The Company
Industry: Life Sciences
Entity Type: Non-Profit
Operating Region: California
Size: $50M
The PROBLEM
The organization lacked structure and rigor around accounting, reporting, and policies. The team required fundamental financial improvements, including accurate financial statements, internal controls, and a proper month-end closing process. They needed an interim Controller to produce monthly financial statements, act as a liaison with auditors, and ensure timely and accurate reporting of grants and expenses.
The Solution
McDermott + Bull Interim Leaders placed an experienced financial leader with over 12 years of experience consulting for and working with non-profit organizations. The leader specialized in GAAP accounting, budgeting, forecasting, and audit coordination, bringing operational efficiency and structure to the organization.
The RESULT
The interim Controller focused on general ledger validation, financial reporting, and bringing all credit card reconciliations up to date. They were also responsible for upskilling the accounting team, particularly in SEFA reconciliations and long-term investment management.
Financial System Optimization
Streamlined payables, corrected 1099 issues, created financial statement templates, and performed bank and investment reconciliations.
Investment Oversight and Compliance
Successfully managed investment activities, ensuring compliance with audit requirements, year-end processes, and internal controls.
Cost Reduction + Efficiency Gains
Consistently met all deadlines and supported the transition of investment initiatives in-house, reducing operating costs and eliminating the need for an external consultant.
Mark McConnell
Senior Managing Director, McDermott + Bull Interim Leaders
mcconnell@mbexec.com
Mark McConnell serves as a Senior Managing Director at 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.