New York, NY

Controller, The Wallace Foundation

The Organization

The Wallace Foundation — an independent, national, New York-based philanthropy with $2 billion in assets – traces its origins back more than half a century to DeWitt and Lila Acheson Wallace, founders of The Reader’s Digest Association. Our mission is to foster equity and improvements in learning and enrichment for young people, and in the arts for everyone.

For more information about The Wallace Foundation, please visit

We have a team-based structure and seek employees who are both highly skilled in their professions and able to work collaboratively with others. As reflected in our Statement of Core Values, we value behavior that demonstrates a commitment to mutual respect and support, diversity, continuous learning, collaboration, excellence, and accountability.

The Wallace Foundation is an Equal Opportunity Employer, committed to maintaining a diverse workplace where differing perspectives are a source of strength.

The controller is a key contributor to the Foundation, responsible for the overall management of accounting, tax, grants, contracts, and payroll activities.  The controller continuously assesses and improves internal controls and workflows, ensuring the Foundation follows all applicable generally accepted accounting principles and other regulatory requirements.

The work of the controller is very detail oriented and requires flexibility, effective time-management, precision, patience, and discretion.

The position reports to the CFO and supervises a Senior Accountant, Accountant, and two Grants Associates, all of whom are members of the Finance and Operations team.


The following include, but are not limited, to:

Accounting & Tax

·         Maintain the Foundation’s general ledger in compliance with appropriate generally accepted accounting principles.  Supervise day-to-day accounting functions ensuring timely and accurate recording of assets and liabilities.  Review and approve accounts payable and receivable transactions, general journal entries, and monthly bank reconciliations.

·         Oversee investment accounting activities including reviewing market value analyses and subledger reconciliations.

·         Manage the preparation of the Foundation’s 990-PF, 990T, and multiple state and federal filings.

·         Oversee the annual financial audit and assist CFO in preparing board and audit committee materials and presentations.

Grants and Contracts Administration

·         Manage an effective and efficient contract and grantmaking process with an eye towards improving and streamlining workflows and procedures.

·         Work closely with staff across the Foundation and the legal counsel on all facets of grantmaking, including reviewing scopes of work and budgets, drafting grant and contract agreements, and conducting organizational due diligence to ensure compliance with Foundation policies and non-profit laws.

·         Manage grant and contract payment processes ensuring proper support and approvals are in place.

·         Support program staff in monitoring grant deliverables to completion.

·         Oversee training and support to grantees and contractors on the use of GMS to facilitate electronic submission of deliverables, claims or invoices, and banking information.

·         Oversee the management of the Foundation’s grants and contracts database (GMS/Smart Simple) to ensure data integrity and provide various datasets and analyses to support decision making and internal and external reporting.  Serve as primary contact with system consultant (Smart Simple)


·         Oversee the timely processing of semi-monthly payrolls, ensuring that all compensation, benefits, voluntary deductions, and tax withholdings are accurate and consistent with Foundation policies and governing authorities.

·         Ensure quarterly tax filings and year-end W2 processing are completed by payroll provider.

Financial Reporting

·         Prepare and analyze monthly and year-end financial statements and contribute to the development of the annual budget.

·         Assist in estimating payout targets, qualifying distributions, and cash flow to ensure the Foundation meets its obligations and maintains its Private Foundation status.

·         Support the CFO in preparation of materials for Board and Audit Committee meetings.



·         Seasoned professional with ten or more years’ experience in financial management; preferred experience in/knowledge of the non-profit sector

·         Bachelor’s degree in accounting required; CPA or master’s strongly preferred

·         Three – five years’ experience drafting and managing contracts

·         Proficiency using accounting and customer relationship management systems

·         Strong project management, interpersonal, and communication skills: listening, writing, speaking

·         Exceptional attention to detail and accuracy with advanced analytical skills

·         Commitment to accountability and transparency, and delivering high quality customer service



Salary will be commensurate with knowledge, skills, and abilities.

A snapshot of our generous benefits package includes a choice of health insurance plans and a healthcare reimbursement account, 403(b) retirement plan with 15% employer contribution upon eligibility, and a community service matching gifts program recognizing employee volunteer hours with a financial contribution to a qualifying non-profit organization.

This position is considered an essential worker and must be willing to work in the office at least one day a week. Proof of full COVID-19 vaccination is required for employment.  When we move from working remotely to a hybrid working arrangement, this position will be required to work in the office at least three days a week.

How To Apply

To apply for this position, please submit a cover letter and resume to The foundation will consider each response carefully, but only contact those individuals it believes are most qualified for the position.

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