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Assistant Controller for Endowment, Planned Giving and Restricted Accounts

Job Details

Wheaton is a leading private, coeducational, liberal arts college of 1800 students located in Norton, MA and within easy commuting distance of Boston and Providence.

Posting Details

Posting Details

Posting Number:


Position Title:

Assistant Controller for Endowment, Planned Giving and Restricted Accounts



Job Type:


Staff Term:

12 Months

Staff Work Schedule (hours/dates):

Monday-Friday 8:30am-4:30pm

Academic Year Schedule (dates):

Faculty Term:

Position Type:



Accounting Services

Job Summary/Basic Function:

Reporting to the Controller, the Assistant Controller is responsible for monthly, quarterly and annual accounting related to the college’s endowment, planned giving and restricted accounts, financial modeling for the college’s restricted fund activities including the annual endowment distribution, review of compliance with donor/grant restrictions, quarterly financial reporting and responding to responsible account manager questions, recommending appropriate action on a wide variety of questions/issues related to endowments, restricted accounts, planned giving accounts/trusts, and other projects as assigned.

The position is also responsible for evaluating, researching, recommending and executing appropriate accounting for restricted gifts and pledges, endowment, government and private grants, and planned giving accounting treatment in accordance with GAAP, GAAS and UPMIFA, including but not limited to review of restricted account agreements, assessing and auditing restricted accounts, preparing data for the endowment/investment footnotes in the annual financial statements, preparing and reviewing journal entries, preparing schedules for endowment distribution account holders, preparing restricted fund reports for internal & external stakeholders, monthly investment reconciliations, and performing or reviewing complex account reconciliations. This position has oversight and administrative responsibilities of the Banner endowment system.


  • Responsible for investment accounting with a specific focus on the improvement of investment transaction processing, reporting and internal controls.
  • Prepare monthly consolidated investment activity and endowment spreadsheets detailing gift activity, income distribution, and investment activity at both cost and market. Prepare related journal entries to record activity in the general ledger.
  • Prepare market value reporting on a monthly basis and reconcile quarterly to the investment advisor reporting. Maintain contact with investment managers and advisor to gather monthly information.
  • Collaborate with the Executive Administrative Assistant for the VP for Finance and Administration ( VPFA ) and President’s Office to maintain the Board of Trustees Investment Committee portal, which contains meeting materials and performance data.
  • Attend Investment Committee meetings to draft Investment Committee minutes.
  • Provide support with the preparation and review of materials for the Investment Committee meetings.
  • Reviews gift agreements and planned giving instruments to determine appropriate classification and set up new restricted fund account in Banner.
  • Document the initial and ongoing due diligence performed on the endowment’s investments by the investment advisor and Finance staff.
  • Prepare year end workpapers for contributions and investments, including managing the confirmation process with the auditors.
  • Compute and summarize investment fee expenses for auditors and reporting to investment committee.
  • Administer the Endowment module of BANNER, and provide spreadsheet reporting for monitoring of the college’s endowment and underwater activity by fund and in total. Includes quarterly unitization.
  • Prepare Annual Endowment Spending Draw forecasting & analysis and Banner posting.
  • Provide support to the VPFA and Investment Committee as needed for ad hoc reporting and analysis.
  • Prepare the annual submission for the NACUBO - TIAA Study of Endowments.
  • Provide support to the Controller and Director of Budget and Financial Planning for endowment distribution and spending forecasting needs.
  • Prepare quarterly reporting for endowment transfer to/from operations with endowment cash summary reporting.
  • Prepare monthly gift workpapers and reconcile to Advancement reporting.
  • Prepare pledge journal entries on a quarterly basis to record activity to general ledger.
  • Prepare necessary endowment and restricted gift reports on a fund by fund basis for Advancement stewardship needs.
  • Perform valuations of all stock gifts received by the college and reconcile the brokerage account on a monthly basis. Prepare journal entries for stock gift gains/losses accordingly.
  • Prepare and post quarterly restricted fund release entry.
  • Reconcile all planned giving trusts, pooled income fund, gift annuity, charitable remainder trusts, and perpetual trust funds accounts and investment statements. Prepare quarterly entries these planned giving trust funds, including entries for new trusts and trusts fund distributions.
  • State filing/reporting requirements for the Charitable Gift Annuity Program in compliance with relevant State Insurance Department regulations.
  • Support post award grant activities.
  • Prepare quarterly grant accrual entries, invoices, and drawdown request.
  • Assist in the quarterly and year-end closings and the financial statement audit.
  • Prepare restricted fund reporting for key stakeholders.
  • Prepare quarterly fund use review to ensure use of expendable funds is in line with donor intent.
  • Collaborate with the F&A Offices and perform priority account functions, research and other initiatives.
  • Contribute to year end closing and preparation for the annual audit and other audits (e.g., Internal Audit).
  • Perform other essential duties and tasks as assigned.
Minimum Qualifications:

Individuals must possess or be able to explain and demonstrate that the individual can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of skills and abilities.
  • Knowledge of and ability to apply Generally Accepted Accounting Principles ( GAAP ) and Uniform Prudent Management of Institutional Funds Act ( UPMIFA ), particularly those accounting and endowment stewardship principles used by colleges and universities.
  • Knowledge of advanced accounting practices, including accounting for endowment funds, investments, government and private grants, and planned giving trusts/instruments.
  • Advanced Microsoft Excel skills, particularly important skills include: prior experience working with large worksheets with complex formulas, pivot tables and graphing.
  • Strong written, oral, interpersonal and collaboration skills.
  • Critical thinking and problem-solving skills and ability to manage multiple deadlines and initiatives and work accurately and independently to meet deadlines.
  • Bachelor’s Degree in Accounting.
  • A minimum of five years related experience in accounting or an equivalent combination of education and experience is required.
Preferred Qualifications:
  • CPA designation preferred.
  • Previous experience in an accounting office of a college or university preferred.
  • Knowledge of Banner Finance and Endowment systems preferred.
Compensation and Benefits

To attract and retain the most talented individuals, Wheaton College maintains a flexible and competitive staff compensation and benefits program.

When determining and establishing hiring rates or recruitment ranges for a position, the College considers a number of factors including the budget for the position, the range of the grade, the external market for the position or similar positions, level and scope of responsibilities, required education, skills and relevant experience as well as internal equity. All salary offers must have the prior approval of the Office of Human Resources.

The salary for this position will be commensurate with the qualifications, education and experience.

Physical Demands

ADA Statement:

Individuals must possess these knowledges, skills and abilities or be able to explain and demonstrate that the individual can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of skills and abilities.

Eeo Statement

Wheaton College is an equal opportunity/affirmative action employer and does not discriminate against any individual or group on the basis of gender, sexual orientation, gender identity or expression, age, race, color, religion, national origin, veteran status, genetic information, or disability. In a continuing effort to maintain and enrich an intellectually diverse learning environment, the Department and the College actively encourages applications from women and members of underrepresented groups.

Wheaton’s core belief is that valuing diversity is pivotal to personal development, intellectual expansion, and societal equity. Our community is united by a shared dedication to equity and access that is essential to providing a transformative education in the Liberal Arts and Sciences.

Posting Date:


Closing Date:

Open Until Filled



Office of Human Resources

Contact Phone/Extension:


Contact Email:

Contact Fax

Special Instructions to Candidates:

The federal government and the state of Massachusetts have made the decision to end the COVID -19 public health emergency. Effective June 1, 2023, the college will no longer require COVID -19 vaccinations and boosters for members of our community. Rather, we strongly recommend that everyone stay up to date on their vaccinations, including boosters, as recommended by their health care provider.

While we will no longer require COVID -19 vaccinations, we strongly encourage members of our campus community to adhere to public health recommendations for vaccination to protect against COVID -19, as well as influenza and other diseases.

Supplemental Questions

Required fields are indicated with an asterisk (*).

Optional & Required Documents
Required Documents
  1. Cover Letter
  2. List of References
  3. Resume
Optional Documents


Wheaton College of Massachusetts.

Founded in 1834 in Norton, Massachusetts, Wheaton College is among New England's premier private liberal arts and sciences colleges.

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