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Director, Finance

Company: 501 Commons
Location: Seattle
Posted on: March 20, 2023

Job Description:


501 Commons is about helping nonprofits succeed in making our world a better place. We do that by providing affordable technology and management consulting; leadership coaching and executive advising; ongoing finance, HR, and tech support; a fundraising platform, training, and advisory services to more than 2000 nonprofits each year.

As a member of our leadership team, the Director of Finance ensures that 501 Commons maintains effective operations and financial management so the organization can build partnerships with clients, operate efficiently, avoid risk, and deploy resources effectively to maximize the impact of our services. This role requires a focus on financial management, reporting, and analysis. The ideal candidate will be able to maintain clear communications with team members and carry a big-picture perspective about how financial data and processes support the organization's work.

In addition to the following essential duties and responsibilities, the Director of Finance assumes other responsibilities as appropriate.


Financial Operations
Prepare and examine financial records, ensuring records are accurate, taxes are paid, and access to cash is managed.

Monitor the performance of the accounting staff, including:
Accounts payable/accounts receivable process.
Regulatory and security compliance
Reporting functions
Maintain the chart of accounts and implement fiscal procedures and systems.
Ensure compliance with financial policies, board policies, and fiscal best practices.
Lead budget preparation, financial reporting, and an annual forecast
Prepare and distribute accurate and timely financial reports for the program managers, leadership team, board finance committee, and board of directors.
Conduct financial analysis to support organizational sustainability and efficiency while maximizing mission impact and mitigating risks
Work closely with program managers and senior staff to ensure a good understanding of financial practices that ensure positive financial performance.
Develop and distribute ad-hoc reports and budgets as needed for contracts, grant applications, and reports.
Monitor account balances and provide cash forecasts.
Lead the year-end close process and annual financial audit preparation.

Program Administration - Washington State Opportunity Scholarship (WSOS)
Function as primary liaison for WSOS, a public-private partnership with the State of Washington. WSOS contracted with 501 Commons as an "employer of record". Work with WSOS leadership to ensure 501 Commons provides contracted HR, finance, and IT support as required under the contract.

Full-cycle HR function, including benefits administration.
IT support
Finance and accounting function, including.
Full-cycle accounting support
State match process
Scholarship model development
Treasury management
Investment and financial reporting
Grant and award management

Risk management, operations, and legal

Ensure compliance with federal, state, and local laws and regulations and seek legal advice
Maintain the organization's risk management policies and processes, including oversight of its cybersecurity and privacy policies. Ensure the leadership team and program managers evaluate and manage potential risks and comply with policies.
Working with the Administrative Manager, ensure that administrative processes are maintained, including the annual administrative calendar.
Facilities management
Appropriate handling of official records and documents,
Develop and ensure compliance with organizational policies.

Program administration - Financial Services Program

Provide oversight of the Financial Services program, including directing the Program Manager on program design and execution.
Ensure profitability and service quality, including responding to client issues not resolved with the Financial Services Program Manager.
Evaluate the program and initiate changes as necessary to manage costs, improve customer service, and achieve organizational goals.
Provide for the appropriate control, accountability, and insurance coverage of physical and electronic assets and other property.

Board of Directors

Assist the Executive Director in supporting the board of directors, including managing meeting preparations and preparing executive limitations reports.
Provide leadership in developing financial policies for consideration by the Board of Directors and carry out plans and policies authorized by the board.
Staff representative to the Finance Committee.


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. They must perform well under pressure and respond positively to change and shifting priorities. The ideal candidate is also an independent thinker and self-starter who has the foresight and anticipates needs. They must be a creative problem-solver and a proactive decision-maker and be quickly able to prioritize tasks.

Thorough knowledge of accounting principles, fund accounting, GAAP, nonprofit accounting, laws, tax codes, government regulations, and best practices
Demonstrates a customer and service focus consistent with 501 Commons' values
Effectively manages time and projects as demonstrated by meeting deadlines and sufficiently anticipating the duration of tasks
Builds trusting relationships with managers and staff of diverse backgrounds.
Demonstrates commitment to 501 Commons' equity and inclusion goals at all levels of the organization and skill in supporting growth toward those goals.

The qualifications listed below represent the required knowledge, skill, and/or ability. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the role.

Required Qualifications

Six years or more experience in financial management
Three years or more of accounting experience in a nonprofit environment
Bachelor's Degree in accounting or a related field
Proficiency in QuickBooks and MS Excel
Treasury experience managing cash flow, investments, and relationships with financial institutions
Demonstrated track record of success in maintaining financial controls, delegating tasks, and supervising staff
Effective oral and written communication skills

Preferred Qualifications

Experience with MIP Abilia
CPA certification or in process
Significant treasury management experience
Grant management and reporting experience.

What we offer

Flexibility: Ability to set your own schedule within a M-F, 7am to 7pm timeframe with the option to work remotely or from the 501 Commons office in Seattle. Two days of work in the office are expected.
Benefits include generous paid time off, 12 paid holidays, and access to medical, dental, and vision coverage. Access to a retirement account.

Inclusiveness Statement
501 Commons is an equal-opportunity employer and seeks to recruit persons of diverse backgrounds and to support the retention and advancement of diverse persons within the organization. We believe that having a board, staff, and volunteer corps with diverse personal and professional backgrounds enhances our ability to meet our mission.

501 Commons is committed to providing an inclusive workplace that includes people of diverse backgrounds and fully utilizes their talents to achieve its mission. We are committed to fostering and supporting a workplace culture inclusive of people regardless of their race, ethnicity, national origin, gender, sexual orientation, socio-economic status, marital status, age, physical abilities, political affiliation, religious beliefs, or any other non-merit fact, so that all employees feel included, equal, valued and supported.

Keywords: 501 Commons, Seattle , Director, Finance, Executive , Seattle, Washington

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