Chief Financial Officer

Description

About Prospera

Prospera has been empowering families since 1993 by providing safe, high-quality affordable housing with support services to those in need. As a mission-driven, values-based nonprofit, Prospera is committed to fostering family stability and a strong sense of community by addressing individual needs.

At the heart of our work are our core values: integrity, accountability, excellence, commitment, dignity, fairness, and respect. These core values serve as our guiding principles and shape everything we do, from how we serve our residents, to how we support one another as a team.

At Prospera, every team member plays a vital role in advancing our mission. We welcome passionate individuals who are ready to make a meaningful difference in the lives of others.

POSITION SUMMARY

The Chief Financial Officer (CFO) serves as a strategic and operational leader responsible for stewarding Prospera Housing Community Services’ financial health, sustainability, and compliance in support of its mission to provide and preserve high-quality affordable housing for low-income communities. Reporting to the Executive Director/CEO and serving as a key member of the senior leadership team, the CFO oversees all financial operations, risk management, and financial strategy across a complex portfolio of housing assets, funding sources, and regulatory requirements.

ESSENTIAL JOB DUTIES/RESPONSIBILITIES:

Strategic & Executive Leadership

· Partners with the Executive Director/CEO and Board of Directors to develop and implement long-term financial strategy that supports the organizational mission and growth

· Provides timely, accurate financial analysis and insights to inform strategic decisions, capital planning, and organizational sustainability

· Serves as lead staff to the Board, Finance and Audit Committees, preparing materials and presenting financial results and projections

· Represents the organization through participation in trade and industry associations

· Represents the organization by attending meetings and functions held with government, banking institutions, funding agencies and other stakeholders

Financial Management & Reporting

· Directs all accounting, budgeting, forecasting, and financial reporting functions in accordance with GAAP and nonprofit accounting standards

· Oversees preparation and monitoring of annual operating budgets, multi-year financial forecasts, and cash-flow projections

· Ensures accurate consolidation and reporting across multiple properties, entities, and funding streams

· Prepares corporate budgets with departmental input

· Develops, publishes and maintains Policy and Procedures Manual for the financial activities of the organization, including documenting and monitoring internal financial controls

Housing Finance & Compliance

· Oversees financial management of affordable housing programs, including LIHTC (Low-Income Housing Tax Credits), HUD-funded programs, Section 8, and other public or private funding sources

· Ensures compliance with federal, state, and local regulations, funder requirements, and partnership agreements

· Coordinates property-level financial performance analysis, reserve planning, and long-term asset sustainability

Audit, Risk & Internal Controls

· Leads annual audits and tax filings (including Form 990), serving as primary liaison to external auditors, investors, and regulators

· Establishes and maintains strong internal controls, risk-management practices, and financial policies and procedures

· Ensures organizational adherence to best practices in financial governance and transparency

Treasury & Cash Management

· Manages cash, debt, investments, and banking relationships

· Oversees financing activities including loans, refinancing, bond issues, and capital structures for housing developments and renovations

· Monitors covenant compliance and investor reporting requirements

Grants, Contracts & Funding Support

· Supports grant development and contract negotiations by providing financial models, budgets, and compliance oversight

· Ensures proper tracking, reporting, and reconciliation of restricted and unrestricted funds

Team Leadership & Operations

· Leads and mentors finance staff; fosters a collaborative, high-performance culture grounded in accountability and mission focus

· Creates an atmosphere for open, two-way communications so that Prospera’s financial departments and front-line staff may provide input into the accounting process to improve firm’s product

· Recruits, trains, motivates and evaluates the performance of financial department personnel reporting to the Chief Financial Officer

· Evaluates and improves financial systems, property management integrations, and reporting tools to enhance efficiency and accuracy

· Collaborates closely with Property Management, Development, Asset Management, and HR teams

Performs other duties as assigned by the CEO

KNOWLEDGE/SKILLS/ABILITIES

· Thorough, experience-based knowledge and understanding of the principles and methods of financial administration, particularly in the areas of accounting, budgeting, auditing, grants management and investments

· Knowledge of federal, state and local laws, rules and regulations relating to the financial administration of public agencies

· Knowledge of LIHTC and HUD’s Programs and Regulations relating to multifamily housing properties preferred

· Working knowledge of computer hardware and both general ledger and property management software

· Knowledge of the techniques of program analysis and revenue forecasting

· Knowledge of the principles and techniques of budget development and administration. Ability to plan, direct, monitor and evaluate the services and activities associated with the financial activities of the Company

· Ability to develop, install and maintain sound accounting and financial reporting systems and procedures

· Skills and ability to prepare complex financial reports and analyses

· Ability to supervise and evaluate the performance of Departmental staff

· Knowledge of and ability to interpret and apply policies, procedures, rules and regulations and federal, state and local laws, rules and regulations relating to financial activities

· Ability to coordinate and facilitate meetings

PERSONAL ATTRIBUTES

· Mission-driven leadership with strong ethical standards

· Strategic and analytical thinking

· Clear, persuasive communication with financial and non-financial audiences

· Detail orientation combined with big-picture perspective

· Collaborative leadership and people development

Requirements

EDUCATION AND EXPERIENCE REQUIRED

· Bachelor’s degree in Accounting, Finance, Business Administration, or related field required – MBA preferred

· Minimum of 15 years of progressive financial leadership experience required, with experience in nonprofit finance and affordable housing

· Minimum of two years of audit or tax procedures experience

· Current Texas CPA license required

· Proven experience working with Boards of Directors and senior leadership teams

· Experience supporting housing development transactions, limited partnerships, LIHTC and capital financing preferred

COMMUNICATION AND CONTACTS REQUIRED

· Maintains a positive work environment by creating job motivation

· Presents ideas clearly and influentially through various means

· Identifies/shares important information in a timely manner; appears knowledgeable and confident in communicating information.

· Ensures all administrative processes involving employees are handled on a timely basis

· Fosters a positive work environment embracing the Mission and Core Values of Prospera ( Integrity, Accountability, Excellence, Commitment, Dignity, Fairness and Respect ).

SUPERVISORY RESPONSIBILITIES:

The CFO classification is an executive classification which exercises general supervision over professional, technical, and clerical staff involved in the performance of the services and