believe that everyone does better when everyone has a safe place to call home.

Since 1996, GMHF has thrived under the vision and leadership of founding CEO Warren Hanson. With Warren’s retirement, the board seeks to build on this extraordinary foundation and grow the organization in new directions. The GMHF board believes that current economic and political conditions, combined with exciting new ideas in the field, offer tremendous prospects to bring us closer to the dream of housing equity. We seek a leader unafraid to seize this moment; to identify new solutions, build dynamic collaborations, and realize a brighter future for all. Our new CEO will continue our progress toward our goal of a more diverse, equitable, inclusive, and accessible housing sector. Finally, we seek someone who will nurture our diverse team of passionate, thoughtful, committed GMHF employees.

Leadership and Management

The President & CEO is responsible for the overall management of the organization including:

• leading an interdisciplinary team of senior-level personnel and performing the functions of community relations, strategic planning, fundraising and capital formation, annual and multi-year budgeting, fiscal management, and creation and maintenance of internal systems and procedures;
• delegating responsibility as needed and holding members of the staff and contract personnel accountable for their specific areas of responsibility;
• guiding the affairs of the organization in a way that creates a dynamic and continuously improving organization, able to consistently serve the evolving needs of Greater Minnesota, and promote diversity, equity, inclusion, and access for all Minnesotans.

Vision and Planning

The President & CEO is responsible for providing direction to the organization including:

• proactively identify strategically important affordable housing opportunities;
• optimize impact on the most important and timely affordable housing needs;
• advance innovation and conduct research on effective capital markets strategies, replicable models, and fund design;
• create a work environment that promotes continual learning, innovation, responsiveness;
• lead strategic planning and develop annual work plans;
• identify and build strategic partnerships with supporters of local/regional housing initiatives;
• advance the goals of diversity, equity, inclusion, and access, both within the organization and throughout the industry .

External Representation

The President & CEO is the organization’s primary spokesperson and representative, serving as liaison to various sectors of the community, including business, non-profit, philanthropic and government. They develop and maintain effective partnerships with public agencies, builders and developers, financial institutions, community leaders, local units of government, and elected officials.

 Board of Directors Relations

The President & CEO is accountable to the board of directors for the operation and management of the organization. They are the primary liaison to the board of directors, responsible for ensuring adequate support to the board to make and maintain policy, determine appropriate allocation of resources, engage in strategic planning and the design of effective programs, and otherwise govern effectively. They engage the board early and fully on new directions, lines of business, markets, initiatives, programs, acquisitions, and other opportunities. They keep the board informed on matters of budget, finance and the significant legal affairs of the organization.

• development finance and innovative financing techniques;
• real estate development, project management, community planning, and community building;
• fundraising and capital formation;
• public policy.

The President & CEO must have significant senior management experience within complex businesses, non-profit organizations, or public agencies, and a demonstrated ability to build and manage a highly productive team. They must have a grounded understanding of the entirety of the Minnesota housing landscape including, and especially, rural markets. They must have a proven record of serving as an effective thought leader and visionary in the public realm, have passion for the agency’s mission, and be able to convey the vision and purpose of the organization to a diverse group of external audiences.

The President & CEO must present a solid, business-like image and command respect within the business, financial, and nonprofit communities. They must be an effective public speaker and possess excellent writing skills. A master’s degree in a related field is preferred.

Personal Qualifications

• Progressively responsible positions of leadership and management in government, non-profit, or business organizations.
• Visionary leader, able to bring imagination and wisdom as problems and opportunities arise.
• A passion for working in community development, housing, and public policy.
• A commitment to social justice.
• Highly effective interpersonal and relationship-building skills.
• Strong analytical, organizational, and problem-solving capabilities.
• High energy, highly focused, and productive.
• Comfortable working in a developing, changing, evolving organization.
• High tolerance for ambiguity, an ability to concentrate on multiple priorities simultaneously, ability to shift priorities to accommodate changing demands. Nimble.
• High degree of comfort with an iterative process, comfortable with collaborative work, and able to accept feedback.
• Excellent communication skills (verbal, written, presentation); ability to write clearly and concisely.
• Ability to convey complex financial, community development and real estate development processes to non-technical audiences.
• Highly ethical, honest, trustworthy, respectful, and loyal to the organization.
• Master’s degree in public, business or non-profit administration, city and regional planning preferred.