The Company
Industry: Healthcare + Social Services
Entity Type: Non-Profit
Operating Region: East Coast
Size: $75M
The PROBLEM
The organization was experiencing significant financial challenges, with a critical enterprise division down by nearly a third and its CFO preparing to leave. The non-profit needed an interim CFO to lead overall fiscal planning, focusing on reversing trends, making forward progress, and overseeing core revenue cycle processes.
The Solution
The interim leader was an operationally oriented finance executive with experience creating strategic financial plans, administering multi-million-dollar budgets, and allocating resources to achieve organizational goals. Leveraging their expertise, the interim CFO identified areas for improvement and implemented changes to streamline processes, particularly focusing on cash flow to optimize financial operations.
The RESULT
Prior to the interim leader’s arrival, the organization had been in a deficit for the past two years. The interim CFO ensured sustained organizational progress by establishing an accurate revenue and reporting system, preparing timely financial statements, and empowering the Controller. Additionally, they adjusted the management of the organization’s revenue and expenses, supported field operations, ensured congruency with strategic plans, and met compliance requirements.
Monthly Financial Reporting
Aligned metrics with financials and conducted fiscal projections and budgeting to monitor performance, identify trends, and plan effectively.
Staff Training
Trained staff on process improvements, optimizing current operations and building capacity for sustainable growth.
Financial Stability
Implemented systems to reverse financial deficits, ensuring the integrity of financial processes and supporting long-term stability.
Mark McConnell
Senior Managing Director, McDermott + Bull Interim Leaders
mcconnell@mbexec.com
Mark McConnell serves as Senior Managing Director for McDermott + Bull Interim Leaders, where he forges relationships with companies addressing transition, change, and transformation. He partners closely with clients who require on-demand consulting resources to bridge leadership gaps and propel their business forward. He has experience working with emerging and enterprise-level companies across numerous industries and has depth in functional areas such as finance, accounting, human resources, and operations.