The Art Institute of Chicago, founded in 1879, is a world-renowned art museum housing one of the largest permanent collections in the United States. An encyclopedic museum, the Art Institute collects, preserves, and interprets works in every medium from all cultures and historical periods. With a collection of approximately 300,000 art works and artifacts, the museum has particularly strong holdings in Impressionist and Post-Impressionist painting, contemporary art, early 20th century European painting and sculpture, Japanese prints, and photography. The museum’s 2009 addition, the Modern Wing, features the latest in green museum technology and 264,000 square feet dedicated to modern and contemporary art, photography, architecture and design, and new museum education facilities. In addition to displaying its permanent collection, the Art Institute mounts more than 30 special exhibitions per year and features lectures, gallery tours, and special performances on a daily basis
Responsible for creating and processing monthly and year-end journal entries such as accruals, prepaids, allocations, fund movements (including net asset releases), and adjusting entries. Also responsible for account reconciliations, grant reporting/budgeting, exhibition accounting review, and supporting the day-to-day operations of the Museum Finance Department.
Prepare and process journal entries such as accruals, prepaids, net asset releases and adjusting entries for the Museum. Included in this is the review for proper chartfield combinations, balanced entries, and other edits. Obtain proper supporting documentation and signature approval(s). These entries should be timely, accurate, and comply with the financial policies of the Institute and follow standard processes.
Reconcile various general ledger accounts. Research discrepancies by working with the Museum, School, and/or Central to collect and analyze account information. Correct any errors by suggesting adjusting journal entries or suggesting system changes.
Prepare departmental financial reports, reimbursement requests, and draw-down of funds in strict adherence with funder requirements.
Assist in the year-end audit. Responsibilities include, but not limited to, preparing audit schedules relating to balance sheet accounts and assisting the auditors in their inquiries.
Ensure all grants, contracts, and sub-grants are in compliance with funder requirements and internal policies and procedures.
Assist in the tracking of revenues and expenses related to the corporate, foundation, and individual grants awarded to the AIC. Also, assist with the preparation of budgets for the original grant proposals. Monitor applicable federal regulations for changes and updates to grants.
Assist with the preparation of financial reports in accordance with grant and fund requirements while maintaining proper accounting treatment.
Perform other accounting, financial, or administrative tasks as may be required from time to time – quite often on short notice - for the Vice President of Museum Finance.
Monitor art purchases to ensure that all procedures and restrictions are met.
Provide support in the preparation and tracking of exhibition/program budgets and activity. Provide financial evaluation of expenses to exhibition/program managers.
Review Museum PCard activity.
Assist fixed asset personnel in the proper recording of the Museum’s new purchases, disposals, and leases (operating/capital, lessee/lessor). This includes, but is not limited to, determining whether a purchase should be capitalized or expensed, obtaining the proper management authorizations, and documenting the rationale for the accounting treatment.
Assist supervisor in streamlining processes and in developing best practice procedures.
On a monthly basis, ensure that your back-up is informed about changes made to your areas of responsibility.
Bachelor’s degree required in Accounting. Minimum of 5-7 years overall experience. Non-profit experience a plus.
Must be able to work independently.
Must be detail-oriented, organized, and proficient with Excel. PeopleSoft , Raiser’s Edge, and familiarity with online financial reporting preferred.
Ability to work cooperatively and collaboratively with all levels of employees and management.
Sensitivity to confidential matters is a must.
The Art Institute of Chicago is an equal opportunity, equal access employer fully committed to achieving a diverse and inclusive workplace.
The Art Institute of Chicago is a world-renowned art museum housing one of the largest permanent collections in the United States. It is encyclopedic in nature with strong holdings across all media, all traditions and all ages. The Art Institute is particularly recognized for its extraordinary Impressionist, Modern, Contemporary and American collections, among other aspects of its holdings. In a...ddition to housing its permanent collection, it typically stages 35-40 special exhibitions a year. In 2014, it was named by Trip Advisor travelers as the number one museum in the world, a remarkable recognition that speaks not only to the quality of the collection but to the entirety of the visitor experience.
The Art Institute welcomes between 1,400,000 and 1,800,000 visitors a year and has a membership of 100,000. The museum has an annual operating budget of approximately $110 million.
Founded in 1879, the Art Institute grew with the success of Chicago and quickly attained world class stature given the strength of its collection. The Art Institute has expanded several times in its history, most recently and notably with the opening in 2009 of the 264,000 square foot Modern Wing designed by internationally acclaimed architect Renzo Piano. The addition has been critically important to the museum as it not only provided much needed gallery space, but also allowed the Art Institute to reorganize its galleries to present the collection in a more logical and accessible fashion. The new addition also includes one of the largest education facilities at any museum and this center has allowed the Art Institute to expand its already impressive array of offerings.