Chief Financial Officer

Chief Financial Officer

Winterthur Museum, Garden & Library

Winterthur, DE   |   April 7, 2021

About Winterthur Museum, Garden & Library

Winterthur Museum, Garden & Library (“Winterthur”) in Winterthur, Delaware, is a unique national treasure founded by collector and horticulturist Henry Francis du Pont (1880-1969). Home to three generations of the du Pont family, Winterthur was opened to the public in 1951. Winterthur is known internationally for its world-class collection of American decorative arts, naturalistic garden, research library, and graduate programs.

Winterthur Museum houses the premier collection of American decorative arts with more than 90,000 objects made or used in America circa 1640 to 1860. The collection is displayed in the elegant 175-room house much as it was when the du Pont family lived there. Selected works also are exhibited in the permanent and changing exhibition galleries.

The 60-acre Winterthur Garden is one of the oldest continually-operating naturalistic gardens in North America, with year-round harmonious color and successively blooming plantings. As a preserved historic landscape, the Winterthur Garden is a resource for scholars, landscape architects, and horticulturists.

The Winterthur Library provides staff, students, and the general public with research materials about American decorative arts. Since opening in 1952, it has become an internationally renowned research center for advanced study of America’s artistic, cultural, social, and intellectual history from colonial times into the 21st century. The library is open to the public without charge and by appointment.

Winterthur’s roots as an academic institution are founded in two graduate programs sponsored in conjunction with the University of Delaware: the two-year Winterthur Program in American Material Culture, founded in 1952, and the three-year Winterthur/University of Delaware Program in Art Conservation, founded in 1974. Each provides essential academic training and intellectual support for established scholars and rising stars in the fields of material culture studies and art conservation. More than 700 alumni fill leadership roles in museums, universities, and other institutions dedicated to enhancing the public’s understanding of American decorative arts and material culture and advancing the study and preservation of cultural heritage.

Winterthur features a range of educational programming that includes popular and scholarly lectures, films, academic conferences, and intensive study programs on decorative arts. Special programs and tours relate to current exhibitions. Weekly family programs in the museum and garden attract a wide age group. Musical performances, often with an opportunity to socialize, attract new crowds each month. Nearly 100 garden programs a year have a loyal following and also attract new visitors. School-age children and college students participate in a variety of educational opportunities and classes. Winterthur also provides programs for regional libraries and teacher training workshops.

Through a commitment to excellence and innovation, Winterthur is dedicated to preserving its role as a national treasure and an international resource for scholars for generations to come.

Winterthur’s annual operating budget is approximately $30 million and has a total of staff of 330 full and part-time employees, plus seasonal volunteers. The Board of Trustees comprises 33 members and is chaired by Mrs. Katharine P. Booth. The institution’s endowment is currently valued at approximately $350 million and provides about 75 percent of the operating budget and effectively the entire capital budget. The pension fund currently has a balance of about $48 million.

For more information on Winterthur, please visit their website.

The Opportunity

Under the leadership of the Director/Chief Executive Officer, Carol Cadou, the new Chief Financial Officer (“CFO”) of Winterthur will have the opportunity to help guide the institution into a new chapter of excellence. At this exciting point in the institution’s growth, Winterthur seeks an entrepreneurial, strategic, and solutions-oriented CFO to lead the institution’s financial operations. This is an ideal opportunity for a seasoned, hands-on finance and administrative professional with the drive and enthusiasm to develop and implement infrastructure systems needed to support growth in Winterthur’s impact over the next five to 10 years.

The CFO plays a critical role in both day-to-day operations and long-term strategy development and implementation, and will have day-to-day responsibility for financial, administrative, and operational activities. This leader will serve as a thought leader on all business and operational matters and will partner with other senior leaders in advancing efforts for improved organizational process and systems. They will be relied upon for proven leadership capabilities, good business judgment, an analytical mindset, and sound and influential decision-making abilities. The CFO will be a strategic partner to the CEO, conceptualizing and analyzing problems and solutions in a proactive, constructive, and creative manner that results in improved performance across the organization.

The CFO serves as the Treasurer of the Corporation, chief financial spokesperson, and is a member of Winterthur’s senior leadership team. The CFO reports to the CEO and works closely with the Board of Trustees and several Board committees including Executive, Finance, Audit, and the Investment committees. The CFO’s primary responsibilities include management of the treasury, controller, and insurance functions as well as analysis and oversight of the endowment. The CFO participates with the Trustee Investment Committee in discussions and administration of the Investment Spending Policy and in the screening and selection of investment managers for the endowment.

The CFO will oversee and provide leadership to the following Winterthur Departments: Finance, Facilities, Food & Beverage, Information Technology, Post Office and Shipping/Receiving, Retail, and Security.

This leader will also oversee Winterthur’s contracts, legal, and insurance matters.

Key responsibilities of the CFO include the following:

Financial Management

  • In partnership with the CEO, the CFO will oversee the day-to-day responsibilities for planning and managing all finance-related activities of the museum, including institutional assurance/audit, risk management, and budgeting/forecasting the museum’s annual budget of $30 million dollars.
  • Direct the annual budgeting process and the development of business policies and internal controls for the Museum’s fiscal operations.
  • Ensure appropriate accounting control over the museum’s restricted $340 million dollar endowment and other investment funds. Monitor the investment portfolio and act as direct liaison with Investment Advisors as directed by the Finance and Investment Committees.
  • Construct financial models for proposed Museum activities and programs.
  • As a member of the Senior Leadership Team, work closely with all department heads to help them understand the financial and/or operational implications of the organization’s programming decisions.

Earned Income Revenue Generation

  • In partnership with the Director of Visitor Engagement, provide leadership to maximize Museum revenues through earned income sources including event ticket sales, food services, and the retail Museum Store while providing for a top-quality visitor experience.
  • Develop new business opportunities to enhance earned income for the Museum.
  • In partnership with the Director of Philanthropy, create annual and long-term fundraising goals to support operational and program expenditure budgets

Operations Management

  • Ensure that all business and operational aspects of the Museum are in alignment with overall objectives and reflect the institution’s core values, setting high standards for integrity, productivity, professionalism, creativity, diversity, and cooperation in the workplace.
  • Oversee and ensure the successful implementation of risk management, legal, business
  • insurance, facilities and property management, as well as information technology activities, policies and procedures.
  • Ensure the functional integrity of the Museum by working closely with the Director of Facilities to address operational, aesthetic, safety, security, emergency preparedness and overall cleanliness / sanitation issues.
  • Participate in ongoing strategic and tactical planning efforts that strengthen the
  • organization’s infrastructure, sustainability, and impact in the communities it serves.
  • Act as chief compliance officer with overall responsibility for internal controls, records retention, contract administration, and ethics/conflict of interest policies under the oversight of the CEO and Museum’s Audit Committee.
  • Oversee contract management and legal compliance matters for the Museum, coordinating as necessary with external legal counsel.
  • Understand and apply applicable laws, policies, and procedures quickly and succinctly to assure timely, consistent, and accurate implementation.

Board Relations

  • Serve as staff liaison to the Finance, Investment, and Audit committees of the Museum Board of Trustees.
  • Attend all Museum Board and Board committee meetings, as needed, reporting on operational, advocacy, and financial issues.
  • Present the Museum’s financials to Board Committees as well as the full Board of Trustees.
Candidate Profile

The ideal candidate will have 15 years of professional experience with six to eight years in a senior management role at the Director of Finance or CFO level preferred. Experienced candidates will have served as a member of the executive team, acted as a thought partner to lead significant growth, and managed the finance and administration of a $10 million to $20 million organization. Familiarity with investment management as well as a history of working with governing boards are desirable. The candidate will be a self-starter and will have experience driving the analytic framework for planning and organizational change.

This professional will have the ability to balance strategic thinking with hands on day-to-day operations. A strong complement and partner to the Director/CEO, the CFO will be relied upon for their proven leadership capabilities, good business judgment, an analytical mindset, great capacity for flexibility and adaptability to shifting priorities or needs, and sound and influential decision-making abilities. The CFO will bring a balance of strong risk management skills with a solutions-oriented mindset. Furthermore, this leader will be integral in shaping a positive and collaborative internal culture and will address opportunities and challenges in this area as Winterthur grows and evolves.

A Bachelor’s degree is required, with an MBA or master’s degree in Accounting/Finance preferred. Prior museum and/or non-profit experience is a plus. For prospective candidates with for-profit backgrounds, experience serving on non-profit boards is ideal. Lastly, willingness to attend after-hour and weekend functions as necessary.

Additionally, the successful candidate will have the following professional and personal qualities, skills, and characteristics:

Passion for the Mission 

The CFO will bring a passion for the mission of Winterthur. This is a leader who understands and embraces that the finance and operations functions of a cultural institution of this caliber are dedicated to serving the overall mission of the institution. Sensitive to Winterthur’s culture, this executive will be committed to effectively leading teams and serving as a strategic partner to the Director/CEO to support the goals of the institution. This individual will bring a deep appreciation for the business challenges that nonprofits face and an excitement to be part of a team that is focused on identifying creative and strategic solutions to help Winterthur maintain a sustainable financial and operational infrastructure in order to thrive in its next chapter. The CFO will bring sensitivity to both the artistic and business worlds.

Strategic Leadership & Management 

The CFO will have an entrepreneurial spirit and will serve as a strategic partner to the Director/CEO and Board of Directors in the development and implementation of the strategic plan, and in driving the business strategy, including identification of earned revenue streams for the organization. The Chief Financial Officer will regularly review organization structure, staffing levels, and processes to ensure alignment with present goals as well as future milestones. The CFO will understand and provide key financial advice and counsel around strategic and tactical decision-making and implications of financial and operation decisions, along with administering day-to-day financial functions at a high level, including a combination of capital projects, facilities renovations, and identifying opportunities to increase earned revenue.

This leader will have strong leadership and organizational management skills with a team building and collaborative management approach. The CFO will have strong knowledge of corporate and/or non-profit governance and will be skilled at interfacing effectively with governing boards.

Expertise in Finance and Administration 

The CFO will bring deep experience building and running a 21st-century finance department and the ability and confidence to ensure that Winterthur’s financial oversight is of the highest caliber. The CFO will be finance leader with the ability to partner on key strategic initiatives as well as “deep dive” into the details with strong quantitative and analytical skills.

This leader will have a demonstrated history of success managing finance, accounting, budgeting, internal controls, reporting, tax, compliance, filing and administrative functions including information technology, retail and public service-related operations. The CFO will have experience working with complex revenue models with strong analytical and financial modeling skills to recommend annual and long-term operating and capital budgets, financial analyses, and forecasts required for institutional operation and growth. The CFO will be knowledgeable of generally accepted accounting principles (GAAP) and financial management, including fund accounting, cash management, cost/benefit analyses, budgeting, debt-servicing, investment management, insurance/risk management, and capital campaign-related projects. The CFO will maintain a strong environment of internal controls and clean audits, and foster a culture of ethics, integrity, and compliance. As a member of the Senior Management Team, the CFO must operate with openness, collegiality, flexibility, and creativity.

Change Management

The CFO will bring strong negotiation and problem-solving skills and will foster trust and collaboration among team members, possessing the ability to manage through change with flexibility and poise. This leader will bring the ability to listen, understand differing views, influence, and drive consensus. The CFO will be an individual with unquestioned integrity, ethics and values that will allow them to build trust across the organization. In addition, the CFO will be curious and a continuous learner, to keep track of upcoming trends in the sector, ensure systems are up to date and introduce technology to improve systems.

Building Infrastructure & Operational Efficiency Expertise

The CFO will have the unique opportunity to modernize and streamline the finance and accounting infrastructure at Winterthur. This leader should have experience in the design and implementation of finance and accounting systems and will be knowledgeable about technology solutions that support those systems. The CFO must be comfortable anticipating problems and developing proactive solutions, particularly when there may be no available precedents, guidelines, or policies. As such, the CFO must have a track record of success in devising innovative solutions by drawing upon experience, research on best practices, and outreach to colleagues within a network of peer organizations. The CFO will be responsible for building, nurturing, and retaining a strong team of professionals that is focused on excellence, accountability, responsiveness, and efficiency. Moreover, this leader must also be technologically savvy, with strong IT capabilities, including various accounting software solutions.

The Chief Financial Officer will have experience managing large-scale projects, including partnering on the planning and implementation of capital projects and the financial planning and management of fundraising campaigns that support those projects. They will have experience partnering on facilities, human resources, and systems-related projects, and be flexible in adapting to emerging museum needs as they develop. The CFO will bring together data/information to inform strategic decisions and harness technology to simplify workflows, avoid duplication of efforts, and improve the overall operations of the organization. The CFO will have demonstrated expertise in a wide range of administrative functions.

Relationship Building, Collaboration & Communication 

The Chief Financial Officer will have excellent people skills, and a collaborative and flexible approach to leadership. The CFO will bring the ability to forge and maintain effective working relationships with a variety of representatives of public and private organizations, Board members, volunteers, vendors, museum staff and the general public. The CFO will be able to synthesize divergent views and coalesce all constituents around a shared plan, and will work to establish regular, structured communication across the organization. This leader will be skilled at presenting financial information that is timely, accurate and clear to a range of constituents with varying levels of expertise.

Compensation & Benefits

Salary is competitive and commensurate with experience.

Contact

Naree W.S. Viner and Medelene Beasley of Koya Partners have been exclusively retained for this search. To express your interest in this role please submit your materials here. All inquiries and discussions will be considered strictly confidential.

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Winterthur is an equal opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ applicants.

About Koya Partners

Koya Partners, a part of the Diversified Search Group, is a leading executive search and strategic advising firm dedicated to connecting exceptionally talented people with mission-driven clients. Our founding philosophy—The Right Person in the Right Place Can Change the World—guides our work as we partner with nonprofits & NGOs, institutions of higher education, responsible businesses, and social enterprises in local communities and around the world.

For more information about Koya Partners, visit www.koyapartners.com.