Chief Financial and Operations Officer search for Pennington School

The Pennington School

Chief Financial and Operations Officer

Start Date: on or before September 1, 2025

Co-ed Boarding and Day School, Grades 6-12

535 students

112 West Delaware Ave, Pennington, NJ 08534

www.pennington.org

George Sanderson

Educators Collaborative is pleased to be assisting The Pennington School in their search for a Chief Financial and Operations Officer to begin on or before September 1, 2025.

An Outstanding Opportunity for a Chief Financial and Operations Officer

The Pennington School seeks a Chief Financial and Operations Officer who enthusiastically embraces and champions the School’s values of honor, virtue, and humility. The successful candidate will bring a professional approach distinguished by extensive experience and knowledge, strategic thinking, enthusiasm, and a collaborative spirit.

A Thriving Independent School in the Heart of New Jersey

The Pennington School was founded in 1838, when secondary education was considered a luxury in the United States. Nevertheless, the New Jersey Conference of the Methodist Church established the Methodist Episcopal Male Seminary at Pennington, opening its doors with three students. Housed in what is currently the center section of the “Old Main” building, students pursued a “virtuous education.” In its early years, students at Pennington boarded at homes near the School and were required to attend the Methodist or Presbyterian Churches in town, twice on Sundays.

Today, Pennington sees its long history come alive when it looks at the profile of its current community. The student body represents over twenty different religions and over thirty-five different countries and their cultures. Over thirty percent are students of color, and about thirty-five percent receive some level of financial support from Pennington. An appreciation for and understanding of different learning styles informs the School’s teachers in their pursuit of excellence, and the Pennington community is grounded in the core values of honor, virtue, and humility. It is the richness of its history and its long-held belief in individual excellence that provides the School with its source of deep Pennington Pride.

While the majority of Pennington’s students come from the surrounding communities, the School has a boarding program that serves approximately 140 students from the United States and abroad. Many students are attracted to the boarding experience at Pennington because of the independence it affords them. Boarding students find that they are better prepared for the academic rigor and social challenges of college by learning and living together in secondary school. You can learn more about how Pennington serves its boarding population here. Over 50 members of the teaching faculty live on campus, and the family-style living and dining arrangement furthers the sense of community. They consider Pennington to be their home because, in fact, it is where they reside.

The Pennington School has been committed to educational excellence for over 185 years. Long before most schools began to identify and provide services for bright students with learning differences, Pennington opened its Cervone Center for Learning in 1975. For bright students who learn differently, this small and selective program provides individualized academic support within the School’s innovative and engaging curriculum, preparing students for college with a 100% success rate for college admission.

Mission

The Pennington School is committed to developing individual excellence in all of its students.

The Pennington School's beliefs and attributes

Our Students fully engage in the Pennington experience. They seek personal excellence and aspire to lives of dedication, perseverance, resilience, integrity, and service.
Our Faculty members unreservedly commit themselves to our students and their optimal learning and understanding. Passionate about their professional discipline, they are dedicated to staying current with best practices and pursuing professional development. Our faculty members serve as mentors and role models, forming meaningful relationships with students both inside and outside the classroom.
Our Parents share a sense of responsibility for the well-being and development of our students and actively support the School’s mission.
Our Academic and Co-curricular Environment combines high expectations for excellence with the means to help each individual student achieve success in preparation for college study.
Our Preparation for college and life centers on our students’ developing sound habits of mind, effective communication skills, ethical decision-making, a global perspective, and the self-confidence to think and act both independently and collaboratively.
Our Community believes that optimal learning takes place through multiple experiences. Our culture reflects an abiding belief in each student’s desire and ability to learn. Our students develop a sense of responsibility for themselves, for others, and for the world in which they live. Our community is one of inclusion, open to diversity of opinions and people, united in our purpose, and dedicated to continuing the values of honor, virtue, and humility.

The Campus and Surrounding Area

Pennington’s 55-acre campus has been completely updated over the past seven years, including:

Yen Humanities Building (2017)
Meckler Library (renovated in 2018)
Makerspace (2018)
Four outdoor classrooms (2018)
Arts and Community Center (renovated 2018)
Indoor aquatic center (renovated 2021)
Beach volleyball court (2021
Outdoor student lounge (2022)
Fitness and conditioning center (renovated in 2023)
Snack bar (2023)
Dining Hall (upgrades in 2023)
All-weather turf athletic field (renovated 2023)
Tennis and pickleball courts (renovated 2023)
Security booth (2024)
New front porch for Old Main (2025)
Renovation of small gym and health and wellness facility (commencing summer 2025)

Pennington, New Jersey, is a charming small town whose center is a short walk from the School’s beautiful and leafy campus. Dotted with small shops, restaurants, and services, Pennington is immensely liveable – in fact, it was named one of the “best towns for families” in the state by New Jersey Family magazine. It is located about 15 minutes from Princeton, and just an hour from both New York City and Philadelphia. You can learn more about Pennington’s campus and enjoy a student-led tour of the School’s campus here.

Business Office and Financial Facts and Figures

In addition to the Chief Financial and Operations Officer, Pennington’s business office includes the following staff:

Director of Finance: oversees all aspects of the Business Office
Assistant to the Chief Financial Officer and to the Director of Human Resources: responsible for the administrative needs of the Chief Financial Officer and Director of Human Resources
Staff Accountant and Payroll Specialist: oversees bank reconciliations and payroll
Student Accounts Coordinator: oversees all revenue income streams and student accounts
Accounts Payable Specialist: oversees all payments processed by the School

The School’s annual budget is currently $29,000,000; 7.2% of the operating budget comes from the School’s annual fund, auxiliary enterprises, facility rentals, and other income. The value of Pennington’s endowment stands at approximately $50,000,000, with outstanding debt of approximately $12,500,000. The School raises about $1,500,000 each year from its annual fund, which consistently exceeds that which the School budgets each year for this item. Pennington is currently in the public phase of a $50,000,000 comprehensive capital campaign, which will support facilities renovations, the endowment, and the student experience.

As the above suggests, the School’s current financial drivers are robust and sustainable.

Enrollment continues to be strong with waitlists in several grades. The auxiliary revenue streams are strong, including a summer camp program that is highly sought after. Fundraising is growing, demonstrating the philanthropic commitment from the School’s many constituents. Rounding out this healthy financial picture is the highly committed and focused faculty, staff, leadership, and trustees.

The Opportunity to Become The Pennington School's Next Chief Financial and Operations Officer

The Pennington School has launched a search to identify its next Chief Financial and Operations Officer, who will assume their responsibilities no later than September 1, 2025. As described in greater detail below, the Chief Financial and Operations Officer is a key member of the leadership team of the School, partnering with the Head of School and Board of Trustees on strategic decisions that will shape the future of Pennington. Additionally, the CFOO oversees the School’s business office, the facilities and maintenance team, dining services, and its technology support department. This is a highly visible role at Pennington, and the new CFOO will become an integral part of the School community.

George Sanderson of Educators Collaborative, LLC, is assisting the School in this search. Based on a visit designed to learn about the School and interview many of its key stakeholders, George offers the descriptors below that represent community-wide sentiments about Pennington’s strengths, the challenges and opportunities lying ahead, and the skills and attributes desired in the next Chief Financial and Operations Officer.

STRENGTHS OF THE SCHOOL

Pennington is justifiably proud of its close community. Supported by over 50 teachers who live and raise their families on campus, the School is a place where there is a palpable sense of belonging.
Pennington has benefited from stability in its strong and supportive administrative team. Turnover is relatively low, and the impressive leadership of the School is reflected in Pennington’s strong enrollment, retention, and the extensive improvement in its facilities.
The Board of Trustees is experienced, stable, and knowledgeable. This is especially the case with the Finance and Buildings & Grounds Committees, which have a healthy working relationship with the School around financial and facilities matters.
The School has been proactive and professional in planning for the future. It has developed a detailed five-year projection of the maintenance of its buildings and grounds, as well as the capital expenditures anticipated. The School took the approach of including in its plans not only the ten-year structural renovations and additions, but also the anticipated facility upgrades and maintenance with its capital improvement plan.
The School’s financial standing has never been stronger. Interest in Pennington is robust, as evidenced by its full enrollment and declining admittance rate. The School’s budget is regularly in surplus, and fundraising is growing.
Parent satisfaction with Pennington’s culture and program is reflected in the low student and faculty attrition rate and the fact that most eighth-graders continue at Pennington through the Upper School.
As noted elsewhere in this document, Pennington has made a significant commitment in recent years to upgrading its campus and buildings. The School’s 55-acre campus is well-maintained, and the School’s facilities serve the program extremely well.

RESPONSIBILITIES, OPPORTUNITIES, AND CHALLENGES FOR THE NEXT CHIEF FINANCIAL AND OPERATIONS OFFICER

Partner with the Head of School
Working closely with the Head of School to continue to monitor and refine the strategic financial vision for the future of Pennington is a vital component of the responsibilities of the CFOO, who is responsible for managing and executing the strategy that is devised.

Risk Management Oversight
The CFOO collaborates with the School’s counsel and insurance agents regarding all legal and risk management matters and will establish policies to ensure risks are minimized. The School believes it would benefit from a more intentional risk management approach, and the CFOO will lead this effort in concert with all areas of the School.

Manage the Facilities and Maintenance Team as well as Future Construction Projects
The CFOO oversees the School’s experienced and well-regarded Operations team, which is responsible for routine maintenance, repair, and campus upkeep. When Pennington undertakes future construction projects, the CFOO will have a major role on the project management team that provides guidance and oversight of these important projects.

Lead Strategic Long-Term Financial Planning and the Budget Process
The CFOO leads the School’s annual budgeting process and has the opportunity to further refine this process in a manner that is transparent, consistent, and clear. In addition to constructing the annual budget, the CFOO will work closely with the Head of School and Board of Trustees to refine long-term financial scenarios for the School.

Continue to Monitor and Refine the Long-Term Maintenance and Replacement Budget
The CFOO will be responsible for the timing and budgeting of this important, thoughtfully planned work. In addition, the CFOO will be responsible for the maintenance and prioritization of the needs to update and enhance the small gym, the performing arts space, and the library. With an eye to the future, a review of the existing facilities will be conducted to provide student/faculty spaces for programming for current and future projected enrollment and potential programming.

Work Closely with the Board of Trustees
The CFOO presents regularly to the Board of Trustees on budget, investment, facilities, and long-range planning issues and will work closely with the Finance, Investment, Buildings & Grounds, and Audit Committees on strategic issues associated with the financial future of the School.

Lead the Business Office
The CFOO will lead and partner with an experienced team of finance professionals. In this role, the CFOO will help enhance the team’s skills and further develop a positive, collegial atmosphere in the office while emphasizing their important role in customer relations when interacting with families and faculty/staff.

Partner with the Director of Admission and Financial Aid

The CFOO works closely with the Director of Admission and Financial Aid, regularly discussing enrollment trends and their impact on financial aid allocation and the budget. An opportunity exists for these two offices to refine the re-enrollment process and, in doing so, devise a system that is responsive to parents and practical in terms of the deployment of resources.

Oversee Relationships with Lessees and Vendors
The Chief Financial and Operations Officer oversees and approves all rentals of School facilities and ensures that renters abide by the terms of rental agreements. In addition, the Chief Financial and Operations Officer will review and execute all contracts and maintain and perform a review of all School leases and vendor contracts.

SKILLS AND ATTRIBUTES OF THE NEXT CHIEF FINANCIAL AND OPERATIONS OFFICER

The Pennington School seeks an experienced finance and operations professional to step into the Chief Financial and Operations Officer role. The School takes great pride in nurturing an environment that is compassionate, collegial, joyful, highly collaborative, and innovative. An individual who brings experience, a strategic mindset, energy, integrity, and intellect will thrive in the Pennington community.

The ideal candidates will possess the following qualifications, skills, and attributes:

Bachelor’s degree from an accredited college or university; Master’s degree preferred
CPA and/or MBA preferred
At least ten years of proven managerial, problem-solving, and planning capabilities
Significant experience in responsibly managing financial, administrative, and day-to-day business operations; prior experience as Chief Financial Officer or equivalent is preferred
Passion for continuous process improvement, accuracy, and detail
Ability to interpret and explain complex issues and their financial/operations implications
Strong, hands-on experience in financial management, including analysis and reporting, budgeting, asset management, audit compliance, federal and state tax regulations, and reporting procedures
Demonstrated experience with long-range financial planning and overseeing the financial and operating particulars of capital projects and building renovations
Debt financing experience
Contract negotiation experience
Financial forecasting skills and experience
Advanced Excel skills
Ability to strategize and develop mechanisms to manage expenses
Excellent interpersonal, written, and oral communication skills with a demonstrated ability to communicate effectively and relate well to students, parents, staff, faculty, and others
Executive managerial experience in the nonprofit sector is a plus
Must be highly analytical and able to multitask and complete projects in a timely manner with minimal supervision
Excellent organizational skills; detail-oriented and organized
Ability to employ flexibility and creativity in the executive duties
Ability to balance and prioritize multiple requests; must be able to work under pressure
Must possess personal qualities that include diplomacy, tact, discretion, flexibility, resourcefulness, initiative, dependability, friendliness, emotional maturity, punctuality, and professionalism
Professional demeanor and attitude
Collaborative leadership style: must be a team player with a positive attitude, exemplifying Pennington’s core values
Alignment with the School’s Mission is essential

Preferred Qualifications:

Understanding and knowledge of environmentally-friendly business practices (a proven track record of this is a plus)
Facilities management/construction management experience
Knowledge of IT network/data security
Nonprofit/fund accounting knowledge and experience
Knowledge of Veracross software
Working knowledge of and experience with independent school operations
Experience with project management and oversight of building maintenance strongly preferred
Experience with financial and operations management in a boarding school environment is a plus

How to Apply

Applications will be reviewed when they are received.

Candidates interested in this position are asked to submit the following materials in a single merged document, in the order listed: 

EC candidate summary sheet (Contact George Sanderson for this document) 
Letter of interest, addressed to the Head of School 
Current résumé

A list of five or more references with contact information (including phone numbers and email addresses) 
Disclosure form (contact George Sanderson for this document)

Please address inquiries to: 

George Sanderson, Partner, Educators Collaborative

gsanderson@educatorscollaborative.com

Listing Date: May 20, 2025

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