Controller

About Us

The mission, duty, and purpose of the KCT is to utilize collective ownership to direct investments on the corridor that preserve culture and affordability while building neighborhood power and wealth in Kensington. Activities focus on restoring cleanliness and safety, attracting and accelerating the growth of businesses that provide goods and services that meet local needs, and increasing job opportunities. The Trust's programming is underpinned by strategic property acquisition, development, and activation. The KCT's vision is for Kensington Avenue to be a safe, healthy, and socioeconomically diverse commercial corridor with accessible opportunities for existing and future residents of Kensington.

The KCT fosters the equitable economic revitalization of a commercial corridor and its surrounding neighborhood through local partnerships, strategic programming, and an innovative approach to moving real estate assets out of the speculative private market. Leveraging patient, flexible capital and a long-term trust vehicle, the KCT de-commodifies real estate assets and transitions them to neighborhood control. This pioneering model of neighborhood ownership, governance, and local economic development has the potential to keep control within the neighborhood and ensure long-term affordability. The KCT introduces neighborhood-based property control for long-term, equitable revitalization of a key commercial corridor.

Job Summary

The KCT is seeking an experienced Controller to join our small, yet effective team. The Controller will own the organization's full financial function, spanning day-to-day accounting operations, financial reporting, and real estate financial modeling that underpins the Trust's growing portfolio. The Trust currently stewards 32 properties, with additional properties acquired every year, and the Controller will be responsible for the financial management of each property individually and the portfolio as a whole.

The KCT operates with a diversified revenue stream that includes grants, individual donations, program-related investments, loans, rental revenue, earned revenue (honorariums and technical assistance fees), and interest revenue, and receives both restricted and unrestricted funding. The Controller must be fluent in both nonprofit accounting and real estate finance and will maintain the organization's books on an accrual basis in accordance with Generally Accepted Accounting Principles (GAAP). This role requires a rare combination of hands-on bookkeeping discipline, controller-level rigor, and strategic financial analysis. The ideal candidate is equally comfortable reconciling accounts, processing payroll, preparing for an audit, and building a multi-year pro forma for a mixed-use property.

The Controller reports to the Executive Director and works closely with the full team, the Board of Directors, external CPAs, and funders to ensure the Trust's financial health, transparency, and accountability to the neighborhood that governs it.

Duties & Responsibilities

• Accounting Operations:
  • Perform and oversee all routine accounting operations on an accrual basis in accordance with GAAP, including the general ledger, journal entries, and month-end and year-end close.
  • Process accounts payable and bill payments, ensuring accurate coding to the appropriate entity, property, program, and funding source, and timely fulfillment of financial obligations.
  • Process payroll and maintain related documentation, including payroll changes, benefits deductions, and required filings.
  • Perform monthly reconciliations of all bank, credit card, loan, and balance sheet accounts, and maintain accurate, audit-ready records.
  • Manage accounts receivable, including invoicing and collection of rental revenue, technical assistance fees, honorariums, and other earned revenue.
  • Maintain and refine internal controls, financial policies, and accounting procedures as the organization and its portfolio grow.
• Financial Reporting, Budgeting & Cash Management:
  • Manage organizational revenue and expenses across all revenue streams, including grants, individual donations, program-related investments, loans, rental revenue, earned revenue, and interest revenue.
  • Monitor and manage cash flow across accounts and entities, and prepare cash flow projections to inform organizational decision-making.
  • Prepare monthly, quarterly, and annual financial statements and reports for the Executive Director, Board of Directors, and funders.
  • Lead the development of the annual operating budget in partnership with the Finance Committee and Executive Director, and track performance against budget throughout the year.
  • Develop multi-year financial projections that reflect the Trust's acquisition pipeline, debt obligations, and programmatic growth.
• Real Estate Finance & Property-Level Management:
  • Develop and maintain all real estate pro formas at both the individual property level and portfolio-wide to support acquisitions, development projects, refinancings, and long-term stewardship planning.
  • Manage all property-level expenses across the Trust's portfolio (currently 32 properties, with additional properties acquired each year), including operating expenses, capital expenditures, taxes, insurance, and utilities.
  • Track property-level and portfolio-wide revenue and expenses, including rental revenue, vacancy, and collections, and report on property and portfolio performance.
  • Support underwriting for new acquisitions and development projects, including modeling debt service, operating assumptions, and sources and uses.
  • Onboard newly acquired properties into the accounting system and financial reporting structure.
• Grant & Fund Accounting:
  • Track all grant funding, both revenue and expenses, and book expenses against the appropriate project-specific funds.
  • Maintain accurate accounting for restricted and unrestricted funds, including tracking releases from restrictions in accordance with GAAP.
  • Prepare financial reports and budgets for grant proposals and grant reporting in partnership with the fundraising team.
  • Track program-related investments and loans, including repayment schedules, interest accruals, and covenant compliance.
• Audit & Compliance:
  • Manage the annual financial audit in partnership with the organization's external third-party CPA firm, including preparation of schedules, reconciliations, and supporting documentation.
  • Manage the annual insurance audits, including preparation of payroll, property, and operational documentation.
  • Support the preparation and review of the Form 990 and other federal, state, and local filings with the external CPA.
  • Ensure compliance with funder requirements, loan covenants, and applicable regulations, and maintain organized documentation for all of the above.

Qualifications and Requirements

The Controller will be thoroughly committed to the KCT's mission. The KCT is a supportive work environment for those looking to grow personally and professionally.

Required:

• A minimum of 7 years of progressive accounting and finance experience, with significant experience in both nonprofit and real estate finance.
• Deep knowledge of nonprofit bookkeeping and fund accounting, including restricted and unrestricted funding, grant tracking, and functional expense allocation.
• Deep knowledge of real estate bookkeeping and finance, including property-level accounting, operating statements, and debt structures.
• Demonstrated experience building and maintaining real estate pro formas at the property and portfolio level.
• Strong command of GAAP and accrual-basis accounting.
• Hands-on experience processing payroll, accounts payable, and account reconciliations.
• Experience managing annual financial audits with an external CPA firm.
• Advanced spreadsheet and financial modeling skills.
• Exceptional attention to detail, organization, and follow-through.
• Excellent communication and interpersonal skills, including the ability to translate complex financial information for staff, board members, and community stakeholders.
• Proven ability to solve problems creatively.
• Strong interpersonal skills and extremely resourceful.

Preferred:

• Degree in accounting, finance, or a related field.
• Experience with community development finance, including program-related investments, CDFIs, or other mission-driven capital.
• Experience with multi-entity accounting structures.
• Special interest in collective ownership development and asset stewardship for collectively held assets.
• A resident of Kensington, Philadelphia.
• English and Spanish verbal and writing skills preferred.
• Ability to effectively utilize job-related software, including, but not limited to, QuickBooks or comparable accounting software, Microsoft Office Suite (especially Excel), payroll platforms, and the internet, to prepare reports, write correspondence, schedule meetings/events, and e-mail.

Terms

Location: Kensington, Philadelphia, PA

Employment: Full-Time (40+ hours/week)

Reports to: Executive Director

Equal Opportunity Employer

The Kensington Corridor Trust is committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants and teammates. We do not and will not discriminate on the basis of race, color, religion, sex, pregnancy, and adoption (including childbirth, lactation, and related medical conditions), origins (national or ancestral), age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by applicable law. The Kensington Corridor Trust believes that diversity and inclusion among our teammates are critical to our success, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool.

The Kensington Corridor Trust is an equal opportunity employer and will not discriminate in employment, recruitment, compensation, termination, promotions, membership, or other conditions of employment as they apply on the basis expressed in the nondiscrimination policy, or any other form of discrimination.

• Individual Coverage Health Reimbursement Arrangement (ICHRA)
• Flexible PTO Policy
• 401k Match
• Life Insurance
• Professional Development Budget

English and Spanish verbal and writing skills preferred.