Nonprofit Finance Fund Director, Charter School Program, Financial Services - Philadelphia, PA in Philadelphia, Pennsylvania
The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
The Director, Charter School Program will play a central role in the growth and expansion of NFF?s financing business nationally and serve as NFF?s charter school market leader. Paramount to this is evaluating NFF?s current approach to charter school lending and developing and implementing a plan to ensure its strategic alignment. Other primary responsibilities of leading this team-based initiative includes: serving as charter school market leader, building and deepening relationships with clients and communities, particularly those led by and serving people of color; identifying market gaps and opportunities in furtherance of mission and strategy; developing a pipeline of viable opportunities and ensuring they are successfully structured, underwritten, and closed; and managing deployment of and raising charter school-related capital that meets the needs of communities.
Qualified candidates will bring substantial experience, knowledge, and relationships in communities of color and the charter school sector. Candidates will be energized by our strategy and have experience supporting community-centered nonprofits led by and serving people of color. The Director, Charter School Program will have a strategic mindset and be a strong communicator and relationship builder with the ability to forge deep community relationships and support organizations as projects and financings move forward, and to work collaboratively with internal partners.
We are seeking candidates who are excited to play a leadership role as we grow and evolve our financing practice so that it is more responsive to the capital needs of communities of color, the organizations that support them, and their leaders. Strong candidates will share our commitment to ensuring communities of color and their leaders have access to and control of the capital they need to meet their goals. They will be energized to join an organization undergoing culture change and eager to be a culture-mover. Their charter school expertise will allow them to hit the ground running and actively engage at the intersection of racial equity, education, and capital. In order to be successful in this role, they must enjoy connecting with and centering the perspective of clients as much as closing deals.
The preference is for the position to be located out of any of NFF?s five offices (Boston, Los Angeles, New York, Oakland, and Philadelphia), but remote locations will be considered as well. Though we are currently working remotely and will not require attendance in any office until Spring 2021 at the earliest.
The Director will report to the Vice President, Lending who is based in New York, NY.
Primary Duties and Responsibilities:
Charter School Market Leader
Interrogates NFF?s current approach to charter school lending and develop and implement a plan to evolve this work to ensure its strategic alignment, including:
Develops a deeper and more nuanced understanding of how the charter school sector addresses/affects racial equity in education and NFF?s role in this system.
Develops a framework to incorporate racial equity analysis into our charter school lending practice, and share learnings across the organization.
Develops a market strategy for our charter school lending that responds to the needs of charter schools, particularly those aligned with our new strategy.
Leads a team of peer staff who will be responsible for the implementation of the market strategy and meeting lending goals.
Identify market gaps and opportunities for NFF to support charter schools rooted in community, particularly those in NFF?s core geographies (NYC, LA, Bay Area, Philadelphia, Memphis, and Washington State), as well as in new expansion areas.
Deepens and maintains strong networks across charter school funders, authorizers, associations, and lending peers.
Serves as NFF?s charter school expert: share knowledge internally and externally, represent NFF on Charter School Lenders Coalition, among other ways.
Builds NFF?s brand among charter school clients and funders.
Leads the development of a pipeline of viable loan opportunities.
Serves as a trusted partner for new and existing charter school clients; lead conversations with charter schools in a way that demonstrates empathy and garners understanding of their financing experiences and needs, and develop financing solutions that reflect these needs.
Supports clients through all stages of the financing process:
Attends early-stage client visits and meetings with lending partners.
Conducts and prepares initial analysis of loan viability, including financing structure, for internal discussion, and issue term sheets to prospective clients.
Underwriting: manages due diligence collection, conduct financial analyses, and organizational and risk assessments.
Synthesizes data and information into accessible written materials; present recommendations that include an analysis and risk assessment of the school and financing request.
Manages closings, including drafting commitment letters and reviewing closing diligence and legal documents for consistency with key business terms.
Liaise with the portfolio management team post-closing to share client developments.
Supports efforts to ensure charter school lending program is adequately capitalized.
Seeks out and pursue opportunities to raise funds to meet the needs of clients, including loan capital and credit enhancement.
Manages NFF?s Department of Education charter school credit enhancement award(s), including:
Deployment of this capital source.
Investor and partner relationships.
Monitoring progress toward meeting goals throughout the year.
Reporting process and administrative duties for this award.
Essential Requirements for Education and/or Experience:
Knowledge of charter school academic, operational, and financial models.
Strategic mindset with the ability to see the big picture and also identify the details.
Ability to manage projects and the team towards common goals and deadlines.
Ability to revamp an existing initiative to better center the needs of clients and communities and/or align with an organization?s strategic direction.
Strong communication and relationship-building skills, experience connecting with and engaging diverse audiences and communities, comfort navigating sensitive conversations, and ability to convey complex topics in accessible ways.
Comfort analyzing nonprofit financial statements to identify trends, understand and tell the story behind the numbers, assess risk.
Demonstrated ability to build a market and brand.
Solutions- and results-oriented with an approach that centers clients.
Comfort with taking initiative for own learning after initial ramp-up and training.
Connector by nature and proactive sharer of new ideas and information.
Likes to travel, get to know new communities, and meet new partners and clients.
Typically, individuals at the Director level have 9-10 years of relevant experience.
Specialized Knowledge/Beneficial Skills and Experience:
Market knowledge and relationships in one or more of NFF?s core lending markets (NYC, LA, Bay Area, Philadelphia, Memphis).
Experience structuring, underwriting, and closing charter school and New Markets Tax Credit (NMTC) transactions.
Project management experience overseeing budgets, goals, staff, and clients.
At NFF, we are invested in discussing the depth and breadth of each candidate?s background and experience during the interview process and using that information to determine the best offer. The salary range for this position begins at $112,000. NFF also provides an attractive benefits package that includes health insurance, retirement plan, paid time off, standard holidays, and commuter benefits.
All salaries are commensurate with experience and include an attractive benefits package.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. Diverse candidates are encouraged to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.