Description

NewAlliance Foundation was established in 2004 through a contribution of $40 million in stock from NewAlliance Bancshares, Inc. at the time of the Bank’s initial public offering. Committed to the same long history of philanthropy of its predecessor, The New Haven Savings Bank, NewAlliance Bancshares formed the Foundation to enhance economic vitality and improve the quality of life for residents in the communities served by the bank. In 2011, upon the merger of NewAlliance Bancshares, Inc. with First Niagara Financial Group, NewAlliance Foundation (NewAlliance) became a private, independent foundation serving 42 Connecticut communities.  Since its inception, NewAlliance Foundation has approved over $30 million in grants to local community organizations.

NewAlliance’s mission is to support organizations that advance literacy, build communities, and dismantle systems that perpetuate poverty and racism.

NewAlliance accomplishes its mission by providing financial support to charitable organizations addressing diverse community needs in the arts, community development, health & human services, and youth & education, with a particular emphasis on programs that empower people through literacy development. 

NewAlliance supports nonprofit organizations in the Greater New Haven area through strategic grantmaking, funding innovative programs, general operations, sponsorships, and capital campaigns. Key initiatives include “READy for the Grade”, a partnership with public libraries to prevent summer reading loss for K-3 students from low-income families, and the “Hi-5” Literacy Award, recognizing excellence in literacy programming. 

NewAlliance is a small, responsive, and well-regarded organization that embraces innovation, risktaking and healthy debate, and deeply values and respects its community relationships.  Its board is engaged and open to innovation, with a history of supporting executive leadership in piloting new initiatives. As a lean, nimble organization, NewAlliance has the capacity to turn ideas into action quickly, while encouraging  its leaders to be resourceful, adaptive, and confident managing both strategy and execution.

The Opportunity

NewAlliance Foundation is based in New Haven.  The current staff consists of 2.5 FTEs, including the Executive Director, Director of Programs, and a part-time Administrative Assistant.  The organization is governed by a dedicated 13-member Board of Directors. Board Members sustain many active committees, including: Audit Investment, Nominating/Governance, Strategic Assessment, ad hoc Literacy and ad hoc Advocacy.  NewAlliance’s endowment assets total approximately $32 million, and its current operating budget is $1,685,000.  In its most recent fiscal year, the Foundation made 127 grants totaling $980,000 across two grant cycles.

Currently led by Maryann Ott, who has announced her retirement after 21 years at NewAlliance, the Foundation is at an exciting inflection point. The new Executive Director will join the Foundation at a moment when there is both momentum and expectation: the strategic plan is in place, the community relationships are strong, and the Board is continuing to move from planning to action - creating the opportunity for a strategic, creative, compassionate leader and change agent to partner with dedicated internal and external stakeholders to:

expand NewAlliance’s impact amid Connecticut’s challenges, including educational disparities and economic inequities; 
reimagine NewAlliance’s structure and legacy practices to fully reflect the organization’s values and community needs.
advance its efforts to become an anti-racist organization and;
accelerate the implementation of NewAlliance’s clarified strategic direction.

Reporting to the Board, the new Executive Director will collaborate with the organization’s staff, board, and other partners to realize its vision and advance its mission. The Executive Director will balance leadership and vision with hands-on operational management.  The Executive Director will also be a visible, active representative and spokesperson for NewAlliance’s mission in the communities it serves and ensure the organization’s financial strength and integrity.

Requirements

Ideally, the Executive Director will have the following qualifications:

A minimum of 8 years in a senior leadership role in a philanthropic or nonprofit organization is preferable, with responsibility for operations and finance, staff supervision and development, board engagement, and external relations; 
Strong organizational, problem-solving, and collaboration skills to facilitate thoughtful decision making and enable others to contribute fully to the overall success of the organization;
A successful track record managing a healthy organizational culture as a unifying team builder who inspires collaboration and accomplishment among staff;
Ability to work closely with staff and advisors in developing and managing budgets; Experience working with investment professionals and/or an investment committee is desirable;
Strong cultural competency and demonstrated successful experience working with diverse teams and advancing work that centers racial, gender, social, and economic equity; 
Demonstrated ability to build genuine, productive, trusting relationships with a diverse array of stakeholders and partners; 
Excellent written and verbal communication skills and the ability to communicate effectively in a range of communities and settings;
Lived experience and understanding of the communities that NewAlliance serves is highly desirable; An understanding of the culture and landscape of New Haven/Greater New Haven and Connecticut in general is also desirable; 
A background in literacy, education, community development, or equity-focused initiatives preferred;
High level of emotional intelligence, compassion, kindness, humility, integrity, and the capacity for deep listening and self-reflection;
Openminded, upbeat, charismatic, and approachable.
Bachelor’s degree or equivalent required.