Director of Construction Accounting

Foundation Communities is a local nonprofit organization focused on creating affordable housing and providing free on-site support services to families, veterans, seniors, and individuals with disabilities. With 28 communities across Austin and North Texas, we deliver an innovative model that helps residents and neighbors achieve educational success, financial stability, and healthier lifestyles. We are committed to improving the quality of life in the communities we serve through empowerment and opportunity.

The Director of Accounting – Construction and Tax Credits (DACTC) will report directly to Chief Financial Officer (CFO). The Director of Accounting – Construction and Tax Credits should be experienced in all aspects of financial and tax management, including non-profit, partnership and corporate accounting, regulatory and financial reporting, budget and forecast preparation, as well as development of internal control policies and procedures.

They should have specific knowledge related to construction and low-income housing tax credits (LIHTC).

• Collaborate with the Real Estate Development team to review project budgets and manage development project cash flow, including timing of partnership contributions.
• Maintain the books for properties under construction and those in predevelopment
• Populate draw worksheets for properties in construction or pre‑development.
• Review accounts payable transactions for properties under construction.
• Recode pre‑development transactions as needed.
• Track construction‑related loans and maintain strong relationships with lenders and banks.
• Assist with refinancing opportunities.
• Manage property cash and lines of credit.
• Manage replacement reserves.

• Review drafts of Limited Partnership Agreements and loan documents, with attention to financial guarantees, risk exposure, and compliance requirements.
• Maintain relationships with tax credit partner asset managers and respond to underwriting inquiries.
• Assist with Limited Partner exits, including negotiations, capital account forecasting, and tax‑related matters for LIHTC and NMTC projects.
• Oversee 10% tests, cost certifications, and review all audits and tax returns for LIHTC and nonprofit group filings.
• Support the Property Accounting team with LIHTC audits and tax returns.
• Provide cost certification support.

• Prepare and submit periodic grant reporting (e.g., Capital Magnet Fund).
• Assist with capital grant applications, energy incentives, and other tax credit opportunities.
• Coordinate with Fundraising to track construction‑related grants.
• Maintain updated projections for internal reserves (Growth Fund) and coordinate with the Development team throughout project cycles.
• Prepare Growth Fund reports for the Board.
• Review monthly financials for properties under construction.
• Ensure quality control over financial transactions and financial reporting.
• Research technical accounting issues as needed.
• Develop and document business processes and accounting policies to strengthen internal controls.

• Assist the CFO with management of accounting operations.
• Cross‑train with other accounting directors to provide backup coverage.
• Communicate with vendors as needed.
• Perform additional duties as necessary.
• Review and manage property waterfalls.
• Maintain positive relationships with partners, lenders, and asset managers throughout project cycles.

• Experience in the construction industry required
• Familiarity with Low Income Housing Tax Credit (LIHTC) programs preferred
• Minimum of 7 years of combined accounting and finance experience
• Background in preparing and reviewing partnership, corporate, payroll, and non-profit audits and tax filings
• Strong understanding of accounting principles and procedures
• Proven experience preparing financial statements for a variety of legal entity types
• Proficiency with administering and managing accounting software systems
• Demonstrated experience supervising and leading accounting or finance teams
• Excellent verbal…