The DIRECTOR OF FINANCE AND ADMINISTRATION provides a highly organized, detail-driven approach to the following areas: finance, human resources and information technology. This position is full-time and reports to the President.
The FRANCE-MERRICK FOUNDATION is a Baltimore-based philanthropic institution focused on enhancing the quality of life in Maryland and Baltimore. With a $210 million endowment and annual grantmaking of $10 million to nonprofit organizations, the foundation is governed by a board of family and community members and is operated by a lean professional staff.
Responsible for operation of financial, accounting and reporting functions. Prepares financial analysis, financial statements, annual budgets, and reports. Maintains the general ledger, ensuring financial transactions are fairly presented in conformity with U.S. generally accepted accounting principles.
Manages the annual development of the budget and provides ongoing fiscal and budgetary management with quarterly reporting
Lead the annual audit process by working with team members to provide proper documentation to external auditors and implement any recommendations made to maintain compliance with
Lead the 990PF process, consulting with tax accountants to provide necessary information and run a simulated 990PF on a quarterly basis to estimate payout for grants
Ensures grant funds are disbursed in accordance with IRS provisions and internal grant agreements.
Calculates the target grant payout (also known as the minimum distribution requirement) four times a year, during grant cycles.
Utilizes best practices to develop, implement and manage policies and procedures for efficient and accurate recordkeeping, including the establishment and maintenance of strong internal controls; provides effective and timely cash flow management, ensuring available cash to meet grant and operating expenses.
Oversees the reconciliation of all bank account(s).
Maintains a ledger of fixed assets, records additions and disposals, and ensures depreciation is calculated properly.
Interacts with the auditors, bankers, investment advisors, insurance brokers, consultants, and other vendors as appropriate.
Ensure invoices' payments and grant receivables comply with the original contracts and agreements; ensure the required documentation and approvals are obtained.
Attend Investment Committee meetings.
Works closely with the Outsourced Chief Investment Officers (OCIO) to communicate periodic cash requirements.
Sign Investment Documents on behalf of foundation for investment actions authorized by OCIO.
Authorize wire transfers to fund investment actions authorized by OCIO.
Manage relationship with custodial account not managed by OCIO.
Human Resources and Administration
Oversee key aspects of human resources including payroll and benefits, personnel policies and implementation, insurance and retirement plan selection, and administration.
Maintain all human resources and financial records.
Ensure that human resources and financial policies comply with best
Ensure the organization is adequately safeguarded by renewing annual insurance coverage to include property insurance, workers compensation, foreign liability, umbrella liability, management liability, cyber liability, and professional liability.
Administrator for the cash management, credit card, and expense report processing system.
Administrator for the financial accounting systems, which includes ongoing financial process evaluations, modifications, and upgrades as required to meet the organization's financial needs; this may consist of adding users, accounts, and vendors as needed.
Ensure that software, hardware and office equipment and systems are appropriately supporting staff needs, including troubleshooting, working with technology support vendor(s).
Undertake special projects at the direction of the President to ensure continued quality of administrative
Legal and Regulatory Compliance
Keeps current on regulations relevant to private foundations to ensure regulatory compliance and timely filing of reports.
Responsible for meeting tax requirements and compliance, including but not limited to 990-PF, 1099-MISC and state USE tax filings, Form 5500; calculates and pays estimated payments; and prepares other third party/government reporting and filings; ensures compliance with 990-PF reporting of grants and accounting requirements; works with accounting firm to ensure complete and accurate preparation of tax return.
Responsible for financial and other third-party audits, including Workers Compensation audit, if applicable.
Ensures the Record Retention and Destruction Policy is updated as needed and that the Foundation is in compliance.
Maintains property, workers compensation, Directors and Officers liability, cybersecurity, and other insurance policies on an annual basis, including completing applications and reviewing policies.
Oversees RFP process for audit firm on an “as needed" basis.
Five or more years of financial experience in a management role, preferably within a nonprofit organization or a foundation.
Demonstrate expert knowledge of finance, accounting, budgeting, and cost control principles, including GAAP.
Ability to analyze financial data and prepare financial reports, statements, and projections, working knowledge of short and long-term budgeting and forecasting.
Strong background in financial systems; knowledge of automated financial and accounting reporting systems.
Excellent project management skills with strong attention to detail and demonstrated ability to complete tasks in a timely manner.
Excellent written and verbal communication and interpersonal skills.
Ability to problem solve, prioritize and manage ever-shifting priorities.
Ability to self-motivate and work independently as well as in a team/group setting.
Detail-oriented and personable, combining a love of people with a love of well-organized systems.
Strong commitment to the mission.
Proficiency in Microsoft Office Suite.
Certified Public Accountant or Certified Management Accountant
Experience with investment management
Preference towards ease with new technological platforms and tools, including electronic payment systems
For over six decades, the France-Merrick Foundation has devoted its primary efforts to supporting the people, sectors and organizations that make up the diverse communities of the Baltimore region.
Like the tree in our logo, the Foundation branches out to touch many facets of life to help grow, strengthen and support vibrant and healthy communities. Starting with the founders’ deep commitment to civic engagement, leadership and community, support for a wide range of efforts has endured and evolved with a changing landscape.
While the Foundation continues to observe and respond to a rapidly changing world, our vision for Baltimore remains the same. Our four core values serve to inspire our actions and guide our funding and partnership decisions as we work with our grantees and partners to fulfill our mission.