Director of Finance/Controller

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Last updated 10 months ago First posted about 1 year ago

Reporting Structure: Reports to Executive Director

We’re a community of startups and techies

20Fathoms is a non-profit technology hub and startup incubator in Northern Michigan. Our mission is to accelerate the growth of innovative and scalable startups and entrepreneurs in Northwest Michigan. We do this by delivering essential startup services, providing a community workspace, and connecting entrepreneurs with crucial resources that facilitate business growth.

With emphasis on a team-first, energetic culture, we provide space and resources conducive to creativity and innovation, where high-potential entrepreneurs and innovation experts convene, learn, create, launch, and grow. 20Fathoms is here to support and accelerate the success of hard-working founders, taking their “fathom” from concept, to market, to scale and beyond. Not to be mistaken for a simple “coworking space”, we provide advanced educational programming, invaluable networking opportunities, access to startup capital, and helpful business coaches and mentors to continually boost startup companies through their next stages of growth.

Emphasis on executing the right work with meaningful results:

Reporting to the Executive Director, the Director of Finance serves as the controller and manages key accounting functions including budgeting, forecasting, financial reporting, payroll with HR, internal controls, and compliance. Senior level oversight and management of all of the organization’s financials, including grant and subsidiary investment fund financials. The role involves supporting the Board of Directors and working closely with the leadership team, overseeing the daily financial operations of the non-profit organization, and leading one finance staff member. Will ensure compliance with nonprofit accounting standards and regulations, while aligning financial decisions with the organization’s mission and goals.

Critical top-level objectives are:

Financial Management & Reporting – managing organization’s finances by tracking income, expenses, assets, and liabilities, and communicating information through comprehensive financial statements to include; balance sheets, income statements, and cash flow statements and striving to ensure stakeholders have visibility into budgets and all relevant financial data to make informed decisions based on that data.

Compliance & Risk Management -ensure adherence to all applicable laws, contracts, and best practices. Identify, evaluate, and mitigate risk via review of internal and external policies and procedures.

Internal Controls & Financial Policies – ensure procedures, and processes are designed and followed to safeguard organization’s fiscal integrity. Validate the accuracy of financial reporting, promote compliance with regulations, and maintain operational efficiency by preventing errors and verify adherence. Provide reasonable assurance that financial information is reliable and trustworthy;key components include separation of duties, proper documentation, regular reconciliations, and risk assessment practices.

Leadership & Team Management - guide and motivate direct report to achieve shared goals effectively, encompassing both the ability to set a vision and inspire. Display skills to organize, delegate tasks, and ensure smooth execution within the organization to maximize productivity and collaboration with a solution orientated mindset.

Key Responsibilities:

• Collaborate with the Executive Director, leadership team and Board of Directors to support long‑term financial strategies aligned with the organization’s mission.
• Oversee the financial operations of the organization, including accounting, payroll coordinating with HR, grants, fiscal management, and financial reporting.
• Foster a culture of financial transparency and accountability within the organization.
  Collaborate with department leadership to support financial decision-making and program budgeting.
• Develop and manage the preparation of all financial reporting including consolidation of investment fund subsidiary financials.
• Develop monthly, YTD, and annual reports, including presentation to the Board.
• Ensure proper cash flow management and liquidity to meet the organization’s operational needs.
• Develop, implement, and oversee robust internal financial controls to protect the organization’s assets and ensure financial integrity.
• Lead and mentor the finance and accounting direct report, ensuring proper training and professional development.
• Ensure accurate and timely financial statements in accordance with Generally Accepted Accounting Principles (GAAP) for nonprofits.
• Ensure the organization complies with all legal, regulatory, and financial reporting requirements.
• Oversee the organization's risk management strategies, including insurance and risk mitigation plans; work with legal counsel and external auditors as needed to manage risk and ensure compliance.
• Establish and regularly update financial policies and procedures to promote operational efficiency, transparency, and accountability.
• Ensure compliance with nonprofit tax reporting (e.g., IRS Form 990) and any other regulatory filings.
• Act as a strategic advisor to the Executive Director and senior leadership team on all financial matters, providing insights and guidance to support informed decision-making and organizational growth.
• Other duties as assigned.

Skills

• High-level of integrity and accountability, with a commitment to the organization’s mission, vision, and values.
• Strong knowledge of nonprofit accounting standards, including GAAP and fund accounting.
• Proven ability to create and manage complex budgets and financial models.
• Experience overseeing audits and managing compliance requirements.
• Strong analytical and problem‑solving skills.
• Excellent written and verbal communication skills, with the ability to communicate complex financial concepts to non‑financial stakeholders.
• Leadership experience, including team management and collaboration with an array of internal and external stakeholders.
• Proven ability to understand and protect sensitive information and maintain confidentiality
• Experience developing and managing business performance processes (KPI’s, OKR’s.)
• Willing to put entrepreneurs / members / customers first – attitude of ensuring their success.
• Team player and ability to lead through influence.

Preferred Skills

• Knowledge of tech and/or startup sector.

Education and Experience

• A minimum of 5 - 7 years of experience in fiscal management required; non‑profit sector experience highly preferred.
• Experience with state and federal grant management and fee-for-service models is highly desirable.
• A Bachelor’s degree in Business Administration, Accounting, or Finance or a combination of education and applicable work experience.
• A Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation would be considered a plus but not required.

Technology

• Accounting software - Intuit QuickBooks (highly proficient/expert)
• Cloud-based data access and sharing software - Microsoft SharePoint (proficient)
• Customer relationship management CRM software - HubSpot (familiar)
• Document management software - Adobe Acrobat, DocuSign (familiar)
• Electronic mail software - Microsoft Outlook (proficient)
• Office suite software - Microsoft Office/Word, Excel, Power Point, etc. (highly proficient)

Working Conditions

• Majority of work will be performed at the Traverse City HQ office with one’s own workstation, with the ability for some hybrid work.
• Some planned travel for meetings and/or conferences with ample notice

20Fathoms is an equal opportunity employer. We encourage candidates of all backgrounds and experiences to apply. This is currently a grant funded position for the next 12+ months with potential for a longer term.

The Michigan’s Creative Coast Job Board is powered in partnership with 20Fathoms .

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It was definitely a leap of faith when we left the Detroit area for Traverse City, leaving behind the close support of family. We knew only one couple who lived in the area. We found that the Grand Traverse Region is a wonderful place to raise a family. Our four children have thrived in the schools and benefitted from the many extracurricular activities available. For fun, we love to spend time outdoors during all four seasons, and we love to eat good food whether it is from our favorite restaurants or cooking with bountiful locally sourced products.

THERE HAS DEFINITELY BEEN AN INCREASE IN DIVERSITY IN TRAVERSE CITY OVER THE YEARS WE HAVE BEEN HERE AND I AM EXCITED TO BE A STEWARD OF EVEN MORE TO COME!

The Traverse City region has so much to offer that you cannot experience in many parts of the country– being on the 45th parallel, we have incredible award winning wineries, we have world-renowned chefs that have moved to the area, we have a health system that is constantly growing and becoming a true ‘destination for care’ in northern Michigan. All of this, yet still have that small-town feel where you run into people you know when you are walking downtown, don’t have to deal with metropolitan traffic, and can be situated on beautiful Lake Michigan! Need I say more?!