Music Center Foundation

Founded in 1973, the Music Center Foundation (“MCF”) is a $300 million endowment foundation whose mission is building and growing the endowments of The Music Center (including the programs The Music Center operates through TMC Arts and The Blue Ribbon) and the four independent performing arts organizations that reside on The Music Center campus – the Los Angeles Opera, Center Theatre Group, the Los Angeles Philharmonic, and the Los Angeles Master Chorale. (“Resident Companies”) Focused on long-term growth, the MCF’s primary business is building endowment through asset management and, in partnership with the Resident Companies and The Music Center, securing new endowment funds utilizing planned giving. The strength of the MCF lies in the financial expertise, results-oriented approach, and long-term focus of the MCF’s Board of Directors (“Board”), which includes representatives from The Music Center and each of the Resident Companies.

The Role

The President and Chief Executive Officer of the MCF has an opportunity to leverage their fundraising expertise, financial acumen, passion for performing arts, and overall creativity to guide the MCF into its next chapter of growth and development. The President and CEO reports to the Board and works collaboratively with the leadership of The Music Center and the Resident Companies. Leading the MCF involves operating within a dynamic and entrepreneurial work environment, where adaptability and innovation are key. This role encompasses the detailed accounting and financial oversight of the endowment and quasi-endowment funds that the MCF manages for The Music Center and its Resident Companies.

The President and CEO of the Music Center Foundation will:

• Work with the advancement departments at The Music Center and each of the Resident Companies to support collective efforts in cultivating prospects for endowment gifts. This includes managing the relationship with these departments, including providing education, collaboration and encouragement, particularly around endowment fundraising and planned giving.
• Meet with prospective endowment donors and their advisors, in collaboration with The Music Center and the benefited Resident Company as applicable, to assist with structuring gifts to the MCF.
• Manage the relationships with The Music Center and the Resident Companies. This includes (i) working with the respective finance departments of The Music Center and each of the Resident Companies to provide them with information regarding the MCF’s investment management, distributions, and current financial activities, and (ii) making periodic presentations to the respective finance committees and boards of directors of The Music Center and each of the Resident Companies as applicable.
• Oversee the annual distributions from the various funds managed by the MCF to the Resident Companies and TMC, as applicable.
• Work with the donor advisors when estate gift pledges mature, primarily after the applicable donor’s death, to collect the gifts. This often includes communication with executors or successor trustees of the applicable donor’s estate, as well as the attorneys.
• Review capital calls and distributions from non-marketable investments.
• Work with the MCF’s external investment advisory firm approved by the Board (“Investment Advisor”) and the MCF’s Chief Financial Officer on implementation of directives from the MCF’s investment committee (which committee includes representatives from The Music Center and each of the Resident Companies) (“Investment Committee”), and optimization of the portfolio management. Since the MCF’s President and CEO is also a member of the Investment Committee, the CEO must always be current with information about the MCF’s managers, portfolio (including asset allocations), and portfolio performance.
• Work with the outside accounting firm approved by the Board to complete the annual audit.
• Manage all employees of the MCF, which currently consists of the MCF’s Chief Financial Officer and the MCF’s Manager of Operations and Communications, both of whom are full-time employees.

Candidate Profile

The MCF seeks a leader with expertise in planned giving, endowment fundraising, and financial acumen, coupled with excellent relationship building skills, convening power, gravitas, and a clear passion for the performing arts. The candidate must bring expertise in complex planned giving vehicles and possess the emotional intelligence, humility, and strategic judgment to engage and maintain relationships with a diverse group of stakeholders on campus, including the respective Chief Executive Officer, Chief Financial Officer, Chief Advancement Officer, and Boards of Directors of each of The Music Center and the Resident Companies.

A solid understanding of nonprofit organizations, gained through executive leadership or board experience, is crucial for guiding strategic planning and decision-making for the MCF. The ideal candidate will have a connection to arts and culture organizations, allowing this leader to connect deeply with the MCF’s mission, goals, and community. The candidate will enjoy serving as an external ambassador for the MCF who can promote the MCF’s mission with confidence and clarity.

Additionally, a working familiarity in investment management and financial planning will be useful for developing planned giving strategies, partnering closely with the Investment Committee and the Investment Advisor, and yielding results for The Music Center and its Resident Companies.

The ideal candidate for the President and CEO position at the Music Center Foundation will embody several key competencies essential for leading the organization effectively:

• Inspirational and Galvanizing Leadership: The candidate will possess the ability to lead through influence and motivate others around a shared vision. This involves inspiring action and commitment through effective communication and leading by example, creating a positive and dedicated environment consistent with the MCF’s mission.
• Setting Strategy and Business Acumen: The ideal candidate will be able to craft and implement strategic initiatives that drive MCF’s long-term success. This involves analyzing market trends, understanding the competitive landscape, and making informed decisions that position the MCF for growth.
• Relationship Building and Communication Skills: Effective relationship-building and communication are critical for engaging stakeholders, including donors, partners, and community members. The candidate will be skilled at fostering collaboration and trust, clearly conveying the MCF’s mission and goals to various audiences.
• Financial Acumen: The best candidates will have a strong grasp of financial management, overseeing the MCF’s financial health by budgeting, planning, and monitoring performance to use resources wisely and achieve strategic goals.
• Management and Operational Excellence, with a Growth Orientation: The candidate will be able to improve how the MCF operates by making processes and systems more efficient and effective. The ideal candidate will bring experience managing teams, set performance standards, implement digital optimization, and foster a culture of continuous development.
• Integrity and Accountability: The candidate must be someone of the highest ethical standards, ensuring transparency in decisions and accountability for results. This commitment will ensure that the MCF operates with a high level of trust and credibility across all stakeholders and partners.

Compensation

The anticipated base salary for this position is approximately $350,000. The salary of the finalist selected for this role will be determined based on various factors, including but not limited to scope of role, level of experience, education, specialty, accomplishments, site/location, internal equity, budget, and subject to Fair Market Value evaluation. The base compensation range listed is a good faith determination of potential base compensation at the time of this job advertisement and may be modified in the future.

Contact

Russell Reynolds Associates has been exclusively engaged to lead this search. Given the need for confidentiality throughout this process, prospective candidates are invited to reach out directly to our search consultants at MusicCenterFoundation@russellreynolds.com with a resume and brief explanation of interest. We welcome nominations and expressions of interest to the Russell Reynolds team. All inquiries and discussions will be considered strictly confidential.

• Michael Singleton - Russell Reynolds Associates 277 Park Ave Suite 3800 New York, NY 10172
• Jeffrey Warren - Russell Reynolds Associates 10250 Constellation Blvd Suite 1270 Los Angeles, CA, 90067-6277
• Claire Godwin - Russell Reynolds Associates 1700 New York Avenue, NW Washington, DC 20006-5208
• Jennifer Zelmer - Russell Reynolds Associates 10250 Constellation Blvd Suite 1270 Los Angeles, CA, 90067-627