One CPA's Balancing Act
Simply put, Marc Feldman, CPA, is a
problem solver. That kind of skill comes
in handy as he performs a daily analysis
of upcoming cash inflows and outflows and works to resolve any issues related
to contracts or other topics as the chief financial officer of Helen Keller Services (HKS) in Brooklyn.
Feldman, who has been CFO of the organization since 2010, explains that “complexity is a constant” on the job, especially if “mission execution seems to be in conflict with the sustainability of funding for operations.” Helen Keller Services offers services to blind children and adults in New York City and Long Island and runs a preschool. It also works closely with its Helen Keller National Center for Deaf-Blind Youths and Adults division on Long Island. As he explains, “the unusual has been the usual in my work at HKS, particularly with a small group of senior staff covering everything that comes up.”
Feldman makes sure employees understand that budgets are not to just be thought of in “budget season” alone. “There is truth in the adage often used in the not-for-profit world of ‘no margin, no mission.’ My role is to bring a consistent business perspective to the everyday and strategic management process, simultaneously encouraging program managers to think along those lines in the same way
as I learn to support and prioritize
mission initiatives.”
A key example of this balancing act is when he and other senior executives at Helen Keller had to convince the board to sell the downtown Brooklyn headquarters building it had owned for 65 years. It involved selecting a broker, finding a buyer willing to lease the building back for a short but flexible period while HKS pursued leasing and building a new similarly well-located facility. “This was as complex an endeavor as anything I had been involved with in the private sector,” he adds.
Due to Feldman’s previous working experience as CFO at the Dyson-
Kissner-Moran Corporation (DKM)
in New York, and more specifically as
treasurer of the Dyson Foundation, a
private, family-directed grant-making
foundation in Millbrook, New York,
Feldman was comfortable working at
Helen Keller and on real estate projects, in particular. “I could produce the due diligence information, negotiate a lease for the new space and take into account the complexities of consumers who need to
be close to the many public transportation options in downtown Brooklyn,” he explained. “Beyond the fantastic new
space our team designed, I had the
opportunity to improve the finances of
the organization by selling that building
for well over $50 million in 2016 when it was on the books for $1 million.”
While it can be busy, it’s not all work
for the CFO. “I love the mission. I enjoy the work and seeing clients every day.
The preschool used to be on a different floor, and now I see those kids coming
and going every day,” he says.
From Auditor to CFO
A CPA since age 24, Feldman realized early on he wanted to not only look at numbers but go into the “deal-making” side of business as well, which is why he was so eager about revitalizing Helen Keller Services. After graduating from the University of Michigan, he went to graduate school at Columbia and obtained his MBA in finance. “I found so many finance people did not understand accounting, and those trained in accounting did not understand finance,” he says. “It’s all about building up your skillset and being flexible,” admits Feldman, who rose to CFO at DKM from treasurer and vice president of planning and analysis, where he sold many of its real estate investments.
Raised in Belleville, New Jersey,
Feldman previously served as CFO at
Biopharmaceutics, Inc., and as assistant vice president of finance at Del Laboratories. He began his career as a supervising audit senior at EY in Newark.