Foundations Financial Director
: Job Details :


Foundations Financial Director

Cox Enterprises

Location: Atlanta,GA, USA

Date: 2024-09-20T16:16:55Z

Job Description:

Cox Enterprises is a privately held communications and automotive services company with revenues of $21B. The Cox Foundations office oversees six independent, private foundations, including the company-affiliated foundation, The James M. Cox Foundation of Georgia, and five related family foundations, including the Trailsend Foundation, the J. C. Kennedy Foundation, the ACT Foundation, The SKK Foundation, and the Three Sibs Foundation. In addition, Foundation staff tracks and reports on giving from an endowed scholarship fund and three donor advised funds held at the Community Foundation for Greater Atlanta. All total, Cox Foundations' related assets amount to more than $1B.

Position Description:

The Foundations Financial Director is a highly responsible position reporting to the President of the Cox Foundations. The person in this position is primarily responsible for the day-to-day accounting, management of financial transactions and tax-related compliance for affiliated foundations with total giving in 2023 exceeding $60M. The position requires strong financial, budgeting, managerial skills and attention to detail and good judgment.

Specific Duties and Responsibilities:

1. Banking, Accounting & Investments

Performs accounting duties needed for preparation of quarterly/annual financial statements to inform the tax return (systems used currently include Quicken for the SKK Foundation and Archway for all other foundations).

Serves as primary liaison with banking/investment representatives, maintaining account records, processing payment of capital calls and receipt of distributions, and recording the activity with journal entries.

Updates and reconciles investment activity and market value on a monthly basis, tracking the impact to tax basis, and posts copies of needed banking and alternative investment statements and related K-1's for the tax preparer on the online portal.

Directs cash management/payment processes for grants and expenses from all foundation sources (includes check-writing, confirming wire instructions, initiating and confirming wire transfers).

Reconciles accounting systems with bank statements, master grants pay schedules and expenses schedules on an ongoing basis.

2. Distribution Planning & Pay Schedule Management

Coordinates with the tax preparer to update monthly average value calculations used to inform annual distribution planning and budgeting.

Maintains the master grants pay schedules/grants listing for each foundation, providing monthly reports to the president, and preparing projections and reports for Trustee meetings as appropriate.

Manages the expenses schedules for all foundations, providing monthly reports to the president.

3. Tax Compliance

Works with the tax preparer for preparation of 990s for all foundations.

Serves as primary liaison with the tax preparer for payment of quarterly tax payments due, entering them via the IRS payment portal and filing receipts.

Assists in preparation and proofing of extensions and tax returns, providing financial statements, grant schedules and expenditure responsibility statements, as well as updates on Trustees/Officers.

Files all state or federal tax-related correspondence and sees that any fees are paid.

4. Other Governance & Compliance

Files annual corporate registration for each foundation with Secretary of State(s).

Manages expenditure responsibility process, gathering required documentation and reports for tax purposes and seeking legal review when needed.

Prepares and files unanimous written consents and related documentation approving grants made outside of regular meetings, coordinating with legal advisors as needed.

Qualifications:

  • General: Must have ability to exercise discretion, have good judgement, work independently, take initiative, meet multiple and competing deadlines, participate as an effective team member, and follow tasks through to completion.

  • Experience: 10+ years accounting experience, preferably in private foundation/nonprofit settings.

  • Education: Bachelor's degree in Accounting required. C.P.A. or on C.P.A track preferred.

  • Technology skills : Experience using a computerized accounting system, solid knowledge of MS Office applications (Excel proficiency required).

  • Organizational skills: Excellent organizational skills and attention to detail. Able to prioritize work effectively and adjust to multiple demands.

  • Communication skills: Strong interpersonal, verbal and written skills.

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