Hiring Range: $90,000 – $110,000
In partnership with the University Advancement Division, the Tower Foundation of San José State University is San José State University’s 501c3 auxiliary organization dedicated solely to philanthropy. Tower Foundation assists with the development, investment, administration, and banking of all SJSU philanthropic donations to build a culture of philanthropy among its alumni and the university community.
POSITION SUMMARY
Reporting directly to the Tower Foundation Controller, the Senior Endowment Accountant is a pivotal role responsible for all monthly, quarterly, and annual accounting activities concerning the Tower Foundation’s $230+ million endowment and the non-endowment investment portfolio. The incumbent drives critical financial operations by performing financial modeling for the annual endowment distribution, producing detailed management and ad hoc financial reporting, and responding directly to account holder inquiries. This individual is expected to propose appropriate action on a wide variety of complex legal and accounting issues related to endowments, spending budgets, and other special projects as assigned.
This position serves as a key liaison between the Tower Foundation and various University departments, resolving issues and answering questions regarding specific gift and endowment funds. The Senior Endowment Accountant is tasked with evaluating and recommending appropriate endowment accounting treatment in strict accordance with GAAP, GAAS, and UPMIFA. The required technical duties encompass the review of gift agreements, auditing financial ledgers, preparing and reviewing journal entries, preparing data for investment footnotes in financial statements, and performing complex account and investment reconciliations. The role includes preparing schedules for endowment distribution and providing oversight of the Fundriver endowment system. The successful candidate must be an exceptionally well-organized, action-oriented, and data-driven analyst who is also a skilled listener and thoughtful communicator.
This is a full-time, at-will position, offering comprehensive benefits. The position is designated exempt under FLSA and is not eligible for overtime compensation. Standard work hours are Monday – Friday, 8:00 a.m. to 5:00 p.m., but may vary based on operational needs. This position is approved for partial telecommuting with onsite work on campus at SJSU. The Tower Foundation offers an excellent benefits package, including medical, dental, vision, life insurance, short and long-term disability, 403B retirement, tuition reimbursement, vacation, and sick leave.
ESSENTIAL DUTIES AND RESPONSIBIITIES:
1. Investment Portfolio & Endowment Management
· Prepares monthly investment reconciliation and analyses and various forecasts, calculates and follows up on variances, prepares audit schedules
· Reconciles investment statements and analyses, analyses and forecasts trends, reviews investment journal entries
· Assists with preparation for annual financial statement audit
· Responsible for regular endowment analysis and reporting distributed to campus partners
· Forecasts future individual endowment distributions based on various giving scenarios
· Reviews departmental spending, prepares comparative spending analysis
· Monitors accounting for endowments, prepares and reviews journal entries, ensures endowment accounts are reconciled and recorded at fair value
· Maintains endowment and pre-endowment subsidiary ledgers and the Fundriver endowment system
· Prepares and submits reports and analyses as requested and required
2. Accounting Management
· Reviews all endowment gift agreements and planned giving instruments, recommends appropriate classification and accounting; sets up new endowment accounts
· Reviews existing endowment gift agreements to ensure use of distribution funds is in line
with donor intent
· Proposes updates and changes to gift agreements to comply with current law
· Ensures endowed scholarships are expended; secures annual return of unexpended funds from Financial Aid per donor instruction
· Prepares reports sent to update endowment donors on the performance of their funds
· Communicates with campus partners as needed to address questions and provides updates as needed to Development Officers for donor visits
3. Endowment Distribution Management
· Builds and revises financial models for various distribution scenarios; recommends spending rate, prepares material for review and approval by Board of Directors
· Prepares comparative analysis of current endowment values and distribution for campus stakeholders
QUALIFICATIONS
Education:
· Undergraduate degree with a major in accounting. May substitute a combination of education and experience which provides the required knowledge and abilities
· Certified Public Accountant (CPA) preferred
Experience:
· A minimum of five years in progressive accounting experience
· Experience applying GAAP requirements for financial reporting
· Experience using MS Excel skills including v-lookup, pivot tables, and macros in advanced capacity
4. KNOWLEDGE, SKILLS AND ABILITIES
· Current knowledge of GAAP requirements for financial reporting
· Excellent verbal and written communication skills
· Strong analytical and problem-solving skills
· Excellent organization skills with attention to detail
· Ability to handle multiple tasks simultaneously and meet deadlines
· Ability to establish good working relationships with a diverse population and build trust and partnership across campus
· Ability to prepare complex schedules for monthly, quarterly and year-end reporting to donors, the campus and account holders
PHYSICAL REQUIREMENTS
· The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
· Position may be required to work at a computer terminal and desk for long periods of time on projects. May be required to travel between campus offices and off-campus locations. Physical ability to utilize computer and other office equipment in performing a variety of office functions.
REASONABLE ACCOMMODATION
The Tower Foundation of San José State University is committed to providing reasonable accommodations during the application process to qualified individual with a disability. Applicants may request an accommodation by contacting Human Resources at (408) 924-1127.
APPLICATION PROCEDURE
To apply for this position, submit a resume and letter of interest to towerjobs@sjsu.edu. If offered the job, it will be contingent on a successful background check.
Tower Foundation is NOT a visa sponsoring organization
The Tower Foundation of San José State is a 501c3 not-for-profit auxiliary of San José State University. Tower Foundation employment is separate and distinct from San Jose State University or State of California employment. Tower Foundation is an Equal Opportunity Employer committed to nondiscrimination on the basis of race, color, religion, national origin, sex, sexual orientation, gender status, marital status, pregnancy, age, disability, or covered veteran’s status, consistent with all applicable federal and state laws. Reasonable accommodations will be provided for applicants with disabilities who self-disclose.