Chief Operating Officer

Promise Venture Studio
  • Location
    Remote, D.C.
  • Sector
    Non Profit
  • Experience
    Advanced
  • Posted
    Feb 02

Position description

Promise Venture Studio (Promise), a pioneering non-profit organization with a mission to support innovators and accelerate innovations for equity in early childhood development, is seeking its inaugural Chief Operating Officer (COO). With a $5 million annual budget, we have successfully navigated under a fiscal sponsor and are now poised for an exciting transition into an independent 501(c)(3) entity within the next 12-18 months. We are seeking a visionary and experienced leader to join our team, playing a central role in shaping the future of our organization. Follow these links to learn more about Promise Venture Studio and our plans for the future.

POSITION
The COO will lead the operational aspects of our organization, ensuring that our programs and initiatives in early childhood development align with our commitment to social innovation and racial equity. The role represents a unique and important opportunity to truly integrate our values and JEDI commitments into the fabric of our organizational infrastructure and processes, and ensure the preservation and positive evolution of our collaborative, inclusive and joyful culture.

DUTIES & RESPONSIBILITIES
Spin-Out Process Leadership:

Design and lead the process, over the next 12 months, of spinning out from our fiscal sponsor and establishing Promise as an independent 501(c)(3) nonprofit entity.
Collaborate with the fiscal sponsor during the interim period to ensure a smooth transition.
Establish necessary systems and processes for day 1 of the spinout, including personnel, benefits structures, financial management systems, investment and expense policies, tax and accounting.
Operational and Financial Management:

Develop and implement operational and financial strategies that align with our mission.
Assume responsibility for managing the $5 million budget, overseeing annual budget development with the Lead Team, quarterly budget monitoring and forecast updating, managing financial assets and liaising with our fiscal sponsor to ensure financial practices align with our commitment to transparency and accountability.
Identify, evaluate, retain and manage vendors related to financial, legal, and operational aspects of the organization; develop systems for efficient receipt and deployment of Promise’s financial resources, including executing contracts, managing invoices, retaining contractors, and disbursing program funds and grants.
Integrate strategic planning within financial management to ensure that fiscal decisions align with organizational goals.
Produce management financial reports to support decision-making for the Lead Team and the Board of Directors.
Maintain appropriate record of organizational expenditures and staff allocation to meet the requirements for grant reporting and financial audits.
Human Resources and Performance Management:

Audit and evolve human resources functions, including recruitment, onboarding and staff development, compliance, benefits sourcing, talent policy, etc., while ensuring these processes are equitable and aligned with Promise’s organizational values.
Implement and oversee performance management systems (including performance reviews, compensation philosophy, and professional development), providing guidance and growth opportunities for staff.
Team Management and Lead Team Collaboration:

Collaborate actively with the Lead Team, partnering closely with program strategy staff, development staff, and the Managing Partner to align operational strategies with organizational goals and drive innovation.
Provide visionary leadership to a diverse, geographically dispersed team, fostering an inclusive and collaborative organizational culture.
Recruit, train, and mentor staff to ensure they are equipped to contribute to our mission and vision.
Efficiently source and manage contractors and service providers to supplement the suite of operational capabilities necessary to execute our strategic plan.
WHO YOU ARE
Above all, Promise’s COO will uphold our values and share our dedication to eliminating race and identity-based disparities in early childhood so that all children can fulfill their innate promise. You will also bring a significant subset of these skills, experiences and personal characteristics:

Demonstrated commitment to Promise’s mission, values, and the principles of racial equity.
Experience in senior, operations-oriented leadership roles within the nonprofit sector, with a focus on social innovation, early childhood development (or a related field), and racial equity.
Experience creating and executing high-stakes, complex project plans that has prepared you to guide Promise through the process of becoming an independent 501(c)(3).
Strong financial acumen and experience managing multi-million dollar budgets with an emphasis on equity-driven resource allocation.
Demonstrated success in organizational development, process improvement, and strategic planning with an intersectional racial equity lens.
Excellent interpersonal and communication skills, with the ability to build and maintain relationships with diverse stakeholders, including staff, institutional investors, board members, and organizational partners.
Experience implementing initiatives that strengthen connections, celebrate diversity, and contribute to a cohesive and collaborative virtual workplace where every team member feels valued, supported and empowered.
Knowledge of legal and compliance issues (legal, accounting, audit, tax, governance, etc.) related to non-profit organizations and the ability to identify, evaluate, hire and manage the external providers necessary to support these functions in an independent organization.
Learner’s stance and the ability to confidently and independently manage the above-named functions.
Bachelor’s degree in a relevant field (Master’s degree preferred).
REPORTING RELATIONSHIPS
The COO will report to the Managing Partner.

COMPENSATION
$170 – $190K, depending on relevant experience and geographic location. Promise also offers comprehensive health, vision, and dental benefits and a generous 401(K) automatic contribution (6% of salary) and matching (up to 3% of salary) program.

LOCATION
Our work is national in scope, and our team is virtual. The location for this role is flexible, though the COO should possess the willingness and availability to travel approximately 15% of the time for team retreats, national conferences, and other critical in-person meetings.

Application instructions

We have engaged Promise54 to support the hiring process.

Review of applications will begin immediately and continue until the position is filled.  For best consideration apply on or before January 31, 2024. Follow these instructions to submit your resume and one-page cover letter:

Visit the Opportunities section on Promise54’s website and click on the APPLY NOW tab within the Promise Venture Studio, Chief Operating Officer position description.
Answer a brief set of questions about yourself.
Below the questions, you’ll be able to upload your resume as well as a cover letter.
If you encounter any technical difficulties, please contact: [email protected].

The interview process will include 1-2 virtual meetings with our search consultant during the month of January, as well as a series of 2-3 interview engagements with members of the Promise team in mid-late January and February. You may be asked to share work samples from your professional archives, and finalists will participate in a simulated work session that will require some advance preparation, for which you will be compensated.  We hope to extend an offer by late February or early March, and welcome our new COO soon thereafter.

 

Promise Venture Studio is an equal opportunity employer and encourages candidates from all backgrounds to apply.

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