A key member of the senior management team and one of five direct reports to the Museum’s President, the Chief Financial Officer is the senior financial position within the Museum and oversees all financial matters. The CFO is responsible for all business development and earned revenue streams for the Museum as well as developing the infrastructure and systems needed to support substantial growth over the next 5-10 years.
Direct reports include: Controller, Director of Communications, Director of Facilities, Director of Information Technology, Director of the Maritime Art Gallery, Marketing Manager, and Group Sales and Business Development Manager. The CFO also has responsibility for managing two key outsourced relationships (food service and a retail store).
The CFO works closely with the President, COO, and other senior managers to assess all programs, projects, budgets, and business decisions as they relate to the Strategic Plan and institutional priorities. This includes:
Develop and oversee the annual budget in excess of $20MM.
Oversee relationship with external marketing agency; define priorities and establish marketing program.
Negotiate, maintain, and ensure compliance with contracts and agreements regarding outsourced food and retail services and work to maximize performance.
Review, analyze, and report on monthly results; update strategic financial plans and forecasts; provide monthly financial reporting to internal and external stakeholders; oversee grant administration; and manage key contracts.
Review legal matters and serve as primary liaison with external legal counsel.
Conduct program reviews and analyses and assist key senior staff in managing the Museum’s portfolio of programs to best balance between net earnings and mission effectiveness.
Monitor the performance and application of endowment funds, currently valued at $48MM.
Oversee the Information Technology function and participate in all software and hardware upgrades and conversions.
In concert with Director of Facilities, develop annual capital budget and identify and track maintenance needs.
Prepare all Board materials to three Board subcommittees: Finance, Investment, and Audit and also serves on selected task force groups (e.g. Strategic Planning).
Prepare and present summary financial information at monthly Board of Trustee Executive Committee meetings and thrice-yearly meetings of the full Board.
Ensure internal control systems are adequately designed and operating effectively.
Oversee the annual financial statement audit.
Oversee all tax and other required filings.
Prepare cash flow projections and ensure adequate funding.
Oversee budget development by the Facilities and Shipyard Directors for all construction and preservation projects from planning and fundraising stages through completion.
Primary liaison with external investment manager regarding application of investment allocation decisions and monthly reporting.
Participate in analysis of charitable giving programs and liaison with external auditor and legal counsel as required.
Maintain banking relationships; negotiate credit facilities and ensure covenant compliance.
Oversee and mentor finance team and ensure further development of a smoothly run and cohesive financial operation.
Represent the museum at professional gatherings and civic events.
Qualifications & Experience
Academic credentials, professional experience, and personal maturity to immediately create and maintain a high degree of trust and credibility among all relevant parties.
A proven track record of marketing experience and business development acumen.
Demonstrated strategic planning skills.
A collaborative and flexible operating style.
Strong communication skills including experience and a disposition to explain finances and financial concepts to individuals with varying degrees of financial understanding.
An understanding of or experience with a not-for-profit organization, ideally as a senior staff member or Board member.
Appreciation, and ideally, passion for the Museum’s mission.
Ability to read, analyze, and interpret complex documents; respond promptly and effectively to inquiries; write, prepare and deliver effective presentations to staff, board, and committee members, and the general public.
Analytical skills, including modeling and the ability to apply logical thinking to a wide range of intellectual and practical problems.
A minimum of 10-15 years of experience in a senior operational and/or financial role in a complex organization with multiple revenue streams.
Proficiency with Microsoft Office Suite, experience with Blackbaud products a plus.
BA required, CPA and/or MBA a plus
About Mystic Seaport Museum, Inc.
Founded in 1929, Mystic Seaport Museum (the Museum) is the nation’s pre-eminent maritime museum, and its mission is to inspire an enduring connection to the American maritime experience. The Seaport is unwavering in its commitment to present America’s maritime history, culture, and artifacts, which underlie their unique national character and inform how the economic foundation of this great country was created. The vision for the Museum is to redefine the interchange of maritime heritage and contemporary culture.
The Museum’s assets include a 30 acre campus along the Mystic River, a state-of-the-art Collections and Research Center, four National Historic Landmark vessels, including the Charles W. Morgan, built in 1841, the last surviving wooden whaling ship from the great days of sail; the H.B. duPont Preservation Shipyard; the world’s largest collection of watercraft and maritime photographs; an authentically re-created 19th century coastal village; and the Nation’s most extensive (non-Naval) maritime library. Mystic Seaport Museum also offers visitors educational programs for all ages, ranging from summer day camp and sailing lessons to unique higher education programs, inc...luding the Williams-Mystic Maritime Studies Program in a long-standing partnership with Williams College. The Museum has multiple distinct and diverse lines of business, including retail gift shops, restaurants, catering and other food venues, intellectual property development and marketing, a sail training vessel, numerous membership programs, and a highly-regarded retail art gallery.
Mystic Seaport Museum has been led by President Stephen C. White since January, 2009. The Museum concluded a successful capital campaign in December 2016, raising $15.3 million. The Museum in Motion campaign funded the McGraw Gallery Quadrangle project and the new 15,000 s/f Thompson Exhibition Building and three new exhibitions and related programming. At the same time, $900,000 was raised to complete a major restoration of the steam vessel, Sabino, one of the Museum’s four historic landmark vessels. Also in 2018, annual fund efforts brought in $1.8 million.
Mystic Seaport Museum has a full and part time staff 275 and is governed by a 34-member Board of Trustees. The annual budget is approximately $20 million supported a $48 million endowment and revenue from more than 270,000 visitors annually. The Museum has 14,000 member households and a strong volunteer program with approximately 600 volunteers who contribute each year some 80,000 hours of work across all departments of the Museum.
Historic Mystic, settled in 1654, is located within the towns of both Groton and Stonington, divided by the Mystic River. A picturesque village, Mystic is conveniently located between Boston and New York on the I-95 corridor and is accessible by Amtrak train and is close to airports in Providence, Rhode Island and Hartford, Connecticut.
Mystic is part of a scenic coastal community rich in maritime history poised on the shores of Fisher’s Island Sound and known for its excellent protected harbors. It has a rich legacy of historical sites and events, where nature’s beauty and rural heritage have been preserved in woodlands, rolling hills and farmlands.
Other charming coastal towns in the Mystic region include Stonington, Groton, New London, Waterford, Old Lyme, Old Saybrook, and Essex. Sailing and other water sports, art galleries, theaters, fine dining, shopping, and other activities abound.