This position is responsible for performing the Foundation’s accounting duties including various accounting journals, general ledger, general payables, grants payable, monthly reporting of market valuations for investment pools, preparation of donor and accounting reports, maintenance of system files and documentation, support preparation of budget and import budget to FIMS, annual audit and all tax filings.
- Verify and post gifts; deposit checks in bank account, review investment account activity.
- Sell any stock gifts and provide documentation to donor services for gift recording.
- Monitor cash flow requirements to provide requisite cash for ongoing operation and rebalance investment portfolios as needed
- Respond to any calls relating to the Student Loans
- Verify and post weekly donor advised grant payments as well as any grant/scholarship department grants.
- Process accounts payable on a weekly basis.
- Process asset rebalancing on a weekly basis and transfer money between the checking and investment portfolios as needed.
- Record bi-weekly payroll and submit 401(k) employee and employer contributions.
- Prepare and post journal entries, recurring monthly journal entries (including cash calls, depreciation, and cash receipts other than gifts).
- Assess and collect administrative fees on funds on a monthly basis.
- Reconcile bank and investment accounts monthly, maintain monthly investment pool reconciliations.
- Prepare the monthly close (record/reconcile investment activity, calculate/post admin fees, prepare financial statements)
- Financial reporting to Managers, Audit & Finance Committee and Trustees
- Process quarterly annuity distributions
- Process and review quarterly fund statements
- Prepare reports for Investment Committee meeting
- Upload new loans to University Accounting Service (UAS)
- Prepare all 1099’s (MISC for vendors; R for annuitants;)
- Calculate annual spending policy amounts for funds using the distribution policy (including Bank of America funds)
- Calculate annuity distributions for new year (calendar)
- Prepare Trust returns for Unitrusts
- Prepare for the annual audit; tax filings
- Monitor tax developments and FASB changes pertinent to community foundations and take appropriate actions or make recommendations as needed.
- Write & update internal accounting procedures
- Complete all surveys
- Respond to all audit confirmation requests for Agency Funds
- Establish and code all new funds; change coding on existing funds as needed
- Assist grants department with reviewing financial statements for potential grantees
- Maintain and analyze loan balances
Maintain confidentiality of Community Foundation affairs in communications, both written and oral
Other duties as required or assigned
Occasional attendance at Foundation events outside work hours
Education: Bachelor’s Degree required; MBA or CPA preferred
Experience: Minimum of 5 years relevant experience. Knowledge of and experience in nonprofit accounting, especially fund accounting is critical.
Skills: In-depth understanding of GAAP accounting principles, financial record-keeping, and nonprofit tax filings necessary. Fully proficient in use of computerized accounting systems, Microsoft Excel and relational databases. Ability to effectively communicate within and outside the organization. Strong commitment to the local community and demonstrated cultural competency.
Physical Demands: Lifting/Carrying at least 20 lbs., standing, bending, walking, pushing/pulling, communicating, seeing, hearing, sitting, crouching, reaching, balancing.