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Community Investment Trust (CIT) Operations Manager
equity2 LLC is an impact investment firm committed to deploying capital in inclusive and equitable ways. Formed by AltCap and Community Capital Fund in 2019, equity2 offers investment products that generate returns for investors as well as the communities where we invest.
ABOUT THE KANSAS CITY REGION COMMUNITY INVESTMENT TRUST (CIT)
The Community Investment Trust (CIT) is an innovative investment product designed to meet the needs of first-time, lower-income community investors through ownership of commercial-retail real estate. The CIT offers: low dollar ($10-$100) monthly investments for investors in zip codes proximate to the property, with guaranteed liquidity and protection from loss. Community investors participate in a financial education course offered in multiple languages covering budgeting, goal setting, and the risk and return profiles of various investments. They are then able to invest, earning short and long-term returns on their investment through an annual dividend and share price change.
The CIT creates impact on three mutually reinforcing levels:
1.At the individual and family level through building family net worth over time.
2.At the property/ tenant level by building support for businesses through neighborhood owners.
3.At the community level by making neighborhoods safer, more equitable and economically strong with engaged, voting citizens.
Equity is at the core of the CIT model – in governance and community ownership. It offers a way for residents in gentrifying neighborhoods to participate in the broader economic development happening around them. This model has been piloted in Portland, Oregon and is now being implemented in Kansas City.
GENERAL POSITION SUMMARY:
The CIT Operations Manager will be responsible for management of CIT-owned properties in the Kansas City region. This person will help identify suitable investment properties, evaluate and manage third-party service providers, support the board of directors of the C-Corporations that are owned by the community investors, and manage all project operations. This type of project requires an entrepreneurial capacity to learn and adjust quickly to new challenges, and to assist in framing the CIT to community members, leaders, media and funders.
This person will collaborate with equity2 colleagues to ensure financial viability and performance of the CIT, legal adherence with all applicable securities law, and financial transparency and accountability.
The candidate will have a commitment to equitable economic development and be someone who sees investment as a means to create change in underserved communities (not as an end in itself). We are looking for a highly motivated doer who is interested in creating community wealth and shared prosperity. We are seeking someone who is excited to be part of a team and a movement in Kansas City.
ESSENTIAL JOB FUNCTIONS:
- Monitor tenant management with contracted commercial real estate firms.
- Ensure the systems for internal control, compliance, and finance reporting function in accordance with investment regulations.
- Manage program budgets and assist with funder and investor reporting.
- Maintain accountability to CIT investors while actively engaging beneficiary communities as equal partners in the design, monitoring and evaluation of the CIT project.
- Develop and maintain community relationships with partner organizations (churches, neighborhood groups and associations, schools and housing agencies) to assure the number, diversity and dollar amounts of targeted neighborhood investors are met.
- Assist in building a community investor network.
- Collaborate with other program staff as needed to ensure program success, exceptional monitoring and evaluation of project impacts, and continual improvement.
- Contribute to the strategy shifts, evolution, replication, growth and success of the CIT.
KNOWLEDGE AND EXPERIENCE:
- Experience with property development and asset management, community engagement, economic development and commercial real estate finance is necessary.
- Bachelor’s Degree in Business, Finance, Real Estate or related field or possess a sufficient level of expertise gained through lived experience and a personal commitment to equitable economic development.
- 2+ years of relevant professional experience, preferably in real estate, economic development finance or financial fields.
- A commitment to inclusive economic development and growth.
- Bi-lingual in Spanish and English preferred.
- Adventurous eater.
The CIT Operation Manager will work under the supervision of equity2’s Impact Investment Coordinator. This is a full-time position offering a comprehensive compensation package including medical benefits, paid leave, 401(k) match and more.
Please email 1) a resume or CV, 2) a one-page cover letter, and 3) three references to email@example.com. No calls please. equity2 is an Equal Opportunity Employer.
Job Type: Full Time,Part Time,Temporary