Chief Financial Officer

The Bronx, NY

Ethical Culture Fieldston School (ECFS) is a progressive PreK –12 independent school that

has been serving s tudents from throughout New York Ci ty and the surrounding suburbs

since 1878. ECFS offers a r ich curriculum in the arts , sciences , and humanities . A coed,

nonsectarian school , i t serves a diverse community of about 1 ,700 students on two

campuses – one in the Riverdale section of the Bronx and the othe r in Manhattan .

ECFS is notable for its democratic approach to

education and its overarching philosophy of creating an

ethical school environment. Relationships among

faculty, parents, and students are open and strong, and

the school is renowned for its commitment to diversity,

equity, and access. ECFS maintains the largest financial

aid budget – nearly $16 million – of any independent

school in New York City.

The CFO plays a key role in the development and

execution of financial strategy for a school with more

than 400 employees and an annual operating budget of

more than $85 million.

The successful candidate will join a team of committed

and collaborative colleagues, all of whom are dedicated

to advocating the ideals of ethical and progressive

education. The CFO will partner with the Head of

School, Board of Trustees, and other school leaders to

advance the mission, vision, and financial strategy.

To occupy this complex, challenging, and rewarding

position, ECFS is seeking a financial professional with

deep experience in nonprofit business and finance,

ideally one with a broad background in education

management and strategic planning.

APPLICATIONS REQUESTED ASAP AND NO LATER THAN FEBRUARY 28, 2019

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CORE TENETS OF THE ETHICAL CULTURE FIELDSTON SCHOOL

The ideal of the school is not the adaptation of the individual to the existing social

environment; it is to develop individuals who are competent to change their environment

to greater conformity with moral ideals. – Felix Adler, ECFS founder

MISSION

Felix Adler’s educational vision is as important today as it was when the Ethical Culture Fieldston School was

founded in 1878. To continue to realize that vision, we embrace the following ideals:

• Ethical Learning: The exploration of what it means to be an ethical and responsible member of society forms

the core of our curriculum and our school community. We value inclusion as well as economic and racial

diversity. We honor all of our students for their unique contributions, cultural backgrounds, and beliefs. As

we consider service to be critical to the development of character, we incorporate community service into

our students' school experiences from the earliest grades.

• Academic Excellence: Our school achieves academic excellence by challenging students to reach their

highest potential in body, mind, and spirit through the humanities, the sciences, the arts, and physical

education. Students become active learners and engage in vital discourse in a community of dedicated

teachers and an atmosphere of intellectual discipline and creativity.

• Progressive Education: Through a curriculum rooted in the tenets of progressive education, students

become independent thinkers as they learn that asking their own questions and seeking their own answers

are key to the deepest kind of understanding. Cooperative, student-centered, discussion-based learning and

the freedom to make mistakes are part of our students’ everyday lives.

With an enduring commitment to excellence in progressive education, we inspire a diverse and joyful community of

passionate learners, critical thinkers, and ethical individuals who aim to make the world more humane and just.

HABITS OF HEARTS AND MIND

With an enduring commitment to excellence in progressive education, we inspire a diverse and joyful community of

passionate learners, critical thinkers, and ethical individuals who aim to make the world more humane and just. To

this end, ECFS expects that members of our community will integrate these principles into their interactions with

each other.

• Balance: We embrace open-mindedness and strive to promote self-care.

• Collaboration: We seek to accomplish meaningful goals by collaborating with one another, respecting

others’ ideas and opinions, and creating safe spaces for all voices.

• Community: We believe that who we are and what we do matters to our students and one another. We

accept responsibility for our actions and role in building community.

• Integrity: We model ethical behavior and actively commit to equity and justice.

• Joy: We value educators who love what they do, care deeply about children, and work with joy.

• Respect: We encourage clear and direct communication and value listening to understand, not just listening

to respond.

• Relationships: We promote honest relationships that foster trust and transparency.

MOTTO: FIAT LUX – LET THERE BE LIGHT

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ECFS AT A GLANCE

2018–19 ENROLLMENT AND FINANCIAL AID

ENROLLMENT, SCHOOL-WIDE: 1,698

ETHICAL CULTURE (PK–5): 437

FIELDSTON LOWER (PK–5): 265

FIELDSTON MIDDLE (6–8): 388

FIELDSTON UPPER (9–12): 608

STUDENTS OF COLOR, SCHOOL-WIDE: 39%

TUITION AND FINANCIAL AID

2019-20 TUITION, ALL GRADES: $52,993

2018-19 FINANCIAL AID AWARDED: $15.5 million

STUDENT BODY RECEIVING AID: 21%

FINANCE AND DEVELOPMENT

2018-19 TOTAL OPERATING REVENUE: $84 million

TOTAL OPERATING EXPENSES: $83.8 million

ENDOWMENT: $106 million

TOTAL CAPITAL FUNDS RAISED TO DATE: $52.5 million

ANNUAL GIVING FUNDS RAISED, 2017-18: $3.96 million

PERSONNEL

TOTAL EMPLOYEES, SCHOOL-WIDE: 475

TOTAL TEACHING FACULTY: 375

TOTAL STAFF: 100

LOCATION AND CAMPUSES

TWO CAMPUSES:

• Six-story landmark building at 33 Central Park West in

Manhattan, housing Ethical Culture elementary division

• 18-acre campus in the Riverdale section of the Bronx,

housing elementary, middle, and upper divisions

AFFILIATIONS AND MEMBERSHIPS

ACCREDITATION: National Association of Independent

Schools; New York State Association of Independent

Schools

MEMBER: National Business Officers Association

ON THE WEB: www.ecfs.org

DEFINING STRENGTHS AND UNIQUE ATTRIBUTES OF THE SCHOOL

The Ethical Culture Fieldston School has a long history of equity and inclusion deeply rooted in its mission and the

educational philosophy of its founder. The school embraces diversity of ancestry, family, identity, culture, and belief.

It seeks a student body and faculty who reflect the pluralism and socioeconomic diversity of metropolitan New York.

ECFS affirms both differences and commonalities, striving to balance individuality and community.

All members of the community are expected to engage in open dialogue about living and learning in a diverse

environment, both inside and outside the classroom. This work, with its creative tensions, is viewed as a catalyst for

individual and collective growth. On a daily basis, those who learn and work at ECFS are committed to making this

vision of a democratic, pluralistic, and progressive school a reality.

The next CFO will arrive at an exciting moment in the school’s 140-year history as it prepares to sunset ECFS’s last

strategic plan, Mission Manifest, and begin to contemplate a new strategic planning process involving all stakeholders.

Head of School Jessica L. Bagby, who joined ECFS in 2016, has just prepared a new vision statement to guide that

effort, identifying four key goals in which the new strategic plan will be grounded. Candidates for the CFO position

should read that document carefully, with particular attention to the goal of financial stewardship to ensure robust

financial aid and excellent facilities.

Read the Head of School’s vision statement here: vision.ecfs.org

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HISTORY

The school known today as the Ethical Culture Fieldston School was founded in 1878 by Felix Adler to ensure that all

children would have access to an education. Then known as the Workingman's School, it emphasized moral

education, psychological development, and integration of the creative and manual arts with academics — key

components of what is now known as progressive education.

In 1895, the Workingman’s School became the Ethical Culture School, and its management passed to the governing

board of the Ethical Culture Society. In 1899, the school established a secondary program. In 1903–04, the Ethical

Culture School constructed a new building at 33 Central Park West, which currently houses the Ethical Culture

division, one of the school’s two elementary programs. By the mid‐1920s, the school had outgrown its quarters and

sought to expand its vision for both primary and secondary education. In 1928, it opened a beautiful wooded campus

in the Bronx. In 1995, the New York Society for Ethical Culture voted to set up the school as its own legal entity with

a self-governing Board of Trustees.

GOVERNANCE AND ADMINISTRATION

The CFO reports to the Head of School and serves as a member of the Administrative Council, a group of 13 that

leads the conversation about priorities and helps guide the school’s direction. In addition to the Head of School and

the CFO, the council includes the Assistant Head of School for Ethical Education and Social Impact; the Principals of

the four divisions; the Athletic Director; the Director of Technology; the Assistant Head of School for Institutional

Affairs; the Director of Admissions, Financial Aid, and Institutional Research; the Chief Advancement Officer; and

the Chief Operating Officer, who is also serving this year as Interim CFO.

The CFO has three direct reports: the Director of Human Resources, the Senior Controller, and a Financial Analyst,

the first two of whom have a staff.

The 29-member Board of Trustees is the school’s main governing body, responsible for the long-term sustainability of

the institution. Through its various committees, the Board provides expertise and guidance, while also helping to

ensure that the school remains true to its mission. The CFO serves as administrative liaison to the Board’s Finance,

Investment, and Audit and Risk Management committees.

THE EDUCATIONAL PROGRAM

ECFS comprises four divisions: The two elementary

divisions, Ethical Culture, located on the Upper West Side

of Manhattan, and Fieldston Lower, located on the 18-acre

Fieldston campus in the Riverdale section of the Bronx,

serve students in Pre-K through 5th grade. The two

elementary divisions feed into Fieldston Middle, serving

students in 6th through 8th grades, and Fieldston Upper,

serving students in 9th through 12th grades, which are

both located on the Fieldston campus. Students are drawn

from all five boroughs of the city, Westchester County,

Connecticut, and New Jersey.

At ECFS, learning is experiential, interdisciplinary,

adventurous, and deeply connected to the world. The academic program is built around 10 core tenets of progressive

education: ethical, challenging, relevant, playful, inclusive, responsive, empowering, experiential, healthy, and interdependent.

Developed by the ECFS faculty and staff, these tenets guide every area of the curriculum, inviting pedagogical

imagination and innovation.

For a fuller description of the educational program in all divisions, visit www.ecfs.org.

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THE POSITION: CHIEF FINANCIAL OFFICER

The Chief Financial Officer (CFO) at the Ethical Culture Fieldston School is responsible for a wide range of services,

programs, and projects within the institutional environment and provides guidance and counsel in executive and

policy decision-making to the Head of School, the Administrative Council, and, as needed, the Board of Trustees. The

CFO is directly involved in complex business transactions, negotiating contracts, developing important institutional

policies, and leading efforts to plan, monitor, and report on the financial and business operations of the school. The

CFO manages the business office, finance, and human resources staff. Included in the portfolio of responsibilities are

fiscal services (accounts payable, accounts receivable, general accounting), human resources, (recruitment, benefits,

on/off-boarding, personnel actions), commercial insurance, and outsourced legal services.

The CFO reports to the Head of School and is a member of the Administrative Council.

RESPONSIBILITIES

• Regularly update the school leadership regarding the school’s financial position, including identification of

emerging issues.

• Serve as administrative liaison to the Finance, Investment, and Audit and Risk Management Committees of the

Board of Trustees; participate on other committees and task forces as necessary.

• Provide strategic financial input and leadership on decision-making issues affecting the organization.

• Oversee the interactive preparation of the annual operating budget and participate in the development of the

school’s plans and programs as a strategic partner offering financial insights.

• Continue improvement of the budgeting process through education of department managers on financial issues

impacting department budgets.

• Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies, and

regulatory action.

• Partner with the Controller and Human Resources Director to develop and manage efficient systems, reporting,

and procedures in their areas of responsibility.

• Ensure that the finance group provides timely and accurate financial statements and reports, budget and trend

analysis, and other financial information to assist colleagues in performing their managerial responsibilities.

• Provide ongoing evaluation of the finance division structure and team, plan for continual improvement of group

efficiency and effectiveness, and provide staff with professional growth.

• Provide leadership of the school’s investment and banking relationship, optimize the handling of bank and

deposit accounts, and monitor cash flow to ensure the healthy operation of the school.

• Proactively explore efficiencies, strategic partnerships, and program expansion to improve the school’s financial

position.

• Serve as internal liaison with insurers, auditors,

external counsel, and public officials.

• Supervise Human Resources, including non-academic

recruiting, performance management, benefits

administration, personnel actions, and the Faculty

Interest Committee (FIC) contract negotiation process.

• Partner with school leaders to anticipate issues and

strategically estimate market and operational risks,

assisting the Head of School in managing the impact of

internal and external factors affecting the institution.

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• Partner with the office of Admission and Financial Aid to support strategic business and market planning,

provide enrollment trend analysis, and model and orchestrate long-term healthy tuition income.

• Provide budgetary oversight for a significant financial aid program and creatively engage with the Director of

Admission, Financial Aid, and Institutional Research to implement financial aid policies to ensure equity of

experience, affordability, access, and diversity among all elements of the school’s population.

• Work closely with the Chief Operating Officer to budget and allocate financial resources for the school’s

operation across two campuses.

• Partner with the Chief Advancement Officer to provide financial analysis and data to support fundraising and

grant applications and to inform case statements for campaigns, such as a financial aid endowment campaign.

• Support financial aid policies and procedures and serve as a member of the Financial Aid Committee.

• Identify proactive solutions that will eliminate or mitigate risks or prove financially sound or advantageous.

• Direct the fiscal functions of the school in accordance with generally accepted accounting principles (GAAP) and

in alignment with national, state, and local laws and regulatory rules.

• Work in accordance with independent school best practices as propagated by organizations such as NAIS, NBOA,

and NYSAIS, and participate in regional and national associations to keep abreast of legislative changes affecting

the school and emerging best practices.

• Implement a culture of responsive customer service and efficient management of resources.

• Champion the use of technology within all areas of responsibility.

• Base decision-making process on ethics and integrity.

OPPORTUNITIES AND CHALLENGES

For a broadly experienced financial professional

who is inspired by the ECFS mission, undaunted by

complexity, and eager to work in partnership with

colleagues to advance the school’s vision and

financial sustainability, the CFO position represents

an extraordinary opportunity for professional and

personal reward.

ECFS is seeking a CFO whose decision-making will

be guided by the overarching philosophy of

creating an ethical school environment. Aspiring to

transparency and working in a holistic manner to

dispel silo thinking, the CFO will be expected to

create and maximize linkages between

departments, offices, units, and individual staff

members.

As the school’s leadership works to refine and execute its strategic vision for the next several years, the CFO also will

be asked to contribute to addressing myriad challenges:

• Finding the resources to support and enhance the school’s longstanding commitment to a substantial

financial aid program while remaining attentive to the importance of controlling tuition increases. A

Financial Aid Task Force is looking broadly at ways to increase access to an ECFS education across the

socioeconomic spectrum.

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• Continuing to attract top professional talent through more robust recruitment and by ensuring that the

faculty and staff are competitively compensated. Eighty percent of the operating budget is allocated to

salaries and benefits. The faculty union’s negotiated salary increases, combined with a policy that caps

tuition increases, require a new financial model and/or alternate sources of funding.

• Maintaining and enhancing two beautiful

but aging campuses to support a 21st-

century educational program. Two major

facilities projects at Fieldston Lower and the

Tate Library have been completed, but

significant deferred maintenance remains to

be addressed as new capital projects planned

over the next few years get underway. A

multiyear plan to complete the projects has

been developed.

• The school’s student information and

financial management systems have reached

the end of their useful lives. PowerSchool has been selected to replace the student information system. The

next CFO will have the opportunity to select and implement a product to manage the finances of the school

for the next 15 to 20 years.

WHO SHOULD APPLY?

ECFS seeks a visionary and strategic thinker who is collaborative, ethically grounded, and highly skilled in all key

areas of financial management. The ideal candidate will offer most or all of the following attributes:

QUALIFICATIONS AND EXPERIENCE

• Minimum of a bachelor’s degree in business administration, finance, or a related field; MBA or related

advanced degree preferred.

• Five or more years of experience as a CFO, preferably in an educational setting.

• Strong background in finance, budgeting, investing, and cash management.

• Previous supervisory experience.

• Experience with nonprofits and mission-driven organizations.

• Advanced technology skills.

LEADERSHIP TRAITS AND PERSONAL QUALITIES

• A wholehearted appreciation for and commitment to the Ethical Culture Fieldston School’s mission.

• Commitment to an organizational culture marked by trust, integrity, ethics, professionalism, inclusiveness,

and respect for diversity in all its forms.

• Excellent interpersonal and communication skills, oral and written.

• Demonstrated organizational skills.

ECFS is committed to diversity and encourages all qualified candidates to apply. The school offers a generous benefits package to

eligible employees that includes medical and dental insurance, flexible spending accounts, life insurance, disability insurance,

membership in the Academic Federal Credit Union, a retirement plan, and commuter benefits.

1000 Herrontown Road, Princeton, New Jersey 08540-7716 Tel: (609) 683-1355 Fax: (609) 683-1351

www.wickenden.com searches@wickenden.com

APPLICATION REQUIREMENTS AND SEARCH PROCESS

Acting on behalf of Ethical Culture Fieldston School, Wickenden Associates is actively recruiting seasoned, mission-

driven financial professionals for this challenging and exciting leadership opportunity. Jim Wickenden

(jwickenden@wickenden.com) is the lead consultant. He may be reached at (609) 683-1355.

Candidates should submit as soon as possible and no later than Thursday, February 28, 2019, an application package

including the following:

• A cover letter indicating why they are interested in and qualified for the position, particularly addressing their

preparation to manage the breadth and complexity of the position as well as their resonance with the ECFS mission and

commitment to creating an ethical school environment.

• A current résumé.

• The names, addresses, and telephone numbers of three references. (We will obtain permission from candidates

before contacting references.)

• Optional: Other supporting material (e.g. articles, speeches, or letters of recommendation) that would be useful to the

Search Committee.

These materials should be transmitted via email attachment to searches@wickenden.com.

After an initial review of applicants, a search committee consisting of the Head of School, the Chief Operating

Officer, the Director of Technology, and the Director of Admissions, Financial Aid, and Institutional Research will

interview selected candidates over the weekend of March 9-10, 2019. Shortly thereafter, finalists will be invited to

ECFS for a more comprehensive series of interviews. An appointment is anticipated in March 2019. Wickenden

Associates will keep all applicants informed of their status throughout the process.