Chief Financial Officer, Blue Grass Community Foundation

Chief Financial Officer (CFO)

Blue Grass Community Foundation

Location: Lexington, KY (Hybrid) | Position Type: Full-time, Exempt

Reports To: President & CEO

Direct Reports: VP/Controller, Senior Director/Community Impact, Officer Manager

Position Summary

The Blue Grass Community Foundation (BGCF) seeks a strategic, community-minded Chief Financial Officer (CFO) to serve as the Foundation’s chief financial strategist, operational leader, and primary steward of more than $350 million in charitable assets and over 900 funds.

Reporting directly to the President & CEO and serving as an integral member of the executive leadership team, the CFO enters at an exciting moment of institutional scaling. Backed by an established finance team and a long-standing track record of clean audits, the incoming CFO will guide investment strategy, financial modeling, and spending policies while building the scalable systems required for BGCF’s next phase of growth, furthering BGCF’s mission of building more generous, vibrant, engaged, and equitable communities across Central and Appalachia Kentucky.

The ideal candidate is a credentialed, experienced financial executive who can step confidently into the role, lead with integrity and precision, and serve as a trusted advisor to organizational leadership. In addition to providing sound internal stewardship, this leader will represent the Foundation externally—collaborating with professional wealth advisors, estate attorneys, and donors to navigate complex charitable gifts and advance community philanthropy.

Key Responsibilities

Strategic Leadership

• Lead long-range financial planning and develop scalable systems, structures, and processes to support significant institutional growth.
• Partner with the President & CEO and executive leadership team to align financial and administrative planning with strategic priorities and community impact.
• Assess future organizational, staffing, and capital needs in partnership with executive leadership to support ongoing institutional scaling.
• Model BGCF’s mission, equity commitments, and core values internally and across the community, fostering a culture of operational excellence, continuous improvement, and strict confidentiality regarding donors, funds, and grantees.

Financial & Investment Stewardship

• Ensure accurate fund accounting, reporting, and internal controls across 900+ component funds—including endowed and non-endowed donor-advised, scholarship, designated, agency, affiliate, supporting organizations, and fiscal sponsorships.
• Prepare, analyze, and present comprehensive financial statements, forecasts, and performance dashboards in compliance with GAAP and nonprofit accounting standards.
• Lead the annual budgeting process in conjunction with BGCF executive team; monitor performance; and provide timely variance, trend, and scenario analyses.
• Manage relationships with investment consultants, third-party investment advisors, the Investment Committee, and the Finance and Audit Committee; Oversee the performance of pooled and segregated portfolios.
• Coordinate annual external audits, IRS Form 990 preparation, and regulatory filings in close partnership with external auditors and the Finance and Audit Committee.
• Direct cash flow and liquidity management to balance operational needs with investment targets; forecast and model available grant and scholarship distributions in alignment with fund performance and Foundation spending policies.

Governance & External Relations

• Prepare clear, actionable financial materials and dashboards for the Treasurer, Board of Directors, and relevant board committees.
• Partner with the President & CEO, General Counsel, and Advancement team to evaluate, accept, and liquidate non-cash and complex charitable gifts (such as real estate and closely held assets), ensuring due diligence, valuation accuracy, and risk mitigation.
• Serve as a primary technical liaison to wealth advisors, estate planning attorneys, trust officers, corporate partners, and commercial banking institutions.
• Support fundholder and donor relations through prompt, transparent, and accurate reporting and communication.
• Collaborate with the President & CEO and Advancement team to communicate the Foundation’s financial stewardship and investment performance to prospective fundholders and advisors, helping to strengthen donor confidence and attract new charitable funds.
• Participate in Foundation events and community activities.

Operational & Organizational Infrastructure

• Oversee core financial software (Foundant CommunitySuite or equivalent fund-accounting systems), ensuring seamless integration with donor, grantmaking, and reporting platforms while maintaining strong data security and internal controls.
• Supervise, mentor, and support the finance and administrative team, ensuring clear accountability, professional growth, and efficient cross-departmental collaboration.
• Direct human resources and payroll operations, including supervising outsourced payroll and benefits administration, ensuring regulatory compliance, and supporting the President & CEO with personnel policies and employee benefit programs.
• Direct organizational risk management and insurance coverage (D&O, property, liability, workers' comp); oversee vendor contracts, facility leases, office equipment, and general physical and IT infrastructure maintenance.

Qualifications

• Advanced degree in business, public administration, or finance preferred, or related equivalent professional experience.
• CPA designation strongly preferred (active or inactive).
• Minimum of 8 years of progressive financial leadership experience, including at least 5 years at the Director, VP, or CFO level.
• Experience with Foundant CommunitySuite or similar fund-accounting software preferred (Blackbaud Financial Edge, Stellar, Sage Intacct, etc.)
• Deep working knowledge of nonprofit accounting, GAAP, FASB standards, and fund accounting principles.
• Experience managing audits, investments, budgets, and financial reporting for a complex organization with multiple funds or revenue streams.
• Strong track record of leading and developing finance teams while improving financial systems, internal controls, and administrative operations.
• Exceptional analytical, organizational, and communication skills; ability to present complex financial data clearly to non-financial stakeholders.
• High ethical standards, professional judgment, and a commitment to the mission of community philanthropy.

Compensation, Benefits, & Work Structure

• Salary Range: $160,000 - $190,000, commensurate with experience.
• Work Arrangement: Hybrid schedule (from our Lexington office.)
• Comprehensive Insurance Coverage: 100% employer-paid premiums for Medical, Dental, and Vision coverage, plus subsidized family coverage, short- and long-term disability and life insurance coverage.
• Outstanding Retirement Plan: 401k eligible after one year of service featuring a 3% Safe Harbor base and a track record of 10% employer contributions with no employee match required.
• Generous PTO: Paid vacation, sick leave, and personal days, plus 13 paid annual holidays.
• Philanthropic Perk: Complimentary Donor-Advised Charitable Fund established through BGCF to support your personal community giving.

How to Apply

McElroy Search & Strategy has been exclusively engaged to lead this executive search.

To apply, please submit your resume and a brief introductory cover letter outlining your interest and relevant experience through our applicant portal.

Blue Grass Community Foundation is an equal opportunity employer committed to a welcoming, professional, and fair workplace. We encourage qualified candidates of all backgrounds and experiences to apply.

About Blue Grass Community Foundation

Based in Lexington, Kentucky, Blue Grass Community Foundation connects individuals, families, businesses, organizations, and communities with causes they care about. Together, we address community needs and build more generous, vibrant, engaged, and equitable communities across Central and Appalachian Kentucky.

We were founded in 1967 by visionary Lexington couple Irene and C.W. Sulier, who created a permanent endowment for our community with simple aspirations: they hoped their fund would grow to support diverse community needs over time and that others with charitable intent might join them. Their dreams have been more than realized.

In the past 59 years, BGCF has grown from one charitable fund to more than 900, each with its own unique charitable purpose. Charitable assets exceed $350 million, with almost 60% permanently endowed. Most importantly, the Community Foundation, in partnership with its generous donors, has awarded almost $250 million in aggregate grants.