|Job Title:||Chief Financial Officer (CFO)||FTE:||Full Time, 37.5 hrs/wk|
|Reports to:||President & CEO||FLSA Designation:||Exempt – Salary|
Urban Land Conservancy (ULC), a nonprofit 501(c)(3), is seeking an entrepreneurial individual to serve in a newly created position known as the Chief Financial Officer (CFO). ULC is a national leader committed to preserving, developing, stewarding, and managing permanently affordable housing and office space for nonprofits and mission-minded organizations in Metro Denver and surrounding communities. ULC has 46 investments to date, totaling $177M that are leveraging an additional $1.2 billion in renovations and development of affordable housing and nonprofit facilities. ULC invites candidates with strong C-level real estate and asset financing, investment management expertise, and operations experience to consider this critical role. The CFO will report directly to the ULC President & CEO and supervise the Director of Accounting and the Vice President of Operations & Sustainability, and work closely with all ULC departments on the strategic deployment of capital, management, and financial operations of our growing nonprofit real estate organization.
DUTIES & RESPONSIBILITIES
Create and manage innovative investment tools for acquisition, development, capital improvements, and operations for ULC’s place-based real estate mission
- Build on relationships with existing lenders, investors, and funders to identify new long-term (take out) investment strategies for existing ULC properties. Work closely with the President, and the Finance, and Asset Departments.
- Green Facility: Establish a take-out and sustainable $25M facility to be used on ULC’s Metro Denver Impact Facility (MDIF) financed properties as well as other ULC investments that require significant sustainability upgrades. Ten-year Term at 2%, interest-only the first three years, 90% LTV.
- Provide direction on strategic financing investments to grow ULC’s sustainability fund for future Net-Zero developments and renovations.
- Work closely with the ULC Leadership Team on new investment, financing, and grant strategies for our place-based mission.
- Create an analytical framework for better assessing ULC’s portfolio, with the goal of expanding permanently affordable housing and nonprofit facilities by 50% over the next three years while growing the community land trust (CLT).
- Manage new investor and lender selections through intensive quantitative and qualitative research processes.
- Provide regular communication to Leadership and the Board regarding changes in regulations, risks, interest rates, portfolio performance, and real estate market factors affecting our mission.
- Recommend real estate financing policies and procedures that provide a basis for management and Board decisions.
- Recommend to Board and staff new financing opportunities that support the mission.
- Oversee necessary reporting and documentation to funding entities to ensure loans and grants maintain compliance.
Oversee the Finance and Operations & Sustainability Departments
- Oversee the VP of Operations & Sustainability’s growth and support long-term capital/net-zero energy projects with creative new sources of financing. Work with the VP of Operations & Sustainability and Director of Property Assets on long-term financing of ULC assets. Build the departments’ knowledge of financing tools.
- Enhance business effectiveness by contributing to short- and long-term organizational financial planning and strategies as a member of the Leadership Team.
- Oversee Finance Department, supporting its annual budgeting, audit, and financial reporting obligations. Build the departments’ knowledge on all ULC financing and investment strategies.
- Provide support, develop and deliver internal management updates/strategy presentations with the Leadership Team. Coordinate decision-making across the departments, specifically on real estate financing, investments, and operations.
- Drive initiatives in the Leadership Team, and organizationally, that contribute to the long-term operational excellence of ULC.
Oversee internal and external partnerships of place-based real estate financing
- Represent ULC as an expert on real estate financing in the communities we work in, building on and growing partnerships and collaborations already established.
- Meet with public officials, the private sector, foundations, and nonprofits to gain support for ULC’s real estate financing strategies.
- Work collaboratively with stakeholders across the real estate industry to understand a broader list of strategic initiatives planned and underway (e.g. National Western redevelopment in Denver).
- Help shape and prioritize investment strategies to ensure alignment over a multi-year road map.
- Develop new external partnerships that expand ULC’s access to below-market capital.
- Be a presenter at conferences relevant to ULC’s work.
- Special Projects / Strategic Initiatives – Lead planning for critical real estate financing events (e.g., lender breakfasts, town halls, Board meetings).
KNOWLEDGE, SKLLS, ABILITIES, & VALUES
A successful candidate will, at a minimum, possess the following:
- Expert-level working knowledge of real estate finance, asset classes, and various investment products germane to ULC
- Expert-level working knowledge of nonprofit accounting, financial audits, and GAAP
- Expert-level skills in planning, problem-solving, and decision-making
- Expert-level skills in leadership, communication, strategy, and organization
- Expert-level skills in developing lending relationships on a local, regional, and national scale
- Expert-level skills in convening like-minded, mission-based partners that align with ULC goals
- Expert-level ability in managing the full spectrum of real estate financing, fixed-income, and alternative strategies for ULC
- Expert-level ability in clearly communicating complex financial matters to staff, Board, and the public
- Expert-level ability in representing ULC to the public, media, and external partners
- Expert-level ability in working both independently and as part of a team
- Ability to be insured by ULC’s insurance policy to operate a vehicle for company business
- Alignment with ULC values concerning the importance of diversity, equity, inclusion and ULC’s commitment to maintaining an anti-racist workplace
- Alignment with ULC values relating to the importance of environmental stewardship and sustainability
- Alignment with ULC values relating to the importance of protecting public health
PHYSICAL DEMANDS AND WORK ENVIRONMENT
This position may require:
- Frequently required to be in a stationary position during scheduled work hours
- Frequently required to conduct duties in a typical office environment
- Frequently required to operate office equipment: computer, copy machine, etc.
- Must be able to attend and participate in evening and weekend meetings, networking events, conferences, and speaking engagements
A combination of education and experience may be considered.
- Bachelor’s degree in real estate, business administration, finance, or related field required
- Master’s degree in business administration or related field preferred
- Ten years of management experience in real estate finance, portfolio investment, or similar work
- Eight years of experience in finance and accounting
- Five years of experience in leading a real estate investment team
- Experience in creating and managing a $10MM+ loan fund
- Community development, organizing, nonprofit, social justice, or social enterprise experience is preferred
- Must pass reference and background checks
- Must have a valid driver’s license, reliable transportation, and be insurable
- Must be punctual, reliable, and demonstrate a good work ethic
- Must share ULC’s commitment to racial equity
- Must be fully-vaccinated against COVID-19
- Salary range is $150,000-$180,000 per year and is commensurate with depth of experience and overall qualifications
- 37.5-hour work week with options for flex work schedules
- Bi-weekly pay
- Additional Benefits:
- Health Insurance – two plans available, with employee contribution
- Dental and Vision insurance, 100% paid by employer
- Life, AD&D, Short- and Long-term disability insurance
- 401(k) after six months; 7% employer contribution (no match required)
- Nine paid holidays
Please send a cover letter, resume, and recent employment references to HRApplications@urbanlandc.org
This posting will be open until filled.
The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Equal Opportunity Employer:
At Urban Land Conservancy, we are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants and staff without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by applicable law. Urban Land Conservancy believes that diversity and inclusion among our team is critical to our success, and all employees share in the responsibility for fulfilling our commitment to equal employment opportunity.