Chief Financial Officer (CFO)
Location: LIHI Main Office, International District of Seattle, WA
Hours: Full time
Reports To: Executive Director
Pay Range: $190,000-215,000 annually
Position Type: Exempt, non-union
Organization Overview
Low Income Housing Institute (LIHI) is a non-profit organization dedicated to providing safe, affordable, and high-quality housing and services for low-income families and individuals in the Puget Sound area. Our mission is to transform communities through sustainable development and comprehensive resident support. We manage a portfolio of over 3,600 units of affordable rental housing.
The Chief Financial Officer (CFO) is a key member of the Executive Team, reporting directly to the President/CEO. The CFO will be responsible for the overall financial strategy, planning, analysis, and management of the organization, ensuring financial sustainability and compliance with all regulatory and funding requirements. The ideal candidate will have extensive experience in non-profit finance, affordable housing development and operations, and government funding sources, particularly HUD, Low-Income Housing Tax Credits (LIHTC), and tax-exempt bond financing.
Responsibilities
Financial Management and Strategy
Develop and execute the organization's financial strategy to support mission fulfillment and long-term sustainability.
Oversee all accounting and financial reporting functions, including the annual audit, tax filings (Form 990), and general ledger management.
Manage treasury functions, including cash flow forecasting, banking relationships, and investment management, ensuring optimal liquidity for operations and development.
Prepare and present accurate and timely financial statements, forecasts, and reports to the CEO, Board of Directors, and finance committee.
Budgeting and Planning
Lead the annual organizational and property-level budgeting process, working collaboratively with department heads and property management.
Monitor budget variances and provide proactive guidance to department heads for corrective action.
Develop complex financial models and projections for proposed housing developments and financing structures.
Affordable Housing Finance and Compliance
Manage compliance with complex regulatory requirements, including those related to LIHTC, HUD programs (e.g., Section 8), and bond financing.
Oversee the financial aspects of real estate development and acquisition, including securing, structuring, and closing financing for new projects.
Ensure the timely and accurate submission of all required reports to government agencies, investors, and lenders.
Team Leadership and Operations
Direct and manage the full finance and accounting department, including senior managers, accountants, and support staff, ensuring a high-performance culture of accountability.
Implement structured training and mentorship programs to build a robust internal talent pipeline and improve departmental efficiency.
Drive the modernization of accounting workflows by integrating new software solutions to eliminate manual entry and streamline inter-departmental reporting.
Lead the department with a service-oriented mindset, ensuring the accounting team provides clear, timely, and supportive guidance to site managers and regional directors.
Minimum Qualifications
Bachelor's degree in Accounting, Finance, or a related field required. CPA and/or Master's degree (MBA) strongly preferred.
Minimum of 12 years of progressive experience in senior financial management, with at least 5 years in the affordable housing or non-profit real estate sector.
Minimum of 7 years in a direct supervisory role, with proven experience managing a large accounting team through organizational scaling.
Deep understanding of Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, and various HUD programs (e.g., Section 8, FHA financing).
Exceptional analytical, strategic planning, and leadership skills. Proficiency in financial software and Enterprise Resource Planning (ERP) systems.
Demonstrated ability to handle complex personnel issues, conduct performance reviews, and lead staff through significant process and software transitions.
Thorough understanding of federal audit requirements (Single Audit/Uniform Guidance) and non-profit accounting standards (GAAP).
Experience managing the "human" side of finance - specifically training non-financial managers on budget adherence and financial responsibility.
Experience overseeing the selection and implementation of ERP systems and digital workflow tools.
Benefits for this position:
Generous vacation and sick leave
10 paid holidays and 1 floating holiday
Employer-Paid Medical, Dental, and Vision (with HRA, HSA & FSA options)
Employer-Paid Life and AD&D Insurance
401k offered for unionized employees (through OPEIU8)
403b offered for non-union employees
Employee Assistance Program
Travel Assistance Program
Aflac offered for all employees
About us:
The Low Income Housing Institute (LIHI) has a 30-year history and track record of owning and managing low-income housing; developing innovative solutions to homelessness; advocating for housing justice; providing supportive services; and operating hygiene services for homeless people at our Urban Rest Stops. LIHI staff have developed over 5,000 affordable housing units and manages over 3,000 units including rental housing, permanent supportive housing and transitional housing. The populations served include: families, singles, seniors, veterans, young adults, immigrants, low wage workers, and people living with physical and mental disabilities. LIHI is one of the largest nonprofit housing organizations in the state. Our properties are located in Seattle, King County, and five adjacent counties. LIHI is a national leader in sponsoring tiny house villages as a crisis solution to homelessness. Annually, the tiny house villages and shelters serve 2,000 homeless people and our hygiene programs serve over 8,000 homeless people. LIHI staff is collaborative, dynamic, and dedicated to taking bold steps in ending homelessness and creating supportive communities for people to thrive.