THE OPPORTUNITY

CEDAC is seeking a dynamic, mission-driven, hands-on and visionary Executive Director (ED) to lead the organization through its next phase of growth and development. Reporting to the Board of Directors, the Executive Director will provide strategic leadership, oversee daily operations, and build partnerships and relationships to ensure the sustainability and success of the organization. This individual will be responsible for cultivating partnerships, managing staff, and serving as the public face of the organization. The Executive Director plays a critical role in organizational leadership, in maintaining external relationships and in public policy activity; and is also directly and deeply involved in oversight of the transactions executed and services delivered by the CEDAC team.

CANDIDATE PROFILE

We recognize that there is a spectrum of lived and professional experience that will set candidates up for success in this role. While no one candidate will have every experience outlined in the position description, ideal candidates will display the following professional and personal qualities, skills, and characteristics:

Visionary Leadership

The Executive Director will have deep experience building, leading and motivating diverse teams in a mission-driven environment with a focus on collaboration, productivity, professional development and outstanding communication. The Executive Director is a strategic and forward-thinking leader able to guide the organization through transition, innovation and emerging opportunities while building on decades of achievement by the organization and its partners. The ideal candidate is a genuine partner to critical stakeholders, communicating effectively and inspiring confidence and collaboration with and among relevant public sector leaders in the Commonwealth of Massachusetts, the CEDAC board of directors, the organization’s many important partners and the staff.

Commitment to the Mission

CEDAC’s next Executive Director is committed to increasing the availability of affordable housing through support for both preservation and new development and is committed to delivering project financing and technical expertise for community-based and other nonprofit organizations engaged in effective community development in Massachusetts. The ideal candidate is excited and inspired to meet the moment where powerful institutional and political forces are aligning to make a long-term change in the availability and quality of affordable housing and the breadth and depth of community economic development in the state. The Director will embrace and strengthen CEDAC’s collaborative, inclusive, and mission-driven culture, and be a builder of opportunity for everyone involved in the work of the organization and the people it serves.

Affordable Housing Expertise

The Director will have deep knowledge and experience in the realm of community economic development and will bring an expertise, skillset and ability to sustain and enhance CEDAC’s position as a critical player in affordable housing development in the Commonwealth, particularly in early-stage predevelopment funding, technical assistance to nonprofit developers, and the wider context of community economic development including investment in the integration of early education facilities with housing.

Policy and Advocacy Skills

The role requires a sophisticated understanding of the kinds of public policy and political dynamics that are central to the housing and community economic development sector, and strong competency in building and maintaining trust relationships with leaders in the public sector, the private sector and the nonprofit organizations that are critical to CEDAC’s success. The ideal candidate is comfortable and will thrive in an environment where CEDAC plays a range of different roles in the policy arena including a strategic partner, a trusted advisor, an implementation partner, an advocate for favorable policies and approaches, and a subject matter expert.

Operational Excellence

The ideal candidate will have a track record of excellence in building and operating strong workplace communities that honor and empower diverse voices to participate in a high-performance organization. Leading CEDAC requires advanced experience with managing complex organizations in housing and/or a related field in community economic development, with emphasis on the stewardship of capital, the development of complex relationships, and the leadership of organizational operations. Supervisory and team-building skills must be at a high level to develop and empower a diverse staff that values efficiency, equity, growth opportunity and a strong connection to the mission. This leader will have a high degree of cultural competency with a range of diverse backgrounds represented on the CEDAC team, among the organization’s partners and in the communities it serves across the Commonwealth.

In addition, strong candidates will offer:

• Proven experience in affordable housing, finance, and development, with a strategic and political acumen.
• Strong communication, negotiation, and team-building skills.
• A commitment to DEI and the ability to represent CEDAC externally while fostering internal collaboration.
• Ability to foster trust, engage diverse constituents, and promote inclusivity within the organization.
• Skilled communicator who can translate complex issues for diverse audiences and build consensus.
• Curiosity and creativity in finding solutions to evolving challenges in the affordable housing sector.

COMPENSATION & BENEFITS

Salary is competitive and commensurate with experience. The salary range for this role is $210,000 – $245,000 with a generous benefits package.

CONTACT

Koya Partners has been exclusively retained for this engagement, which is being led by Kim Dukes, Andy Tarsy, and Erin Reedy. Express interest in this role by filling out our Talent Profile or emailing the search team directly at cedac_ed@koyapartners.com. All inquiries and discussions are strictly confidential. Koya Partners l Diversified Search Group is committed to providing reasonable accommodation to individuals living with disabilities. If you are a qualified individual living with a disability and need assistance expressing interest online, please email NonprofitSearchOps@divsearch.com. If you are selected for an interview, you will receive additional information regarding how to request an accommodation for the interview process.

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

About Koya Partners l Diversified Search Group

Koya Partners, a Diversified Search Group company, is the nation’s premier search firm dedicated to mission-driven leadership. Since its founding in 2004, Koya has had an exclusive focus on mission-driven clients and was founded on the belief that the right leader can transform an organization and have a deep and measurable impact on our world. Koya works with nonprofits & NGOs, responsible businesses, and social enterprises in local communities and around the world.

Diversified Search Group is consistently recognized by Forbes on its top 10 list of “America’s Best Executive Recruiting Firms” and is an industry leader in recruiting transformational leaders for a changing world. The firm is deliberately different in its approach, with best-in-class teams who have decades of experience in cultivating inclusive leaders, understanding the dimensions of diversity, and building equitable teams.

Learn more about Koya Partners l Diversified Search Group via the firm’s website.

Position Status: Full Time, Hybrid, Exempt

Summary of Position:  The Director of Housing Development and Preservation is a senior management position that leads the CEDAC housing team in the areas of predevelopment and acquisition lending as well as early-stage technical assistance.  They will work collaboratively with our borrowers to provide support and technical assistance with a strong customer service focus.  This Director will also provide direct technical assistance on complex housing preservation issues to nonprofit developers, tenant advocacy agencies and public agencies.

The Director of Housing Development and Preservation facilitates the successful management of all phases of the real estate development process.  They provide advice to borrowers during development and manage the predevelopment and acquisition loan process from underwriting to disbursement.  They also work with borrowers to achieve successful project completion by helping to identify appropriate funding sources as needed.  The Director of Housing Development and Preservation reports to CEDAC’s Executive Director and supervises Project Managers on the housing team.

CEDAC is an Affirmative Action/Equal Opportunity Employer and encourages applications from candidates from diverse personal, cultural, and ethnic backgrounds.  CEDAC will provide job-specific training as well as professional development opportunities.

CEDAC is a publicly-created community development finance institution (CDFI) that serves as a vital financial and technical assistance resource to nonprofit organizations engaged in effective community development in Massachusetts.  We provide financial resources and technical expertise for community-based and other nonprofit organizations building thriving communities.  We work closely with state and local partners to assist affordable and supportive housing production and preservation programs.

CEDAC provides predevelopment and acquisition loans and technical assistance to nonprofit organizations involved in affordable housing development and preservation across Massachusetts.  In addition, CEDAC staff performs the underwriting activities for several housing loan and grant programs for the Massachusetts Executive Office of Housing and Livable Communities.

CEDAC operates collegially, in a supportive workplace atmosphere.  The ideal candidate must be able to take initiative and operate independently, without substantial oversight.

Qualifications

Candidates for this position should have at minimum a bachelor’s degree and at least 12 years related experience in affordable housing lending and/or development, including progressively responsible experience in real estate finance.  A relevant master’s degree may be substituted for two years’ experience.  In this position a master’s degree is preferred.  Candidates should have previous senior management experience either in community-based development organization or a public or private development finance agency is required for this position.  Leadership in developing, implementing, and managing current housing and community development policies and financing programs is an important attribute.

Excellent written and verbal communications skills are required.  The ability to work at a high level independently is especially important, as is a commitment to non-profit affordable housing development.

Compensation/Benefits

Full-time starting salary range is between $140,000 – $156,150 commensurate with experience and education.

In addition to a competitive salary, this position offers an impressive benefits package that includes:

• Health, dental, life, and disability insurance (please note that at the current time, CEDAC pays the entire medical and dental insurance HMO premium for employees and their qualified dependents).
• Section 125 flexible spending account for medical and dependent care.
• 403(b) deferred compensation plan, vesting immediately.
• Three weeks of paid vacation to start.
• Thirteen paid holidays.
• Three personal days.
• Twelve sick days.
• Hybrid remote/in-office work schedule.

*Please note: Applicants need to live in or are expected to relocate to Massachusetts.

 COVID Policy

CEDAC complies with all state and federal guidelines that pertain to Covid-19.  All employees must demonstrate that they are fully Covid-19 vaccinated upon hire.  Employees shall thereafter be required to demonstrate that they continue to be up to date with Covid-19 vaccinations in accordance with the CDC definition of being up to date.

 Application Process

Please submit your resume and cover letter directly through our application below.

Position Status: Full Time, Exempt

Summary of Position:   The Director of Housing for Central and Western Massachusetts (the Director) is responsible for delivery of technical assistance and lending to CEDAC’s non-profit community development partners in the central and western regions of the Commonwealth. The Director is responsible for managing relationships with public agencies and lenders who finance projects in the geographic area; providing technical assistance and underwriting predevelopment, site acquisition, and deferred payment loans; managing a portfolio of predevelopment, site acquisition, and deferred payment loans; and bringing major policy or project issues to the Executive Director for consultation and direction as necessary. 

CEDAC is an Affirmative Action/Equal Opportunity Employer and encourages applications from candidates from diverse personal, cultural, and ethnic backgrounds. CEDAC will provide job-specific training as well as professional development opportunities. 

CEDAC is a publicly-created community development finance institution (CDFI) that serves as a vital financial and technical assistance resource to nonprofit organizations engaged in effective community development in Massachusetts. We provide financial resources and technical expertise for community-based and other nonprofit organizations building thriving communities. We work closely with state and local partners to assist affordable and supportive housing production and preservation programs. 

 CEDAC provides predevelopment and acquisition loans and technical assistance to nonprofit community-based organizations involved in affordable housing development and preservation across Massachusetts. In addition, CEDAC staff performs the underwriting activities for several housing loan and grant programs for the Massachusetts Department of Housing and Community Development. 

CEDAC operates collegially, in a supportive workplace atmosphere. The ideal candidate must be able to take initiative and operate independently, without substantial oversight. The Director reports to the Executive Director. 

Compensation/Benefits 

Full-time starting salary range: $138,800- $146,000 commensurate with experience and education. 

In addition to a competitive salary, this position offers an impressive benefits package that includes: 

*Health, dental, life, and disability insurance (please note that at the current time, CEDAC pays the entire medical and dental insurance HMO premium for employees and their qualified dependents).
*Section 125 flexible spending account for medical and dependent care.
*403(b) deferred compensation plan, vesting immediately.
*Three weeks of paid vacation to start.
*Thirteen paid holidays.
*Three personal days.
*Twelve sick days.
*Hybrid remote/in-office work schedule.

Please note: Applicants need to live in or are expected to relocate to Massachusetts. 

Qualifications 

Minimum bachelor’s degree and ten years related experience, including progressively responsible experience in real estate finance and development.  A relevant master’s degree may be substituted for two years’ experience.  Previous senior management experience either in community-based development organization or a public development finance agency preferred. Demonstrated leadership in developing, implementing, and managing current housing and community development policies and financing programs.   

Excellent written and verbal communications skills required.  Strong computer skills, including spreadsheets and word-processing required.  The ability to work at a high level independently is especially important, as is a commitment to non-profit development.  

Ability to travel to central and western Massachusetts required and residency in this area preferred. 

COVID Policy  

CEDAC complies with all state and federal guidelines that pertain to Covid-19. All employees must demonstrate that they are fully Covid-19 vaccinated upon hire. Employees shall thereafter be required to demonstrate that they continue to be up to date with Covid-19 vaccinations in accordance with the CDC definition of being up to date.   

Application Process  

Please submit your resume and cover letter directly through our application below.