About Prospera
Since 1993, Prospera Housing Community Services has empowered families by providing safe, high-quality affordable housing with support services to those in need. As a mission-driven nonprofit, we foster family stability and strong communities by addressing individual needs.
Our core values—integrity, accountability, excellence, commitment, dignity, fairness, and respect—guide how we serve our residents and support one another. We welcome passionate professionals who are ready to make a meaningful difference.
Position Summary
The Chief Financial Officer (CFO) is a strategic and operational leader responsible for safeguarding Prospera’s financial health, sustainability, and compliance. Reporting to the Executive Director/CEO and serving as a key member of the senior leadership team, the CFO oversees financial strategy, operations, reporting, risk management, and compliance across a complex portfolio of affordable housing assets, entities, funding sources, and regulatory requirements.
Essential Duties and Responsibilities
Strategic and Executive Leadership
- Partner with the Executive Director/CEO and Board of Directors to develop and implement long-term financial strategies supporting Prospera’s mission, growth, and sustainability.
- Provide timely financial analysis and recommendations to guide strategic decisions and capital planning.
- Serve as lead staff to the Board and its Finance and Audit Committees, preparing materials and presenting financial results, forecasts, and recommendations.
- Represent Prospera in meetings with government agencies, financial institutions, funders, industry associations, and other stakeholders.
Financial Management and Reporting
- Direct accounting, budgeting, forecasting, cash-flow planning, and financial reporting in accordance with GAAP and nonprofit accounting standards.
- Oversee annual operating budgets, multiyear forecasts, and consolidated reporting across properties, entities, departments, and funding streams.
- Develop, maintain, and monitor financial policies, procedures, systems, and internal controls.
- Ensure accurate, timely, and useful financial and management reporting for leadership, the Board, departments, investors, and other stakeholders.
Affordable Housing Finance and Compliance
- Oversee the financial management of affordable housing programs, including LIHTC, HUD-funded programs, Section 8, and other public and private funding sources.
- Ensure compliance with federal, state, and local regulations, partnership agreements, lender and investor requirements, and funding restrictions.
- Evaluate property-level financial performance, reserve requirements, and long-term asset sustainability.
- Support housing development transactions, limited partnerships, refinancing, capital financing, and renovation projects.
Audit, Risk, and Treasury
- Lead annual audits and tax filings, including Form 990, and serve as the primary liaison to external auditors, investors, lenders, and regulators.
- Establish and maintain effective internal controls, risk-management practices, and standards for financial governance and transparency.
- Manage cash, debt, investments, banking relationships, loans, bond issues, and other financing activities.
- Monitor debt covenants, investor reporting, and other financial obligations.
Grants, Contracts, and Funding
- Support grant development and contract negotiations through financial modeling, budgeting, analysis, and compliance oversight.
- Ensure accurate tracking, reporting, reconciliation, and use of restricted and unrestricted funds.
Team Leadership and Operations
- Lead, mentor, recruit, train, and evaluate Finance and Accounting staff.
- Foster a collaborative, accountable, high-performing culture with open, two-way communication.
- Evaluate and improve financial systems, property-management integrations, reporting tools, and departmental processes.
- Collaborate closely with Property Management, Development, Asset Management, Human Resources, and other departments.
- Perform other duties as assigned by the Executive Director/CEO.
Knowledge, Skills, and Abilities
- Extensive knowledge of accounting, budgeting, auditing, grants management, investments, financial administration, and revenue forecasting.
- Knowledge of federal, state, and local laws and regulations governing nonprofit and affordable housing financial activities.
- Knowledge of LIHTC, HUD programs, and multifamily housing regulations preferred.
- Ability to develop and maintain effective accounting, reporting, budgeting, forecasting, and internal-control systems.
- Ability to prepare and clearly communicate complex financial reports and analyses to financial and nonfinancial audiences.
- Experience with general-ledger, property-management, and financial-reporting systems.
- Strong leadership, supervisory, analytical, decision-making, communication, and meeting-facilitation skills.
Personal Attributes
- Mission-driven leader with strong ethical standards
- Strategic and analytical thinker
- Clear and persuasive communicator
- Detail-oriented with a strong big-picture perspective
- Collaborative leader committed to employee development and cross-functional teamwork
- Accountable, responsive, and comfortable taking initiative
Education and Experience
- Bachelor’s degree in Accounting, Finance, Business Administration, or a related field required; MBA preferred.
- Current Texas CPA license required.
- At least 15 years of progressive financial leadership experience, including nonprofit finance and affordable housing experience.
- At least two years of audit or tax-procedure experience.
- Demonstrated experience working with Boards of Directors and senior leadership teams.
- Experience with housing development transactions, limited partnerships, LIHTC, and capital financing preferred.
Supervisory Responsibilities
The CFO exercises general supervision over the professional, technical, and administrative staff responsible for the Finance and Accounting Department’s activities.
Leadership and Collaboration Expectations
All Prospera employees contribute to our shared mission. The CFO is expected to:
- Take ownership of commitments, decisions, results, and organizational impact.
- Lead with initiative, sound judgment, urgency, professionalism, and respect.
- Establish clear expectations and hold team members accountable.
- Meet regularly with direct reports to review progress, provide support, and offer feedback.
- Ensure adherence to organizational policies, procedures, and regulatory requirements.
- Communicate clearly and proactively across departments and leadership levels.
- Share information, coordinate decisions, and build effective cross-functional relationships.
- Represent Prospera and its mission professionally both inside and outside the organization.
- Encourage diverse perspectives and ensure team members have opportunities to contribute.
Confidentiality
This position has access to confidential and sensitive information, including financial data, resident and employee information, and organizational strategies. The CFO must handle this information in accordance with Prospera policies and applicable laws, exercise appropriate discretion, and share confidential information only with individuals who have a legitimate business need.
Physical Requirements and Work Environment
- Ability to work for extended periods at a desk and computer and use standard office equipment.
- Ability to communicate effectively in person, virtually, and by telephone.
- Ability to lift and carry items weighing up to 15 pounds.
- Ability to navigate housing properties, including inclined terrain and stairs.
- Occasional travel within Prospera’s service region and to other locations as required.
- Hybrid work environment with standard business hours and periodic extended hours during audits, budget cycles, and other critical periods.
Compensation
$200,000–$225,000 annually
