Management Service
Resume:
LAWRENCE MORGENSTEIN
Cell Phone 201-***-****
Fair Lawn, New Jersey 07410
Home 201-***-****
LinkedIn URL: http://www.linkedin.com/in/lawrencemorgenstein E-
Mail:********@*********.***
Career Profile
Finance Executive proficient in all aspects of Financial Management. In-
depth cross industry experience with exceptional skill in conducting rapid
and highly accurate financial analysis and designing strategic plans that
reduced expenses, maximized profitability and improved productivity.
Consistently attained exceptional results through highly collaborative
leadership style with special expertise in:
P & L Management Strategic Planning Sarbanes-Oxley
Cash Flow Management Budgeting Process Efficiencies
Professional Experience
VIP Community Services, Inc.-Consulting CFO 2009
Reported directly to the Executive Director of this $45 million OASAS
certified Drug and Alcohol Treatment Center that owned HUD
certified housing units. Directed all financial operations and
relationships.
. Delivered improved cash flow by insuring complete timely, accurate
contract billings, sped collections
and took advantage of vendor offered discounts. These actions
increased cash flow by $5.5 million
annually.
. Managed delivery of a $45 million line item budget by line of service.
. Recovered $2.2 million in water and sewerage tax payments from over a
10 year period that the agency was exempt from since it
supplied services to HRA clients and filed as a tax exempt 501( C ) 3
organization in New York City.
. Initiated participation the New York State Blanket Purchasing Program
that led to reduced costs in everything from heating
oil for the housing units to office supplies and cell phone contracts.
This generated a cost savings to the agency of over
$1.2 million a year in reduced expenses over
a broad line of purchases.
Hirsch, Olebaum, Bram, Hanover & Lasker, PC / BTBL, Inc. CFO
2007-2009
Client: New York Center for Living, Inc.- Annenberg Foundation
Obtained a certificate of occupancy for the building to operate as a free
standing drug and alcohol treatment
center from New York City. Obtained an OASAS License for Center for Living
from New York State to operate as a privately funded drug and alcohol
treatment center. Managed a $55 million endowment by using pooling of
interest and unitization valuation methods that prevented major losses of
principal.
. Improved cash flow management by complete timely and accurate billing
of contract, sped collections of receivables from third party payers,
took advantage of vendor discounts. These actions increased
cash flow by $1.0 million annually.
. Delivered a line item budget of $4.0 million annually.
. Developed a five year strategic plan with a best case, most likely
case and worst case scenario in partnership
with the Executive Director, Board of Directors and stakeholders.
Lawrence Morgenstein
email: ********@*********.*** mobile: 201-***-**** 201-***-****
Hirsch, Olebaum, Bram, Hanover & Lasker, PC Controller
2006 - 2007
Client: The Legal Aid Society
Directed all financial operations for this $185 million legal services
agency. Reported directly to the Director of Finance
and served on the Financial Reporting, Audit and Endowment Committees. Led
a team of 5 direct reports and 26 indirect reports.
Oversaw Insurance, Benefits, 401K, Defined Benefit Pension Plan, Financial
Asset Management, General Ledger, and Office
Services. Directly responsible for P&L,Cash Flow,
Headcount, Financial Reporting, Contract Administration and Financial
Modeling. Accountable for Audit filings of the 990 and
Char 500.
. Implemented the usage of OMB-A87 recovery of contract overheads in
contract negotiations with the
City and State. This led to a recovery of $8.0 million in indirect
expenses previously excluded.
. Managed the implementation of BlackBaud Financial Software which
replaced a twenty year old IFAS
System that improved internal controls and stream lined financial
reporting.
. Improved receipt of payments from NYC by implementing a key vendor
agreement with the City Fiscal
Department where voucher processing by the City was sped from 14 days
to 3 days.
. Renegotiated the firm's lease at Water Street to include certain
concessions worth $1.2 million from the
landlord in exchange for an extension of the lease for an additional
5 years.
. Reduced costs of remote low service locations by either combining
services or closing low service offices.
This resulted in $1.7 million in cost savings while increasing service
levels in locations that remained.
The New Gericare, LLC - Omnicare, Inc. Controller 2001 - 2006
Venture capital backed institutional pharmacy acquired from Amerisource-
Bergen. Managed accounting.
. Recovered $15 million abandoned Medicaid claims by Amerisource-Bergen
.
. Led systems conversion from internal financial generic software from
Amerisource-Bergen that migrated
. to Great Plains Software
. Led contract bid on NJ State facilities that attracted Omnicare
acquisition of New Gericare.
. Implemented Sarbanes-Oxley 404 in conversion from private to public
ownership.
. Managed finalization of New Gericares sale to Omnicare, Inc.
Lawrence Morgenstein
email: ********@*********.*** mobile: 201-***-**** 201-***-****
Management Resources, Inc. consultant 1999 - 2001
. American Bank Note Printers-Successful prosecution and recovery of
employee theft of
$10 million by usage of forensic accounting.
. Grove Street Ventures (GSVI) NASDQ Small Cap. Filed 10K & 10Q for a
publicly listed
internet e-commerce company as the CFO.
. Managed Matheson Gas M&A of Trigas in a $1.0 Billion acquisition.
. Managed the $500 million estate of a bankruptcy filing for Big V
Supermarkets.
Deloitte Touche, LLP - Re:sources Connections, LLC. consultant 1998 -
1999
. Public Service of NJ-Constructed analysis of a purchase price
agreement for a $500 million acquisition.
. Winstar, Inc. -Increased cash flow by $1.5 million annually.
Monduce, Inc. Corporate Controller 1996 - 1997
Managed Accounting Department for an electronic entertainment equipment
distributor and assembler.
. Negotiated a new corporate line of credit that expanded the line by
$2.0 million. Reduced insurance expenses by $500,000 annually.
. Reduced manufacturing costs by $300,000 by instituting standard
costing, job costing
and absorption costing methods of cost accounting.
Direct Store Delivery, Inc.-Division of Nestle, Inc. CFO 1993 - 1996
Managed Accounting and Finance Departments for Nestle
. Implemented EDI reorder systems with food store chains that led to
efficient supply chain
fill process of minimum level of store reordering of product with a $2
Billion annualized budget.
. Reduced insurance costs by $400,000 annually.
. Implemented worker safety program that reduced reportables from 79
incidents in 1993 to
zero incidents in 1996.
Corso Bicycle/Stuyvesant Bicycle-Controller 1989 - 1993
Renee's Jewelry, Inc.-controller 1979 - 1989
Celanese Plastics -Divisional Finance Manager 1976 -
1979
Hewlett-packard, Inc.- Accounting Supervisor 1973 - 1976
Technologies
Software Experiences: QuickBooks Pro, MAS200, MIP, Blackbaud, Microsoft
Dynamics-Great Plains/Solomon, Fund E-Z, PeopleSoft, Peachtree, EPICOR,
RESCOTT, ACCPAC, Timberline, MS Access database, Microsoft Office
Education
Rutgers
University-MBA
Finance 1976
Rider
University-BS
Economics 1972
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