Leadership role
CFO / Head of Finance
The organization's senior finance executive, accountable for financial strategy, reporting, controls and the stewardship of restricted funds.
Reporting and scope
Reports to the Executive Director / CEO and works directly with the board's finance and audit committees. Authority covers the whole organization's finances.
Core responsibilities
- Leads the annual budget and multi-year financial plan
- Produces audited financial statements and the Form 990 with the outside auditors
- Maintains internal controls and audit readiness
- Tracks compliance on grants and restricted gifts, including federal award requirements
- Manages cash, reserves and investments alongside the investment committee
- Often oversees HR, IT or facilities in smaller organizations
How it differs
The Controller / Comptroller and Director of Finance run the accounting function but are not the board-facing owner of financial strategy. The board Treasurer is a volunteer officer, not staff.
By organization size
Below about $10M in revenue the role is often hands-on and combined with operations. Above about $50M it typically leads a finance team with a Controller reporting to it.
Filings from the last five years mapped to this role commonly report titles such as: CFO; Chief Financial Officer; CFO/COO; CFO/Treasurer; Treasurer/CFO; Chief Finance Officer