Company Description

About Atlantic Housing Foundation:
Atlantic Housing Foundation (AHF), Inc. is a 501(c)3 not-for-profit affordable housing provider. Founded in 1999, we currently own and operate over 10,000 units of multifamily properties in 6 states and 37 cities. In addition to HUD HAP and LIHTC properties, Atlantic Housing owns and operates affordable housing, mixed-income multifamily assets, student housing and senior housing.

The mission of Atlantic Housing Foundation, Inc. is to promote and preserve quality affordable housing and related services for low and moderate income families, helping residents improve their lives. We will do this in a manner that will foster the continuous improvement of our people and our company. We strive to be a top performing, thoroughly professional and genuinely caring organization in all that we do. As an organization, we aspire to and believe in - Making a difference.

Why Should You Apply?

• You believe in the AHF mission and core values
• You are the best at what you do
• You meet the qualifications below

Benefits Offered:

• Paid every two weeks
• Educational Reimbursement
• Opportunities for upward mobility
• 12 Paid Company Holidays
• 16 hours of Learning Time Off annually
• 32 hours of Volunteer Time Off annually
• Competitive Paid Time Off accrual
• This role is eligible for overtime
• Rent discount if living on-site
• Multiple health care insurance plans that cover medical, dental, prescription, vision, employer HSA contributions, and supplemental health insurance
• Competitive 401(k) Program with employer matching contributions

Job Description

We are seeking an accomplished and highly detail-oriented Director of Accounting to lead the
company’s complete accounting function, covering development/project-level transactions,
corporate finance operations, and ongoing property-level accounting for a diverse portfolio
of multifamily affordable housing communities.

This leadership position is responsible for managing all aspects of HUD, Project Based Section
8, LIHTC and other affordable housing financing compliance, including the full life cycle of
development accounting (construction draws, equity installments, acquisitions, and dispositions),
corporate accounting (financial reporting, budgeting, cash management), and property
accounting (monthly operations, compliance, and lender reporting). The Director of Accounting
will serve as a key strategic partner to the CFO and senior leadership, ensuring the organization
meets its operational, financial, and compliance objectives.

Key Responsibilities:

Development Accounting

• Oversee full-cycle development accounting from acquisition or ground-up
construction through stabilization for multiple concurrent projects.
o Manage construction draw preparation and submission to lenders/investors,
ensuring complete backup, accurate budget-to-actual tracking, and timely
funding.
o Monitoring capital stack funding sources, including debt, tax credit equity,
grants, and soft loans
o Manage the tracking, accounting and assisting of the preparation of partner
equity installments, including gathering all documents required for partner
equity installments, modeling of financial stabilization resulting in final

permanent loan amounts, verifying contribution amounts, and reconciling
partnership agreements.
o Coordinate acquisition and disposition accounting, including purchase price
allocations, closing statement reconciliations, and gain/loss reporting.

• Coordinate closely with development and construction teams to ensure accurate project
budgets, cost allocations, and capitalization of expenditures
• Prepare and monitor development cost reports, track budget-to-actual variances, and
analyze project-level cash flows
• Ensure timely and accurate submission of funding requisitions to lenders, investors,
and public agencies
• Oversee the preparation and review of cost certifications, final LIHTC submissions
and 8609s
• Collaborate with development managers to provide real-time financial insight for budget
revisions, change orders, and funding drawdowns.
Corporate Accounting
• Direct the preparation of quarterly AHF/AHM Guarantor financial statements, ensuring
accuracy, completeness, and compliance with GAAP as well as the Real Estate Owned
(REO) schedule
• Manage corporate cash flow forecasting, treasury operations, and intercompany
account reconciliations.
• Lead corporate budgeting and forecasting, partnering with department heads to align
budgets with operational and strategic priorities.
• Oversee corporate payroll, accounts payable, accounts receivable, and fixed asset
management.
• Direct the preparation of AHF consolidated corporate financial statements, ensuring
accuracy, completeness, and compliance with GAAP
• Coordinate annual corporate audits and tax filings with external auditors and tax advisors.
• Maintain and continuously improve internal controls, policies, and accounting procedures
across the organization.
Property Accounting
• Supervise accounting for stabilized and operating properties, including preparation and
review of monthly and quarterly financial statements.
• Oversee rent roll reconciliations, tenant receivables, and delinquency monitoring,
ensuring compliance with affordable housing program rent restrictions.
• Monitor and reconcile operating and replacement reserves in accordance with lender,
investor, and regulatory requirements.
• Ensure timely preparation and submission of lender and investor financial reporting
packages, including variance explanations.
• Collaborate with property management to monitor expense controls, budget adherence,
and net operating income performance.
• Review and approve annual operating budgets for each property, ensuring accuracy and
alignment with financing and compliance requirements.

• Support annual property audits, tax return preparation, and investor compliance
certifications.

Leadership & Strategic Support
• Lead, mentor, and develop the accounting team (9 including 2 managers), fostering
professional growth and cross-training in development, corporate, and property
accounting disciplines.
• Partner with the CFO to assess financing structures, evaluate investment opportunities,
and analyze organizational financial health.
• Act as a liaison between accounting, development, construction, asset management,
property management, and compliance teams to ensure seamless coordination and
reporting.
• Drive process improvements, technology adoption, and system integrations to streamline
accounting workflows and enhance data accuracy.

Qualifications

Qualifications
• Bachelor’s degree in Accounting, Finance, or related field; CPA and/or MBA
preferred.
• Minimum 12 years of progressive accounting experience with at least 7 years in a
leadership capacity in multifamily affordable housing development.
• Proven track record managing LIHTC accounting, cost certifications, and affordable
housing compliance reporting.
• Deep understanding of development accounting transactions including construction
draws, equity installments, acquisitions, and dispositions.
• Demonstrated experience in corporate and property-level accounting in a multi-entity
environment.
• Proficiency in real estate accounting software (Yardi, MRI, Sage, or equivalent) and
advanced Excel skills.
• Strong knowledge of partnership/joint venture accounting, equity waterfalls, and investor
reporting requirements.
• Excellent analytical, organizational, leadership, and communication skills.

Preferred Attributes
• Experience with HUD programs, HOME funds, Section 8, LIHTC and other public
financing sources.
• Ability to manage competing priorities in a fast-paced, deadline-driven environment.

• Skilled at building collaborative relationships across multiple departments and external
partners.
• Commitment to accuracy, integrity, and compliance.

 

Compensation: Competitive salary commensurate with experience, performance-based bonus,
comprehensive benefits.

Additional Information

All your information will be kept confidential according to EEO guidelines. #indst