Career Opportunity

Housing Assistance Corporation seeks a finance professional with nonprofit housing expertise to serve as its Chief Financial Officer (CFO). The ideal candidate will have at least 5 years of proven leadership in a senior financial role in a nonprofit organization, with a minimum of 4 years of supervisory experience in a management position.

Mission: Housing Assistance Corporation (HAC) is a non-profit organization committed to providing safe and affordable housing for persons of limited income living in Henderson County, North Carolina, and surrounding areas. HAC believes every human being deserves the opportunity to live in a decent home.

Reporting Structure: The CFO reports to the CEO and supervises an Assistant Director of Finance and a Program Accountant.

Total Staff & Budget: 29 staff members and an annual budget of $10M.

Salary & Benefits: The salary for this position is $95,000. Benefits include group health (100% employee premiums/50% dependent premiums), dental, vision and life insurance as well as short and long-term disability insurance. In addition, HAC offers a 3% matching contribution annually towards a retirement plan, 15 days of vacation, 2 personal days, 10 sick days and 12 paid holidays.

Working Environment/Location: In Office/Hendersonville, NC

Key Responsibilities of the CFO

The CFO is a member of the executive leadership team with overall responsibility for the financial strategy of the organization. Working as a collaborative leader, the CFO manages and reports on all fiscal and fiduciary affairs of the organization, including reporting to investors, lenders, grantors, and government agencies; cash and investment management; budgeting and forecasting; and managing the day-to-day operations of the accounting department with the support of the Program Accountant and the Assistant Director of Finance.

Organizational Strategy:

• Together with the CEO and executive leadership team, develop the strategy to ensure the organization has the capacity and financial resources needed to achieve its current and future goals, while mitigating financial and operational risk
• Serve as a key advisor to the Board of Directors, and convener of the Finance Committee
• Ensure accurate grant budgeting, cost allocation, revenue recognition, reimbursement requests, and financial reporting
• Supervise the Program Accountant on managing project budgets for single family housing and tracking payments for all programs
• Supervise the Assistant Director of Finance on day-to-day operations including month and year end close, accounts receivable and payable, financial reports, payroll, invoicing, cash receipts, and disbursements
• Develop and maintain effective working relationships with key financial partners including funders, investors, partners, government agencies, consultants, and vendors

Financial Management & Reporting:

• Oversee organizational budgeting, accounting, and cash management to ensure accurate reporting, interpretation, and analysis of financial results in conjunction with forecasts and long-range plans
• Ensure the integrity, accuracy, and timeliness of all financial records and reports in accordance with GAAP and nonprofit best practices including strong internal controls, risk management practices, and financial governance across the organization
• Oversee and support the preparation of the annual consolidated corporate single audit (for state and federal grant funding) and tax returns
• Complete timely financial statements and reports on transactions and/or information requests
• Oversee payroll and benefit administration
• Manage and monitor the organization’s cash flow and real estate development capital needs

Budgeting, Planning, & Organizational Finance

• Play a lead role in the development, monitoring, and long-term planning of the organization’s operating and program budgets
• Partner with program, construction, rehab, and development teams to ensure sound financial planning, cost control, and financial accountability across all initiatives
• Oversee financial management of construction, infrastructure, and housing development projects in coordination with project leadership
• Provide high-level financial analysis, scenario modeling, and decision support to leadership and the board as needed

Real Estate Development & Asset Management:

• Work collaboratively with the CEO and the leadership team to review potential acquisitions, debt, equity and public subsidy proposals and partnership/operating agreements
• Work with the Private Placement Memorandum (PPM) to manage multi-family properties and make decisions with respect to asset management
• Review key legal agreements, including mortgages, loan documents, subordination agreement and guarantees as part of a financing and construction loan closing that may involve Low Income Housing Tax Credits, Historic Tax Credits, bond financing, public subsidies, and contracts, and/or private debt
• Work closely with leadership to prepare and issue funding requisitions for all real estate development projects under construction
• Ensure that equity draws, project cost certifications and other specialized reporting to investors and government agencies are completed accurately and timely
• Work with leadership to review and analyze performance indicators and forecasts of the organization’s rental housing portfolio
• Work with several Low-Income Tax Credit investors and lenders as they monitor operating performance and compliance of the affordable housing portfolio
• Review loans and investments and manage a revolving loan fund for real estate development activities as needed

Board & Committees:

• Attend all Board of Directors meetings
• Coordinate activities of the Finance Committee including developing agendas and providing reports on financial, investment and organizational performance and projections and other information to committee members in a well-organized, accurate and timely fashion

The Ideal Candidate Profile

The ideal candidate will possess the following qualifications:

• Bachelor’s degree and at least five years of senior financial leadership experience in a nonprofit; CPA and affordable housing or real estate knowledge preferred
• Demonstrated ability to think strategically, with a thorough understanding of strategic development
• Strong understanding of, and extensive professional experience, with:
  • Accounting/GAAP principles, particularly for nonprofit organizations
  • Tax requirements for nonprofit organizations
  • Budgeting and forecasting
  • Financial statement preparation and reporting
  • Cash flow management
  • Account reconciliations
  • Accounts payable
  • Banking services
  • Investment oversight
  • Risk management
  • Financial modeling and forecasting
• Strong interpersonal skills required to relate to partners, government leaders, volunteers, and colleagues
• Ability to work well in a collaborative environment
• Must be self-motivated, results oriented, and able to set priorities and work on numerous projects simultaneously
• Excellent organizational communication (both verbal and written), analytical and negotiating skills
• Highly proficient with computer skills and knowledge in Excel, QuickBooks, and other finance software
• Significant experience with federal, state, and private grants management, compliance, and audit processes
• Demonstrated leadership in financial management, internal controls, and organizational finance operations
• Proven ability to lead teams, manage complex financial operations, and partner effectively with senior leadership

About Housing Assistance Corporation

HAC strives to make a difference in the lives of the Henderson, Polk, and Transylvania County communities by building new construction projects designed to put families into homes that they might not otherwise be able to manage. They also enhance the community by providing home repairs for people with disabilities and the aging. HAC is committed to providing safe and affordable housing for persons of limited income living in Henderson, Polk, and Transylvania Counties because they believe every human being deserves the opportunity to live in a decent home. Founded in 1988 by members of Trinity Presbyterian Church, HAC began to develop single and multi-family housing. In 2004, HAC became a grantee of the North Carolina Community Development Initiative. Since joining the initiative, they have diversified and increased multifamily housing production and single-family housing production by 50%, added an alternative program for single-family housing, expanded their Home Repair Programs, and initiated a Fall Prevention Program.

In the aftermath of Hurricane Helene’s devastating effects on the region in 2024, Housing Assistance became a member of North Carolina Voluntary Organizations Active in Disaster, NCVOAD. Today, programs offered by Housing Assistance are housing counseling, single-family new home construction, multifamily unit construction, home repair, and disaster recovery.

Want to know more? Visit Housing Assistance (https://housing-assistance.com/).