Development Accountant (Foster City Office)

Job Description

Job Description

About MidPen

At MidPen, we build communities that change lives. Since 1970, we have been committed to our mission: to provide safe, affordable housing of high quality to those in need; establish stability and opportunity in the lives of residents; and foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect.

We develop affordable housing, provide professional property management for all our communities, and coordinate robust onsite support programs that help residents thrive. We are active in 12 Northern California counties and have earned recognition as one of the nation's leading non-profit developers and stewards of affordable housing. Our current portfolio of more than 142 properties is home to 22,800 working families, seniors, and people with special needs. We take pride in delivering affordable housing solutions, and we invite you to join us on a journey toward social, economic, and racial equity.

MidPen is, once again, proud to be certified as an official Great Place to Work® in 2025.

Location: Foster City Office

Development Accountant

This position is responsible for the full accounting cycle of development projects and newly placed in service properties in a given portfolio around 10 plus projects with minimum of 6 major on-going projects, including the analytical and reconciliation of all transactions in compliance with US GAAP, MidPen Accounting Policies and Procedures Manual and other statutory requirements, e.g., Low Income Housing Tax Credit rules.

The Development Accountant works with a variety of team members in Development, Corporate and Property Accounting, Property Management, Asset Management and Resident Services as well as the management team at MidPen.

Responsibilities

• Prepare and submit loan draw requests in a timely manner.
• Track project actual costs and funding usages vs. project budgeted and contracted amounts in Job Cost Module and related interface with various applications. Prepare analysis of budget, contract, and actual variances, as needed
• Perform general ledger analysis for the assigned projects, account reconciliations, monthly close and prepare financial statements
• Prepare annual audit schedules and work with external auditors to complete audit and tax returns and ensure all are filed within timeline of partnership and other applicable agreements
• Collaborate with project managers and other accountants to meet company's accounting needs and reporting requirements
• Apply and understand the proper accounting treatment under GAAP with accurate documentation and correct recording of transactions.
• Prepare annual audit schedules and works with the external auditors to complete audited financial and prepare cost cert audit with support from accounting managers
• Responsible for reading and understanding all compliance and partnership documents of assigned projects, including regulatory and loan agreements, as well as accounting treatment associated with each document
• Concisely present financial information and appropriately answer accounting questions to management and other users, as requested
• Ensure all inter-entity transactions are in balance. Analyze and clear variances prior to financial reporting close
• Ensure surplus distributions are correctly calculated and appropriately distributed
• Provide ad-hoc reporting, as requested. High proficiency in Excel tools used in analysis

Qualifications

Physical Requirements

• Constantly perform desk-based computer tasks
• Frequently sitting
• Occasionally stand/walk, reach/work above shoulders, grasp lightly/fine manipulation, grasp forcefully, use a telephone, sort/file paperwork or parts, lift/carry/push/pull objects that weigh up to 10 pounds
• Rarely twist/bend/stoop/squat, kneel/crawl

Education and Experience

• Bachelor degree in Accounting or Business Administration
• CPA preferred. Strong GAAP knowledge required, and Low-Income Housing Tax Credit knowledge a plus.
• Minimum of two years of general ledger accounting experience required with increased responsibilities.
• Experience in accounting for job costs, real estate development, property rehab or construction, preferred.
• Experience reviewing and ensuring compliance of regulatory, partnership, and loan agreements preferred.
• Experience using enterprise accounting software and working knowledge of RealPage preferred.
• High degree of accuracy, accountability and consistency produce quality work.
• Ability to multi-task and work with changing priorities.
• Advanced PC applications: Excel, Word, Access, and Outlook.
• Excellent English written and oral communication skills.
• Must be able to communicate with diverse parties and promote department teamwork.

​​​​​​​ Pay Range

$90,000 - $95,000 Annual Salary - Pay based on applicable experience and qualifications

Benefits and Compensation (see here for full details)

• Health Insurance
• Dental, Vision, Life & Disability Insurance
• 403(b) Retirement Investment
• Employee Education Reimbursement Program
• Paid Parental Leave
• FSA for Childcare, Medical, and Commuter Benefits
• EAP Program
• Pet Insurance
• Paid Time Off
• Company Holidays
• Wellness Days

EQUAL OPPORTUNITY EMPLOYER

MidPen Housing Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

We are committed to providing an inclusive and accessible hiring process. If you need a reasonable accommodation for any part of the application or interview process, please notify your recruiter. Consistent with its obligations under the law, MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.