Director or Associate Director (experience dependent), Endowment and Gift Accounting –
GEORGIA TECH FOUNDATION
THE GEORGIA TECH FOUNDATION
The Georgia Tech Foundation is a not-for-profit corporation founded in 1932. The mission of the Foundation, its Board of Trustees, officers and staff is to foster and manage gifts in support of academic excellence in the spirit and traditions of the Georgia Institute of Technology. The Foundation is entrusted to:
Promote the cause of higher education in the State of Georgia.
Receive and manage financial donations received by the Foundation for support and enhancement of the Georgia Institute of Technology.
Assist the Georgia Institute of Technology in its role as a leading educational and research institution.
With total assets of $2.3 billion and net assets of $1.8 billion, the Foundation is well-positioned to continue fulfilling this mission into the future and providing support to the Georgia Institute of Technology it so richly deserves.
The Director/Assoc. Director, Endowment and Gift Accounting is a member of the accounting and finance team of the Georgia Tech Foundation and reports to the Controller. This position is available due to the upcoming retirement of the incumbent. The Director / Assoc. Director is responsible for all activities related to endowment and gift accounting including review and evaluation of endowment and gift agreements, unitization of the investment pool, gift processing, endowment spending analytics, endowment management system development and enhancement, treasury services, and compliance. Responsible for the establishment, implementation, and oversight of a structured, systematic and streamlined program for endowment reporting which will outlast changes in staff and assure perpetual and mutually beneficial relationships with donors. The Director/Assoc. Director is a key staff liaison with the Georgia Institute of Technology’s Office of Development, Alumni Association, and other groups that support fundraising and philanthropic efforts. In addition, the Director/Assoc. Director will work closely with the Foundation’s investment accounting and operations teams, external auditors and tax preparers, technology services, and various other internal and external constituents.
Working closely with and under the direction of the Controller, key responsibilities include:
Calculate and prepare the endowment distribution of income to each individual endowment account, currently numbering in excess of 2,500 individual accounts.
Generate estimates and projections of endowment spending distributions as requested and as part of the annual budget process.
Perform qualitative and quantitative analysis of the endowment fund and its accounts. Research and respond to endowment and fund balance inquiries.
Manage monthly/quarterly/annual closing processes promoting accuracy, clarity, consistency, and efficiency, including the preparation of journal entries for endowment-related activities.
Assemble detailed endowment related information for tax preparation, monthly and year-end close, annual external audit, and assist in audit and compliance-related tasks.
Monitor endowment accounts for compliance with donor stipulations and Foundation policies governing spending and reinvestment levels.
Update and reconcile endowment records, and, coordinate related functions with the Institute Office of Development staff as needed.
Work closely with the Foundation’s technology services group to ensure endowment and gift records warehoused in the donor management system are accurate for purposes of annual endowment accounting and tax reporting efforts.
Produce management reports in support of communications with leadership, the Institute and the Board of Trustees
Continuously evaluate and make recommendations to improve processes and systems that support endowment management and gift processing operations.
Maintain and enhance the accounting and financial information systems related to endowment and gifts management, and, provide leadership in recommending and implementing improvements.
Partner with the Controller, CFO and the technology services team to evaluate, select and implement a new endowment management/accounting system.
Prepare strategic financial analysis as requested by the Controller, the CFO and Foundation leadership. Assumes additional responsibilities and engages in special projects as needed.
OPPORTUNITIES AND CHALLENGES
The Foundation has grown significantly in size and complexity over the past several years in terms of size of endowed assets, number of endowments and gifts, etc. Despite this growth, infrastructure, systems, and technology platforms have not been updated to support the current and future needs of the organization.
The Foundation will need to evaluate, select and implement a new endowment management system in the near future. This will require evaluation of existing policies and processes, assessment of current staff resources, managing through change and effective communication.
The Director/Assoc. Director must be willing to take a hands-on role when required in the preparation of management reports, budgets, endowment account analyses, etc. The accounting and finance team of the Foundation is highly-collaborative and the Director/Assoc. Director is expected to be a positive, supportive member of the team.
QUALIFICATIONS AND CHARACTERISTICS
A bachelor’s degree in accounting, finance, business, or a related field and seven or more progressive experience in accounting and financial roles.
CPA or equivalent certification is preferred.
Experience in endowment, gift, investment accounting is preferred.
Experience in not-for-profit, higher education, or public administration is preferred.
Strong knowledge of accounting systems with an emphasis on not-for-profit accounting, endowment/gift accounting is preferred.
Experience in financial reporting and analysis, financial statement preparation, system implementation and project management.
Has a demonstrated ability to use technical knowledge and tools, and the capacity to communicate financial information clearly and to work collaboratively.
The successful candidate will ideally possess the following qualities and attributes, in no particular order of importance:
Have a record of superior communication skills, successful relationship building, and collaboration with internal and external stakeholder groups.
Strong attention to detail, ability to work with detail financial information.
Strong analytic skills, able to clearly link financial results to operational performance drivers, generate alternatives and drive positive change.
Be flexible and have the ability to manage through change.
Be an individual of impeccable integrity and high ethical standards.
Support staff development and a strong team environment.
Advocate an open and transparent management approach.
Be confident, innovative, and high energy
About Georgia Tech Foundation, Inc.
Since 1932 the Georgia Tech Foundation has managed gifts given in support of academic excellence in the spirit and traditions of the Georgia Institute of Technology. Today, this great heritage is truly visible in the Foundation’s board of trustees, officers and it’s staff commitment to its mission: to promote the cause of higher education in the State of Georgia; to receive and manage financial donations received by the Foundation for support and enhancement of the Georgia Institute of Technology and to assist the Georgia Institute of Technology in its role as a leading educational and research institution.
The Georgia Institute of Technology (commonly referred to as Georgia Tech, Tech, or GT) is a public university in Atlanta, Georgia, in the United States. It is a part of the University System of Georgia and has satellite campuses in Savannah, Georgia; Metz, France; Athlone, Ireland; Shenzhen, China; and Singapore.
The educational institution was founded in 1885 as the Georgia School of Technology as part of Reconstruction plans to build an industrial economy in the post-Civil War Southern United States. Initially, it offered only a degree in mechanical engineering. By 1...901, its curriculum had expanded to include electrical, civil, and chemical engineering. In 1948, the school changed its name to reflect its evolution from a trade school to a larger and more capable technical institute and research university.