Finance Associate

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Boys and Girls Club of Newark Published: December 8, 2016 (10 months ago)


What will I be doing in this position?


The Fellow will work with the Boys and Girls Club of Newark with a variety of accounting, financial, and consulting services. He or she will be able to see the “big picture,” and provide guidance that helps to inform decision-making in order to build long-term infrastructure that ensures the fiscal health of the organization. The individual will work closely with the finance and development departments to begin crafting a plan to build a 6 to 18-month cash reserve, which will lay the foundation for an endowment fund. Specific responsibilities include:


-      Create year-end budgeting as well as project or program specific budgeting for grant proposals.

-      Prepare ad-hoc reports for leadership, board members, and donors

-      Perform “month-end close,” which includes reconciling the balance sheet accounts, posting month-end journal entries, and creating financial reports.

-      Develop and document internal control policies and procedures

-      Attend board meetings and help present financial reports

-      Help prepare cash flow reports and budgets.

-      Ensure that Boys & Girls Club of Newark is prepared for internal and external audits.

-      Supports the long-term vision of the organization with accurate financial information that inform decision making of CEO and board.

-      Provides support to the Department of Culture and Development as needed.


What skills and qualifications do I need to be successful in this position?


The fellowship applicant must be flexible, and must be able to adapt to an environment that is progressing and changing. He or she must be patient and understand that rules and processes are in the process of being established --so he or she must have a "can do" attitude. In addition to this personality, the candidate must demonstrate the following qualifications:


-      A college graduate with some experience in financial management or accounting who wants to advance your individual and professional development The experience can be volunteer or summer job based.

-      Mission-driven and have the desire to learn more about the inner-workings of non-profit finances, reporting, and fundraising

-      Eager to grow your transferable skills in financial management as it relates to a small business or non-profit organization

-      Someone who can work independently with complicated figures

-      Interested in working with our staff, children, and Board of Directors

-      Someone with a firm grasp of generally accepted accounting principals

-      Able to understand and communicate the fiscal rules that govern organizations with a 501c3 designation

-      An entrepreneurial spirit


How will this position help me grow professionally?


The position at BGCN will help the fellow strengthen their financial analysis skills in a way that will provide a stepping stone for other finance positions both within the nonprofit and private sectors. The fellow will play an integral role in establishing new processes and thinking about the financial future of the organization.


What is the organization's mission and history?


The mission of the Boys & Girls Club of Newark is to enable all the city's youth, especially those who need us most, to become caring, productive, and responsible citizens.


During the school year, we implement a range of academic, character building, and physical fitness programs for more than 500 youth (aged 5 to 18) across the city from 3-7 pm on a daily basis both at our standalone Clubhouse and at school sites across Newark.


In the summer, we implement an academic enrichment curriculum called Brain Gain, aimed at combating summer-learning-loss that all children experience. BGCN originated in 1938 and has helped thousands of children across the city to achieve academic success, to build citizenship, and to lead healthier lifestyles.


However, the complexities of social and emotional reality of living in Newark are reflected in the physical health of its children. Approximately 69% percent of children in Newark live in low-income households, and of the children served by the Clubhouse, 95% qualify for free or reduced lunch. With one of the highest crime and murder rates in the country, Newark parents perceive high rates of criminal activity in their neighborhood as a major barrier for physical activity for their children. Also, less 20% of the children meet national standards for daily vegetable consumption.


To deal with this complex environment, Boys & Girls Club of Newark (BGCN) made to choice to no longer operate as an afterschool service provider approximately three years ago. It was clear that we had to address both the wellness of each child served to address the root causes of the educational achievement gap and lack of school readiness: the destabilization of the child resulting from an environment of poor health, economic insecurity, and violence.


Therefore, starting in 2014, as a part of a large-scale renovation project at the Clubhouse, BGCN launched the pediatric Children’s Dental Center, preventative and behavioral health programs, and a vision center.


What are the organization's programs?


The Boys & Girls Club of Newark serves the children in the community primarily through its afterschool program and a summer enrichment camp. Of these two services, Boys & Girls Club of Newark has programs that deliver three benefits to the children: academic success, improved physical fitness, and good citizenship. With these core benefits in mind, below are the primary programs that we run:


-      Power Hour - One hour of homework help, daily.

-      Triple Play - Focused on cultivating healthy habits through sports, recreation, dance, and nutrition workshops.

-      STEM - Science, Technology, Engineering and Math taught in a practical way through tactile projects, such as building robots.

-      Smart Moves - A resistance-training program that helps young people make good decisions around relationships and drugs.

-      Keystone Club - A teen mentoring program that helps young adults explore their talents, skills and potential as leaders in their community and the world.

-      Brain Gain - A program designed to combat summer learning loss by engaging children in creative, project-based activities.


Why does this organization want a PP55 Fellow? What long-term impact will I have?


The fellow will work closely with the leadership team to guide the effort to streamline financial processes across the organization, create new and more efficient systems, and make strategic choices on high-level revenue and expenditure choices.


The position is expected to have long lasting impact on the finance department’s internal mechanisms and improve the fiscal health of the organization while spearheading strategic choices around finances, staffing, and program expansion – all while communicating how these choices will affect financial sustainability in addition to short and long-term health



What is the organization's culture?


The fellow will work closely with the leadership team, which has a deep sense of commitment to the Newark community and the children and families BGCN serves. We aim to serve them to the best of our ability. However, the leadership team is in a challenging situation as the organization has recently undergone a number of significant transitions that have left the organization depleted of financial resources and operational efficiency. The new leadership team in place has been working diligently to improve the business model, operations, impact -- and we’re experiencing early successes in addition to increased cash-flow.


There are a number of initiatives and projects underway aimed at making the organization better (not bigger). We are putting in place metrics to not only evaluate the impact of our programming, but also to understand the return on investment. The leadership team truly is in a “change-making” situation, where decisions are nimble and, therefore, have an immediate effect on the programming, children, bottom-line, and organizational culture. In this sense, despite having an eighty year history in the community, the Boys & Girls Club of Newark runs like a start-up. We’re moving quickly to change the narrative, and producing better outcomes for the children and families we serve as a result.