Development Accountant
The Community Builders - Boston, MA

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The Community Builders, Inc. is the largest nonprofit urban housing developer in the United States. Our mission is to build strong communities where people of all incomes can achieve their fullest potential. We do this by developing, financing, and operating high quality affordable mixed-income housing, by coordinating access to support services, and by planning and implementing other community and economic initiatives critical to the communities we serve. Every employee who works for The Community Builders understands what it means to make a significant difference in the lives of others. Due to anticipated growth and ongoing needs, we are searching for a Development Accountant to join our team.

Position Description:
The Development Accountant will be based in the Boston corporate office and will have responsibility for the complete accounting, financial reporting and tax compliance aspects for a portfolio of housing projects in development.

Essential Functions:
  • Conduct accounting for properties from initial offering, through the stages of acquisition, construction, cost certification, 8609 issuance and related tax filings
  • Work closely with project development managers to budget and track predevelopment costs prior to property acquisition
  • Manage accounting aspects of property purchases including recovery of predevelopment costs, non cash transactions, and lender and investor participation
  • Review underlying loan and equity partnership documents and apply proper accounting treatment to financial records
  • Maintain development general ledgers and financial statements for each property
  • Assist in the assembly and submission of construction draws, track cash receipts from funding sources and costs for Job Cost reporting and application to cost certification preparation
  • Prepare development entity financial reporting for monthly review with project managers
  • Ensure intercompany records match; research and correct and differences
  • Work with auditors to support audit work, cost certification and tax return preparation
  • Review entity financial statements, tax returns, 8609’s, and project related work
  • Assist Controller with implementation and maintenance of systems and procedures
  • Assist Controller with administration of basic tax matters
  • Assist Controller with special projects as required
Knowledge, Skills and Abilities:
  • Excellence in Microsoft Office programs (Word, Excel, Project, PowerPoint, etc.)

Education & Experience:
  • Bachelor’s degree
  • At least 3-5 years of accounting experience in affordable housing or other real estate, preferred with a background in low income housing tax credits, public accounting experience desirable

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