Noetic Search, LLC
Director of Finance and Administration, The William G. McGowan Charitable Fund
Noetic Search, LLC, Chicago, Illinois, United States, 60290
BACKGROUND
Working in five communities, the McGowan Fund empowers families and individuals living in poverty to achieve their greatest potential. Across the nation, the McGowan Fund supports the resurgence of ethics in business and community life.
The Fund gives priority to programs that have demonstrated success, have measurable outcomes and plans for sustainability, and aim to end cycles of poverty and suffering. The Fund strives to be a problem-solving organization creating opportunities for sustainable change for program participants.
The William G. McGowan Charitable Fund is a private (family) grant-making foundation established in 1993. Programs are supported in five geographic regions of the country including Chicago, Kansas City, KS & MO, Lackawanna & Luzerne Counties in PA, Rochester and Penn Yan, NY, Denver and Eagle County, CO. The current endowment is over $200 million and, in 2023, approximately 60 grants were awarded ranging in size from $10,000 to over $1 million with an average grant of $80,000. Grant awards are made in K-12 education, health access, human services with a focus on pathways to safe housing, healthy food and a living wage.
The Fund is guided in all endeavors by six principles: accountability, character and integrity, courage, empathy, resilience, and self-awareness.
The Fund is governed by an engaged Board of Directors comprised of family members. Grants are made by the Board three times a year. In 2023, grant making reached approximately $7,000,000. The fiscal year is July 1 to June 30. Last year’s operating budget was approximately $2.8M. McGowan Fund employs 6 full-time staff.
OPPORTUNITY
The McGowan Fund is seeking a Director of Finance and Administration (“DFA”) to collaborate closely with the Fund’s leadership. This pivotal role offers a unique opportunity to be a strategic partner in philanthropy while contributing to a culture of excellence and collaboration.
The DFA will serve as a key advisor working closely with the Executive Director, Board President and Board Treasurer to build and manage the operating budget, ensuring alignment with strategic goals. The Treasurer’s strong financial expertise will provide invaluable support and guidance. The role will be central to guiding financial strategy and operations, leveraging the Board's extensive financial acumen.
The DFA will engage in weekly meetings with the Treasurer and partner with the Executive Director to build the budget reviewed and approved by the Board of Directors. The McGowan Fund is managed in a fiscally constrained fashion, consistent with comparably resourced foundations.
The DFA will be a part of developing a forward-looking strategy that supports program activities and operational efficiency. The role will be a key driver in continuing to build a dynamic, positive internal culture of collaboration.
This is an exceptional opportunity for a curious, adaptable, and relationship-oriented finance professional. The DFA will make a significant impact and be a key player in shaping the future of McGowan Fund’s philanthropic efforts.
THE POSITION
Reporting to the Executive Director, the DFA is the top financial and administrative position with responsibility for overall financial management, general operations, and several human resources functions. The DFA facilitates work with audit, tax, benefits and financial services providers and investment oversight consultants. The McGowan Fund has approximately 50 investments in over 20 asset classes. The DFA seeks to minimize financial risk to the McGowan Fund and ensure that financial transactions, policies, and procedures meet the Fund’s short and long-term objectives, needs and regulatory requirements.
The DFA works closely with the Executive Director and the Board of Directors to support their fiduciary responsibilities. This includes, in partnership with the Executive Director, providing leadership, promoting teamwork and collaboration. Working through the Executive Director, the DFA will seek to achieve effective utilization, develop quality goals and objectives, and analyze data to develop and support management decisions. The DFA will be a trusted partner and resource to the Board of Directors and staff of the Fund.
The DFA is responsible for promoting integrity in all matters relating to fiscal operations, and human resources. Management of external vendors is another essential component of the job. The DFA will be the principal liaison with banks, investment consultants, and auditors.
RESPONSIBILITIES
Financial Management (40%):
Accounting Operations:
Record all QuickBooks transactions, including bill payments, check issuance, and credit card bank reconciliations.
Reporting:
Generate & submit monthly cash-basis and quarterly accrual-based financial reports to ED, President, & Treasurer.
Liaison Duties:
Serve as primary contact with banks and credit card companies.
Audit & Compliance:
Oversee financial reviews/audits, complete schedules for tax and audit firms, prepare 1099-NEC forms. Ensure compliance with tax filing deadlines and quarterly payments.
Budget Management:
Collaborate with the President to draft and monitor the annual budget, including tracking expenses, cash flow, & compliance with 5% payout and excise tax requirements.
Grants Management:
Reconcile grants management system with accounting records for accuracy and transparency.
Transparency:
Guarantee clear, accurate, & complete financial reporting.
Investments (50%):
Accounting:
Ensure that investments are accurately recorded and reconciled.
Liaison:
Coordinate with custodian bank and manage trade execution.
Documentation:
Prepare and submit execution documentation for trades approved by the Investment Committee.
Capital Management:
Ensure that capital calls are processed timely, manage cash flow between custodial accounts.
Oversight:
Take minutes for Investment Committee meetings, verify investment reports against accounting data.
Reporting:
Create quarterly reports on unfunded commitments for Private Equities and prepare weekly cash activity, capital call, and commitment reports for Treasurer review.
Expense Review:
Review expense reimbursement forms for ED approval.
Human Resources Management (10%):
Payroll:
Draft bi-monthly payroll via ADP.
PTO Tracking:
Maintain records of annual PTO vacation and sick leave.
Benefits Administration:
Manage life, ADD, and vision insurance; support medical and dental insurance in compliance audits.
Retirement Plan:
Administer the 403(b) plan and file ERISA 5500 forms.
Compliance & Support:
Complete workers’ compensation audits and assist staff with payroll and benefits inquiries.
CANDIDATE PROFILE
We seek a proven financial and operational strategist who has a successful track record of building strong internal controls, fiscal integrity and exceptional interpersonal and management skills. The person we seek will demonstrate a commitment to the principles, goals and work of the McGowan Fund. A balance between management acumen and creative thinking as well as the ability to assess and maintain policies, procedures and systems is sought. The successful candidate will have exemplary analytical skills and will excel in financial planning, managing investment portfolio, effective communication and the judgment to determine the best courses of action. Experience in budget and cashflow modeling, liquidity analysis and private equity interface with capital calls is needed.
The ideal candidate must be a multi-tasker with the ability to identify and leverage resources, identify fiscal and operational best practices and implement accordingly. This person will be able to roll up their sleeves and quickly toggle between oversight of routine accounting functions to high level investment strategy and everything in between. The successful candidate assesses the organization’s financial risk and potential exposure. Utilizing data to inform decision-making and communicate financial data to others who may lack a finance background is required.
We seek a strategic thinker, analytical and imaginative problem solver with an open style of communication. The ideal candidate will foster a culture of ethics and will utilize change management principles. A track record in establishing relationships marked by trust, respect and integrity is needed. Excellent organizational, negotiation and presentation skills, written and verbal communication skills are necessary. The ideal candidate will be a tenacious, positive team player with demonstrated success moving projects forward. The selected candidate will actively participate in appropriate professional organizations and networks.
The person we seek will have high standards for planning, accountability, controls, timeliness, reporting and accuracy. Experience with accrual, cash based and fund accounting as well as American Depository Receipt (Equity and Private Equity) with tax return preparation is required. Commercial banking experience with depository (peg balances) accounts, ACH (PPD & CCD), wires and credit card reconciliation is also necessary.
Understanding of IRS regulations related to foundations, philanthropic practices, and non-profit law is desired. Previous experience and responsibility for investment management, budgets and forecasts, financial reporting, financial analysis, cash management and tax compliance required.
MBA or master’s degree in finance, or other business-related field desired; active CPA required. The qualified candidate will have ten or more years of experience in accounting/finance/investment experience in a leadership role. Previous hands-on experience with accounting systems is required, QuickBooks a plus. A general understanding of geopolitical, monetary and fiscal policy is desired. The Foundation’s staff are currently working in a hybrid office with 3 days (Tuesday, Wednesday and Thursday) in the office and 2 days remote.
Compensation:
$150,000 - $175,000 comprehensive benefits.
The William G. McGowan Fund is an equal employment opportunity employer.
#J-18808-Ljbffr
Working in five communities, the McGowan Fund empowers families and individuals living in poverty to achieve their greatest potential. Across the nation, the McGowan Fund supports the resurgence of ethics in business and community life.
The Fund gives priority to programs that have demonstrated success, have measurable outcomes and plans for sustainability, and aim to end cycles of poverty and suffering. The Fund strives to be a problem-solving organization creating opportunities for sustainable change for program participants.
The William G. McGowan Charitable Fund is a private (family) grant-making foundation established in 1993. Programs are supported in five geographic regions of the country including Chicago, Kansas City, KS & MO, Lackawanna & Luzerne Counties in PA, Rochester and Penn Yan, NY, Denver and Eagle County, CO. The current endowment is over $200 million and, in 2023, approximately 60 grants were awarded ranging in size from $10,000 to over $1 million with an average grant of $80,000. Grant awards are made in K-12 education, health access, human services with a focus on pathways to safe housing, healthy food and a living wage.
The Fund is guided in all endeavors by six principles: accountability, character and integrity, courage, empathy, resilience, and self-awareness.
The Fund is governed by an engaged Board of Directors comprised of family members. Grants are made by the Board three times a year. In 2023, grant making reached approximately $7,000,000. The fiscal year is July 1 to June 30. Last year’s operating budget was approximately $2.8M. McGowan Fund employs 6 full-time staff.
OPPORTUNITY
The McGowan Fund is seeking a Director of Finance and Administration (“DFA”) to collaborate closely with the Fund’s leadership. This pivotal role offers a unique opportunity to be a strategic partner in philanthropy while contributing to a culture of excellence and collaboration.
The DFA will serve as a key advisor working closely with the Executive Director, Board President and Board Treasurer to build and manage the operating budget, ensuring alignment with strategic goals. The Treasurer’s strong financial expertise will provide invaluable support and guidance. The role will be central to guiding financial strategy and operations, leveraging the Board's extensive financial acumen.
The DFA will engage in weekly meetings with the Treasurer and partner with the Executive Director to build the budget reviewed and approved by the Board of Directors. The McGowan Fund is managed in a fiscally constrained fashion, consistent with comparably resourced foundations.
The DFA will be a part of developing a forward-looking strategy that supports program activities and operational efficiency. The role will be a key driver in continuing to build a dynamic, positive internal culture of collaboration.
This is an exceptional opportunity for a curious, adaptable, and relationship-oriented finance professional. The DFA will make a significant impact and be a key player in shaping the future of McGowan Fund’s philanthropic efforts.
THE POSITION
Reporting to the Executive Director, the DFA is the top financial and administrative position with responsibility for overall financial management, general operations, and several human resources functions. The DFA facilitates work with audit, tax, benefits and financial services providers and investment oversight consultants. The McGowan Fund has approximately 50 investments in over 20 asset classes. The DFA seeks to minimize financial risk to the McGowan Fund and ensure that financial transactions, policies, and procedures meet the Fund’s short and long-term objectives, needs and regulatory requirements.
The DFA works closely with the Executive Director and the Board of Directors to support their fiduciary responsibilities. This includes, in partnership with the Executive Director, providing leadership, promoting teamwork and collaboration. Working through the Executive Director, the DFA will seek to achieve effective utilization, develop quality goals and objectives, and analyze data to develop and support management decisions. The DFA will be a trusted partner and resource to the Board of Directors and staff of the Fund.
The DFA is responsible for promoting integrity in all matters relating to fiscal operations, and human resources. Management of external vendors is another essential component of the job. The DFA will be the principal liaison with banks, investment consultants, and auditors.
RESPONSIBILITIES
Financial Management (40%):
Accounting Operations:
Record all QuickBooks transactions, including bill payments, check issuance, and credit card bank reconciliations.
Reporting:
Generate & submit monthly cash-basis and quarterly accrual-based financial reports to ED, President, & Treasurer.
Liaison Duties:
Serve as primary contact with banks and credit card companies.
Audit & Compliance:
Oversee financial reviews/audits, complete schedules for tax and audit firms, prepare 1099-NEC forms. Ensure compliance with tax filing deadlines and quarterly payments.
Budget Management:
Collaborate with the President to draft and monitor the annual budget, including tracking expenses, cash flow, & compliance with 5% payout and excise tax requirements.
Grants Management:
Reconcile grants management system with accounting records for accuracy and transparency.
Transparency:
Guarantee clear, accurate, & complete financial reporting.
Investments (50%):
Accounting:
Ensure that investments are accurately recorded and reconciled.
Liaison:
Coordinate with custodian bank and manage trade execution.
Documentation:
Prepare and submit execution documentation for trades approved by the Investment Committee.
Capital Management:
Ensure that capital calls are processed timely, manage cash flow between custodial accounts.
Oversight:
Take minutes for Investment Committee meetings, verify investment reports against accounting data.
Reporting:
Create quarterly reports on unfunded commitments for Private Equities and prepare weekly cash activity, capital call, and commitment reports for Treasurer review.
Expense Review:
Review expense reimbursement forms for ED approval.
Human Resources Management (10%):
Payroll:
Draft bi-monthly payroll via ADP.
PTO Tracking:
Maintain records of annual PTO vacation and sick leave.
Benefits Administration:
Manage life, ADD, and vision insurance; support medical and dental insurance in compliance audits.
Retirement Plan:
Administer the 403(b) plan and file ERISA 5500 forms.
Compliance & Support:
Complete workers’ compensation audits and assist staff with payroll and benefits inquiries.
CANDIDATE PROFILE
We seek a proven financial and operational strategist who has a successful track record of building strong internal controls, fiscal integrity and exceptional interpersonal and management skills. The person we seek will demonstrate a commitment to the principles, goals and work of the McGowan Fund. A balance between management acumen and creative thinking as well as the ability to assess and maintain policies, procedures and systems is sought. The successful candidate will have exemplary analytical skills and will excel in financial planning, managing investment portfolio, effective communication and the judgment to determine the best courses of action. Experience in budget and cashflow modeling, liquidity analysis and private equity interface with capital calls is needed.
The ideal candidate must be a multi-tasker with the ability to identify and leverage resources, identify fiscal and operational best practices and implement accordingly. This person will be able to roll up their sleeves and quickly toggle between oversight of routine accounting functions to high level investment strategy and everything in between. The successful candidate assesses the organization’s financial risk and potential exposure. Utilizing data to inform decision-making and communicate financial data to others who may lack a finance background is required.
We seek a strategic thinker, analytical and imaginative problem solver with an open style of communication. The ideal candidate will foster a culture of ethics and will utilize change management principles. A track record in establishing relationships marked by trust, respect and integrity is needed. Excellent organizational, negotiation and presentation skills, written and verbal communication skills are necessary. The ideal candidate will be a tenacious, positive team player with demonstrated success moving projects forward. The selected candidate will actively participate in appropriate professional organizations and networks.
The person we seek will have high standards for planning, accountability, controls, timeliness, reporting and accuracy. Experience with accrual, cash based and fund accounting as well as American Depository Receipt (Equity and Private Equity) with tax return preparation is required. Commercial banking experience with depository (peg balances) accounts, ACH (PPD & CCD), wires and credit card reconciliation is also necessary.
Understanding of IRS regulations related to foundations, philanthropic practices, and non-profit law is desired. Previous experience and responsibility for investment management, budgets and forecasts, financial reporting, financial analysis, cash management and tax compliance required.
MBA or master’s degree in finance, or other business-related field desired; active CPA required. The qualified candidate will have ten or more years of experience in accounting/finance/investment experience in a leadership role. Previous hands-on experience with accounting systems is required, QuickBooks a plus. A general understanding of geopolitical, monetary and fiscal policy is desired. The Foundation’s staff are currently working in a hybrid office with 3 days (Tuesday, Wednesday and Thursday) in the office and 2 days remote.
Compensation:
$150,000 - $175,000 comprehensive benefits.
The William G. McGowan Fund is an equal employment opportunity employer.
#J-18808-Ljbffr