Chief Financial Officer

Role Title: Chief Financial Officer

Department: Finance

Reports to: President

Employment Classification: Full-Time

FLSA Status: Exempt

Salary Band: MIN $175,000 | MID $219,000 | MAX $263,000 (Candidate offers will start between the minimum and midpoint of the range)

Grade: 2B

About Borealis Philanthropy

Borealis Philanthropy is a powerhouse philanthropic intermediary dedicated to advancing justice—which, at its core, means building a truly inclusive, multiracial democracy. We partner with donors to funnel resources to grassroots movements led by historically under-resourced communities. And through responsive funding models, we support intersectional justice, narrative power, community safety and well-being, and economic equity—and the infrastructure they demand.

Our Vision
We envision a world where:

• We reckon with this country’s long history of racial injustice built on anti-Black racism, Native American genocide, exploitation of Black and Brown labor, and work to repair harm with all communities that have been impacted.

• Communities are connected and interdependent, and people share responsibility for one another.

• We have the collective power to have agency over our lives.

• Our political, social, civil, and economic systems and institutions are representative of, and responsive to, all communities.

• Everyone leads joyful, vibrant, and free lives.

Role Overview

The Chief Financial Officer (CFO) is a key member of the senior leadership team, responsible for the overall financial health and sustainability of Borealis. Reporting directly to the CEO, the CFO serves as a strategic thought partner, translating financial insights into actionable strategies that support Borealis’s mission, programs, and long-term growth.

Responsibilities

Strategic Leadership and Partnership

• Serve as a strategic advisor to the CEO and a key partner to the senior leadership team in setting and executing Borealis’s organizational and financial strategy.

• Provide clear, timely financial analysis, scenario modeling, and recommendations to inform strategic decisions, program growth, and resource allocation.

• Engage regularly with the Board of Trustees and Finance Committee, preparing and presenting financial reports, forecasts, and analyses that support board governance and fiduciary oversight.

• Align investment portfolios with the nonprofit’s core values by evaluating Environmental, Social, and Governance (ESG) criteria.

Financial Strategy, Planning, and Analysis

• Lead the development of Borealis’s annual operating, capital, and program budgets in collaboration with the CEO, senior leadership team, and other budget owners.

• Oversee multi-year financial planning and forecasting, including cash flow projections, reserves planning, and long-term sustainability modeling.

• Develop, track, and report on key financial and operational metrics (KPIs) to monitor organizational performance and inform decision-making.

Financial Management, Reporting, and Compliance

• Oversee all day-to-day finance and accounting functions, including general ledger, accounts payable/receivable, payroll, and grants accounting, ensuring accurate and timely processing.

• Ensure the preparation of accurate and timely monthly, quarterly, and annual financial statements for budget owners, the finance committee, and the board, in accordance with GAAP and nonprofit reporting standards.

• Manage the annual external audit and Form 990 preparation, coordinating with external auditors and tax advisors, and implement audit recommendations as appropriate.

• Ensure compliance with all applicable federal, state, and local regulations, as well as funder, grant, and donor requirements.

Cash, Investments, and Risk Management

• Analyze short- and long-term cash requirements. Optimize operating cash by placing excess funds in safe, liquid accounts (e.g., CDs, money markets, Treasury bills) while reserving longer-term capital for growth.

• Oversee the administration of the organization’s reserve accounts:

• Partner with the Board Treasurer and Finance/Investment Committee to develop, maintain, and enforce an Investment Policy Statement (IPS) that dictates risk tolerance, asset allocation, and liquidity needs.

• Develop and maintain enterprise risk management practices, including financial risk assessments, internal controls, and insurance coverages.

Grants, Restricted Funds, and Donor Reporting

• Partner with the development/fundraising team to align financial planning with revenue strategies, campaigns, and grant opportunities.

• Oversee financial aspects of grants and contracts, including proposal budgets, post-award monitoring, compliance, and financial reporting to funders.

• Ensure accurate tracking, management, and reporting of restricted and unrestricted funds, including endowments, board-designated funds, and program-restricted grants.

Systems, Processes, and Infrastructure

• Lead the design, implementation, and continuous improvement of financial systems, policies, and procedures that support a well-controlled yet flexible organization.

• Ensure strong internal controls, clear delegations of authority, and appropriate segregation of duties across finance and related functions.

• Oversee selection, implementation, and optimization of financial and reporting software, ensuring reliable, real-time information and efficient workflows.

Team Leadership and Organizational Culture

• Lead, mentor, and develop the finance team, setting clear goals, expectations, and professional development plans.

• Foster a culture of transparency, accountability, service orientation, and cross-functional collaboration with program, development, and operations teams.

• Provide financial training and capacity building for non-finance staff and managers to strengthen budget ownership and literacy across the organization.

Other Duties

As a member of the Borealis staff, the Chief Financial Officer performs certain functions that are not specific to their role, but support the organization as a whole. This includes:

• Submitting and approving expense reports and timecards by stated deadlines.

• Attending all staff meetings, required trainings, and events.

• Participating in organizational development and change processes, including serving on committees or special project teams.

• Model Borealis' culture and values; align outcomes, practices, and communications within the organization's culture.

• Manage special projects and other duties as assigned.

Education and Experience

• Bachelor’s degree in finance, accounting, business administration, public administration, or related field required; advanced degree (MBA, MPA, or similar) preferred.

• CPA, CMA, or equivalent professional certification strongly preferred.

Competencies (Knowledge, Skills, and Personal/ Behavioral Attributes)

• Deep knowledge of nonprofit finance, GAAP, fund accounting, and regulatory compliance (including IRS, state charity regulators, and grant requirements).

• Strong strategic, analytical, and problem-solving skills, with the ability to translate complex financial information into clear, actionable insights.

• Demonstrated ability to lead and develop high-performing teams and to build strong relationships across an organization.

• Excellent communication skills, including preparing and delivering financial updates and reports to non-financial stakeholders in accessible, mission-centered language.

• High integrity, sound judgment, and a strong commitment to Borealis' mission and values.

Advancement Statement

Borealis Philanthropy is committed to supporting staff growth, development, and long-term success. While advancement opportunities vary by team and organizational needs, employees can expect to grow through increased responsibilities, skill-building, and leadership opportunities over time. Progression at Borealis is based on demonstrated competencies, strong performance, and alignment with our values and strategic direction. As the organization evolves, new roles and pathways may emerge, and staff are encouraged to pursue development opportunities that prepare them for future advancement.

Work Environment (Conditions and Physical Demands)

This job operates in a professional, virtual, home office or co-working environment, with local and national travel. In line with Borealis’ commitments to racial equity and disability justice, our current policy is that no staff member travel or attendance at in-person meetings is required at this time. If team members are interested in attending in-person events, Borealis will, as needed, work to make reasonable accommodations to ensure their health and safety.

This role routinely uses standard office equipment, including a laptop computer and cell phone. The employee is generally required to spend long periods of time sitting, typing, and working at a computer. May require the ability to occasionally lift and transport items. Accommodations will be made based on ability and accessibility.

Commitment to Disability, Diversity, Equity, & Inclusion

Borealis is committed to the full inclusion of all qualified individuals. As part of this commitment, we will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, please contact [email protected]. Borealis is an equal opportunity employer and does not discriminate on the basis of race, sex, religion, national origin, gender identity or expression, sexual orientation, disability, age, or any other category protected by local, state, or federal laws. We are committed to building a diverse, equitable, and inclusive staff team. We strongly encourage applicants who are people of color, LGBTQ, women, trans and gender non- conforming people, people with disabilities; and/or formerly incarcerated people.

This role is open to candidates within the continental United States (49 states plus the District of Columbia). Applicants must be authorized to work in the United States.