Director of Accounting

Company Description About Atlantic Housing Foundation: Atlantic Housing Foundation (AHF), Inc. is a 501(c)3 not-for-profit affordable housing provider. Founded in 1999, we currently own and operate over 10,000 units of multifamily properties in 6 states and 37 cities. In addition to HUD HAP and LIHTC properties, Atlantic Housing owns and operates affordable housing, mixed-income multifamily assets, student housing and senior housing. The mission of Atlantic Housing Foundation, Inc. is to promote and preserve quality affordable housing and related services for low and moderate income families, helping residents improve their lives. We will do this in a manner that will foster the continuous improvement of our people and our company. We strive to be a top performing, thoroughly professional and genuinely caring organization in all that we do. As an organization, we aspire to and believe in - Making a difference. Why Should You Apply? You believe in the AHF mission and core values You are the best at what you do You meet the qualifications below Benefits Offered Paid every two weeks Educational Reimbursement Opportunities for upward mobility 12 Paid Company Holidays 16 hours of Learning Time Off annually 32 hours of Volunteer Time Off annually Competitive Paid Time Off accrual This role is eligible for overtime Rent discount if living on-site Multiple health care insurance plans that cover medical, dental, prescription, vision, employer HSA contributions, and supplemental health insurance Competitive 401(k) Program with employer matching contributions Job Description We are seeking an accomplished and highly detail-oriented Director of Accounting to lead the company's complete accounting function, covering development/project-level transactions, corporate finance operations, and ongoing property-level accounting for a diverse portfolio of multifamily affordable housing communities. This leadership position is responsible for managing all aspects of HUD, Project Based Section 8, LIHTC and other affordable housing financing compliance, including the full life cycle of development accounting (construction draws, equity installments, acquisitions, and dispositions), corporate accounting (financial reporting, budgeting, cash management), and property accounting (monthly operations, compliance, and lender reporting). The Director of Accounting will serve as a key strategic partner to the CFO and senior leadership, ensuring the organization meets its operational, financial, and compliance objectives. Key Responsibilities Development Accounting Oversee full-cycle development accounting from acquisition or ground-up construction through stabilization for multiple concurrent projects. Manage construction draw preparation and submission to lenders/investors, ensuring complete backup, accurate budget-to-actual tracking, and timely funding. Monitoring capital stack funding sources, including debt, tax credit equity, grants, and soft loans Manage the tracking, accounting and assisting of the preparation of partner equity installments, including gathering all documents required for partner equity installments, modeling of financial stabilization resulting in final permanent loan amounts, verifying contribution amounts, and reconciling partnership agreements. Coordinate acquisition and disposition accounting, including purchase price allocations, closing statement reconciliations, and gain/loss reporting. Coordinate closely with development and construction teams to ensure accurate project budgets, cost allocations, and capitalization of expenditures Prepare and monitor development cost reports, track budget-to-actual variances, and analyze project-level cash flows Ensure timely and accurate submission of funding requisitions to lenders, investors, and public agencies Oversee the preparation and review of cost certifications, final LIHTC submissions and 8609s Collaborate with development managers to provide real-time financial insight for budget revisions, change orders, and funding drawdowns. Corporate Accounting Direct the preparation of quarterly AHF/AHM Guarantor financial statements, ensuring accuracy, completeness, and compliance with GAAP as well as the Real Estate Owned (REO) schedule Manage corporate cash flow forecasting, treasury operations, and intercompany account reconciliations. Lead corporate budgeting and forecasting, partnering with department heads to align budgets with operational and strategic priorities. Oversee corporate payroll, accounts payable, accounts receivable, and fixed asset management. Direct the preparation of AHF consolidated corporate financial statements, ensuring accuracy, completeness, and compliance with GAAP Coordinate annual corporate audits and tax filings with external auditors and tax advisors. Maintain and continuously improve internal controls, policies, and accounting procedures across the organization. Property Accounting Supervise accounting for stabilized and operating properties, including preparation and review of monthly and quarterly financial statements. Oversee rent roll reconciliations, tenant receivables, and delinquency monitoring, ensuring compliance with affordable housing program rent restrictions. Monitor and reconcile operating and replacement reserves in accordance with lender, investor, and regulatory requirements. Ensure timely preparation and submission of lender and investor financial reporting packages, including variance explanations. Collaborate with property management to monitor expense controls, budget adherence, and net operating income performance. Review and approve annual operating budgets for each property, ensuring accuracy and alignment with financing and compliance requirements. Support annual property audits, tax return preparation, and investor compliance certifications. Leadership & Strategic Support Lead, mentor, and develop the accounting team (9 including 2 managers), fostering professional growth and cross-training in development, corporate, and property accounting disciplines. Partner with the CFO to assess financing structures, evaluate investment opportunities, and analyze organizational financial health. Act as a liaison between accounting, development, construction, asset management, property management, and compliance teams to ensure seamless coordination and reporting. Drive process improvements, technology adoption, and system integrations to streamline accounting workflows and enhance data accuracy. Qualifications Bachelor's degree in Accounting, Finance, or related field; CPA and/or MBA preferred. Minimum 12 years of progressive accounting experience with at least 7 years in a leadership capacity in multifamily affordable housing development. Proven track record managing LIHTC accounting, cost certifications, and affordable housing compliance reporting. Deep understanding of development accounting transactions including construction draws, equity installments, acquisitions, and dispositions. Demonstrated experience in corporate and property-level accounting in a multi-entity environment. Proficiency in real estate accounting software (Yardi, MRI, Sage, or equivalent) and advanced Excel skills. Strong knowledge of partnership/joint venture accounting, equity waterfalls, and investor reporting requirements. Excellent analytical, organizational, leadership, and communication skills. Preferred Attributes Experience with HUD programs, HOME funds, Section 8, LIHTC and other public financing sources. Ability to manage competing priorities in a fast-paced, deadline-driven environment. Skilled at building collaborative relationships across multiple departments and external partners. Commitment to accuracy, integrity, and compliance. Compensation: Competitive salary commensurate with experience, performance-based bonus, comprehensive benefits. Additional Information All your information will be kept confidential according to EEO guidelines. #indst