What if you landed a CFO role only to then learn that your organization was in the red? Join us as James recounts the steps he took to achieve the financial turnaround of GuideStar, a not-for-profit organization that provides information and transparency on the programs and finances of more than 1.8 million IRS-recognized nonprofits.

Finance Philosophy

“Some people think of finance as a grow, grow, grow paradigm … other people view finance as a containment paradigm (let’s control expenses and be more efficient!), I think it’’s important that a CFO views both of these simultaneously. If I was to talk about my philosophy of finance, I think that the best analogy might in Taoism, where, in the natural state of nature, things are in harmony, and the nested circles of yin and yang reflect that balance.”

Key Metrics

“We’re not about earnings. We’re a not-for-profit, so we’re about having an impact for our stakeholders. … Operating cash is still something that we watch very closely. Until we have a bigger working capital reserve, I’ll be watching operating cash. I really like ROI because it factors in revenue, cost, and most importantly time — which everyone often overlooks.”

Mentoring Round

“The most important thing is to recognize the importance of people. I probably spend only 10 percent of my time working with spreadsheets and looking at financial statements. The other 90 percent of my time is spent with sales and marketing and product development and speaking with people and talking their language.”