Huge congratulations to Crisis Assistance Ministry’s Chief Financial Officer Tim Ryan, who was just named CFO of the Year for nonprofit organizations according to the Charlotte Business Journal!
This signature awards program recognizes financial executives who provide insights to help guide companies through challenges and help leadership teams make crucial decisions.
In their article celebrating CFOs in seven categories, the Journal noted: “For Crisis Assistance Ministry, a nonprofit that provides assistance and advocacy for people experiencing financial hardship, one such challenge has been keeping families housed during the pandemic. When the agency was faced with clients at risk of eviction and hotels accepting only credit card payments, its chief financial officer devised a virtual card option to keep room rates paid.“
Here’s what he had to share in the Charlotte Business Journal’s spotlight:
Winner: Nonprofit/Government Organization
Brief description of organization: Crisis Assistance Ministry provides help, hope, and understanding to people struggling with limited financial resources. We prevent eviction and utility disconnection with emergency rent and utility assistance; help meet basic needs with clothing, household goods, and essential furniture and appliances; lead people to economic mobility through financial coaching and counseling; and educate the community about the complexities and challenges of poverty.
Your responsibilities: Leading the business and financial operations for the nonprofit agency, overseeing a $20 million budget and in excess of $13 million in financial transactions yearly.
Year started at organization: 2016
Number of employees: 60
Unique challenge of the past year: In mid-March, our agency was asked to help people living in hotels, who were at risk of being evicted, remain housed during the pandemic. The hotels were only accepting credit card payments to stop the evictions, versus the check/ACH method typically used with landlords, and the demand outpaced our agency’s corporate credit card limits. I was able to locate and fund a virtual card option, which allowed for daily credit card numbers to be created to pay hotel charges. These efforts kept over 1,400 families housed and safe.
Advice to an aspiring CFO: Look for an industry you have a passion for and work on all the skills that are required for you to be a successful leader. Your technical skills and work experience may get you the interview and the title of CFO but having the necessary soft skills and the right attitude will be critical for you to be a well-rounded and respected CFO and the leader that others will want to follow.
Who or what made you successful? I can say that without the guiding light, love, and support of my older sister, Colleen, I would not be the person I am today.