About the Organization: Preservation of affordable Housing (POAH) is a national nonprofit organization whose mission is to preserve and steward affordable rental housing to provide stability, hope and economic security to low- and moderate-income individuals, seniors and families. POAH owns and operates more than 10,000 affordable homes at more than 100 properties in 11 states and the District of Columbia, and is based in Boston with offices in Chicago and Washington, DC.
POAH’s reach is national in scope, and its pursuit of the preservation mission is empowered by a focus on the business bottom line. Its strong reputation is the result of a demonstrated ability to craft complex financial transactions, tackle tough multi-family projects, and close deals that preserve the affordability of ‘at risk’ properties. The organization and its leaders are at the forefront of policy and legislative discussions around housing preservation, affordable housing finance and regulatory reform, including energy efficiency in the multifamily sector.
About the Opportunity: We are seeking an experienced accounting professional to join our collaborative finance and accounting team. In this position you will work closely with the Senior Manager of Accounting, development project staff and the Senior Vice President of Finance and Accounting in both project accounting and corporate accounting for consolidated and intercompany real estate activity:
Predevelopment: track project costs to appropriately reflect all development costs and activities prior to purchase of property and assist with the recovery of predevelopment costs.
Assist with settlement statement preparation and record property purchases
Record construction draws, process and code invoices for payment, and assist with management of sources.
Responsible for development entity financial reporting that is integrated with in-house property management.
Work in collaboration with the Development department to understand joint venture and partner structures for development projects.
Support development and finance team in debt and equity processing.
Prepare audit work for cost certification, annual property audit, and tax return preparation.
Assist with reviewing annual property audit and tax returns.
Record and reconcile intercompany activity between 100 plus property entities and parent companies.
Ensure proper recording and reporting of government grant related activity.
Reconcile major sub accounts and cash activity monthly.
Assist in preparation of quarterly financial statements.
Support Senior Manager of Accounting in preparing schedules and source data for annual audits.
Key attributes of the successful candidate:
Self-starting individual who enjoys working in collegial and entrepreneurial setting.
Ability to piece together data from many sources and individuals.
Understands real estate entity accounting, specifically affordable housing and low-income housing tax credits.
Yardi accounting system and construction module experience preferred
Audit experience preferred
Microsoft Excel, Word, Outlook
B.S. in Accounting
3-5 years of development real estate accounting experience
Preservation of Affordable Housing (POAH) is a nonprofit organization whose mission is to preserve and steward affordable rental housing to provide stability, hope and economic security to low- and moderate-income families. POAH owns and operates close to 8,000 affordable homes at 63 properties in nine states and the District of Columbia.