Accountant

Description

About Us

The Cleveland Foundation, established in 1914 as the world’s first community foundation, continues to shape the future of place-based philanthropy more than a century later. With $4.1 billion in assets and a legacy of bold leadership, we are driven by a commitment to improve the lives of everyone who calls Greater Cleveland home, today and for generations to come.

Joining our team means becoming part of a culture that blends history-making impact with forward-looking innovation. Our vision is a vibrant Northeast Ohio where no Clevelander is left behind. Every team member plays a key role in advancing this vision by tackling Cleveland’s most critical issues, championing opportunities for all, and helping unlock the full potential of our region.

Our headquarters in the heart of MidTown places us at the center of a historic neighborhood and growing district, surrounded by partners, community leaders and residents who are reimagining what’s possible for our city. Here, you’ll work in a dynamic, collaborative environment designed to spark creativity, deepen relationships, and accelerate change.

At the Cleveland Foundation, you can be part of building a stronger future for every Clevelander.

About You

You are a detail-oriented accounting professional who values accuracy, accountability, and process. You understand that strong financial stewardship enables meaningful community impact and that every transaction supports donor trust, grantmaking excellence, and the Foundation’s long-term mission. 

You bring strong analytical skills, intellectual curiosity, and a commitment to continuous improvement. You are comfortable managing a high volume of detailed transactions, reconciling complex activity, communicating across departments, and using sound judgment to resolve issues while maintaining compliance with policies, internal controls, and accounting standards. 

Job Summary

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. 

Key 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.

General Competencies

• Judgment
• Communication
• Teamwork & Collaboration
• Adaptability
• Problem-Solving

Requirements

Required Qualifications

• 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.