TU Foundation Vice President and Chief Financial Officer

$175,000 - $200,000/Yr

Towson University - Towson, MD

Full-time - Senior

Towson, MD

Educational Services

About the position

The Towson University Foundation is seeking a Vice President and Chief Financial Officer (VP/CFO) to provide strategic leadership and operational excellence. This role is crucial for supporting long-term planning, fostering organizational growth, and ensuring alignment with the Foundation's values. The VP/CFO will oversee a team, manage financial operations, and collaborate with university leaders to enhance the Foundation's mission of supporting Towson University through effective fundraising and financial stewardship.

Responsibilities

• Collaborate with the Executive Vice President and the Foundation Board of Directors to develop and execute the Foundation's strategic plan.
• Lead the operational planning process to align Foundation resources with strategic priorities and goals.
• Provide leadership and guidance in organizational development, creating a positive and high-performance work culture.
• Provide regular updates and reports to University Leadership and Board of Directors on operational performance, challenges, and opportunities.
• Collaborate with the EVP to support board development, ensuring the board is well-informed and engaged in the Foundation's mission and activities.
• Serve as a key point of contact for key stakeholders, including donors, partners, and vendors, fostering strong relationships and enhancing the Foundation's reputation.
• Prepare for and attend board and committee meetings, including quarterly budget reports on Foundation operations.
• Serve as the staff liaison to various committees of the Foundation Board as assigned, including Budget, Finance, and Operations; Investment and Spending; and Executive Committees.
• Partner with the EVP and Foundation Treasurer to manage the Foundation's finances, ensuring financial health and long-term sustainability.
• Oversee the development and management of the Foundation's annual budget, ensuring transparency, accountability, and alignment with the organization's priorities.
• Ensure financial reporting and forecasting meet the needs of internal and external stakeholders, including the University President and CFO, the EVP, the Foundation's Board of Directors, and donors.
• Identify and mitigate financial risks, ensuring compliance with legal, regulatory, and audit requirements.
• Provide quarterly reports regarding investment decisions and returns, in conjunction with the Investment and Spending Committee Chair.
• Calculate annual Endowment Spendable Income in accordance with Board approved policy, for presentation and review of the Investment and Spending Committee, and for ultimate approval by the Board of Directors.
• Lead budgeting and financial management processes, ensuring that resources are effectively allocated and aligned with the foundation's mission and goals.
• Ensure compliance with all regulatory, financial, and legal requirements, fostering an ethical and accountable operational framework.
• Maintain strong vendor and partner relationships, negotiating contracts and managing service agreements to ensure quality and cost-effectiveness.
• Prepare annual reports to include Foundation financials and operational and program achievements.
• Complete and file all necessary tax documents annually, including charitable registries, IRS Form 990, and IRS Form 5500.
• Oversee all aspects related to the annual audit of the Foundation's financial statements.
• Prepare for and participate in periodic internal control audits performed by the University System of Maryland (USM).
• Compile data and complete annual compliance reports required by the University System of Maryland as outlined in the Board of Regents Policy on Affiliated Philanthropic Support Foundations.
• Maintain and implement all Board approved policies and procedures, communicate said policies and procedures to the appropriate University personnel and provide guidance, where necessary, to ensure compliance.
• Oversee the Foundation's human resources strategy, ensuring alignment with organizational values, culture, and strategic goals.
• Provide leadership on workforce planning, talent acquisition, retention, and professional development to foster a high-performing, engaged, and inclusive workplace.
• Implement practices that promote diversity, equity, and inclusion across the Foundation's operations and programs.
• Serve as a mentor and coach to staff, building leadership capabilities within the organization.

Requirements

• Bachelor's degree in business administration, nonprofit management, public administration, or a related field.
• A minimum of 10 years of progressively responsible experience with 5+ years of senior leadership, preferably within a foundation, nonprofit, or philanthropic organization.
• Thorough knowledge of U.S. Generally Accepted Accounting Principles (GAAP).
• Advanced Microsoft Excel skills.
• Excellent communication and interpersonal skills, with the ability to engage and inspire staff, board members, and external partners.
• Strong decision-making and problem-solving skills, with the ability to navigate complex operational challenges.
• Proven ability to lead high-performing teams and foster a positive organizational culture.
• Mission-driven and aligned with the values and vision of the Foundation.
• Collaborative, innovative, and forward-thinking.
• Highly organized and detail-oriented, with the ability to manage multiple priorities in a fast-paced environment.
• Adaptable and flexible, with a solutions-oriented approach to leadership.

Nice-to-haves

• A CPA or MBA
• Experience with Non-Profit financial systems (Blackbaud Financial Edge NXT and Blackbaud Award Management)

Benefits

• Targeted Hiring Range is $175k - $200k
• 22 days of annual leave
• Up to 15 holidays
• Personal and sick days
• Excellent health, life, and retirement plans
• Tuition remission
• Variety of great perks and discounts