Testimonials

For-profit

For the past decade, leaders of businesses have chosen to work with teamCFO, finding incredible support and achieving real success.

I wanted to say thank you for your assistance in the due diligence and purchase negotiations that allowed us to reach the deal with Hillshire Brands. The intensity of the timeline, the unexpected and various stakeholders made this process incredibly difficult and stressful. You and your team, however, made the whole situation manageable. I particularly appreciated your calming voice of reason and reminder for me to keep perspective. Selling the company was a monumental decision and herculean task. Without your help through this process, we could not have achieved what I believe was a great outcome. To meet the due diligence requirements with a Fortune 500 company was a daunting task for a small business like ours. Between you and your team, we were able to meet all the demands of the process and negotiate a deal that is quite impressive within the industry. Again, could not have done it without your experience and guidance.
Anna KanGolden Island Jerky
We used teamCFO to help set up our accounting system for our new firm. They did a great job and we were very pleased with the results. The project ended up paying for itself with the time that we saved. I would recommend teamCFO to any firm that needed accounting expertise.
Dwight LiuChief Financial Officer Covington Capital Management, Inc.
For our business, teamCFO has been much more than outsourced accounting service. They are a part of my strategic planning team. I am grateful that I have someone like Laura Yamanaka who is intelligent, listens, and sometimes disagrees when my ideas do not seem fiscally intelligent. Yet at the same time she respects me enough not to interfere with the culture of my business. teamCFO, I am glad you are on my side.
Madelyn AlfanoPresident Maria’s Italian Kitchen
I want to personally thank you for assisting my company and steering us back to financial stability. I greatly appreciated your insight into financial issues that needed to be dealt with sooner rather than later. Thanks to your help, we enjoyed a profitable year last year, 2010, after a very disappointing year in 2009. I also want to commend your recruitment services in locating and placing our office/manager/bookkeeper. Cindy is such an asset to our company that she was “Employee of the Year” last year and was nominated for “Rookie Office Manager of the Year” by our national trade association, “Certified Contractors Network” of Washington, D.C. Carrie, teamCFO is a great source for sound and grounded financial advice. In addition, I feel like you are members of our team, and that makes a big difference!
Clark AdamsGeneral Manager Clark Adams Company
My business partner and I spent 4 long years with bookkeepers that didn’t understand our business. We made a lot of mistakes the hard way until we found teamCFO. Their attention to detail gives us the peace of mind we need to focus on other areas of our business that need our attention to grow. They’ve put processes and procedures in place that provides great structure for us and our staff and they have gone over and above to insure our success. We consider teamCFO part of the family now at Twig & Willow and can’t imagine our business running without them.
Karen QuimbyOwner Twig & Willow
Over a year ago we were in dire need of a professional organization to take charge of our finance, bookkeeping and controller activities on a part time basis. We had up to that point used single operators to handle these activities but as we grew and the complexities within our business changed these single operators were not equipped with the necessary skills to adequately handle our requirements. Now we fast forward over a year to where we are and I will say without any hesitation a large part of our success this year has been as a result of the work that teamCFO has done for us. Not only do we have a completely proactive accounting system in place where we are tracking our progress on a daily basis, but we have an efficient system where we have been able to use numbers to our advantage. A critical component of Third Wave’s core team, we are looking forward to years of continuing to work together with teamCFO.
Third Wave Technology Services, Inc.
Veneklasen Associates has been utilizing the services of teamCFO for two years with their engagement ranging from a complete review and overhaul of our administrative accounting process to CFO oversight of our day to day and year-end financial reporting to the stockholders. From the onset of teamCFO becoming involved in our systems review, it was evident that their expertise was going to be a major factor in VA achieving our goals. Not only did they provide expert guidance, but they were also instrumental in assisting us with finding and placing new employees that fit our areas of need. I am confident in saying that without the help of teamCFO, VA would not have been able to complete this process while continuing to operate a fully engaged consulting business at a record level of billing. I will always be grateful for teamCFO’s assistance in helping us get through a very tough couple of years as we turned over our entire administrative/accounting staff and started anew.
Robert V. RobeyManaging Principal Veneklasen Associates
Shortly after starting Naked Princess, I engaged teamCFO to set up and oversee my financial and accounting operations. This allowed me to focus my energy on my areas of expertise- product development and design, and still have confidence in my accounting department. Since then, my company has evolved with many changes and teamCFO continues to provide the flexibility to expand or contract their services based on my business needs. With teamCFO, I know I have accounting experts to partner with and who is working on my business goals with me.
Jordana GoguenPresident & CEO Naked Princess Worldwide Inc.
Thought Convergence underwent a transition with senior members of its finance team. At the time, we were unsure of the future direction and management of the team. teamCFO came in, reviewed our financials/operations and were able to quickly help us close the year with better financial reports. They also brought some important accounting issues to our attention. teamCFO supported and trained the existing staff and ensured our finance operations were sound. Overall, teamCFO helped improve our financial reporting processes and allowed us time to make better business decision in managing this critical accounting personnel transition. The team assigned was professional, focused on the tasks at hand and produced results quickly.
Philip A. Reynolds, Esq.Chief Operating Officer Thought Convergence, Inc.
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Nonprofit

For the two past decades, leaders of nonprofit organizations have selected teamCFO, finding incredible support and achieving real success.

Here are what they are saying:

teamCFO far exceeds my expectations in customer service, knowledge and expertise in financial and accounting matters as well as correlated business matters. From the beginning of our relationship, their professionalism was undisputed. Without reserve, I would recommend teamCFO to any company looking for peace of mind on financial and other business matters.
Cyndi McAuleyExecutive Director Therapeutic Living Centers for the Blind
When our Controller resigned, we did not want to rush into hiring a replacement. Instead we brought in Carrie Hidding and her team from teamCFO as the interim Controller. Shortly after they started, they identified numerous operational issues and addressed them in order to strengthen and improve the accounting operations. During this time, teamCFO helped us determine the staffing model- hired and trained new staff, improved routine accounting procedures and documentation to facilitate quicker grant and financial audits, updated and implemented cost allocation plan and revised the chart of accounts to record transactions in a more logical manner to facilitate better reporting. In addition, I was able to rely on their business and nonprofit expertise in matters outside accounting. I have found a strong partner in Carrie and would recommend her and teamCFO anytime.
Christine-Mirasy GlascoExecutive Director Upward Bound House
teamCFO far exceeds my expectations in customer service, knowledge and expertise in financial and accounting matters as well as correlated business matters. From the beginning of our relationship, their professionalism was undisputed. Without reserve, I would recommend teamCFO to any company looking for peace of mind on financial and other business matters.
Virginia GomezPresident SCMSDC
When teamCFO came in to take over our accounting operations after our department head of 13 years had retired, Carrie and her team rolled up their sleeves and got busy right away. Their experience in operations and nonprofit accounting provided a smooth transition. They improved our systems and processes, assisted in selecting and training a qualified replacement and got us through the first financial audit without our reliable retired staff. “teamCFO is up for any challenge. They are thorough in analyses and efficient in solutions. We had a very positive experience working with Carrie and her team. I also want to commend your recruitment services in locating and placing our office/manager/bookkeeper. Cindy is such an asset to our company that she was “Employee of the Year” last year and was nominated for “Rookie Office Manager of the Year” by our national trade association, “Certified Contractors Network” of Washington, D.C. Carrie, teamCFO is a great source for sound and grounded financial advice. In addition, I feel like you are members of our team, and that makes a big difference!
Karin HallExecutive Director Heal the Bay
teamCFO provided financial services for the Westside Children’s Center for approximately a nine month period during late 2012 and early 2013. teamCFO acted as the Interim Controller during a period when Westside Children’s Center (WCC) was without leadership in the Accounting Department. teamCFO helped solidify the department and provided invaluable direction and support for the independent audit that took place shortly after they came aboard, providing support for both the Finance Committee and the Audit Committee during this transition period. The leadership at Westside Children’s Center would highly recommend the services of teamCFO to any organization that is in transition and requires someone to step in and maintain continuity in their Accounting Department. We consider teamCFO part of the family now at Twig & Willow and can’t imagine our business running without them.
Richard KleinChief Financial Officer Westside Children’s Center
For the first time in our organization’s history, teamCFO created a comprehensive, easy-to-understand monthly financial package for our Board of Directors and staff. They also took the time to help our program managers better understand and manage their program costs. Needless to say, this is helping us to operate more efficiently and cost-effectively.
Julia MieleExecutive Director YWCA Santa Monica
New Directions like many other non-profits, reached a point when the original financial organization was no longer able to meet the challenges faced by the organization. After several false starts, New Directions turned to teamCFO and quickly Carrie Hidding was assigned as its interim CFO. New Directions got much more than an interim CFO – it got a valuable member of the management team whose skills were perfect for the situation. Carrie brought the great combination of someone who can both improve accounting organization as well as provide strategic financial direction. She provided an invaluable service to the Board of Directors during some difficult financial times, meeting with its members and providing timely information and critical comments. New Directions decided that while it needed the skills of someone at Ms. Hidding’s level, it did not need them full time. Thus a short-term plan ended with a long-term engagement lasting six years. And when it was time to hire a full-time CFO, Ms. Hidding provided invaluable assistance in the transition. The teamCFO support was critical to the development of a strong financial organization.
Ted HowellsTreasurer, Board of Directors New Directions Inc.
Professional, efficient, effective – descriptive of teamCFO. Laura Yamanaka and her team at teamCFO worked with the California Family Health Council, Inc. in 2008-09 to identify issues and implement changes within fiscal systems and reporting. Working with CFHC management, teamCFO consultants assessed the strength and skill gaps within CFHC’s finance staff, provided in-house training or recommended external training opportunities, all while respecting the dignity of each staff member. In addition, teamCFO took the time to educate the members of the Board of Directors and Management Team as to ‘warning signs’ and ‘questions to ask’ to assure that the financial health of the organization is being represented accurately. In less than six months, systems were changed, back-up systems were established, accounts receivable decreased significantly. Within ten months, monthly close outs decreased from 50 days to 30 days, and is now approximately 20 days. They outlined the skill set necessary for the financial leadership of the organization and participated in the interview process for the Director of Finance. Managers are now confident that they are receiving accurate monthly reports from which they can efficiently manage their projects. The Board of Directors is confident that they receive an accurate picture on a quarterly basis of the fiscal well-being of the organization.
Margie Fites SeiglePresident & CEO California Family Health Council, Inc.
When teamCFO came into our organization, our accounting department was in distress. Carrie Hidding, with her very professional and take-charge attitude, assessed the department workload and each employee’s skill set, and set goals and time lines to put the department back on course. Today, we have timely and accurate information, clear policies and procedures, accountability to the Board of Directors and a department that enjoys coming to work. Carrie and her team are a pleasure to work with.
Toni ReinisExecutive Director New Directions, Inc.
When our controller resigned, teamCFO came in at a critical time and took over the accounting operations quickly. In addition to LA County DMH contract management, teamCFO overhauled our accounting operations and established financial controls. They improved efficiency, and assisted in recruiting qualified staff. We now have a much stronger department that produces timely and comprehensive financials that drive operations and keep team members accountable. Throughout the engagement period, teamCFO demonstrated a high level of commitment to our agency and consistently put in long hours to meet deadlines and get the job done. Their staff blended into our culture and got along well with the rest of our agency’s team. I would recommend teamCFO to any organization that needs financial expertise during accounting transition or to strengthen its operations. Their expertise, integrity, and commitment to our organization make teamCFO unique and standout among other service providers.
Charlene Dimas-PeinadoChief Executive Officer The Whole Child
It is my pleasure to comment on the excellent service we received from teamCFO during a period of critical transition. Our Controller/Accounting Manager had to leave after being with us for over 12 years, creating a tremendous void in our operation. We decided to make the most of this challenge and take the opportunity to reevaluate and improve our finance and accounting structure. The assistance we received from teamCFO was invaluable not only in helping us with a smooth transition but also identifying ways to increase the efficiency of our accounting and financial reporting functions. Members of teamCFO consistently demonstrated outstanding professionalism and high standards, and took the time to understand our needs as a client and formulate appropriate solutions.
Julio PuchaltAssociate Director 211
From inception, members of teamCFO have consistently proven to be knowledgeable experts and invested partners in our non profit community music school, SOL-LA Music Academy. teamCFO redesigned accounting operations in an exceptionally professional, collaborative and efficient manner, resulting in a strong financial structure, clear procedures and accurate financial reporting. Within a short time, the benefits of working with teamCFO have proven to be far reaching and invaluable.
Teri ZakzookExecutive Director SOL-LA Music Academy
teamCFO is expert in their ability to manage systems and streamline finance and accounting systems. The staff is very informed and so easy to work with. They excel in customer service, knowledge and expertise in financial and accounting matters as well as correlated business matters. The L.A. Trust was moving from a cash accounting system to an accrual basis which is crucial for non-profits. teamCFO was involved in working with our board and Finance Committee to help us operationalize best practices. Kristal Carmona works directly with me on a weekly basis. Kristal, Laura Yamanaka, Andrei Adomnicai, and Cindy Maier are wonderful partners. Thanks to teamCFO we have policies and practices in place to run an efficient organization not to mention one with clean audits! I highly recommend teamCFO to any company looking for masterful support for their finance and business functions.
Maryjane PufferExecutive Director L.A. Trust for Children’s Health
teamCFO far exceeds my expectations in customer service, knowledge and expertise in financial and accounting matters as well as correlated business matters. From the beginning of our relationship, their professionalism was undisputed. Without reserve, I would recommend teamCFO to any company looking for peace of mind on financial and other business matters
Virginia GomezPresident Southern California Minority Supply Development Council (SCMSDC)
When our Controller resigned, we did not want to rush into hiring a replacement. Instead we brought in Carrie Hidding and her team from teamCFO as the interim Controller. Shortly after they started, they identified numerous operational issues and addressed them in order to strengthen and improve the accounting operations. During this time, teamCFO helped us determine the staffing model- hired and trained new staff, improved routine accounting procedures and documentation to facilitate quicker grant and financial audits, updated and implemented cost allocation plan and revised the chart of accounts to record transactions in a more logical manner to facilitate better reporting. In addition, I was able to rely on their business and nonprofit expertise in matters outside accounting. I have found a strong partner in Carrie and would recommend her and teamCFO anytime
Christine-Mirasy GlascoExecutive Director Upward Bound House
Thank you teamCFO for your extraordinary support and continued valuable guidance to New Directions for Vets over the past 12+ years. Each time our CFO position is vacant, Carrie Hidding and her team have rolled up their sleeves and provided much needed financial expertise, nonprofit accounting knowledge, government grants know how to sustain and improve our operations. This high level service allows us time to fill the position without rushing into it. Carrie’s team demonstrated professionalism, persistence and good humor which we appreciated so much in our interactions. Carrie’s professional insights have made a significant difference to the staff, and the Board and particularly to our ability to continue delivering quality services to our Veterans. We wish the entire group at teamCFO the very best for the future and we highly recommend their services.
Mark RobesonTreasurer New Directions for Veterans
Southern California Association of Nonprofit Housing (SCANPH) replaced its internal accountant and outsourced its accounting and finance operations to teamCFO more than five years ago. Since then, the accuracy and timeliness of our operations and financial reporting have improved significantly. With teamCFO’s exceptional service and expertise in operations, nonprofit accounting (restricted grants, cost allocations, 990) and business issues, we now have a more solid foundation to grow our team and expand programs. In addition to the daily transaction work, teamCFO ensures SCANPH experiences a smooth and successful audit process, assists with long term planning, and identifies potential risks. Furthermore, our Board of Directors receives a comprehensive monthly financial package that helps them to understand and monitor our financial performance. With teamCFO on board, I can spend more time focusing on the core duties, programs, and policies that support our organization and the members we serve. I highly recommend teamCFO.
Alan GreenleeExecutive Director SCANPH
Professional, efficient, effective – descriptive of teamCFO. Laura Yamanaka and her team at teamCFO worked with the California Family Health Council, Inc. to identify issues and implement changes within fiscal systems and reporting. Working with CFHC management, teamCFO consultants assessed the strength and skill gaps within CFHC’s finance staff, provided in-house training or recommended external training opportunities, all while respecting the dignity of each staff member. In addition, teamCFO took the time to educate the members of the Board of Directors and Management Team as to ‘warning signs’ and ‘questions to ask’ to assure that the financial health of the organization is being represented accurately. In less than six months, systems were changed, back-up systems were established, accounts receivable decreased significantly. Within ten months, monthly close outs decreased from 50 days to 30 days, and is now approximately 20 days. They outlined the skill set necessary for the financial leadership of the organization and participated in the interview process for the Director of Finance. Managers are now confident that they are receiving accurate monthly reports from which they can efficiently manage their projects. The Board of Directors is confident that they receive an accurate picture on a quarterly basis of the fiscal well-being of the organization.
Margie Fites SeiglePresident & CEO California Family Health Council, Inc
Venice Community Housing had an excellent experience with teamCFO. Our accounting needs were somewhat unexpected, and teamCFO was able to step in quickly and also get up to speed right away, which we really needed. The depth of knowledge, both in the accounting work itself but also analyzing how the organization works and what it needed, was really impressive and so helpful. We would work with them again without hesitation!
Becky DennisonExecutive Director Venice Community Housing Corporation
When our long time CFO left Aviva, we were introduced to teamCFO and we engaged its interim CFO services, so we could take the time to recruit a suitable CFO replacement. From the beginning, Carrie Hidding and Jack Yu, rolled up their sleeves and dived into our accounting operations immediately. Aside from overseeing the day to day operations such as cash flow, collections, Jack used his nonprofit expertise to improve various Aviva’s financial functions. With his government contract expertise, he helped Aviva improve the internal grant reporting and monitoring processes for several significant government contracts; he provided sound advice and guidance on the development of our new year budget. He also revamped and standardized the Financial Reports to the Board, so they are more informed of key financial data. Further, Jack was professional, easy to work with and has a great sense of humor. He was effective with our core team and got along well strengthening the working relationship between programs, fiscal and other departments. I personally enjoyed working with him felt he was able to be honest with me as well as very supportive of Aviva’s overall mission. I would recommend teamCFO to any nonprofits needing assistance in their accounting operations.
Regina BettePresident and CEO Aviva Family and Children’s Services
teamCFO was brought in as interim VP of Finance after the previous VP resigned in late 2016. The assigned team, Carrie Hidding and Jack Yu, did not waste time. Jack as the VP of Finance quickly rolled up his sleeves and dived in the operations to learn about our funding, programs, accounting team, systems and the senior management team. During teamCFO’s time at Maryvale, we experienced various important changes and challenges - turnover of accounting personnel, changing fiscal year period, LA County Audit (our largest funder), financial audit, critical program funding changes and a new more comprehensive budget. During the 10 months teamCFO was involved, Carrie and Jack demonstrated their nonprofit accounting expertise in complying with and managing multiple government grants as well as sound accounting department operations (process, procedures and controls). I would highly recommend the services of teamCFO to any organization needing accounting assistance during transition or improvements. With teamCFO on board, we were able to continue the accounting operations and take the time needed to recruit a suitable replacement. As a result, we received more than maintaining the status quo, teamCFO improved our operations and began laying a stronger foundation for us to move forward.
Steve GuntherPresident & CEO Maryvale
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Case Studies

Making A Real Difference Where It Counts And When It Counts

Despite having a successful chain of restaurants, the President kept scratching her head: Where was all the money going? Her in-house accounting people couldn’t spot the trouble so the President made the right call and brought in teamCFO.

 

With experienced eyes, we uncovered a laundry list of ongoing problems, including employee theft that had gone undetected. By helping the owner understand financials of her business, we began to address the problem. To solve the problem, we put in place a daily sales register so she could view the stores’ performance and spot problems in real time.

In just three months, the business stopped drawing on its credit line. And this chain of restaurants soon enjoyed their first profits in years, almost as much as their customers enjoyed that food.

Busy with one investigation after another, why was the cash flow of this private investigation firm so bad? In fact, the principal hadn’t drawn a salary in months because the money was so tight. Like a financial detective, teamCFO went to work to solve the mystery.

By analyzing profitability, we found that the highest volume clients were actually the least profitable. What really needed to be done was to close up the lag between service and collections. In order to cover the gap, teamCFO negotiated a line of credit the business had never been able to get before. In conjunction with other basic fixes, teamCFO helped turned the business around.

In less than a year, the business was turning a profit and had expanded from 12 to 50 employees.

Everything seemed to be working for this niche professional services firm for the past quarter century. As the business grew, the accounting personnel who had been with the firm since the beginning slowly became outdated. They eventually were unable to produce timely financial data, manage cash flow and generate billing to meet the needs of the new bigger business model.

Needing help, teamCFO was brought in to assess the situation and then recruit some new professionals into the department. We worked with existing personnel to evaluate the operations and streamline processes, determining the right staffing mix. We executed a special combination of recruiting new qualified accountants while improving the existing personnel’s skills and performance.

For the first time in years, the business’s accounting department is responsible and reliable as teamCFO continues to oversee strategic operations.

The simple truth was that the accounting department of this mid-sized nonprofit was staffed with unqualified people. They simply were not up to the task of managing the complicated financials with multiple government grants and programs. In order to help others, this nonprofit first needed to help itself.

When teamCFO was brought onboard, the nonprofit had had significant personnel turnover in all its accounting positions. Losses were experienced while drawing on reserves. The organization was simply growing too fast as it was successful in obtaining grants and expanding programs. In fact, the Board of Directors was concerned about the long term viability of the organization.

Some jobs are tougher and more complex than others. The bigger the mess, the longer it takes to clean up. It look two years for teamCFO to turn the nonprofit around and get it back on track. Today, it is going strong and doing good work. What is even more impressive is that the accounting department is the driving force behind ongoing improvement throughout the organization.

By improving the overall condition of the ship, teamCFO helped foster a discipline that has led to smooth sailing ever since their first profit in years.

Experience

Big Four CPA Mindset

Insight

360 Degree Views & No Blindspots

Execution

Systems, Processes & Accountability