Chief Financial Officer

The Wallace Foundation; New York (NY); Hybrid; USD 421,000 - 515,000; Full time

Job summary

The Wallace Foundation in New York City seeks a Chief Financial Officer to lead enterprise financial strategy, planning, liquidity, risk management, and reporting as a member of the Senior Leadership Team. This is a high‑impact, private foundation role with strategic influence over resources and governance.

The CFO will partner with the President, Board and Audit Committee, oversee Grants Management, IT & Operations, and People Leadership, and guide organizational financial health, compliance,

Qualifications

• 15+ years of financial leadership, preferably including prior tenure as a Chief Financial Officer or senior-most financial executive.
• Experience across multiple sectors or organizational environments is valued, particularly with demonstrated success leading organizational change.
• Experience in philanthropy or private foundations is strongly preferred.

Responsibilities

• Serve as an active member of the Senior Leadership Team, contributing financial and enterprise perspective to Foundation-wide decisions and sharing responsibility for organizational effectiveness, culture, resources, and results.
• Lead long-range financial planning, annual budgeting, forecasting, liquidity and cash planning, and financial risk management with strong internal controls.
• Provide executive oversight of Grants Management, ensuring policy and controls support strategic priorities and compliance.
• Oversee information technology and operations, guiding investments in technology and a safe, productive work environment.
• Build and lead a high-performing team with clear accountability and a commitment to equity, learning, and development.

Skills

Financial leadership

Strategic partnership

Technical analytics

Team leadership

Education

MBA/CPA or equivalent

Job description

Chief Financial Officer

About Wallace

The Wallace Foundation is an independent, national private foundation in New York City with approximately $1.8 billion in assets as of December 31, 2025. The Foundation traces its origins back more than half a century to DeWitt and Lila Acheson Wallace, founders of Reader's Digest. Wallace's mission is to help all communities build a more vibrant and just future through its work in the arts, education leadership, and youth development.

Philanthropic Strategy

Wallace has identified economic mobility as its new North Star, guiding its work across the arts, education, and youth development. Broadly speaking, economic mobility is the idea that children, including those furthest from opportunity, can achieve greater financial stability and security than their parents. As part of this direction, Wallace has established an ambitious impact goal: a strong career launch by age 25, meaning a young person is earning at or above a living wage in their region in a role with real upward mobility.

This direction is still taking shape. Wallace is engaged in a strategic planning process to further develop its vision, strategies, and approach to impact in partnership with those deeply engaged in this work. Research, evidence, learning, and the perspectives of grantees and communities will continue to inform the Foundation’s work as the strategy develops.

The Opportunity

The incoming CFO will join Wallace at an exciting moment and will play a significant enterprise leadership role in translating the emerging strategy into financial priorities, resource choices, organizational capabilities, and execution.

As a member of Wallace’s Senior Leadership Team, the Chief Financial Officer (CFO) is both an enterprise leader and the Foundation’s senior financial executive. The CFO contributes financial and enterprise perspective to Foundation-wide decisions and is responsible for translating Wallace’s strategic direction into financial priorities, resource choices, and effective execution, while providing strategic leadership and oversight to the Finance and Operations team.

Reporting to and serving as a strategic advisor to the President, the CFO brings sound judgment, rigorous financial analysis and a clear point of view to enterprise decisions. The role requires evaluating risks and trade-offs, ensuring strong financial stewardship and compliance, and helping Wallace deploy its resources effectively to advance its mission.

The CFO also works closely with the Board of Directors and serves as the primary management liaison to the Audit Committee for financial matters.

The position is based in New York City on a hybrid basis, with an in-office presence required Tuesday through Thursday.

Key Wallace Foundation Facts:

• Total Assets: Approximately $1.8 billion (2025) Annual Disbursement: Approximately $83 million (2025) Annual Operating Budget: Approximately $25 million (2025) Number of Employees (including approved open positions): Approximately 54

Key Responsibilities

Enterprise Leadership and Financial Strategy

• Serve as an active member of the Senior Leadership Team, contributing financial and enterprise perspective to Foundation-wide decisions and sharing responsibility for organizational effectiveness, culture, resources, and results. Serve as a strategic advisor to the President, providing clear, well-supported recommendations on major strategic, organizational, financial, and resource-allocation decisions. Partner with the President and Senior Leadership Team to translate Wallace’s emerging strategy and operating model into financial strategy, multi-year resource plans, and resource allocation decisions that support effective execution and the Foundation’s intended impact. Establish clear priorities, decision rights, and accountability across the functions reporting to the CFO, ensuring effective execution while maintaining appropriate fiduciary, financial, and internal-control standards and compliance with applicable tax, regulatory and reporting requirements. Advise the President and Board on financial management, organizational sustainability, and significant financial and enterprise risks; serve as primary management liaison to the Audit Committee for financial matters.

Financial Stewardship, Planning, Risk

• Lead long-range financial planning, annual budgeting, forecasting, liquidity and cash planning, and financial risk management. Ensure effective accounting, tax, audit, treasury, payroll, financial reporting, internal controls, and financial regulatory compliance appropriate for a private foundation. Integrate financial planning with grantmaking, operating priorities, and long-term commitments, partnering with the Chief Investment Officer on investment liquidity, cash requirements, and financial sustainability. Evaluate and advise on program-related investments and other financial tools that could complement traditional grantmaking and extend the impact of Wallace’s resources. Maintain executive oversight of Wallace’s annual payout requirements and the financial implications of current and future grantmaking commitments. Ensure the President, Senior Leadership Team, Audit Committee, and Board receive timely, accurate, decision-useful financial information and analysis. Provide strategic oversight of financial systems, analytics, and reporting to support informed decision-making, performance accountability, and organizational effectiveness.

Grants Management

• Provide executive oversight of Grants Management, ensuring that grantmaking operations, systems, policies, and controls support Wallace’s strategic priorities and compliance with applicable private foundation requirements, in partnership with Legal. Ensure the Grants Management team works effectively across units to support coordinated grantmaking operations, compliance, financial planning, and risk management. Lead the continued evolution of the Grants Management function to strengthen efficiency, transparency, coordination, and effectiveness across the grantmaking lifecycle.

Information Technology and Operations

• Provide executive oversight of technology strategy, cybersecurity, data protection, business continuity, and critical systems, ensuring alignment with organizational priorities and appropriate risk management. Guide priorities and investments in technology, AI, automation, and systems modernization, ensuring organizational readiness and accountability for results. Ensure facilities, office services, and operational practices are effectively managed to support a safe, reliable, and productive work environment.

People Leadership and Culture

• Build and lead a high-performing team with clear priorities, roles, decision rights, and expectations. Set high standards for performance, judgment, responsiveness, and continuous improvement, and provide clear and timely feedback. Coach, develop, and empower functional leaders to strengthen capabilities and deliver on team and Foundation-wide priorities. Build trust and foster healthy debate, alignment, transparency, and clear communication while leading teams through organizational change. Lead with an equity lens, strong emotional intelligence, and a commitment to continuous learning and development across the organization.

Candidate Profile

The next Chief Financial Officer (CFO) of the Wallace Foundation will be a strategic, collaborative, and forward-looking financial executive. Combining deep financial expertise with sound judgment, intellectual curiosity, and a strong commitment to Wallace’s mission, this leader will serve as a trusted advisor to the President, Senior Leadership Team, and Board, translating the Foundation’s emerging strategy into financial priorities, resource choices, organizational capabilities, and disciplined execution.

The ideal candidate will also bring a sophisticated understanding of non-profit financial frameworks, preferably within the context of philanthropy, ideally including private foundation finance. They will balance rigorous financial oversight with the effective deployment of Wallace’s resources in pursuit of mission impact. Equally important, the CFO will be an inclusive and transparent leader who builds organizational trust, encourages healthy debate, establishes clear accountability, and develops a high-performing team. The CFO will communicate complex financial and enterprise matters with clarity and candor while leading effectively through change, ambiguity, and evolving priorities

Ideal Experience

Senior Financial Management Experience

15+ years of financial leadership, preferably including prior tenure as a Chief Financial Officer or senior-most financial executive. Experience across multiple sectors or organizational environments is valued, particularly with demonstrated success leading organizational change. Experience in philanthropy or private foundations is strongly preferred.

Strategic Partnership

Track record advising a President or CEO and working directly with boards and board committees, with the judgment and executive presence to communicate complex financial matters, risks, trade-offs, and recommendations clearly.

Technical and Analytical Acumen

Deep expertise in financial planning and analysis, accounting, audit, tax, internal controls, liquidity, risk management, budgeting, and long-range financial planning, with the ability to assess strategy, risk, investment, organizational capability, and performance. Familiarity with technology and organizational operations, including the ability to provide executive-level oversight, is a plus.

Team Leadership

Demonstrated success building, coaching, developing, and leading high-performing teams and experienced functional leaders.

An MBA, CPA, or other relevant advanced degree or professional credential is preferred.

Ideal Experience

Leading Change

• Leads effectively through change, providing clarity and translating organizational direction into action. Navigates ambiguity and evolving priorities with confidence and sound judgment, adapting approaches while maintaining focus on intended outcomes. Integrates the change agenda across systems, processes, and workflows, leveraging the opportunity to revisit and revise existing ways of working.

Strategic Enterprise Leadership

• Demonstrates the perspective, judgment, and presence of a seasoned executive, operating effectively at the senior leadership level and across the organization. Leads with an enterprise-wide perspective, considering what is best for Wallace as a whole rather than solely through a functional lens. Brings an informed point of view and candid counsel to enterprise decisions. Balances prudent financial stewardship with an entrepreneurial mindset, identifying innovative and responsible approaches to deploying Wallace’s resources in support of mission impact.

Driving Results

• Is a metrics-driven leader focused on efficiency, effectiveness, and continuous improvement, always in support of the Wallace Foundation’s mission, encouraging innovation, and intentional about long-term sustainability. Creates clarity around ownership and expectations and holds themselves and others accountable for results. Acts with appropriate urgency and follows through on commitments.

Compensation and Benefits

The current starting salary for this position is $468,000. We review compensation regularly using a market-based approach, with salaries informed by current market data, a New York City geographic premium, and a commitment to internal equity. Benefits include medical plan choice, a healthcare reimbursement account and a 403(b) retirement plan with a 15% employer contribution upon eligibility.

The Wallace Foundation is an Equal Opportunity Employer, committed to maintaining a diverse workplace where differing perspectives are a source of strength.