James Elder Email & Phone Number

Using thirty years of executive management experience in local industries to provide financial management consulting in the Washington, DC region the firm focuses on assisting executive and financial leaders in the non for profit and other industries, as well as their boards and committees, to improve managerial and financial productivity, strengthen controls, identify and evaluate risks (particularly strategic risks), mentor financial staff, and substitute or augment leadership in the finance function.Flexible consulting engagements provide organizations with a critical level of assistance when they need it using a wide range of experience our consulting engagements can diagnose complex problems, identify practical and comprehensive solutions, and guide their implementation.

Responsible for all financial management as well as facilitiesMember of Management Executive CommitteeMember of Compensation CommitteeMember of Retirement CommitteeStaff liason to Board of Directors Committees:Finance and AdministrationAuditInvestmentBuilding NPR is an award-winning, multimedia news organization that produces and/or distributes radio programs that are heard weekly by 27.5 million people and nearly 10 million people that visit NPR's web site - www.npr. Annual operating budget exceeds $150 million, employing over 800 staff.; Direct all aspects of financial and administrative management. Functional areas include budgeting / planning, treasury, facilities, accounting, purchasing, and administrative functions. Selected Accomplishments:Managed enterprise during period of significant growth: revenues doubled and net assets grew from $48 to $443 million; also managed financial affairs during challenging economic retrenchment. Leader in the purchase of two real estate properties, one for future new headquarters and other as west coast production center, and was point person in issuing two tax-exempt bond issues with letter of credits. Point person in negotiating 20-year real estate tax abatement valued at over $40 million. Point person in the successful resolution of a significant retirement plan deficiency requiring a multiple year research effort resulting in adjustments to most employee's accounts with minimal employee disruption.Handled the financial integration of two purchased companies: contract preparation, due diligence, and successful coordination of cash flows, accounting integration, and insurance.Transformed the Accounting department and financial reporting to a reliable and responsive unit without increasing headcount.Initiated and led effort to form the first Investment Committee, investment policy, and Committee procedures policy.

A professional association representing 180,000 registered nurses. Subsidiaries include American Nurses Credentialing Center, American Journal of Nursing Company, American Nurses Foundation, and ANA-PAC.Acting Executive DirectorDeputy Executive DirectorChief Financial Officer and Director of Administrative ServicesDirected all aspects of financial and administrative management utilizing a staff of 40. Functional areas include member billing, information systems, facilities management, purchasing, mailroom, accounting, and treasury. Member of pension committee, with heavy involvement in personnel management. Selected Accomplishments:Directed organization as CEO for nine months and maintained high energy level of organization during major legislative initiative.As the primary liaison to Board of Directors for all financial matters, dramatically improved the Board’s and House of Delegates’ understanding of financial and administrative matters by improving presentations and reports.Managed relocation of organization from Kansas City to Washington, DC. Hired staff, managed office space construction, and procured new local service providers.Wrote corporate financial policies for Board of Directors including new investment policy that significantly increased the return on portfolio.Selected and installed technological improvements including new computer hardware, office productivity and financial software, as well as telephone systems, resulting in virtual elimination of internal hard copy correspondence, improved membership billing and tracking, and significantly improved telephone answering rate.Led the negotiations for first contract with staff union.Sold all operations of subsidiary for $24M. Point person for financial analysis and negotiation for purchase of subsidiary operations in education / publications industry.Increased reserves from $3 million to $13 million.

Responsible for Development, interpretation, coordination and administration of hospital's policies on accounting, financial systems, reimbursement, internal controls, cash management, investments, debt, and taxes. Key participant in benefit administration, business strategy, budgeting, facility management, patient accounting and contracting. Managed staff of 70.Selected Accomplishments:Stabilized accounting function, reduced turnover, reduced staffing, and improved performance - particularly in areas of cash receipts and accounts payable.Re-established credibility of financial systems by directing several successful computer system installations and upgrades - chaired computer systems steering committee.Spearheaded $52M tax exempt bond issue. Coordinated and directed activities with accountants, attorneys, underwriters, and government officials.Chairman of Committee on Pensions covering 7,000 employees for parent company (MedStar). Converted defined benefit pension to a cash balance plan.Improved significantly the external audit process (reduced auditor adjustments form 25 to one) and reduced audit fees by one-half.Designed and implemented policies on employee benefits for entire Medstar workforce producing savings in excess of $2M.Established flexible benefit programs, saving $90,000 annually in FICA taxes.Improved bottom line by $1.2M by increasing third party payments.Averted lawsuit with neighbor hospital by renegotiating shared energy contract.Increased pledges by 105% in one year as chairman of United Way campaign.Developed new policies on capital budgeting, leasing, and use of travel agents.

Responsible for all aspects of accounting, tax compliance, and financial management of employee and commercial insurance. Managed a staff of 34. Participated in investment strategy, member insurance trust, and budgeting. Heavily involved in convention management (2 national meetings per year) and publications management.Selected Accomplishments:Directed installation of new computer systems, including general ledger, cash receipts processing system, payroll, and cost allocations.Improved cash flow by approximately $1M by reducing cash receipt processing by 12 days and increasing accounts payable processing by 10 days.Challenged IRS audit and obtained refund in excess of $400,000.Improved management reporting by redesigning financial statements.Responsible for grant and contract accounting.Assistant Controller for Budgeting, Contracts, and Internal Audit 1979-1980Developed new overhead and cost accounting, performed internal audit.

Employed by Main Lafrentz, an international public accounting firm operating in 70 offices throughout the U.S.Supervised audits and management consulting engagements.Wrote financial and management reports.Performed tax, SEC, and ERISA work.