Senior Accountant, Revenue Recognition & Allocation

Position:                          Senior Accountant, Revenue Recognition & Allocation Team:                               Accounting and Finance Reports to:                      Director, Finance and Administration Location:                         Chicago, Illinois, USA The Global FoodBanking Network (GFN) seeks to nourish the world’s hungry through uniting and advancing food banks. Founded in 2006, GFN connects food banking organizations in 44 countries that together serve more than 16 million people annually. The organization is based in Chicago and currently operates with a team of over thirty employees based in US, Latin America and Asia and engages a globally diverse Board of Directors. Our goal is to support communities in their fight against hunger and food insecurity through advancing the food banking model.  GFN launched a new strategic plan in 2019 that charts continued growth with an ambitious vision to help enable its food bank members to materially increase the amount of food distributed to those in need, distribute more nutrient-rich foods, and strengthen the resilience of their communities. Its major goals include:
  • Increase the number of people served by food banks with which GFN currently works;
  • Expand food banking in Asia and Sub-Saharan Africa;
  • Support food banking organizations in distributing a greater diversity of foods;
  • Build a trusted global network of food rescue and relief organizations.
Our 2030 vision is a global network of community-led food banks that serve meals to 50 million people facing hunger.  Our team provides best practices, partners and resources to food bank founders and organizations to help them fight hunger more effectively.  In the next five years, we are especially aiming to come alongside changemakers in low-income communities, primarily those based in Asia, Sub-Saharan Africa, and Latin America. The Opportunity: In less than five years, GFN has grown from a $2M to a $20M+ organization.  During this same time period the organization’s staff has doubled in size. GFN is seeking a senior accountant to assist in processing the ever-growing number of transactions and support the Finance and Administration function. The Senior Accountant, Revenue Recognition & Allocation provides fiscal and accounting support and is responsible for maintaining accurate financial information.   The Senior Accountant is primarily responsible for donor related transactions to include revenue recognition, reconciliation, grant expense processing and allocations pertaining to releasing donor restrictions.  The Senior Accountant must understand nonprofit accounting, revenue reporting, allocation methodology and donor restrictions. This is a critical role in a growing team and requires an exceptional performer. The successful candidate will be able to learn new processes quickly, adapt to ever-changing priorities, communicate effectively, and work collaboratively across the team and across multiple functions. Responsibilities include but are not limited to:
  • Ensure the integrity of the accounting records and information by recording, verifying, and entering transactions.
  • Manage all donor information in accounting system. Set up donors according to protocol.
  • Record all donations and pledges in the accounting system ensuring correct account, program, project and donor codes.
  • Record revenue and reconcile all merchant accounts and other online revenue sources.
  • Reconcile donations per the accounting system with Sales Force. Resolve discrepancies.
  • Maintain appropriate backup for all deposits and reconciliations.
  • Maintain schedules and supporting documentation of all grants and restricted funds and reconcile between development and finance records.
  • Record all grants payable in the accounting system with correct coding.
  • Maintain grant expense schedule to support accuracy of net asset reporting.
  • Act as primary liaison to Strategic Grant department to resolve discrepancies and issues.
  • Prepare and record program and donor allocation journal entries.
  • Maintain schedule of available funding by program.
  • Maintain net assets schedule recording all new donations and monthly restriction releases.
  • Assist in the accurate and timely monthly closing of the financial statements and month-end account reconciliations.
  • Ensure assigned general ledger accounts are correctly stated and properly reconciled at the end of each month.
  • Research and correct accounting errors or discrepancies to ensure accurate reporting as needed.
  • Perform accounting tasks related to daily, month-end, and year-end close.
  • Assist in the execution and maintenance of the internal control policies and procedures, voice potential process improvements to drive change in the organization.
  • Complete ad-hoc analysis requests quickly while maintaining integrity and accuracy of data.
  • Ensure compliance with Generally Accepted Accounting Principles (GAAP), company policies, funder, and organizational rules and regulations.
  • Assist with annual audit and Annual Form 990; prepare schedules as requested.
  • Work on special projects as assigned throughout the year as requested.
  • Other responsibilities as assigned.
Candidate Profile: The ideal candidate will have the following qualifications:
  • BA/BS in accounting, business administration, or other relevant discipline, or equivalent combination of training and experience
  • At least 4 years of nonprofit accounting experience. 
  • 2-4 years of experience in the practical application of GAAP specifically focused on revenue recognition and allocations.
  • Demonstrated knowledge of nonprofit accounting and finance principles and practices.
  • Strong understanding of donor restrictions and allocation methods.
  • Advanced proficiency in excel, proficiency in other MS Office Suite applications and Adobe Pro.
  • Experience using nonprofit software, Sage Intacct a plus.
  • Good understanding of Generally Accepted Accounting Principles (GAAP)
  • Ability to interpret, explain, and analyze financial data.
  • Ability to identify process improvements and make recommendations.
  • Detailed and meticulous in monitoring, tracking, and reporting.
  • Track record of balancing multiple priorities simultaneously with the ability to adapt to the changing needs, while meeting deadlines.
  • Ability to work independently and as part of a team.
  • Ability to respect the confidentiality of information.
  • Strong verbal and written communication skills with the ability to effectively interact with all colleagues.
  • A commitment to the mission of reducing world hunger through the advancement of food banking.
Location: The position will be based at GFN’s global headquarters in Chicago, Illinois, USA (remote location as needed during the COVID-19 crisis). To Apply: Please email a cover letter, resume, and salary expectations to hr@foodbanking.org. The Global FoodBanking Network embraces a philosophy that recognizes and values diversity. Its goal is to attract, develop, and retain a talented, diverse workforce in a culture where all employees will contribute to their fullest potential.  EOE