Job description
Introduction
For more than 135 years, the Art Institute of Chicago and School of the Art Institute of Chicago have shared a commitment to the preservation, education and exploration of the artistic ideal. The Museum and the School are proud of our longstanding relationship, and form a single corporation called the Art Institute of Chicago. While the Museum and School have a shared mission of promoting the arts and art education, their operations are largely separate and each has its own chief executive who reports directly to the corporation's Board of Trustees.
Position Summary
The Senior Account role is responsible for accounting for the Institute’s endowment, grants and donor restricted funds. Assists in the preparation of the 990 and annual and quarterly financial statements. Responsible for other balance sheet reconciliation areas as assigned, including but not limited to pledges receivable and annuity gifts.
PRIMARY DUTIES AND RESPONSIBILITIES:
- Manages the Institute’s endowment accounting process, including, but not limited to:
- Calculates the endowment spendable in accordance with the Investment Policy of the Institute via the Fundriver endowment management system.
- Enters and maintains income and fund documentation within the Fundriver system.
- Prepares the monthly market value and spendable allocations to be reviewed and posted by the Director, Financial Accounting and Reporting
- Performs ad hoc research and analysis on endowment fund activity as requested
- Creates spendable projections for budgeting purposes
- Reviews automated donor endowment reports for Development.
- Maintains governmental grant report application and report due dates in coordination with School and Museum advancement and finance offices. Works closely with both the School and Museum to ensure proposed budgets follow uniform guidance and application guidelines.
- Ensures grant compliance with all aspects of Uniform Guidance, including but not limited to documentation of competitive bids, time and effort reporting, equipment inventory and audit, allowability of costs, and match requirements.
- Reviews government (Federal, State, and Local) grant financial reports to ensure accuracy of account distribution within general ledger.
- Prepares quarterly pledge receivable work papers and journal entries. Reconciles to the Raisers Edge system.
- In partnership with Advancement Operations team, reviews donor documentation and support for requests for the creation of new endowment and restricted funds for general ledger tracking.
- Prepares quarterly journal entries related to endowment funds, grants and restricted net asset releases.
- Assists in preparation of Form 990, annual financial statement audit schedules, and external surveys as assigned.
- Assists with the preparation of materials for Trustee committee meetings or for senior leadership as needed.
- Evaluates the impact of new accounting pronouncements on endowment, financial reporting, or other areas applicable to the role.
- Performs other duties as assigned
Qualifications
- Bachelor’s degree required in Accounting or other degree with equivalent Accounting experience, CPA strongly preferred
- 3-5 years accounting experience. Grant, restricted funds or endowment accounting background preferred.
- High attention to detail, works accurately and quickly and has good organizational skills.
- Ability to work cooperatively and collaboratively with all levels of employees and management.
Benefits
We offer a competitive, comprehensive benefits package:
- Generous paid time off
- Paid holidays (up to 14 days)
- Medical, dental, and vision insurance
- Generous parental, caregiver, and medical leave benefits
- Competitive retirement plan (up to 9% matching contribution)
- Tuition remission and Tuition Exchange Program
- Great employee discounts
- Complimentary general admission to participating cultural institutions
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Application Time Out Warning
The Art Institute of Chicago requires all applicants to complete an online application to be considered for employment. 60 minutes are allotted for applicants to complete the employment application. The application will automatically time out after 60 minutes. If you are unable to submit the completed application at this time, please choose the "Save for Later" option to avoid losing the information you have entered so far.
Closing Statement
Vaccination Expectation
Becoming vaccinated against COVID-19 is the most important contribution we as individuals can make to ensure our own safety and the safety of our museum and school community. All employees must complete an attestation or request a medical or religious exemption within the first week of employment.
The Art Institute of Chicago is an Equal Opportunity Employer that recruits, hires and promotes qualified individuals without regard to race, religion, sex, sexual orientation, gender identity, age, national origin, ancestry, veteran status or citizenship. The Institute complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, please contact the Department of Human Resources at apply_help@artic.edu.
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