For over 40 years Bellwether Housing has been Seattle's largest, and most respected, non-profit organization, providing affordable housing for low-income individuals and families. Bellwether Housing offers an uplifting work environment with a diverse group of talented professionals who are committed to our mission and values of creativity, collaboration, ambition, warm-heartedness, and professionalism.
The Project Accountant II is tasked with the accounting of all Bellwether construction and development activities. This role is key during our growth phase of adding 2500 new units of affordable housing to the organization. Reporting to the Controller, this role will account for all construction in process, track and monitor construction draws, and work collaboratively with our Real Estate Development department. The desirable candidate will have development and construction accounting experience with financial packages that include public and private funding and tax credit investors.
Bellwether Housing is a 501 (C) 3 non-profit organization that develops, acquires, and manages over 2100 units of affordable Housing.
• Set up new projects in the accounting system.
• Responsible for the month end close as it relates to construction and development accounting for assigned portfolios.
• Maintain accurate accounting of construction and development activity:
o Review all incoming invoices for proper coding and budget.
o Identify and investigate budget variances and cost-over-runs.
o Maintain a system for tracking construction draws.
o Maintain detailed accounting and tracking of line of credit use.
o Maintain, track and ensure all lien waivers are cleared prior to project close.
o Work closely with Real Estate Development department for key reconciliating items.
• Prepare and maintain a fixed asset roll-forward for construction-in-process/development activity.
• Support the Real Estate Development department and Controller with monthly project reports and projection of cash needs.
• Work Collaboratively with the Real-Estate Development department for project close with Title/escrow. Including:
o Identify funds to bring to close.
o Prepare journal entries to properly reflect closing costs and account for ownership entity transition.
o Assist in the transition of construction loans to permanent financing. Record and set up new loans in loan amortization table.
o Prepare proper accounting for project completion of new construction or rehabilitated fixed asset into operations.
• Ensure all developer fee agreements and sponsor loans have been identified and recorded in the general ledger.
• Prepare supporting workpapers to support the preparation of Cost Certification Reports (where applicable). Work with external auditors to finalize Cost Certification Reports.
• Assist with the preparation of State Housing Tax Credit form 8609.
• Ensure timely and accurate billing of 3rd party consulting fees.
• Monitor the collection of client billings and construction management fees.
• Assists with the annual budgeting process for assigned portfolios and prospective development projects.
• Participates in the preparation of the annual audits:
o Tax Credit Audits
o Non-profit (Consolidated) audit
• Other duties as assigned.
• Bachelor’s Degree in Accounting, Finance, and/or related field.
• 5+ years of progressive accounting experience and financial statement preparation.
• Experience in Real Estate and Project Accounting
• Demonstrated experience developing budgets, forecasts, and complex financial analyses.
• Experience with automated accounting systems and budgeting
• Experience with interpretation and application of Generally Accounting Principles with an emphasis in Real-Estate/construction accounting
• Proficient in MS Office Suite, including the ability to develop advanced spreadsheets, manage databases, and produce meaningful charts and graphs within Excel.
• Proven ability to organize and prioritize multiple projects.
• Excellent independent analytical, problem solving, and decision-making skills.
• Effective verbal and written communication and relationship building skills.
• Experience with Yardi Voyager ERP system
• Experience with Tax Credit Partnerships
• Project management experience
• Experience working with a diverse group.
Other Position Requirements:
• A personal vehicle is not a requirement of this position. However, if using a personal or company-owned vehicle in the performance of job duties associated with this position, incumbent must possess and maintain a valid Washington State Driver’s License, the appropriate amount of automobile insurance, and a safe driving record.
• Candidates selected for this position must pass a criminal history background check prior to employment with Bellwether Housing.
Compensation: $67,000 to $75,500 per year DOE, benefits
Benefits: Bellwether Housing provides 24 days of PTO and 11 paid holidays in the first year of employment for all employees working over 20 hours per week. We have a 403(b)-retirement plan with immediate eligibility for employee contributions and employer matching after 15 months of service; three medical plans to choose from, one with an employer funded HSA; dental; vision; flexible spending accounts, disability (short- and long-term); employer paid life insurance; and commuter benefits.
Bellwether Housing is an equal opportunity employer. We value diversity, including the diversity of thought and experience. We are committed to building an open and inclusive culture for all employees. We consider all applicants without regard to education, race, ethnicity, national origin, religion, gender, gender identity, sexual orientation, age, skills, and level of experience. All interested candidates are encouraged to apply.