Chief Financial Officer
Los Angeles, California
Inclusive Action for the City is a 501(c)(3) nonprofit organization whose mission is to bring people together to build strong, local economies that uplift low-income urban communities through advocacy and transformative economic development initiatives. Founded in 2008, the organization employs a multi-disciplinary approach to its work, creating spaces for new ideas, compiling research, supporting local entrepreneurs and leaders, and helping other organizations implement their innovations.
Inclusive Action for the City is a Community Development Financial Institution (CDFI) that specializes in lending to micro-businesses in the retail, service, and manufacturing sectors with BIPOC, immigrant, or low-income owners. As of 2023, their team deployed nearly $4,000,000 in micro-loans, with an average loan size of $12,000. They acted as a strong and effective grantor issuing over $3,000,000 in grants serving thousands of entrepreneurs.
Position Overview
The Chief Financial Officer (CFO) will join an exciting, rapidly growing organization. In the last three years, they’ve grown from 9 to 30 staff and tripled their budget to $9M. At this critical juncture, the organization is focusing on financial sustainability, including portfolio diversification and new investment strategies.
This is an opportunity for an innovative financial leader to build out the Finance Department and refine financial systems, processes, and forecasting, as the organization balances funding from private sector banks, foundations, and government sources. On the loan fund side, significant funds flow in and out to support the community, with state guarantees now covering 80% of the loans. This leader will need to have the skills and ability to manage this complex process.
The Chief Financial Officer works closely with the Executive Director and Leadership Team to identify and manage the organization’s finances. This role will be a steward of the organization’s resources and lead its efforts to be a prudent utilizer of grants and investments to further Inclusive Action’s mission, while also developing forecasts that support our Leadership Team’s programmatic priorities.
This role has the expertise, focus, and influence to be a strong accounting and operational leader for the organization. Strong project management and communication skills are a necessity in this role, and the successful candidate will be a proven problem solver who can leverage impact and influence to find clarity in complex and gray situations. They will help lead financial relationships with banks, investors, and funders as appropriate and represent the organization and its priorities in the field. The Chief Financial Officer reports to the Chief Executive Officer and supports the Leadership Team, currently composed of the Vice President of Policy & Legal Strategy, Director of Lending, Director of Operations, and Director of Community Innovation.
This team member will be responsible for:
Financial Planning & Analysis
Lead the management of cash, investments, insurance, budgeting, and financial reporting, and help drive the company’s financial strategy and hiring needs.
Work with Program Directors to efficiently develop budget proposals, provide access to project finance information, and ensure contract/grant compliance and reporting. Collaborate to create Key Performance Indicators that all Directors can use to guide work.
Perform risk management through analysis of company liabilities and investments and evaluate and manage capital structure and fundraising initiatives.
Develop and implement financial strategies, plans, and policies aligned with the organization’s objectives. Provide timely, accurate financial reports to the Leadership Team and Board to assist in performing their responsibilities.
Conduct financial analysis, forecasting, and budgeting to support decision-making processes.
Financial Reporting & Compliance
Prepare accurate and timely financial reports, statements, and disclosures for internal and external stakeholders.
Work with the CEO to lead Board finance committee meetings that showcase the latest organizational financial statements, forecasts, and highlights.
Ensure compliance with accounting standards, tax regulations, and financial laws across all areas of the organization.
Risk Management
Identify and assess financial risks and develop risk mitigation strategies to safeguard the organization’s assets and interests.
Monitor and manage financial exposures, such as currency risks, interest rate risks, and credit risks.
Capital Management
Optimize capital structure and funding strategies to support organizational growth and expansion plans.
Manage relationships with banks, investors, and other financial institutions to secure necessary funding and capital resources.
Financial Operations
Oversee financial operations, including treasury management, cash flow forecasting, and investment management.
Implement financial controls, policies, and procedures to ensure accuracy, transparency, and accountability in financial transactions.
Impact Assessment, Data & Evaluation Systems
Facilitate the Leadership Team’s vision for impact, forecasting, and defining how IAC wants to create change in 5+ years.
Create systems, processes, and tools for and with the Leadership team to dynamically forecast and assess organizational impact.
Create, revise, and maintain the systems to monitor progress towards the organization’s strategic goals, priorities, and special projects.
Utilize both qualitative and quantitative data synthesis to formulate recommended solutions on the right path forward.
Co-create and refine metrics and outcome measures with Directors and the team that center the needs of clients and community members.
Collaborate with Communications staff to share impact externally.
Demonstrate an adaptive mindset with an ability to concurrently see the big picture while focusing on the details.
Team Culture
Lead initiatives to build relationships and a positive team culture where all team members feel valued and are able to show up as their authentic selves.
Plan and facilitate weekly team meetings and staff retreat content
Compensation
Inclusive Action offers a competitive salary commensurate with experience. The salary range for this position is $165,000 - $220,000. The position’s compensation includes full medical, dental, and vision benefits, 18 paid holidays, sick leave, and up to two weeks of paid vacation a year with an opportunity to accrue more after serving two years with the organization.
To Apply
Koya Partners has been exclusively retained for this engagement. Express interest in this role by filling out our Talent Profile or emailing the search team directly at IA_CFO@koyapartners.com. All inquiries and discussions are strictly confidential.
Hybrid Work Schedule
Currently the Inclusive Action team is working in person at the office 40% of the time and remotely 60% of the time. The physical office is located in Boyle Heights and is available for necessary in-person appointments as well as its work space. All applicants are expected to live in Los Angeles County.
Equal Opportunity Employer
Inclusive Action for the City does not discriminate on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factor. Applicants and employees are protected from discrimination under Federal law. For more information, please see EEO is the Law. Inclusive Action for the City hires and promotes individuals solely based on their qualifications for the job to be filled.