New Destiny’s mission is to end the cycle of domestic violence and homelessness for low-income families and individuals by developing and connecting them to safe, permanent, affordable housing and services. To achieve its mission, New Destiny builds and manages housing with on-site services; offers innovative programs that assist survivors in finding and retaining affordable housing; and works to expand access to permanent housing resources for survivors. New Destiny is the largest provider of supportive housing for domestic violence survivors in New York and is a leading advocate in the effort to obtain the resources needed to end family homelessness in New York City.
New Destiny is seeking a smart, experienced, and energetic Controller to join the Finance and Administration Department and work closely with the Real Estate Department and executive team in planning for the evolving needs, long-term growth and sustainability of New Destiny Housing Corporation and its affiliated entities. The Controller will be responsible for all Low-Income Housing Tax Credit (LIHTC) financial activities, including financial management and reporting, budgeting, cash management, general accounting, billing, financial strategic planning, and external sources of funding for the entities management. The position reports directly to the Chief Financial Officer, works collaboratively with the finance and real estate teams and has the following responsibilities.
Duties and Responsibilities
LIHTC projects during pre-development or under development:
- Liaise with New Destiny’s Housing Development and Asset Management staff on financial aspects offuture projects, such as acquisition loan proposals, syndicator letters of intent and partnershipdocuments.
- Oversee, along with New Destiny’s Housing Development and Asset Management staff, proper use ofand accounting for various sources of development funds received, both government and non-government.
- Work with the Housing team to review monthly loan requisitions during construction.
- Review coding of invoices and cash receipts.
- Analyze inflows to and outflows from development/construction cash accounts and insure propercloseout of accounts is achieved after the building is completed and rented up.
For operating LIHTC projects:
- Review and assist with annual budgets for entities in conjunction with the Property Management staff.
- Review and analyze monthly entities’ financial statements prepared inhouse or by PropertyManagement company, comparing actuals to budgets and providing regular reports to the CFO, Sr.Director of Real Estate and Executive Director.
- Prepare entities quarterly reports to Investor partners and then present to the ED, CFO and Sr. Directorof Real Estate.
- Prepare other compliance filings as required by the project stakeholders.
- Responsible for preparation, analysis and reconciliation of entities year-end audit packages and postingof any necessary adjusting entries to ensure year-end property financial statements provided toexternal auditors are compliant with US GAAP.
- Assist CFO with preparation of the consolidated schedules.
- Maintain general ledger system of the LIHTC entities in Fund EZ and other related software.
- As New Destiny grows, provide supervision to newly created positions in the finance department.
- On a quarterly basis reconcile intercompany accounts to ensure that due to/from account balancesbetween entities offset each other.
- Work with independent CPA firm to ensure that IRS/NYS/NYC required filings are made.
- Ensure Forms 1099 are filed each calendar year for partnerships’ vendors.
Other Finance & Accounting Responsibilities:
- Establish and maintain a system of checklists and electronic files to facilitate monitoring of tasks andcoordination with other New Destiny staff.
- Provide financial information as requested by the CFO and other stakeholders, including ad hoc reportson grant funding received by New Destiny for its programs.
- Assist with other Finance/Accounting tasks including grants invoicing, Payroll, Expense allocations andCash flow preparation.
- Pay critical attention to detail and In-depth understanding of Generally Accepted Accounting Principles(GAAP).
- Perform other tasks as assigned by the CFO.
- Bachelor’s or master’s degree in finance, accounting or related degree required (CPA preferred).
- Minimum 5 years progressive accounting experience.
- Extensive experience in low-income housing tax credit financial management (strongly preferred).
- Solid understanding of US GAAP; demonstrated experience in all aspects of accounting mentioned inabove job description.
- Knowledgeable in preparation of budgets, management reports and financial modeling and projectanalysis.
- Government and non-government grants accounting experience preferred.
- Ability to manage multiple tasks and adapt to a growing organization.
- Strict attention to detail and organizational skills.
- Embraces and exemplifies the values of Diversity, Equity, and Inclusion.
- A multi-tasker with strong verbal and written communication skills.
- Experience working with nonprofits strongly preferred.
- Extensive experience with fund accounting software, such as Fund EZ or a similar product.
- Experience with general ledger functions and the month-end/year-end close process.
- Able to operate well under pressure independently and to meet deadlines.
- Ability to build and always maintain open and effective line of communication with supervisor.
- Willingness to secure NYS Notary Public if needed.
$100K – $110K per year with competitive benefits and a hybrid work schedule. This is a full-time position with a benefits package including medical, dental, vision, short disability, PTO paid holidays and 401(k). EOE.
How to Apply
Please submit your cover letter and resume to email@example.com, placing “Controller” in the Subject Line of your e-mail.
New Destiny is an equal opportunity employer and committed to diversity. Survivors of domestic violence and people who have experienced housing instability are encouraged to apply.