Experience

• 

  Philip Symonds, CPA

  • Baltimore, Maryland

  • Nonprofit Accountant and Management Consultant

    • Dec 2003 - Present
    • Baltimore, Maryland

    Providing CFO level financial management services on a fractional basis, accounting systems design, redesign, and support, and a full range of tax and accounting services for charitable and other non-profit organizations.

• 

  CHAI Comprehensive Housing Assistance Inc.

  • Baltimore, Maryland

  • Chief Financial Officer

    • May 2017 - Dec 2020
    • Baltimore, Maryland

    I retired from the full time CFO position at CHAI at the end of 2020 and have reopened the consulting firm. I am looking for project-based opportunities assisting non-profit organizations. Please contact me if I can be of assistance.

• 

  Maryland Institute College of Art

  • Baltimore, Maryland

  • Vice President for Finance; Associate VP for Finance

    • 1992 - 2003
    • Baltimore, Maryland

    • Improved accounting and business practices leading to improved workflow and better working relationships.• Strengthened internal controls leading to improved quality of financial data and reports.• Consolidated and streamlined in-house payroll production for over 1200 W-2 recipients.• Reworked accounting system configuration to standardize formatting and systematize regular report distribution.• Reduced annual audit fee by 43% and reduced fieldwork time by 50%.• Worked with IT department to identify a replacement for outdated ERP software; selected and had hand on role implementing PeopleSoft Higher Education and PeopleSoft Financials.• Issued tax exempt bonds, borrowed $38 million in three issues, and obtainted Moody's Baa1 rating.• Researched endowment history and created unitized accounting for investments. Assured best practices were deployed to distribute investment income to the correct sub-fund and resources directed to objectives specified by donors. Capturing information through the unit fund accounting lead to improved capacity for donor stewardship.

• 

  Planned Parenthood of Maryland

  • Baltimore, Maryland

  • Vice President for Finance & Administration

    • 1986 - 1992
    • Baltimore, Maryland

    • Replaced obsolete accounting system with MIP Fund Accounting. Improved financial reporting and provided data needed for critical decision-making and resource allocation.• Developed new comprehensive budget model based on financial and non-financial metrics. Improved cost and budgetary control. New accounting software improved evaluation of departmental financial and programmatic performance.• Submitted and negotiated federal indirect cost rate to maximize cost recovery on federal grants.• Authored financial management handbook to document and standardize workflow, provide guidance to employees, improve enforcement of policies and procedures, and improve consistency in recording and financial reporting.• Overhauled systems of internal control to improve accuracy of record keeping, which resulted in improved workflow, better organization of records, more efficiency, and reduction of audit fee by 40%.• Managed in-house network including installation of hardware and software.• Obtained improved commercial lease terms and stabilized costs in rented health care facilities.

• 

  Baltimore County Government

  • Towson, Maryland

  • Senior Planner

    • 1978 - 1984
    • Towson, Maryland

    • Participated elevating this local government's federally funding employment and training agency to prime sponsor status to increase funding and better serve unemployed and economically disadvantaged individuals. Initial annual funding received was over $16 million and increased to over $20 million.• Responsible as primary author and administrator of the complex 1000+ page contract document with the US Department of Labor, for obtaining approval and assuring regulatory and program compliance with terms of the contract an applicable federal regulations.• Liaison to the federal grant officer administering the contract.• Served as in-house contract officer for sub-grantees and service providers.• Worked extensively with external auditors on federally required special procedure engagements to demonstrate compliance with contract and regulatory requirements. Results consistently found no material exceptions.