Senior Project Accountant – Affordable Real Estate

Company: National Housing Trust

Location: Washington, DC

Job Function: Accounting


Background

The National Housing Trust is a strong national nonprofit engaged in affordable housing advocacy, lending, real estate development and energy solutions. Our mission is to preserve and improve affordable multifamily homes to support quality, healthy neighborhoods with a range of housing options so that families of all income levels have an opportunity to thrive.

NHT is an award-winning nonprofit with a focused agenda. The ideal applicant thrives in a fast-paced environment, working with dedicated and entrepreneurial colleagues. NHT has a staff of 40+ across its four business lines – public policy, lending (NHT Community Development Fund and Institute for Community Economics), real estate development (NHT Communities) and energy solutions (NHT Renewable).

The Senior Project Accountant position is located within the Finance Office group under the direction of the Chief Financial Officer which provides accounting and financial management services to the real estate business line.

Summary

The Senior Project Accountant reports to the Controller. The incumbent is responsible for updating and maintaining accounting records for construction and real estate operating properties and evaluating for reasonableness the information presented in project financial statements, and other accompanying schedules to the financial statements for any reporting entities assigned. The position has no supervisory duties. The position has contact with and communicates with vendors, outside contractors and property management companies, project lenders, NHT staff and senior NHT officers.

Responsibilities

  • Performs real estate project accounting with focus on affordable housing real estate projects in predevelopment or development. Performs duties related to tracking and accounting for General Partner (GP) and Limited Partner (LP) interests in partnerships, accounting for fees earned, funds released, and reporting on project financial implementation. Monitoring intercompany accounting issues related to loans receivable or payable and related reconciliations is also required.
  • Accounting and accounting systems: Organization Accounting System (Sage Intacct) operations data entry and analysis, performs analysis on fund sources and uses, records, and reconciles construction draw and construction financing transactions including acquisition and disposition, records loan fund interest accruals and equity investments, and bank deposits. Performs bank reconciliations if needed, assists with the month end closing of the accounting records and project financial statement preparation, assists with budgeting and accounts receivable.
  • Maintains the general ledger and trial balance for real estate development projects. Records monthly trustee activity for projects that are bond financed; reconciles bank and bond accounts; reconciles draws to actual costs and the construction budget; tracks projected budgets with actual costs and provide auditor with project Construction in Progress CIP)/fixed assets updates; develops and updates depreciation, amortization, and asset retirement obligation schedule; creates financial reports for investors and fund sources.
  • Perform research on historical accounting transactions as required.
  • Performs audit support duties: Maintains general ledger and trial balance and executes period-end closing actions that prepare accounting packages for auditor review in collaboration with property level accounting staff. Regular calls and communication with vendors, contractors, and banks to obtain adequate information as source documentation for audit records. Provides supporting documentation for financial audits and other financial reviews as needed.

Requirements

Education: Four-year accounting degree required, CPA or CMA preferred. Experience may partially substitute for education for accountants who are exceptional in other areas.

Experience:

  • 3 to 7 years of related accounting experience
  • Month-end close
  • Construction accounting experience
  • Financial audit support experience
  • Experience with loans and partnership legal documentation
  • General Ledger and trial balance experience
  • Bank Reconciliation
  • Affordable Housing Real Estate

Compensation and Benefits

Salary and benefits are competitive and commensurate with experience.  The minimum, median, and maximum salary range for this position is $65,405, $87,447, and $109,283 respectively.

How to Apply

To apply, go to: https://nhtinc.bamboohr.com/jobs/view.php?id=35&source=aWQ9NDA%3D. Please no calls or emails.

NHT is committed to providing equal employment opportunity in all our employment programs and decisions, including, but not limited to recruitment and hiring. Equal employment opportunity is provided to all employees and applicants for employment without regard to race, color, religion, creed, sex, national origin or ancestry, age, marital status, personal appearance, sexual orientation, gender identity or expression, family responsibilities, political affiliation, disability, matriculation, genetic information, covered veteran’s status or any other protected characteristic under federal, state, or local law. BIPOC applicants, women, and persons with disabilities are especially encouraged to apply.

NHT requires that all employees maintain ‘Up to Date’ COVID-19 vaccination status, following the CDC guidelines, unless they are eligible for an accommodation due to a disability or sincerely held religious belief or practice that prevents them from receiving the vaccine.