Job Description

President & Chief Executive Officer
Prosperity Now

The Organization
Prosperity Now (formerly the Corporation for Enterprise Development – CFED) is a national nonprofit organization dedicated to ensuring our economy works well for everyone. Founded in 1979, Prosperity Now aims to fulfill its mission: to build an economy that is just, fair, and free from structural racism, where every person, family, and community has the power to build sustainable wealth and prosperity. The organization seizes opportunities to create, identify, test, and amplify new and existing systems-oriented solutions that address the root causes of inequity and racial economic injustice.

Prosperity Now advances a unique combination of in-depth research and data-driven solutions public policy advocacy, network engagement and movement building, and scalable, practical solutions — all aimed at ensuring financial security, expanding economic mobility, and building assets and wealth for those who have been systemically excluded. A central focus of our work is identifying and addressing systems conditions that hold racial and ethnic economic inequity in place. We strategically leverage our suite of core functional and subject matter expertise, assets, and capabilities in our work across diverse sectors and stakeholders to:

• Convene and mobilize (movement building);
• Inform and design solutions using human-centered design and high-quality data and research to address racial and ethnic economic inequity, including the Black Wealth Data Center and the Economic Opportunity Narrative Alliance;
• Work with community-based service providers to design, pilot, test, and amplify solutions for adoption and scale;
• Engage lawmakers at all levels of government to ensure they have both the knowledge and the will needed to advance policies that enable meaningful mobility;
• Equip advocates with the data and tools they need to fight for a more prosperous economy;
• Build the capacity of leaders and organizations;
• Collaborate with like-minded nonprofits and think-tanks across the country to ensure everyone can prosper; and
• Lift-up the voices and priorities of those who live and work in the communities with which we partner.

Prosperity Now has a robust community of more than 24,000 practitioners, advocates, and researchers across all 50 states and D.C. Through our broader community and community networks we educate, connect, and mobilize the field to Such efforts address a wide range of issues, including: entrepreneurship, baby bonds, consumer protections, equity in the tax code, increasing affordable housing and removing barriers to saving and building wealth. The capstone of this work is the biannual Prosperity Summit. 

Based in Washington, DC, Prosperity Now has a staff of 75 and an annual budget of $22 million.

The Opportunity
The Position
Prosperity Now is seeking a collaborative leader capable of guiding a dynamic, multi-faceted institution to its next level of impact. While preserving the organization’s commitment and national leadership around issues of asset and wealth building and financial stability, security, and prosperity. The President and CEO (President) will refine and implement strategic initiatives so that both internal and external stakeholders can galvanize around unified priorities and goals.

It's an ideal time to join the Prosperity Now organization. The vision is clear, the impact is set, and the reputation is strong. Prosperity Now is recognized for their expertise in translating findings from pilots and research into actionable policy proposals as well as incubating big ideas and solutions through narrative change, movement building, and leveraging networks. The President will be joining the organization following a thorough strategic planning process which emphasized Prosperity Now’s unwavering commitment to racial economic justice. The President will be charged with implementing and assessing the strategic plan while also building internal culture to position Prosperity Now as a convener, intermediary, and thought leader in economic equity work, advancing outcomes for marginalized communities. 

The President will direct a robust institution – its programs, operations, and staff. The President will set the tone for an inclusive culture and invest in the current and future human capital at Prosperity Now. Reporting to the Board, and partnering with a strong leadership team, the President will ensure that the organization is fiscally sound through new revenue strategies, being operationally efficient, and innovative. Additionally, as Prosperity Now’s chief advocate and fundraiser, the President will diversify funding and continue to seek and engage both relevant individual and institutional partners to help develop resources to further Prosperity Now’s bold agenda.

During the President’s first year, it is important that they:

• Thoroughly understand Prosperity Now—its mission and values, history, culture, body of work, partners and stakeholders, operations, and believe in its potential;
• Forge relationships of transparency, trust, and collaboration with the board, senior leadership, and staff that continue to bring forth their best efforts and talents;
• Create a sense of stability within the organization following a period of transitions;
• Assess the entire Prosperity Now structure—ensuring that staff are well-positioned, operations are efficient, and programs are mission-aligned;
• Identify a revenue growth strategy; and
• Realize the recent institutional vision that is redefining racial equity in Prosperity Now’s internal culture and its external work.

Key Responsibilities
Additionally, it is expected that the President will:

Vision and Strategic Planning

• Refine fundamental identity questions, critically assessing the value of Prosperity Now’s primary strategies – research, public policy, community practice, and private market interventions. Identify and grow the powerhouse program(s) that will advance Prosperity Now from the margins of many critical issues to the center of truly transformative change;
• Implement and assess Prosperity Now’s comprehensive strategic plan by collaborating with staff, ensure alignment between the plan’s stated goals and the organization’s actual programs and organizational capacity;
• Develop and operationalize objective metrics for evaluating Prosperity Now’s success and measuring its impact;
• Preserve and elevate the institution’s stature as an important convener and trusted partner; and
• Continue to build, assess and strategically leverage Prosperity Now’s partnerships with large-scale private sector entities, developing products, platforms and services that benefit consumers, the marketplace, and Prosperity Now.

Organizational Development and General Management

• Rebuild culture, grounded in diversity, equity, and inclusion that supports the agency and productivity of all staff;
• Supervise a highly skilled professional team; engage and inspire a spirit of collaboration and cohesion; Provide meaningful opportunities for staff development and growth;
• Strengthen Prosperity Now’s infrastructure – its human resources, operations, facility management, financial systems, information technology systems, processes and procedures, and make necessary improvements for optimal efficiency;
• Oversee all financial systems, including budgetary processes, audits, cash flow management and financial analysis; ensure that sound financial structures are in place and that reporting systems are accurate; and
• Continue to engage and build the Prosperity Now Network – at the local, state, and national levels.

Resource Development

• Conduct a deep assessment of Prosperity Now’s current business and financial models;
• Cultivate and maintain solid relationships with Prosperity Now’s lead donors to encourage ongoing support; broaden donor base to assure that Prosperity Now’s funding base is robust and diverse; and
• In partnership with appropriate staff and board, begin to develop new revenue models (with an eye towards earned revenue) aimed at ensuring long-term financial sustainability.

Communications and External Relations

• Serve as a highly visible national thought-leader and advocate; and
• In partnership with the senior staff, maintain a broad communications framework for Prosperity Now with clear objectives and resource requirements, including the strategic use of publications, media-relations, and the proactive integration of appropriate technological strategies.

Board Relations and Governance

• In partnership with the Board’s Chair help to identify new Board members whose talents, interests and commitment will further Prosperity Now’s mission and expand support;
• Plan and structure meetings, committees, and retreats of the Board, as appropriate with the Chair and Executive Committee;
• Support the Board Chair in encouraging all Board members to participate actively; facilitate Board involvement in activities important to Prosperity Now beyond the Board room;
• Partner with the Board to develop and monitor standards of performance and principles for the conduct of Prosperity Now’s work;
• Keep the Board advised of the organization’s activities and financial position; provide the Board sufficient and high-quality information for making sound policy decisions; and
• Act as a liaison between staff and Board.

The Candidate
Experience and Professional Qualifications
Ideally, the President should have:

• Experience leading and managing an entity of a scale, function, and/or complexity similar to that of Prosperity Now, with commensurate fiscal responsibility – in the nonprofit, private or public sector;
• Subject-matter expertise in one or more fields supporting financial empowerment and wealth building for low-income individuals and/or families, or an adjacent field;
• An unwavering commitment to racial equity and social justice; demonstrated leadership of balancing stakeholders with issues of race at the intersection of a range of justice, societal, political and economic dynamics;
• Well-networked with substantial experience in the national-level policy ecosystem, demonstrated ability to influence and build credibility with a range of leaders, thinkers, and advocates in relevant fields. An understanding of the Federal government, but with reach in the broader state and local government, corporate and nonprofit sectors;
• Experience aligning an organization for greater impact through implementation and assessment of a strategic plan;
• Ability to work effectively with and gain the respect and support of highly accomplished staff, board and stakeholders from a wide array of backgrounds and political perspectives; Strong organizational, analytical and strategic planning skills;
• Demonstrated experience in team and culture building;
• Strong business and administrative acumen;
• Working knowledge of relevant legislation and regulations, ideally at the federal level and in multiple states and/or regions; Experience in a sophisticated policy, political, or advocacy environment considered a plus;
• Successful fundraising experience, including developing and framing the organization’s work, mission and goals to appeal to a broad range of potential partners – institutional and individual; strong political, social corporate and foundation contacts considered a plus;
• Experience as a strong spokesperson with a range of constituents, including media; strong written and oral communications skills; and
• Relevant lived experiences that provide a compelling context for this leadership experience.

Personal Characteristics
The successful candidate should be:

• Personally committed to racial equity, justice, diversity, and inclusive economy;
• A strategic and entrepreneurial thinker who is able to think in interdisciplinary ways, conceptualize new ideas and anticipate and act on events which may create opportunities for Prosperity Now;
• Able to develop a sense of team spirit and common purpose; maintaining an environment where mutual respect, collegiality and diversity are valued;
• A thoughtful, persuasive negotiator; open and responsive to the ideas of others; able to prioritize and balance competing interests, and build consensus from disparate viewpoints;
• Politically sophisticated, able to navigate both Democratic and Republican circles at local, state, and national levels;
• Authentic, transparent, fair, and self-possessed; one who shares information readily, listens well, and is used to seeing and grappling with nuanced issues; and
• Emotionally intelligent, with great empathy, humanity, courage, and absolute integrity.

Compensation
The salary range for this position is $320,000 to $370,000.

Prosperity Now has provided a compensation range that represents its good faith estimate of what the organization may pay for the position at the time of posting. The salary offered to the selected candidate will be determined based on factors such as the qualifications of the selected candidate, internal salary equity considerations, and available market information at the time of hire, but not based on a candidate’s protected status. Prosperity Now may ultimately pay outside the posted compensation range.

Prosperity Now is proud to be an Equal Opportunity Employer. We believe that diversity of background and perspective are strengths, and seek to continue to grow a diverse, highly committed, skilled, and collaborative staff. We encourage candidates from various backgrounds to apply.

Procedure for Candidacy
Confidential review of applications, nominations and expressions of interest will begin immediately and will continue until an appointment is made. To apply for this position, please forward a resume and request applications materials to ProsperityNowCEO@kornferry.com

 

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