The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
Read about our commitment to Diversity, Equity, and Inclusion here.
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Position Summary: *
NFF’s Financial Services team provides nonprofit organizations with capital for their facilities and operational needs. We are committed to ensuring communities of color and their leaders have access to and control of the capital they need to meet their goals. We do this by partnering with organizations to ensure our financing products meet their needs now and as they evolve over time. NFF’s New Markets Tax Credit (NMTC) program is one of the ways we deliver on this commitment, by providing nonprofit organizations with tax credits to attract lower cost capital for their facilities projects.
We are seeking a Manager, New Markets Tax Credit to join our NMTC team. The Manager, NMTC will play a central role in the success and growth of NFF’s NMTC program. They will manage client relationships and oversee NMTC compliance and portfolio management. The Manager, NMTC will partner internally to support meeting budgeted goals, contribute to process improvements, develop networks, and help ensure NFF’s financing is aligned with its mission and strategy. This role will be critical in driving our work of compliance and meeting our responsibilities as a NMTC recipient. The position will contribute to our strategic direction of supporting community-centered nonprofits led by and serving people of color.
The preference is for the position to be located out of any of NFF’s office locations (Boston, Los Angeles, New York, Oakland, and Philadelphia); however, remote locations will be considered as well. Though we are currently working remotely and will not require attendance in any office until Summer 2021 at the earliest. There is a potential for up to 20% travel once it’s safe to do so.
The Manager, NMTC will report to the Director, NMTC who is based in New York, NY.
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Primary Duties and Responsibilities: *
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Develop relationships with clients and support them as transactions move through intake, underwriting, closing, and post-closing serving and monitoring.
- Manage NMTC investment pipeline and deployment in partnership with Director, NMTC and oversee reporting to investors and regulatory agencies.
- Review and approve loan invoices and investor distributions to ensure compliance with partnership agreements and tax credit regulations.
- Partner with the Finance and Administration team to ensure NFF is in compliance with the finance-related aspects of our NMTC program, including loan servicing, financial review and reporting, audit and tax return preparation, and other compliance-related functions.
- Manage the NMTC investment portfolio post-closing, including collecting reporting and monitoring covenant compliance, leading NMTC unwinds, understanding market risk, and evaluating client financial performance and credit risk.
- Support application for NMTC allocation authority, including drafting and editing narrative sections, supporting the development of a transaction pipeline, and obtaining necessary impact data.
- Facilitate NMTC presentations and training to NFF staff and external audiences.
- Oversee the management of the NMTC advisory board.
Essential Requirements for Education and/or Experience:
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You have a minimum of five years of relevant professional work experience, including structuring, underwriting, closing, and / or asset managing NMTC transactions
- You have a strong relationship-building approach with the ability to center the needs of clients and communities while balancing credit decisions
- You have strong analytical skills and can present complex analytics in an accessible manner
- You have excellent organizational skills and attention to detail
- You possess excellent project management skills
- You are a self-starter who can move complex projects forward without heavy oversight
- You are flexible, adaptable, and willing to pivot on short notice to meet the organization’s needs
- You are proficient with Microsoft Office Suite and Salesforce (strongly preferred)
- You have experience in compliance or asset management (strongly preferred)
- You have experience in one or more NFF’s core sectors – charter schools, community health centers, human services, and supportive housing (strongly preferred)
- You embody NFF’s mission, core values and commitment to equity
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Compensation*
At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer. The salary range for this position begins at $85,000. NFF also provides an attractive benefits package that includes health insurance, retirement plan, paid time off, standard holidays, and commuter benefits.
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Please Note: *
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All salaries are commensurate with experience and include an attractive benefits package._
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT_ include any of the following information with your job application: Social Security number; driver’s license number or state-issued identification card number; financial account number, or credit or debit card number._
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Job Type: Full-time