Chief Financial Officer

Job Description

Job Description

Job Title: Chief Financial Officer

Classification: Full-time, Exempt
Reports to: Executive Director
Location: Midtown, Manhattan

Status & Hours: Full-time, daytime hours. Lantern staff may be asked to alter their work schedule depending on the operational needs of the organization.

Who We Are: Lantern Community Services helps New Yorkers impacted by homelessness move from surviving to thriving by pairing safe, supportive housing with wraparound services that build lasting stability and independence. If you believe a steady home can be the start of everything else, you'll fit right in with our mission-first team. Lantern was also recognized as a Top 2025 Workplace by City & State New York - a great place to do meaningful work with people who care!

About the Role: The Chief Financial Officer (CFO) is the senior-most financial executive at Lantern Community Services and is a core member of the senior leadership team. Reporting to the Executive Director, the CFO holds full accountability for the financial health, integrity, and strategic direction for Lantern. Ownership of accounting and financial reporting, budgeting and forecasting, government contract financial oversight and claiming, treasury and cash management, audit and regulatory compliance, and financial systems.

Lantern’s revenue is overwhelmingly government-contracted directly reimbursed via line-item claim submissions, requiring strong cash management, claiming discipline, cost allocation methodology, and rate/contract negotiation skills. The CFO is expected to translate a demanding contract environment into a durable financial model, to Executive Director and the Board’s Audit & Finance Committee a clear and honest read of the organization’s position at all times, and to serve as a credible voice with founders, government agency partners, auditors, and lenders.

The successful candidate combines technical depth in nonprofit and government contract accounting with the judgement and presence to sit at the executive table and shape decisions well beyond the finance function.

Essential Functions: Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Financial Strategy and Executive Leadership:

• Strategic partnership . Serve as principal financial advisor to the Executive Director, providing analysis and recommendations on program expansion, new site development, contract pursuit, capital needs, and organizational risk.
• Multi-year planning . Build and maintain multi-year financial projections and scenario models that reflect contract cycles, rate assumptions, occupancy, client census and staffing plans.
• Board Engagement . Serve as staff lead to the Finance and Audit Committee. Prepare financial reporting packages, present at Board meetings, and ensure Board members receive accurate, timely, and decision -useful information.
• Business Case Development . Evaluate the full financial implications of new programs, sites, and service delivery lines – including “true costs,” indirect costs and recovery, ramp-up period, and downside exposure – before commitments are made.
• Sector Representation . Represent Lantern in coalition and advocacy settings addressing nonprofit contract payment practices, indirect cost recovery and government funding adequacy.

Accounting, Reporting, and Internal Control:

• Financial operations.  Direct all accounting operations, including general ledger, accounts payable, accounts receivable, payroll accounting, fixed assets, and month-end and year-end close.
• Financial reporting.  Produce accurate and timely internal financial statements, program-level and site-level reporting, and variance analysis for management and the Board.
• GAAP compliance.  Ensure all financial reporting conforms to U.S. GAAP as applicable to not-for-profit organizations, including net asset classification, contribution and grant revenue recognition, functional expense allocation, and lease accounting.
• Internal controls.  Design, document, implement, and monitor a system of internal controls sufficient to safeguard assets, prevent and detect error and fraud, and satisfy funder and auditor expectations.
• Policy administration.  Maintain and periodically update fiscal policies and procedures, including procurement, expense authorization, signature authority, and conflict-of-interest provisions.

• Contract portfolio management.  Oversee the financial administration of a diverse contract portfolio spanning federal, New York State, and New York City funders, including HUD Continuum of Care, DHS, HRA and HASA, ESSHI, and other program funding streams.
• Claiming and reimbursement.  Direct the preparation and submission of contract vouchers, invoices, and claims. Ensure claiming practice reflects current agency standards — including reimbursement-basis requirements tied to expenses actually paid — and that supporting documentation withstands audit.
• Receivables and cash.  Actively manage government receivables, aging, and collection escalation. Maintain constructive working relationships with agency fiscal contacts to resolve payment delays, invoicing structure issues, and contract registration bottlenecks.
• Cost allocation and indirect recovery.  Own the organization’s cost allocation plan and indirect cost rate strategy, including negotiated rate applications and maximization of allowable indirect recovery across the portfolio.
• Budget modifications.  Prepare and negotiate contract budgets, budget modifications, and renewal submissions in coordination with program leadership.
• Regulatory compliance.  Ensure compliance with Uniform Guidance (2 CFR Part 200), federal certification and registration requirements, prevailing wage obligations, and applicable city and state fiscal manuals and directives.

Budgeting and Financial Planning

• Annual budget.  Lead development of the annual organizational operating budget in partnership with program, human resources, and administrative leadership, and present the recommended budget to the Executive Director and Board for approval.
• Forecasting.  Maintain rolling forecasts and reforecast in response to census changes, contract awards, rate adjustments, and unanticipated expense.
• Departmental accountability.  Provide program directors and department heads with the reporting, tools, and coaching needed to manage their budgets effectively.
• Position control.  Partner with human resources on personnel budgeting, position control, and the financial modeling of compensation adjustments and benefit plan changes.

Treasury, Audit, and Risk

• Cash management.  Manage cash flow forecasting, operating reserves, banking relationships, lines of credit, and short-term borrowing needs arising from reimbursement timing.
• Audit.  Serve as principal liaison to the independent auditors. Lead preparation for the annual financial statement audit and Single Audit, and ensure timely, clean completion with no material weaknesses.
• Regulatory filings.  Oversee preparation and filing of the IRS Form 990, New York State CHAR500, and all other required fiscal and regulatory filings.
• Funder audits and monitoring.  Manage agency fiscal monitoring visits, program audits, and corrective action responses.
• Insurance and risk.  Coordinate with organizational leadership on insurance coverage, risk assessment, and financial exposure related to properties, programs, and employment practices.

Systems, Team, and Infrastructure

• Financial systems.  Own the financial systems environment and drive integration between accounting, payroll, and program data platforms to reduce manual effort and strengthen data integrity.
• Process improvement.  Continuously improve close cycles, reporting timeliness, and reconciliation practices.
• Team leadership.  Supervise, develop, and retain a high-performing finance team. Set clear expectations, build depth and cross-coverage, and create genuine professional growth pathways.
• Cross-functional collaboration.  Work closely with human resources, information technology, facilities, procurement, and compliance colleagues to ensure administrative functions operate as an integrated whole.

Required Qualifications:

• Bachelor’s degree in accounting, finance, business administration, or a closely related field.
• A minimum of ten years of progressively responsible financial management experience, including at least five years at a senior leadership level (CFO, Deputy CFO, Controller, or Vice President of Finance).
• Demonstrated experience leading finance for a nonprofit organization with an operating budget of $25 million or greater.
• Substantial experience with government contract finance, including reimbursement-based claiming, cost allocation, indirect cost rate negotiation, and contract budget administration.
• Working command of U.S. GAAP for not-for-profit entities and of Uniform Guidance and Single Audit requirements.
• Proven track record managing independent audits with clean results.
• Advanced proficiency with nonprofit accounting systems and strong Excel modeling capability.
• Demonstrated success supervising and developing finance staff.
• Excellent written and verbal communication skills, including the ability to make financial information accessible to non-financial audiences such as program leadership and Board members.

Preferred Qualifications

• CPA and/or MBA.
• Direct experience in supportive housing, homeless services, behavioral health, or a related human services field.
• Familiarity with New York City and New York State human services contracting — including HUD CoC, DHS, HRA/HASA, ESSHI, and the applicable fiscal manuals and payment systems.
• Experience with capital projects, real estate financing, tax credit structures, or facility development.
• Experience leading financial systems implementation or major process redesign.
• Experience supporting an organization through a period of significant growth.

• Bachelor’s degree in accounting, finance, business administration, or a closely related field.
• Minimum of ten years of progressively responsible financial management experience, including at least at five years at a senior leadership level (CFO, Deputy CFO, Controller, of Vice President of Finance)
• Demonstrated experience leading a finance for a nonprofit organization with an operating budget of $25 million or greater.
• Strong oral and written communication skills with attention to detail and organization.
• Strategic thinker with outstanding judgment and impeccable integrity.
• Results-oriented with the ability to balance big-picture thinking with tactical execution.
• Ability to facilitate positive change within a complex organization and support a positive environment for employees and effective services to clients.

Work Environment: This position operates in an office environment. Occasional travel to housing and shelter sites and other locations throughout New York City may be required for trainings or meetings.

Physical Demands: While performing the duties of this job, the employee is regularly required to sit, stand, walk, stoop, climb stairs, and/or kneel. They must also use their hands to type, handle, or feel. The employee is frequently required to talk or hear and must occasionally lift and/or move up to 5 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role.

Other Duties: Please note this job description is not designed to cover or contain a comprehensive listing of all activities, duties, or responsibilities required of the employee. Duties, responsibilities, and activities may change at any time with or without notice.

Equal Opportunity Employer: Lantern Community Services provides equal employment opportunities to all employees and applicants. Lantern values the diversity of our clients, staff, Board of Directors, and partners. By bringing diverse individuals and viewpoints together, we create more vibrant, healthy, and just communities.