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Associate, New Markets Tax Credit

What We Do:

Nonprofit Finance Fund (NFF) works toward a more just and vibrant society through:

Financing that invests in missions. Our customized financing strengthens hardworking nonprofits and social enterprises.

Consulting that empowers leaders. Our experts equip you to make financial decisions that best serve your mission.

Partnering on big problems. Service providers, funders, and investors turn to us for new ways to collaboratively support stronger, fairer communities.

Learning that helps illuminate paths to solving complex social issues. Sharing experiences and expertise – from ideas to anecdotes to cutting-edge data and analysis – makes it easier.

NFF advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing that empower leaders, organizations, and ideas. A leading Community Development Financial Institution (CDFI), NFF currently manages over $310 million. Since 1980, we have provided almost $700 million in financing and access to additional capital in support of over $2.3 billion in projects for thousands of organizations nationwide.


The New Markets Tax Credit is a federal tax credit program that facilitates private investment for capital projects that will generate benefits to the low-income communities and low-income people. These benefits may be in the form of new jobs or new goods and services. The tax credits are awarded by U.S. Department of Treasury, Community Development Financial Institution Fund the (“CDFI Fund”) to government-certified entities on a competitive basis. NFF is a seven-time awardee and has received a total of $281 million in allocation. NFF deploys the tax credits primarily to nonprofit organizations that create or expand health, education, workforce and human services for underserved people.


Position Summary:

The Associate supports NFF’s New Markets Tax Credit work including tax credit deployment, program compliance, reporting, and portfolio management.  The Associate will also assist with preparing the application for NMTC allocation authority and selecting the projects that will receive the tax credits.  The ideal candidate will have experience in regulatory and compliance reporting and financial analysis.  In addition, the ideal candidate will have a demonstrated interest in or commitment to supporting low-income communities and/or the nonprofit sector, as well as strong communication and relationship building skills.

Through regular interaction with NFF staff, consultants, borrowers, investors and community members, the Associate will support the management of NFF’s NMTC investments (currently a $178 million portfolio) and compliance with the NMTC program.

This position will be based in NFF’s New York headquarters and will report to the NMTC Portfolio & Compliance Manager.


Primary Duties and Responsibilities:

  • Develop and maintain New Markets Tax Credits program expertise, including knowledge of applicable rules, regulations and guidance
  • Interact with borrowers, project representatives, and community stakeholders to collect and manage required reports and community and economic impact data; refine measurement and tracking of impact data
  • Perform loan monitoring responsibilities, including review of construction loan disbursement requests, collection and review of reports and certifications, completion of site visits, financial analysis and risk ratings of borrowers, and analysis of overall portfolio quality in coordination with other team members (NMTC Staff, Portfolio Management Staff, etc.)
  • Maintain compliance-related files and tools
  • Assist with the submission of compliance reports to the CDFI Fund and the I.R.S.
  • Assist with the collection of data for NMTC Allocation Application
  • Assist with collection and review of data for underwriting of new NMTC opportunities; including confirming project eligibility and supporting underwriting team
  • Coordinate meetings for NFF’s NMTC advisory committee, and prepare meeting agendas and minutes
  • Assist with the preparation of reports to management, the board of directors, the advisory board, investors, and government agencies
  • Recommend process improvements


Essential Requirements for Education and/or Experience:

  • Bachelor’s degree or equivalent combination of education and experience
  • 2-4 years of work experience, preferably in the fields of financial services, accounting, or consulting
  • An organized and meticulous approach to work with strong attention to detail
  • Strong time management, multi-tasking and organizational abilities, and ability to coordinate and prioritize among conflicting demands and deadlines
  • Excellent Microsoft Excel skills required in addition to proficiency with other Microsoft Office applications


Specialized Knowledge/Beneficial Skills and Experience:

  • Experience reading legal agreements and documents
  • Familiarity with real estate and financing terminology and related concepts
  • Familiarity with nonprofit accounting
  • Experience with the NMTC program
  • Knowledge of Salesforce



Please Note:

All salaries are commensurate with experience and include an attractive benefits package.

Nonprofit Finance Fund is committed to diversity, equity and inclusion in its workforce.  Diverse candidates are encouraged to apply.

NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws. Upon request, reasonable accommodations in the application process will be provided to individuals with disabilities.

This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.

When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.

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