Chief Financial Officer
Lefkovitz Family Enterprises
Chief Financial Officer, Lefkovitz Family Enterprises and Manager, Venture Fund LLC
Oversee $71M venture fund while providing financial direction and strategic planning for 25 companies, mainly nursing homes and supportive living facilities, a private insurance company and real estate management companies. Managing member of Springfield Supportive Living; 50 FTE and annual revenues of $4M.Provide counsel to owners in areas including strategic planning, operations improvement, estate planning, property and construction management; IT infrastructure; banking; insurance and family-owned foundation.Apply company profit of $10M to investments, reinvestments, and disbursements. Review P&L on monthly basis and recommend improvements. Launched business to purchase vending machines and retain profits for organization. Oversee vending business, as well as company purchasing. Negotiated all financing, including bond deals with City of Chicago through complex bureaucracy involving financing, zoning, and site control.
- Negotiated financing and orchestrated the building of 6 supportive living facilities. Launched and managed privately owned insurance company, resulting in annual savings of $1M.
- Oversaw asset growth from $1.6M to $71M in 5 years.
- Negotiated and obtained more than $40M in tax-free and tax credit bonds from City of Chicago, $60M in bank financing and $30M in HUD financing.Expert in HUD finance.
- Established new accounting system, streamlined reporting, and instituted tracking, facilitating profit increase from $2M to $6M in 4 years.Managed transition to a paperless environment.
- Instituted program to purchase company’s own debt, resulting in return of more than $4M.