KaBOOM! Chief Financial Officer Gerry Megas was honored by the Washington Business Journal as the region’s Non-Profit CFO of the Year on Wednesday evening.
Selected over stiff competition, Gerry’s contributions have led KaBOOM! to a more secure financial situation and increased its operating reserve by bringing in his experience from the for-profit sector as a CPA and CFO for U.S. Foodservice.
Joining KaBOOM! in 2006, Gerry initiated a number of changes in accounting, budgeting and financial controls to ensure the stability of the organization, helping to almost double its contribution to net assets from $907,000 in 2007 to $1.5 million in 2008. In 2007, Gerry established a financial plan that increased the KaBOOM! organizational operating reserve from a capacity of two months to nine months by the end of 2008.