Tax Analyst, Investment Office

University of Chicago; Chicago (IL); On-site; USD 72,000 - 93,500; Full time

Benefits offered by this job

Benefits eligible

Job summary

The University of Chicago's Investment Office seeks a Tax Analyst to own tax data for Form 990-T. The role involves tracking K-1s, computing UBTI and NII, and preparing tax disclosures in support of investment activities.

The candidate will act as the primary contact with external fund managers and tax advisors, maintain investment tax records, and assist with international filings and state filings as needed.

Qualifications

• College or university degree in related field.
• 2–5 years of work experience in a related tax discipline.
• Experience in university, endowment, or institutional investment environment preferred.
• CPA or CPA-eligible; Enrolled Agent (EA) valued.

Responsibilities

• Monitor and review K-1s for items relevant to UBTI and NII.
• Compute UBTI, NII, and associated tax liabilities.
• Maintain investment tax records and Form 990-T disclosures.
• Serve as primary contact with external fund managers and tax advisors.
• Prepare international filings (Forms 5471, 8865, 8858, 926, 8621).
• Prepare miscellaneous state income and franchise tax returns arising from investments.

Skills

K-1 analysis

UBTI concepts

Tax accounting

Excel

Tax reporting

Education

Master's in accounting

MBA with accounting

Tools

K-1 aggregation software

Tax software

Job description

About The Department

Finance and Administration (F&A) aims to provide the services and support needed to foster an environment of academic and research excellence at the University of Chicago. We are dedicated to collaborative partnerships with our colleagues and customers that lay the foundation for an exemplary service delivery process. Being fully aligned with the strategic and academic priorities of the University, each of the departments within F&A is tasked with implementing the processes necessary to achieve lasting excellence.

Department

F&A FIN - Tax Accounting

Job Summary

Reporting to the Tax Manager in Financial Services, this Tax Analyst sits in the University’s Investment Office and owns the tax data that feeds the Form 990-T. The day-to-day work centers on tracking K-1s, computing federal and state tax liabilities, maintaining investment related tax records, and preparing tax disclosures. The Tax Analyst serves as one of the University’s representatives to external fund managers and advisors on all tax data matters.

• Monitors the receipt of Schedules K-1 from the University’s investment partnerships and funds. Reviews K-1s for items relevant to unrelated business taxable income (UBTI) and net investment income (NII). Reconciles K-1 data against internal investment records and follows up with fund managers and administrators for clarification.
• Computes UBTI from partnership activities, including debt-financed income and other items reportable on the 990-T. Applies the UBTI siloing rules to separately track income and loss by trade or business. Maintains silo-by-silo net operating loss records.
• Computes the NII for purposes of the excise tax on certain private university endowments (Form 4720). Tracks the components of NII across the investment portfolio.
• Maintains and updates the tax basis of all investments across the portfolio, tracking capital contributions, distributions, and adjustments.
• Serves as the University’s primary point of contact with external fund managers, fund administrators, and tax advisors for gathering and analyzing tax data.
• Works with the University’s custodian bank on tax reporting for daily valued investments.
• Captures key information for new investments, including entity treatment for U.S. tax purposes, domicile, and tax reporting provided by the fund, to ensure accurate and comprehensive tax reporting.
• Prepares international informational filings related to the investment portfolio, including Forms 5471, 8865, 8858, 926, and 8621. Conducts Subpart F income and GILTI calculations.
• Prepares schedules, workpapers, and supporting documentation that feed into the Form 990-T. Works with the Tax Manager and external tax preparers during the filing process.
• Works alongside the Investment Office team day-to-day to understand portfolio activity, new fund commitments, dispositions, and other transactions with tax implications.
• Prepares miscellaneous state income and franchise tax returns arising from the University’s investment activities, including returns triggered by fund allocations of state-source income.
• Assists with other investment-related tax compliance as assigned.
• Keeps up with changes in tax law affecting tax-exempt organizations, partnership taxation, and international taxation.
• Participates in special projects as requested by management.
• Performs a variety of operating or cost accounting activities which require moderate knowledge of accounting theories and principles.
• Interprets accounting records for the purpose of determining gains and losses, receipts and disbursements, and inventory.
• Performs other related work as needed.

Education

Minimum requirements include a college or university degree in related field.

Work Experience

Minimum requirements include knowledge and skills developed through 2-5 years of work experience in a related job discipline.

Preferred Qualifications

Education

• Master’s degree in accounting (MSA), taxation (MST), or MBA with a concentration in accounting.

Experience

• At least two years of professional experience in tax compliance, public accounting, or in an in-house tax department.
• Previous work in a university, endowment, or institutional investment environment.
• Partnership tax and/or international tax experience is strongly preferred.

Certifications

• CPA or CPA-eligible; Enrolled Agent (EA) also valued.

Technical Skills Or Knowledge

• Exposure to alternative investments and endowment-related tax matters.
• Understanding of alternative investments and K-1 analysis.
• Familiarity with UBTI concepts, Form 990-T, or Form 4720.
• Exposure to international informational filings (Forms 5471, 8865, 8858, 926, 8621) and Subpart F or GILTI calculations.
• Familiarity with UBTI rules, the siloing rules and related NOL tracking, and the NII excise tax.
• Understanding of tax software, including K-1 aggregation software.
• Strong proficiency with Excel.
• Comfortable reading and interpreting the Internal Revenue Code, Treasury Regulations, IRS form instructions, revenue rulings, and revenue procedures.

Application Documents

• Resume/CV (required)

The University of Chicago uses AI-assisted tools to streamline and augment some recruitment processes; however, AI is not used to make hiring decisions.

Job Family

Financial Management

Role Impact

Individual Contributor

Scheduled Weekly Hours

37.5

Drug Test Required

No

Health Screen Required

No

Motor Vehicle Record Inquiry Required

No

Pay Rate Type

Salary

FLSA Status

Exempt

Pay Range

$72,000.00 - $93,500.00

Benefits Eligible

Yes

The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook.

Posting Statement

The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the University's Notice of Nondiscrimination.

Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via Applicant Inquiry Form.

All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.

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