Foundation Accountant

Compensation:

$55,495 dependent upon education and experience

Compensation Type:

Exempt

Employment Type:

Regular

Grade:

E04

Position Summary

This position supports fiscal management of the SJCF $33 million fund balance. The Foundation accountant serves as financial accountant, fund accountant, gift and endowment accountant, and database manager. Responsible for all aspects of accounting for the foundation, including data entry, financial management, oversite, compliance, and reporting of each fund, restricted monies held by the foundation. Supports gift and endowment compliance for the foundation by ensuring gift and endowment funds are expended in accordance with donor intent and that administrative obligations of gift agreement are met.

MAJOR DUTIES

• Executes work of accounting in the areas of data entry, reconciliations of bank, credit card, and investment accounts, accounts payable, and accounts receivable.

• Prepares monthly and/or quarterly financial statements, including balance sheets, statements of revenues and expenditures, budget comparison reports, trial balances, and general ledger balances, along with other internal reports.

• Prepares annual operating budgets, including analyzing current year data. Perform complex budgeting allocation for each individual endowment, allotting earnings dependent on Foundation policy.

• Prepare scholarship budget for both annual and endowed scholarships. Collaborate routinely with financial aid, provide scholarship budgets, monitor actual expenses to budget, extract data for reports, and design and implement processes to improve the efficiency and accuracy of the flow of data.

• Ensure that all funds held by the Foundation are accounted for in the proper manner according to IRS regulations, GASB and other generally accepted accounting principles, by accurately posting revenues and expenses on a regular basis; preparing the “amount available to grant (spend)” on an annual basis, in accordance with the Foundation’s Spending Policy.

• Prepares budget, and then spending plans for each program support fund. Disburses to appropriate department, upon return of plan, verify there are no issues identified related to use and administration of gift and endowment accounts. Also identifies and reports on areas in which gift and endowment funds are under-utilized. Works closely with executive director and/or plan originators to utilize funding use.

• Prepares supporting subsidiary schedules, including revenue/expense summaries, temporarily restricted fund schedules, and endowment fund schedules.

• Administers and posts functions related to cash receipts, cash disbursements, and general ledger activity and processing for all bank accounts of the Foundation, including Possible Dream payment processing.

• Prepares and posts appropriate general journal entries for monthly activity.

• Attends San Juan College Foundation Board and Asset Management meetings. Compiles, prepares presentation, and presents quarterly financial statements and reports for the Foundation Board and Foundation asset management team; Performs analytical and variance analysis of actual and budgeted financial statements.

• Presents year-end financials and budget to board. Once approved, provides all financial information to and works with external auditors in the preparation of the annual audit report to fulfill all documentation requirements. Prepares footnotes, as needed. Review 990 for accuracy and sign representation letter from the auditor.

• Ensures appropriate gift entry and management within donor database and accounting software. Generates acknowledgement and reminder letters. Maintains donor file within donor database. verify that donor directive aligns with foundation mission. Brings any concerns to Executive Director.

• Maintains individual temporary restricted and endowment records. Generate appropriate reports; Maintains a variety of complex ledgers. Keep separate records for funds allotted to each fund/account and records disbursements, transfers and purchases made against each account (384 accounts and growing).

• Manages and performs the monthly and annual closeout processes, which include creating and entering adjusting entries, reconciliation of our 19 bank, credit card, and investment accounts, and a thorough reconciliation of endowment and temporarily restricted fund balances from system against pertinent supporting documentation.

• Perform complex earnings allocations to each of our fund types, then allocating individually to our several hundred endowed and temporarily restricted funds.

• Analyzes the expenses in college accounts with foundation revenue budgets. Monitors and reviews endowment and gift expense reimbursement requests to ensure compliance with donor directive and gift agreements, as well as fund availability. Meets with plan originators and business office frequently to address issues that arise.

• Work in collaboration with Center for Workforce Development and Grant Accounting department to monitor grants received by the College and held by the Foundation.

• Provide supporting documentation to College Controller, as requested.
• Review and process SJC billing to the foundation. Bring items of concern to the correct associate in business office. This includes reviewing and entering each individual payroll record, each program expense, and scholarship billing by corresponding program/endowment fund.

• Analyzes cash account balances and investment account asset allocations for conformity with Foundation investment policies; advises the Executive Director and Asset Management Committee of any significant deviations from state policy or changes in performance or rates of return.

• Advises the Executive Director of the Foundation Board of any actual or perceived irregularity, deviation from policy, or impropriety regarding financial transactions conducted on behalf of the Foundation. Provide expertise to maintain the integrity of accounting records and financial information through the implementation of generally accepted accounting principles, GASB, and best practices.

• Produces donor informational reports, annual giving reports, and other financial reports as needed.

• Preparation and filing of 1096/1099 tax forms and state filings to ensure the SJCF remains in good standing.

• Review 1099’s, k-1 reports, and other tax documentation for accuracy from various outside trusts and royalty payments received at the foundation.

• Review MOU's, gift agreements, and contracts to verify they follow foundation policy. Bring concerns directly to Executive Director.

• Monitor all accounts with online presence daily for fraud or irregularities. Report fraud or other concerns to Executive Director as they arise.

• Serve as the principal Foundation contact for financially related inquiries from fund holders, donors, grantees, outside audit firms, vendors, investment managers, trust officers, board members and any requests regarding the public disclosure act for 990’s and Audited Financial Statements.

• Effectively communicate with Executive Director regarding use of funds, amount of funding available, use of funds.

KNOWLEDGE REQUIRED BY THE POSITION

• Knowledge of generally accepted accounting principles (GAAP) and Governmental Accounting Standards Board (GASB) guidelines.

• Knowledge of fund accounting and endowment accounting principles.

• Knowledge of budget development and management principles.

• Knowledge of computers and job-related software programs.

• Knowledge of auditing principles and practices.

• Knowledge or investment account management principles.

• Knowledge of college policies and procedures.

• Skill in organization and project management.

• Skill in decision making and problem solving.

• Skill in interpersonal relations and in dealing with the public.

• Skill in the completion of accurate and complete financial reports.

• Skill in oral and written communication.

SUPERVISORY CONTROLS

The Executive Director assigns work in terms of goals and objectives. The supervisor reviews work through conferences, meetings and observation of departmental activities.

GUIDELINES

Guidelines include GAAP, GASB standards, IRS regulations, American Institute of Certified Public Accountants guidelines, New Mexico State Attorney General’s Office annual reporting guidelines, Council for the Advancement and Support of Education management reporting standards, and college policies and procedures. These guidelines require judgment, selection and interpretation in application.

COMPLEXITY/SCOPE OF WORK

• The work consists of varied accounting duties. Strict regulations and the need for accuracy contribute to the complexity of the position.

• The purpose of this position is to manage the Foundation’s accounting functions. Success in this position contributes to the accuracy of all financial transactions and records and ensures compliance with state, federal, and college requirements.

CONTACTS

• Contacts are typically with co-workers, other college employees, auditors, investment consultants, bankers, donors, and members of the general public.

• Contacts are typically to provide services, to give or exchange information, to resolve problems, or to justify, defend or negotiate matters.

PHYSICAL DEMANDS/ WORK ENVIRONMENT

• The work is typically performed while sitting at a desk or table or while intermittently sitting, standing or stooping.

• The work is typically performed in an office.

SUPERVISORY AND MANAGEMENT RESPONSIBILITY

None.

MINIMUM QUALIFICATIONS

• Knowledge of investment accounting, endowment accounting, fund accounting, higher education accounting and/or non-profit accounting with sufficient experience to understand the basic principles relevant to the major duties of the position, usually associated with having a baccalaureate degree or having held a similar position for a minimum of 5 years.

• Ability to work under pressure, organize, and schedule workload effectively, meet deadlines, and manage multiple tasks simultaneously with a high degree of accuracy and efficiency.

The following REQUIRED documents must be submitted with the application in order to be considered. Upload all required documents under the Application Questions 2 section for "Additional Documents Required".

• Cover Letter (Required)
• Curriculum Vitae (CV) or Resume (Required)
• List of 3 Supervisor References. (Required)
• Unofficial Transcripts with qualifying degree conferred. (Optional)
• Letters of Recommendation (Optional)

Job Type: Full-time

Pay: From $55,495.00 per year

Benefits:

• 403(b)
• Dental insurance
• Disability insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• On-site gym
• Paid sick time
• Paid time off
• Retirement plan
• Vision insurance

Schedule:

• Monday to Friday

Experience:

• GAAP: 1 year (Preferred)

License/Certification:

• CPA (Preferred)

Ability to Commute:

• Farmington, NM 87402 (Required)

Ability to Relocate:

• Farmington, NM 87402: Relocate before starting work (Required)

Work Location: In person

Salary : $55,495