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Wednesday, Jun 19, 2024

CFO Awards: Nonprofit CFO of the Year

David Felman

Jewish Family Service Los Angeles

Felman has over 15 years of investment banking and financial services experience. He has an extensive background advising management teams, corporate directors, governments/non-profits, and entrepreneurs on critical strategic transactions, including mergers & acquisitions, leveraged buyouts, divestitures, joint ventures, debt and equity financings, and recapitalizations & restructurings. He has advised on over $75 billion of transactions across a broad spectrum of industries, including the consumer, financial & business services, media & entertainment, and real estate sectors. In addition to serving as chief financial officer of Jewish Family Service of Los Angeles (JFS), the oldest charitable organization in southern California, he also serves as a Senior advisor at Greif & Co.

Two years ago, Felman decided to change hats with JFS and move from being a board member and chair of JFS’ Finance Committee to join the senior staff as the chief financial officer. This was at a time when the finances at JFS were challenged with a net loss from the prior year and was struggling with deficits and significant debt.

Felman’s dedication to the vital and important social services provided by JFS combined with exactly the right skill set to turn the organization around financially. Two years later, with Felman’s leadership, JFS’ finances have stabilized, with debt fully paid down, reserves doubled and the financing and construction of a spectacular new building for administration and social services underway. Felman has also carefully guided JFS through the challenges the organization has faced from the coronavirus to meeting the needs of the organization’s vulnerable clients.

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