Cinnaire is seeking a Director of Development for its new Community Development lending program, a key driver of future growth for the organization. This search represents an opportunity to join this national leader in community development finance as it continues to build out a new community lending program in newly targeted communities in the Great Lakes and Mid-Atlantic regions. The Director of Development will facilitate the growth strategy and build key relationships with both current and new investors and partners around the country as s/he secures operating support for the program. For more information about the organization, please visit www.cinnaire.com.
Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.
Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 Jobs, 653 affordable housing projects, and improving lives of 97,000 low- and moderate-income Individuals.
The organization does its work through four broad divisions: Its Equity Group manages its Low Income Housing platform, as well as other innovative capital solutions; Cinnaire Lending, provides debt financing for affordable housing (LIHTC) and other community development projects, including the FHLB Affordable Housing Program grant subsidies and the management of the New Markets Tax Credit program; Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects; Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint. The current search is part of a new initiative within Cinnaire Lending, creating a new capacity for financing smaller scale but impactful community development projects in targeted priority areas. Through an extensive strategic planning process, Cinnaire has identified three geographic areas as its Priority Cities (Detroit, MI; Wilmington, DE; and La Crosse, WI). Cinnaire expects to initially focus on these three cities and then replicate its community development lending initiatives to other parts of its footprint in future years.
The Director of Development (DD) is a new position which is being created to support all community development loan origination activities with initial focus on the Wilmington, Delaware, Detroit, Michigan and La Crosse, Wisconsin markets (Priority Cities). Given the fact that Cinnaire already has a well-developed function providing pre-development, acquisition, and permanent loans related to its extensive LIHTC equity investment program, the new program is intended to focus on smaller affordable housing projects and other community development projects, such as community facilities which are not served by the existing programs.
The DD is responsible for the development and implementation of Cinnaire’s strategy for partnering with foundations and other charitable funders to grow Cinnaire’s work in the community development field. The DD is the leader of the strategy and will also be a major contributor in the development of Cinnaire’s broader funding strategy for its community development work. In addition, the DD, along with the Director of Lending, will have a leadership position in developing and refining Cinnaire’s Priority Cities work, in partnership with the Presidents of Cinnaire Lending and Cinnaire Solutions.
The DD is a member of Cinnaire’s management team, and this position has a unique opportunity to help advance Cinnaire’s growth and diversification agenda. The incumbent will use strong strategy, communication and organizational skills to collaborate with the Chief Financial Officer, Chief Strategy Officer, President of Lending, and Priority City market leaders, and/or external business partners to develop funding strategies and plans, and will lead the execution of Cinnaire’s strategies related to accessing philanthropic funding. The DD will also coordinate all strategies related to our CDFI Fund grant raising work (currently the Capital Magnet Fund program and the Financial Assistance program.)
The DD reports directly to the Chief Financial Officer (CFO), and provides critical support to the President of Lending (PL) on securing the needed operating funds and capital resources related to affordable housing lending and other community development lending offerings to better meet target needs. The DD also works to strengthen business development strategies in priority community lending markets. The DD will work with the Cinnaire Priority City market leaders to develop specific fundraising initiatives supporting the community development work in those communities, and to identify and build relationships with both current and potential new funding partners in order to meet fundraising goals.
The Director of Development can be based in any of the cities where Cinnaire has an office (Detroit, Wilmington, Madison, Grand Rapids, Lansing, Indianapolis, Chicago). The position will require some regular travel to the target cities.
Key priorities for the first year include the following:
- Develop appropriate fundraising policies, procedures and tools for the Community Development program;
- Work with Priority City market leaders to develop relationships with current and potential funding partners;
- Secure $500,000 in grant support for the Community Development program
- Lead the efforts around current CDFI grant funding opportunities (currently the Capital Magnet Fund and Financial Assistance program)
PRIMARY DUTIES AND RESPONSIBILITIES include the following.
- Develop and implement a fundraising strategy that transitions Cinnaire from a new entrant into the philanthropic marketplace to an organization that is broadly known and supported by philanthropic funders active in affordable housing and community development.
- Understand the philanthropic marketplace for Cinnaire’s industry, identify potential funders, and develop strategies to build relationships with each targeted funder.
- Cultivate relationships with current and prospective grantors.
- Collaborate with the Director of Lending and the President of Cinnaire Lending to help shape our Priority Cities strategy to maximize alignment with charitable funders.
- Collaborate with the Finance team to develop broader relationships with banks and other potential investors in support of Cinnaire’s community development and lending work.
- Develop strategic relationships that bring resources to Cinnaire’s work.
- Manage Cinnaire’s responses to funding opportunities.
- Assist in formulating concept requests and develop pitches for funders in support of Cinnaire’s ongoing business endeavors and new initiatives.
- Partner with Cinnaire staff to meet Cinnaire’s fundraising goals through research, prospect identification, proposal development and retention activities.
- Present timely analyses of Cinnaire’s fundraising results to the Executive Leadership Team.
- Prepare the annual fundraising budget and monitor results with the Finance Team against the budget.
The ideal candidate will meet the following requirements:
The Director of Development is expected to be a collaborative leader and professional who is comfortable operating in a wide variety of situations that promote the organization and achieve funding and other resource results.
The Director of Development is also expected to:
- Be an articulate and energetic organizational spokesperson with a proven track record of soliciting and closing gifts and grants;
- Illustrate measurable success in fundraising and communications in progressively responsible positions;
- Be knowledgeable about the community development field;
- Maintain sound technical skills, analytical ability, good judgment, and capacity for detail;
- Be a well-organized, self-directed, politically savvy team player;
- Possess the strategic thinking capability to create a compelling case for Cinnaire to funders;
- Be a succinct and persuasive oral and written communicator and presenter;
- Demonstrate the capacity to manage multiple activities and efforts;
- Illustrate the capacity to collaborate effectively in ways that positively influence organizational outcomes;
- Exhibit proficiency with Microsoft Office Suite and Raiser’s Edge or Salesforce;
- Demonstrate a clear affinity for the community development mission and philosophy;
- Possess and maintain the highest personal and professional integrity, compassion and standards of excellence.
The successful candidate will exhibit the following key competencies:
- Commitment to the “Why” of Cinnaire – its unwavering belief that all people deserve the opportunities provided by living in healthy communities;
- Superior written and verbal communication skills
- Demonstrated leadership ability
- Ability to set priorities and delegate tasks effectively
- Superior organizational skills; ability to meet deadlines and manage multiple priorities at once
- Must have strong creative judgment, and ability to act as strong influencer of creative ideas while also collaborating with business partners to achieve desired results
- Superior interpersonal skills and ability to work constructively with diverse constituents
Travel Requirements: This position requires 20-30% travel within the Cinnaire footprint in the first year
The position carries a competitive salary with growth potential, as well as a comprehensive benefits package.
For more information, please contact our search consultant, David Erickson-Pearson at 303-703-6165, or email@example.com. To apply, please submit resume, cover letter and salary requirements to firstname.lastname@example.org.
Cinnaire provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, status as a Vietnam-era or disabled veteran or any other characteristic protected by law. Cinnaire complies with all applicable federal, state, and local laws, regulations and ordinances prohibiting employment discrimination.