Finance Chair + Board Member

Leaders of Today and Tomorrow (LOTT) ignites women to lead with confidence. When women are ignited to lead with confidence, their leadership will build stronger, more equitable communities that will transform the world. We advance women’s leadership by inspiring emerging leaders through an intensive fellowship where emerging women leaders are matched with mentors and attend workshops led by local women leaders.

The Leaders of Today and Tomorrow (LOTT) is an active and volunteer-only run organization. We rely on volunteers who generously give time, expertise, talent, and enthusiasm to make the program happen; they are crucial to the structure and success of the organization. We are seeking a volunteer to join our Board of Directors as a Board Member on the Finance Committee. This is a pipeline position so once your year as a Board Member on the committee, you would move into the position of Treasurer. If you have experience in Finance plus a strong desire to support women’s leadership in the Twin Cities, please apply.

Time Commitment: 10+ hours per month

Meeting and Communication Requirements

• Special Events: Attend Graduation and other organized special events.

• Meetings:

  • Lead committee meetings.

  • Attend and take a leadership role during Board meetings held from 6-8 PM on the second Tuesday of each month.

  • Optional: Attend Executive Committee meetings from 7-8pm on the fourth Monday of each month.

  • May require day time availability for banking transactions.

• Meeting Preparation:

  • Update meeting agendas for Board meetings no later than the Thursday before the board meeting.

  • Review agenda and supporting materials before board and committee meetings.

  • Read the meeting notes if unable to attend.

• Email and Slack: Check and respond to LOTT emails and Slack messages at least twice a week.

Financial Contribution

• Financial Support: Make a personally significant financial contribution to LOTT each fiscal year. Every contribution, no matter the size, is helpful and valued.

Role Responsibilities:

• Possess a strong commitment to the mission of LOTT.

• Support LOTT’s commitment to a diverse board, fellowship, and programs that reflect the communities we serve.

• Actively participate in committee work

• Engage in creating and implementing strategic plans for LOTT.

• Approve LOTT’s annual budget and make informed decisions on material business matters.

• Be informed and meet all legal and fiduciary obligations.

• Regularly review outcomes, evaluate impact, and measure performance and effectiveness of LOTT programs and activities.

• Be willing to develop, maintain, and build a resource network for Twin Cities women. Use this network to help LOTT meet its goals.

• Actively engage in fundraising activities.

• Contribute to inclusive, generative, and collaborative discussions during decision-making processes.

• Oversee daily accounting operations and maintain accurate, timely financial records in accordance with GAAP and nonprofit accounting standards.

• Maintain QuickBooks, the general ledger, and supporting financial documentation.

• Manage accounts payable, accounts receivable, payroll coordination, cash management, reimbursements, vendor payments, and banking relationships.

• Prepare and review monthly financial statements, supporting schedules, and reports for leadership and the Board.

• Lead monthly and year-end close, including journal entries, account reconciliations, and general ledger maintenance.

• Monitor cash flow and provide financial analysis and recommendations to support operational and strategic decision-making.

• Partner with the board and Chair on the annual budget, financial forecasts, and budget-to-actual variance analysis.

• Complete Form 990 preparation, and other required reporting for annual taxes.

• Ensure compliance with internal controls, grant and donor reporting requirements, financial policies, tax obligations, record-retention standards, and audit requirements.

• Prepare financial reconciliations for events, grants, and organizational initiatives.

• Identify and implement improvements to accounting processes, financial systems, and operational efficiency.

• Perform other financial, accounting, and administrative responsibilities that support the mission and strategic priorities.

Qualifications

• Associate or bachelor’s degree in accounting, finance, or a related field, or an equivalent combination of education and experience.

• Advanced proficiency in QuickBooks.

• Hands-on experience with accounts payable, accounts receivable, account reconciliations, month-end close, and payroll processing or coordination.

• Strong understanding of accounting principles, exceptional attention to detail, and excellent organizational skills.

• Ability to manage competing priorities and deadlines, work independently, and communicate clearly in writing and verbally.

• Demonstrated integrity and ability to handle confidential information.

• Experience with nonprofit accounting preferred

Policies

This position is unpaid. Volunteers will be asked to complete a conflict-of-interest disclosure and a confidentiality agreement, and will be subject to a background check.