Fractional Controller

Description

The Community Foundation’s finance function stewards a complex portfolio — including several hundred donor-advised and restricted funds, multiple endowments, and an outsourced investment management relationship — while supporting a team executing thousands of transactions annually. The careful and expert oversight of our financial and accounting functions enables the Community Foundation to reliably facilitate the philanthropy of generous contributors and to ensure the sustainability of our assets to deliver on our mission now and into the future.

The Fractional Controller is a senior finance professional who brings deep community foundation expertise and operates with full independence across the core financial management functions of the organization. Working in close partnership with the Chief Operations and Finance Officer (COFO), this role provides dedicated finance bandwidth so that the organization’s financial operations — accounting, reporting, compliance, and external relationships — are performed at the highest level of accuracy, timeliness, and institutional integrity.

This is a temporary engagement with a clear purpose: to ensure continuity of the Foundation’s financial operations while serving as a mentor and technical resource to the finance team as internal staff develop into more senior roles. The ideal candidate is a seasoned professional who can perform at the highest level from day one while also investing in building the internal capacity that will sustain the Foundation’s finance function long-term.

Mentorship & Knowledge Transfer:
– Serve as a hands-on mentor to team members, providing structured guidance, coaching, and technical development across the full scope of Controller-level responsibilities
– Collaboratively develop a knowledge transfer plan with defined milestones and a progressive handoff of responsibilities over the course of the engagement
– Model best practices in financial management, communication with stakeholders, and professional judgment in a community foundation context
– Provide regular feedback and progress assessments to the COFO on the Finance Team’s
development trajectory.

Accounting Operations and Month-End Close:
– Ensure prompt and accurate execution of the Foundation’s weekly transaction cycle, including accounts payable, accounts receivable, contributions receipts, grant distributions, and Foundant CSuite data entries
– Lead or support month-end, quarter-end, and year-end close processes, with reconciliations and financial statements completed by the 25th of the following month
– Maintain and strengthen internal controls, financial policies and procedures, and accounting operations consistent with leading community foundation practices
– Ensure compliance with all applicable financial, accounting, legal, and regulatory requirements, including US GAAP and FASB standards as they apply to nonprofit organizations (ASC 958)

Financial Reporting:
– Prepare monthly, quarterly, and annual financial statements and narrative analyses for internal leadership and external stakeholders
– Ensure the accurate and timely reporting of investment activity, fund balances, and earnings allocations to donors and fundholders
– Partner with relationship managers to provide timely financial information, fund-level reporting, and context needed to communicate effectively with donors, fundholders, and external stakeholders

Board and Committee Reporting:
– Prepare clear, accessible financial reports and supporting materials for the Finance & Audit Committee and Investment Committee of the Governing Board
– Attend quarterly Governing Board meetings and relevant committee meetings, and serve as a knowledgeable, reliable financial resource for board members and committee chairs
– Provide financial and operational information that supports sound governance and decision-making — translating complex data into formats accessible to lay and professional audiences alike

Budget and Forecasting:
– Support development and monitoring of the Foundation’s annual operating budget in partnership with the COFO and department leadership
– Prepare variance analyses and forward-looking financial projections to support strategic planning and organizational sustainability
– Develop and maintain financial dashboards and performance measures

Audit and Tax Compliance:
– Project-manage the annual audit process, including preparation of all schedules, reconciliations, and PBC (Prepared by Client) materials, and serve as the primary point of contact for external auditors
– Oversee the timely preparation and filing of the annual Form 990 in coordination with external tax advisors
– Ensure compliance with Governing Board–approved financial and investment policies; support the Finance & Audit Committee in maintaining best-practice standards

OCIO and Investment Reporting:
– Serve as a liaison to the Community Foundation’s Outsourced Chief Investment Officer (OCIO)
– Reconcile investment statements, track endowment distributions and spending policy calculations, and ensure accurate reflection of all investment activity in the Foundation’s books
– Ensure compliance with Board-approved investment policies; support the Investment Committee with data, analysis, and reporting as needed
– Represent the Foundation to external financial partners, including banks, auditors, and investment advisors, as required

Fund Accounting and Donor Stewardship:
– Maintain accurate and complete records of donor-advised funds (DAFs), restricted gifts, agency endowments, and pass-through grants consistent with gift agreements and regulatory requirements
– Ensure fund balances, earnings allocations, and distribution histories are properly documented and accessible in Foundant CSuite and supporting systems
– Partner with the Philanthropic Engagement team to provide timely and accurate fund reporting to donors and fundholders

Skills Required

Required:

– Seven or more years of directly relevant financial management experience at a senior level, including significant experience with a community foundation or similar philanthropic organization
– Demonstrated expertise in nonprofit fund accounting, including the management of restricted and unrestricted assets, donor-advised funds, agency endowments, and grant distributions
– Prior experience as a primary finance liaison to an OCIO, investment consultant, or equivalent investment management partner, including reconciliation of complex, multi-asset portfolios
– Proven track record preparing financial materials for and presenting directly to boards of directors, finance committees, and senior leadership in a nonprofit or community foundation context
– Strong working knowledge of US GAAP, FASB standards (ASC 958), and IRS requirements as they apply to public charities
– Proficiency in fund accounting systems; experience with Foundant CSuite or comparable platforms preferred
– Demonstrated ability to mentor, coach, and develop finance professionals — with patience, clarity, and a commitment to building others’ capacity

Preferred:
– CPA designation
– Bachelor’s degree in accounting, finance, business, or a related field; advanced degree a plus
– Experience with multi-fund community foundation structures, including DAF administration and agency fund relationships
– Prior experience in a mentorship, training, or capacity-building role within a finance team

Work Schedule

Fractional consulting engagement at approximately 20 hours per week. Hybrid. Charlottesville, VA preferred.

This is a fractional, hourly-based consulting engagement. The scope and schedule will be determined collaboratively based on organizational needs and the candidate’s availability, with a focus on ensuring the Foundation’s core finance functions are reliably covered throughout the engagement. Some week-by-week variation in workload is expected, particularly around month-end close, committee meetings, and the annual audit cycle.

Additional Info

To apply: Applications will be reviewed on a rolling basis until May 11, 2026.
Submit the following in an email to careers@cacfonline.org. Include “Fractional Controller” in the subject line.
1. Résumé
2. Cover letter (Please address how your lived experiences and past work history have prepared you for this position—specifically how you will align with the foundation’s racial equity journey, which is built upon practices of inclusivity, mutual aid, solidarity, liberation, healing, and power-building).