Development Accountant (Foster City Office)

MidPen Housing; Foster City (CA); On-site; USD 90,000 - 95,000; Full time

Benefits offered by this job

Dental, Vision, Life & Disability Insurance

403(b) Retirement Investment

Employee Education Reimbursement

Paid Time Off

Wellness Days

Job summary

MidPen Housing in Foster City is looking for a Development Accountant responsible for the full accounting cycle of development projects. This includes managing financial statements, ensuring compliance with accounting standards, and preparing audit schedules.

The ideal candidate will have a strong understanding of GAAP, a CPA preferred, and experience with regulatory agreements. The position offers an annual salary between $90,000 and $95,000 and a competitive benefits package.

Qualifications

• Strong understanding of GAAP and Low-Income Housing Tax Credit rules.
• Experience in reviewing compliance of regulatory agreements.
• Advanced PC applications: Excel, Word, Access, Outlook.

Responsibilities

• Prepare and submit loan draw requests.
• Perform general ledger analysis and reconciliations.
• Collaborate with project managers and accountants.

Skills

GAAP knowledge

Accounting software proficiency

Excel proficiency

Ability to multi-task

Communication skills

Education

CPA preferred

2+ years of general ledger accounting experience

Tools

RealPage

Job description

Development Accountant (Foster City Office)

Location: Foster City, California

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 130 properties is home to 20,000 working families, seniors, and people with special needs.

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

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 ten plus projects with a minimum of six major ongoing 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 the 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.
• Read and understand 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

• 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 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.
• Must be able to communicate with diverse parties and promote department teamwork.

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.

Pay Range $90,000 – $95,000 Annual Salary (Pay based on applicable experience and qualifications)

Benefits

• Dental, Vision, Life & Disability Insurance
• 403(b) Retirement Investment
• Employee Education Reimbursement Program
• 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.