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Controller

BAINUM FAMILY FOUNDATION

7735 Old Georgetown Road, Bethesda, MD, USA

Competitive and commensurate with experience

Bainum Family Foundation seeks an exceptional Controller who is committed to supporting the financial health of an organization that is transforming the lives of underserved children and families in the District of Columbia and beyond.

The Organization

The Bainum Family Foundation helps children exit poverty by providing educational opportunities and other support needed for lifelong success. Entrepreneur Stewart Bainum founded the organization in 1968 and our decades of experience, combined with our ability to translate the latest research into effective policy and practice to support the whole child, mean we’re continuously evolving our strategy to achieve the greatest impact. 

Research shows the first three years of a child’s life are most critical for brain development.  Reaching children during these early years with high-quality early learning and a continuum of vital wrap-around supports gives them the best chance of success in school and life. The Foundation focuses our investments in three areas: Early Learning, Wrap-Around Support, and Knowledge Building. As part researcher, part organizer, part educator, and part investor, we put children at the center of everything we do. We are committed to changing their futures.

Informed by the Foundation’s founders, the following core values form the fabric of our culture, supporting every component of our work and painting a picture of who we strive to be every day. These core values include:

• Continuous Learning – Embrace change & grow

• Integrity – Be open and transparent

• Collaboration – Respect and engage all partners

• Commitment – Be accountable and persistent

 

Headquartered in Bethesda, MD, the Bainum Family Foundation is a 501(c) private operating foundation with a current operating budget of $10M and a staff of 47. The Foundation is governed by a 9-member Board of Directors and has a senior leadership team of 11. The Controller is a member of a 6-person accounting team. For more information about the Bainum Family Foundation, see https://bainumfdn.org/.

The Position

Reporting to the Senior Director – Finance and Facilities, the Controller manages the day-to-day operations of the accounting team, including functional responsibility over accounting, accounts payable, and payroll. S/he is responsible for the Foundation’s financial plans and policies, accounting practices, maintenance of fiscal records, and preparation of financial reports. The position requires supervision over general accounting and budgetary controls.

Supervising a team of 3 members, the Controller will ensure that the Foundation has the systems and procedures in place to support effective program implementation and conduct flawless audits. The Controller will work closely with program leaders and their staffs, not only to educate them regarding finance and accounting procedures but also to explore how the finance function can support program operations. 

The Foundation structures our work through a portfolio of interconnected initiatives. All staff play a role in connecting and synthesizing knowledge across teams to further the Foundation’s Mission and Vision. Therefore, this person may be assigned to any of the Foundation’s initiatives based on initiative cycles and evolving organizational needs.

The Foundation values and is committed to a diverse workforce and an equitable, inclusive culture. We believe that viewing every aspect of our work through a diversity, equity and inclusion lens allows us to holistically support our staff and have a greater impact on the communities we serve. The Foundation, therefore, strongly encourages and seeks applications from all qualified individuals whose racial, socioeconomic, ability status, and other individual dimensions allow them to bring unique and diverse perspectives to their work.

Key Responsibilities

Primary responsibilities include:

Finance and Accounting Operations

  • Effective controls and best practices
    • Assist the Senior Director in developing and maintaining effective financial controls
    • Work with accounting staff to maintain data and implement best practices with documented operating procedures
  • Audit,  compliance, and controls
    • Provide leadership in annual audit and 990PF preparation
    • Ensure compliance with local, state, and federal reporting requirements
    • Maintain accounting and tax records
    • Actively monitor and adhere to control processes to protect the financial assets of the Foundation and its subsidiaries
    • Oversee all accounts, ledgers, and reporting systems ensuring compliance with appropriate GAAP standards and regulatory requirements
  • Accounting and budgeting
    • Responsible for timely execution and oversight of payroll, accounts payable, budgeting, tax compliance, and cost accounting.
    • Support the annual budgeting and planning process, including the preparation of the annual budget and financial forecasts

Reporting and Analysis

  • Board of Directors
    • Prepare financial reports for the Board of Director’s meetings
    • Assist, as requested, in preparing information for Audit Committee meetings
  • Reporting
    • Budget vs Actual with variance analysis
    • Monthly and quarterly Financial Statements
    • Cash Flow Forecasts monthly
    • Analyze and interpret statistical and financial data and present financial information and analysis in an accurate and timely manner
    • Monitor progress and changes and keep senior leadership informed on the Foundation’s financial status

Team Leadership, Development and Management

  • Manage the accounting team to support the implementation of Foundation initiatives
  • Leverage strengths of the current accounting team members; mentor and develop staff using a supportive and collaborative approach in order to maximize and reach individual and organizational goals
  • Promote a culture of high performance and continuous improvement that values learning and a commitment to quality
  • Establish and monitor staff performance and development goals
    • Assign accountabilities
    • Set objectives and establish priorities
    • Conduct annual performance appraisals

 

Experience and Attributes

Ideal candidates for this position will share their commitment to the Foundation’s mission and will bring a variety of experiences and attributes, including:

  • Strong nonprofit and business acumen; proven track record of advancing accounting operations, reporting, and forecasting to support organization mission.
  • 5+ years of overall professional experience in accounting field; nonprofit accounting or audit/tax preferred.
  • 501(c)(3) private operating foundation accounting experience a plus.
  • 5+ years of functional leadership experience in a management position that includes leader supervision and development.
  • General accounting knowledge including investment accounting, consolidations and intercompany eliminations, multi-entity environment, contract administration, deferred tax accounting, allocations management, and accrual to cash accounting. 
  • Strong analytical and problem-solving skills.
  • Research skills in matters involving accounting and finance; able to perform accurate mathematical calculations.
  • Proficient collaborative, interpersonal, written and verbal communication skills; able to read, write and speak the English language at a college level.
  • Ability to convey necessary information accurately, listen effectively, and ask questions when clarification is needed.
  • Can effectively cope with change, work collaboratively and work independently.
  • Ability to complete projects accurately and within deadlines.
  • Readily learns and adopts new technologies that are critical to evolving business needs; is open to building new technical skills, knowledge or capabilities that can benefit business and/or personal performance.
  • Proficiency in Intacct, Bill.com, Microsoft Excel, and SharePoint technology.
  • Bachelor’s degree in finance, accounting or relevant field required; Master’s degree strongly preferred.
  • CPA preferred.

Salary will be competitive and commensurate with experience. The Bainum Family Foundation offers competitive employee compensation and benefits programs and encourages employee learning through a generous professional development program. The Foundation believes in the benefits of education and invests accordingly, both in our partners and our employees. We are an ideal workplace for talented professionals seeking to grow professionally and contribute to meaningful changes in the DC metro area.

HOW TO APPLY

To apply, e-mail resume, cover letter and salary requirements to: Bainum@marcumllp.com (email applications are required). Only complete applications will be considered. For other inquiries contact Adrienne O’Rourke at adrienne.orourke@marcumllp.com. Resume reviews begin immediately.

Bainum seeks to create a diverse workplace. They are actively soliciting applicants from all ethnic, racial and religious backgrounds.

About Raffa – Marcum’s Nonprofit and Social Sector Group

On behalf of Bainum Family Foundation, Raffa – Marcum’s Nonprofit and Social Sector Group is working with the leadership team to advance the search. Founded in 1984 and recently merged with Marcum, Raffa is, and always has been, a mission-driven professional services firm seeking to do more for nonprofits and socially conscious companies. We exist to do meaningful work for organizations like Bainum who are making a difference in our communities and our world.

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