Accountant

About the role

The accountant plays a key role in maintaining the integrity of the Cleveland Foundation’s financial operations and philanthropic asset stewardship. This position supports accounting, reconciliation, reporting, and transaction processing activities related to gifts, grants, donor funds, spending policy, administrative fees, cash receipts, fixed assets, custodian bank transactions, outside investment managers, and audit confirmations. The accountant role works closely with Philanthropy, Grants Management, Investments, and external partners to ensure accurate financial records, strong internal controls, responsive service, and timely financial reporting. This role reports to the Senior Accountant.

Responsibilities

• Gift Accounting: Process and record gifts, pledge payments, and other donor transactions accurately and promptly; reconcile gift activity across donor funds, investment pools, banking, and accounting records; maintain accurate fund-level accounting records and resolve gift-related questions with Philanthropy and Finance colleagues.
• Spending Policy and Administrative Fee Management: Calculate, review, and record spending policy allocations and administrative fees in accordance with Foundation policy and fund-specific terms; monitor fund balances, fee activity, and available spending to support donor intent, policy compliance, and accurate reporting; assist with maintaining documentation and improving workflows for spending policy and administrative fee processes.
• Cash Receipts, Treasury Support, and Fixed Assets: Post cash receipts and reconcile activity to bank records and general ledger accounts accurately and in a timely manner; support cash management and treasury processes by ensuring accurate cash projections for the operating fund and other bank accounts; maintain the fixed asset ledger, including additions, disposals, depreciation, amortization, and tracking of depreciable and amortizable assets.
• Grants, Fund Disbursements, and Principal Distributions: Record grant commitments, payments, cancellations, and related accounting activity; reconcile grant and distribution-related accounts and partner with Grants Management to resolve payment, coding, and fund-balance questions; process principal distributions and other approved fund-level disbursements in accordance with donor restrictions and Foundation policy.
• Investment and Outside Manager Accounting: Record and reconcile investment transactions, including capital calls, distributions, manager fees, valuation updates, and cash movements; support monthly investment accounting and reporting, following up with custodians and managers to resolve discrepancies.
• Donor Statements and Fund Reporting: Support preparation, review, and reconciliation of donor statements and related fund-level reporting; ensure the Fund Statement of Activity accurately reflects gifts, grants, investment activity, spending policy, administrative fees, and fund transfers; assist with research and resolution of donor statement questions in coordination with Philanthropy team and Finance leadership.
• Audit, Compliance, and Internal Controls: Coordinate audit confirmation requests from grantees and organizational funds; support the Foundation’s annual financial statement audits and internal compliance reviews by preparing supporting schedules, reconciliations, and documentation; maintain audit-ready records and contribute to strong internal controls, process documentation, and policy compliance.
• Financial Close, Reporting, and Process Improvement: Prepare reconciliations, journal entries, schedules, and analyses to support monthly, quarterly, and annual close processes; investigate variances, resolve discrepancies, and recommend improvements to strengthen accuracy, timeliness, and efficiency; participate in system enhancements, reporting improvements, automation opportunities, and cross-functional process improvement efforts.

Requirements

• Education: Bachelor’s degree in Accounting or Finance.
• Experience: Three to five years of progressively responsible accounting experience, preferably in nonprofit, foundation, endowment, higher education, healthcare, financial services, or similarly complex environments.
• Technical Skills: Strong proficiency with Microsoft Excel and accounting systems; ability to work accurately with large volumes of detailed transactional data.
• Accounting Knowledge: Working knowledge of GAAP, fund and grants accounting, and core processes including account reconciliations, journal entries, month-end close, financial statement preparation, and audits.

Preferred Qualifications

• CPA eligibility or progress toward CPA certification.
• Experience working in a community foundation, nonprofit organization, university endowment, financial institution, or similar environment.
• Familiarity with investment accounting, alternative investment transactions, endowment accounting, donor restrictions, and spending policy processes.

Work Environment

Professional office-based environment with regular collaboration across Finance, executive leadership, committees, external advisors, investment managers, donors, and community partners. Role requires the ability to manage multiple priorities, respond to time-sensitive requests, and occasionally represent the Foundation in industry, investment, and philanthropic forums.