ProSearch is partnering with the University of Southern Maine Foundation to hire a Chief Financial Officer (CFO) near Portland, Maine to provide leadership, strategic guidance, risk management, and organizational stewardship.
The University of Southern Maine Foundation serves as a catalyst for transformation at the University of Southern Maine. Now in their third decade of service, the Foundation is pursuing innovative ways to strengthen scholarship programs, raise capital, and achieve ambitious goals that help fuel the University's future.
The Foundation is an independent nonprofit 501(c)(3) organization governed by a Board of Directors and employs a highly collaborative team dedicated to advancing student success and institutional excellence.
This is not a transactional accounting role. Finance staff handle day-to-day accounting operations, reconciliations, and reporting. The CFO provides leadership, oversight, analysis, strategic guidance, risk management, and organizational stewardship.
The Foundation offers a comprehensive benefits package including four weeks of paid vacation, thirteen paid holidays, paid parental leave, generous health insurance, retirement plan matching, and support for professional development.
Position Summary
This role serves as a member of the executive leadership team and is responsible for ensuring the organization's financial strength, operational effectiveness, human resource practices, policy compliance, and long-term sustainability.
The candidate will serve as an advisor to the President & CEO, Board of Directors, Finance Committee, and senior staff. They will identify risks, policies needed, develop solutions to organizational challenges, ensure compliance with financial and employment policies, and contribute to strategy and decision-making.
This role supervises two professional staff members and collaborates with leadership, administrators, donors, board members, auditors, investment managers, legal counsel, and other external partners.
The candidate is a strategic thinker and relationship builder, equally comfortable discussing financial strategy with board members, resolves gift agreement issues with development officers, advising leadership on organizational matters, and ensures the Foundation remains aligned with industry’s best practices.
Primary Responsibilities
Finance and Organizational Stewardship (50%)
The CFO's primary responsibility is organizational leadership, financial stewardship, risk management, and strategic decision support. Day-to-day accounting operations are managed by the Foundation’s Director of Finance & HR under the CFO's supervision.
Financial Leadership
- Develop and maintain multi-year financial forecasts, cash flow projections, and long-term financial models.
- Advises the President & CEO and the Board on financial strategy, sustainability, organizational risks, and opportunities.
- Identifies financial, operational, compliance, and reputational risks before they become organizational problems and develops proactive solutions.
- Monitors organizational performance and recommends adjustments to support strategic priorities and financial health.
Finance Committee and Board Relations
- Serves as primary staff liaison to the Board Treasurer and Finance Committee.
- Ensure board members receive clear, accurate, and actionable information for effective fiduciary oversight and decision making.
- Presents financial reports, forecasts, recommendations, and analyses to the Board and committees.
Financial Oversight and Compliance
- Oversees preparation of monthly, quarterly, and annual financial reports.
- Ensures appropriate internal controls, financial policies, and procedures are maintained and periodically reviewed.
- Oversees budgeting processes and financial planning activities.
- Accountable for completion of the annual audit and IRS Form 990.
- Serves as authorized signatory on banking, retirement, and investment accounts.
Investments and Cash Management
- Monitors invested assets and cash reserves.
- Oversees Foundation transfers and financial relationships with the University.
- Ensures financial obligations contained within donor agreements are honored and appropriately administered.
Pledges Receivable
- Oversees the Foundation's pledges receivable process.
- Works collaboratively with development staff to monitor collections and maximize pledge fulfillment.
- Develops and maintains systems that ensure accurate reporting and effective stewardship of donor commitments.
University Partnership
- Serves as the Foundation's primary liaison to the University's Chief Financial Officer and business leadership.
- Works collaboratively to maintain strong relationships, aligned policies, and effective financial processes between the Foundation and the University.
Gift Administration and Donor Intent Compliance (35%)
The CFO serves as the Foundation's lead advisor regarding gift structure, donor intent documentation, fund administration, and compliance with gift acceptance policies.
Gift Agreements and Fund Establishment
- Drafts and reviews all gift agreements and pledge forms in collaboration with gift officers and portfolio managers.
- Works closely with donors, Foundation staff, University administrators, and legal counsel when necessary to resolve complex gift agreement issues.
- Ensures donor intent is clearly documented, achievable, and aligned with institutional and Foundation policies.
Gift Fund Administration
- Establishes, modifies, and inactivates Foundation and University gift funds and endowments.
- Maintains comprehensive documentation of gift agreements and fund criteria.
- Ensures all stakeholders understand donor restrictions and fund requirements.
Gift Compliance and Reporting
- Oversees reporting related to donor funds and endowments.
- Monitors spending activity to ensure compliance with donor intent.
- Serves as a resource to Foundation and University stakeholders regarding gift fund administration and interpretation.
Human Resources Leadership (15%)
The CFO serves as the Foundation's senior human resources leader and works to ensure organizational values, employment practices, and personnel policies are consistently applied throughout the organization.
Talent Management
- Oversees recruitment, onboarding, performance management, compensation review processes, and employee development.
- Supports supervisors in maintaining a high-performance, collaborative workplace culture.
- Ensures personnel records and employment practices comply with applicable laws and regulations.
Human Resources Administration
- Serves as primary liaison to external HR consultants and employment advisors.
- Oversees employee handbook development, policy updates, and HR compliance activities.
- Assists with compensation analysis, job descriptions, employment offers, and employee relations matters.
Payroll and Benefits
- Oversees payroll administration and compliance through third-party providers
- Evaluates benefit offerings and recommends changes consistent with values and priorities
- Supports employee understanding and utilization of Foundation benefits
Leadership and Collaboration
- Serves as an active and engaged member of the Foundation's senior leadership team.
- Demonstrates sound judgment and discretion when handling confidential financial, personnel, and donor information
- Builds relationships with donors, board members, University leaders, staff, and external partners
- Demonstrates customer service and professionalism
- Serves as a role model for collaboration, accountability, integrity, and respect
- Successfully manages multiple high-priority initiatives simultaneously while maintaining attention to detail and follow-through
- Exercises independent judgment and advances complex projects involving multiple stakeholders to successful completion
Leadership Profile and Qualifications
Required Experience
- Ten or more years of progressively responsible leadership experience in nonprofit finance, higher education administration, healthcare administration, municipal finance, foundation management, or related
- Experience serving on a senior leadership team and contributing to organization-wide strategy and decision-making.
- Experience presenting financial information and recommendations to governing boards, finance committees, executives, or other senior stakeholders.
- Experience supervising professional staff and fostering a positive, accountable workplace culture.
- Experience managing multiple complex projects simultaneously while maintaining attention to detail and meeting deadlines.
- Experience interpreting and applying policies, regulations, and compliance requirements.
- Bachelor's degree in accounting, finance, business administration, public administration, nonprofit management, or a related field.
Preferred Experience
- Certified Public Accountant (CPA), MBA, MPA, SHRM certification, or other advanced degree.
- Experience with nonprofit accounting, charitable gift administration, endowment management, or higher education foundations.
- Experience supporting audits, IRS Form 990 preparation, and board governance processes.
Leadership Competencies
- A trusted advisor rather than a technical expert
- Skilled at identifying risks, opportunities, and emerging issues before they become organizational problems
- Exceptional communicator capable of translating financial matters into clear and actionable information
- Comfortable working with donors, board members, executives, and staff at all levels
- Collaborative problem-solver who can navigate ambiguity and achieve results through influence and relationship-building.
- Highly organized and capable of balancing competing priorities in a fast-paced environment
- Committed to confidentiality, integrity, sound judgment, and professional excellence
Ready to Apply
If you're a CFO in Portland, Maine seeking an executive role where you can ensure financial strength, operational effectiveness, human resource practices, and long-term sustainability, then ProSearch invites you to apply. Connect with us for a confidential conversation and take the next step in your career.
