Executive Director

Job Title: Executive Director

Classification: Full-time / exempt; salary

Reporting Structure: Reports to Board of Directors

WHO WE ARE

20Fathoms is Northern Michigan’s startup incubator and accelerator, focused on building high-growth companies. Our mission is to be the region’s home for innovation and entrepreneurship by cultivating a thriving, connected ecosystem for early-stage, scaling companies.

With emphasis on a team-first, energetic culture, we build and accelerate companies by providing the structure, resources, and support founders need to move from concept to market to scale. 20Fathoms partners with high-potential entrepreneurs to drive meaningful progress, through focused programming, expert mentorship, access to capital, and a strong network of peers and partners. We also provide a community space that feeds that pipeline and enables collisions.

WHO YOU ARE

As the Executive Director of 20Fathoms, you are accountable for all aspects of 20Fathoms’ vision, mission, values, and execution. You are the public face of the organization. You develop and lead your team with clear alignment to objectives and ensure future sustainability of the organization. You care deeply about the success of startups in the region and place a significant priority on the region’s development and growth. You seek feedback from, collaborate with, and report to the Board of Directors.

• Vision and Strategy Leader. You have an executive presence. You are responsible for the 5+ year organizational vision and its operational execution.
• Operational Leader. You are responsible for the day-to-day execution of the organizational vision and strategy. This includes everything from facility management to Annual Operating Plan development to allocation of funding expenditures. You also maintain a regular presence in the office.
• Financial Steward. You have significant financial acumen. You are responsible for making sure 20Fathoms meets all near-term expense requirements as well as future multi-year planning. You are also responsible for ensuring adequate income – across donor, sponsor, grant, and program income as well as appropriate governance and internal controls, ensuring all compliance requirements are met. You understand Federal and State Grant management and compliance. You collaborate with the CFO to manage the affairs of the organization with frugality, never losing sight of appropriate stewardship of our funding and funders.
• Fundraiser and Revenue Builder. You are excited to fundraise and enjoy working with donors and sponsors to achieve the best outcome for all parties. You believe that philanthropy is essential to a thriving ecosystem.
• Organizational Management and Ecosystem Leader: You are responsible for the hiring, development, and management of a team of 5-15 individuals aligned with the objectives of the organization. You have a passion for supporting entrepreneurs and founders across the ecosystem with the end-goal of creating highly skilled jobs in the NW Region of Michigan. You attend most 20F events.
• Chief Advocate. You develop and maintain crucial relationships with other community, regional, and state-wide supporters and influencers. You are frequently called upon to speak publicly about the mission and progress of 20Fathoms. You maintain and grow the strength of the 20Fathoms’ brand. You are the go-to person for high-growth companies and entrepreneurship topics from around the region and state.
• Entrepreneur at Heart. You have experience as a founder or entrepreneur. You have a passion for leadership and autonomy, enjoying ultimate accountability. You are biased to action with a sense of urgency.
• Team and People Developer. You see the strengths and weaknesses in individuals and the team and work to improve the collective through development and management of your team. You maintain regular on-site availability for unhindered people access.
• Excellent Communicator. You excel in verbal and written communication. You are organized and analytical, while able to maintain interpersonal relationships.
• Visionary. You appreciate where an organization has been, where it currently is, and what it could become. You can see the path ahead and determine a path to get there.
• Community centric. The ecosystem is our community and 20Fathoms does not exist without the community and its partners. You are adept at networking and understand the essential nature of being present and truly listening. You are willing to put entrepreneurs and members first to ensure their success.
• Adaptable. You know how to quickly adapt to different situations, styles, and stakeholders.
• Legally minded. You are comfortable reviewing legal documents.
• Positive Attitude. You have a can-do, positive attitude. You are willing to take on new challenges and never stop learning.
• Team Player. You are willing to do almost anything to ensure the success of the community and its members. You are willing to scrub the floor and whatever else may be necessary to successfully deliver on the mission.

WHAT YOU’LL DO

• Visionary Leadership . You are the public face of the 20Fathoms’ mission as the principal exponent of its mission. You are an energetic, aspirational leader to your professional staff. You articulate and deliver the organization’s growth and path forward. You consistently participate in 20Fathoms’ events.
• Entrepreneurship Programming . You champion our founders by designing and delivering the right programming at the right time for the right audience. You believe in their potential, often before others do, and create experiences that help them build, validate, and scale. You ensure alignment across the organization around shared objectives and measurable outcomes, while meeting founders where they are in their journey.
• Set Priorities. You determine appropriate organization-wide priorities and maintain alignment across various teams and contributors.
• Community Collaboration. You communicate and collaborate with key partners throughout the region and state. You build and maintain those critical relationships, ensuring effective partnerships and the reputation of 20Fathoms. You constantly solicit feedback and input across partnerships to ensure alignment.
• On-Site Leadership and Accessibility. You are a consistent, approachable, and visible presence on-site, creating energy, connection, and accessibility within the space. You make yourself readily available to founders, staff, and partners, fostering an environment where entrepreneurs feel supported, heard, and able to engage in real time as they build and scale.
• Revenue Generation . You are responsible for all aspects of income, from individual donor development to corporate sponsorships to current and future grant income.
• Communications and Reporting. You prepare and present clear and concise briefing materials and presentations for the Board of Directors and work collaboratively with the Board to execute on the organization’s Vision and Mission.
• Financial Management. You are responsible for the financial viability of the organization – ensuring cash flow health at all times, managing the budget, and accurately projecting future needs and expectations – all while maintaining transparent, compliant, and auditable financial records. You ensure all appropriate grant compliance reporting takes place accurately and on time.
• Organizational Compliance. You are accountable for all organization-wide leadership of nonprofit and grant program compliance. This includes, but is not limited to, maintaining systems access for government and grant agency systems, ensuring organization-wide grant compliance objectives are met, reporting compliance in alignment with government and grant specifications on time, and ensuring all state and federal nonprofit and solicitation registrations are maintained and up to date - leveraging appropriate financial controls.

BACKGROUND AND EXPERIENCE

• BA/BS required, advanced degree preferred in a relevant technology or business discipline or equivalent experience with a technical background
• Experience scaling businesses from 2-20 employees
• Experience leading a business or business unit with at least 5 full time employees and commensurate annual budget
• Knowledge of and/or experience with nonprofit organizations and grant compliance helpful
• Knowledge of tech and/or startup sector
• Relationships, particularly local/regional relationships, that allow you to appropriately network, advocate, and influence on behalf of the region
• Public speaking proficiency
• Experience managing commercial business relationships, including ongoing procedures and leases, contracts, and agreements
• Proficient with CRM software applications (HubSpot preferred) helpful

WORKING CONDITIONS

• Compensation. This is a full-time exempt position, salaried at $115,000-$135,000 per year.
• Benefits . Health, dental and vision insurance premiums are fully paid by 20Fathoms for the employee, eligible for coverage 1st of the month following hire. Employees may purchase coverage for eligible family members via payroll deduction. Retirement plan includes options for 401k and/or Roth, eligible to participate after 1 month of service. Customary paid holidays and generous paid time off (PTO) policy. On-site fitness center use included.
• On-site presence. Predominant work location will be at the 20Fathoms main office location in Traverse City, MI – presence at the main office is critical.
• Event attendance. Evening event attendance at main site and with community partners is required from time to time.
• Travel. Some planned travel for meetings and/or conferences.