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East Tennessee Foundation

Chief Financial Officer

East Tennessee Foundation


Job Summary

East Tennessee Foundation is a nonprofit, 501(c)(3) community foundation serving 25 counties in East Tennessee. Governed by a volunteer board of directors, its mission is to provide philanthropic leadership inspiring donors to make lives better and communities stronger in enduring ways across generations. The Foundation has total assets over $500 million, more than 400 charitable funds and 9 supporting organizations, and $20 million in annual grantmaking. The Foundation is seeking a Chief Financial Officer (CFO) to oversee its financial, budget, accounting, and investment activities. In addition, the CFO is responsible for human resource management, benefits administration, and risk management of the Foundation. The CFO provides supervision, direction, and guidance in the areas of fiscal operations, controls, and accounting procedures and ensures compliance with relevant laws and tax obligations in coordination with an auditing firm. The CFO serves as a member of the Foundation’s management team and assists in structuring charitable gifts, impact investments, and grant initiatives. The position will involve a variety of responsibilities, ranging from complex accounting and investment activities and higher-level organizational planning and strategy, to detail-oriented financial and administrative work. Many duties will be performed by the CFO directly; others will be performed by other staff under the leadership and supervision of the CFO; others will be performed by the CFO as part of a team led by other members of the staff or board. The CFO must be comfortable working with a diverse group of office staff, board members, prospects, donors, grantees, and volunteers to help accomplish the strategic plan of the Foundation.

Job Responsibilities

• Direct the Foundation’s overall financial and investment activities and provide oversight of the finance team and others whose work directly impacts the accounting system.

• Assist the President + CEO and Board of Directors in setting strategic goals for the Foundation and setting its direction.

• Serve as liaison with the Foundation’s Investment Committee and work with the Committee to develop and implement investment policies, monitor investment performance, select investment managers, and review the spending policy at least annually.

• Oversee the Foundation’s banking relationships and deployment of short-term cash to achieve the optimum return within a minimal level of risk.

• Direct the human resource function of the office, including the development of employment policies and determination of employee benefits; serve as the Plan Administrator for the Foundation’s retirement plan; and assist the President + CEO in overall supervision of team members.

• Provide written and oral reports to the Board, its committees, nonprofit boards, donors, and other constituents regarding the Foundation and its financial and investment practices.

• Supervise the development and implementation of accounting and financial policies, internal controls, and procedures and assist with the development of other office policies and procedures.

• Supervise and assist in the preparation and filing of the Foundation’s annual audit, federal 990 and 990-T tax returns, and other required reports, including those of all supporting organizations (separate tax entities), and assist with reporting to the Audit Committee.

• Oversee administration of the Foundation’s component funds, developing policies when necessary, incorporating new funds into the database, developing and monitoring an equitable fee structure to be assessed to each fund, monitoring fund reporting, and complying with the Inactive Fund Policy.

• Oversee team members’ work with the Foundation’s supporting organizations to ensure compliance with applicable laws and regulations and to incorporate financial activity into the Foundation’s accounting system.

• Lead the finance and administrative team in constructing the Foundation’s annual operating budget, serve as the staff liaison with the Board’s Budget Committee, and prepare and deliver budget presentations to the Committee and the Board of Directors.

• Construct various grantmaking and scholarship program budgets by calculation of the annual spending rate from the Foundation’s endowments.

• Assist the advancement staff with financial and tax information in preparing presentations to prospective donors.

• Participate in the maintenance of an accurate and current database that includes contact and mailing information, donor and grantee data, a complex accounting system, and a unitized investment platform.


The successful applicant must be a licensed Certified Public Accountant and have extensive experience in accounting with at least five years in supervisor and/or executive level management.

To accomplish the performance objectives, the candidate must exhibit the following attributes, skills, and qualifications:

• Superior accounting and financial management abilities with knowledge of GAAP and FASB standards as they apply to nonprofit agencies.

• Experience performing diverse and complex fund or trust accounting and knowledge of accounting for investments and charitable gift planning.

• Strong interpersonal skills, positive attitude, highly motivated, self-directed, with the ability to work independently, as the leader of a team, and as a member of a team.

• Proven supervisory ability.

• Excellent organizational, analytical, and detail-oriented skills and ability to think strategically.

• Strong oral and written communication skills.

• Experience in human resources and benefits administration.

• Experience with assessing and managing organizational risk.

• Ability to juggle multiple tasks.

• A superior working knowledge of databases, Microsoft Office (including Outlook, Word, Excel, and Access), Microsoft Windows and other software systems.

Additional Information


The Foundation offers a competitive salary and a comprehensive benefits package, including health, long-term disability, and a retirement plan. Position available immediately, but search will be kept open until appropriate candidate is identified.

How to Apply

Please send resumes with cover letter and list of employment references:

By Mail: Michael T. McClamroch

President + CEO

East Tennessee Foundation

520 W. Summit Hill Drive, Suite 1101

Knoxville, TN 37902

By Email: (to Mike’s assistant)



  • Date Posted: November 30, 2020
  • Type: Full-Time
  • Job Function: Accounting / Financial Management
  • Service Area: Philanthropy / CSR