Charles Fraschilla

*** ***** ***** **** **** Hollywood, CA 90069 (917) 847- 5226

Charles A. Fraschilla

Controller

Skills and Experience

• Controller

• Senior Financial analyst

• Budget preparation

• Financial reporting

• Financial modeling

• Cost accounting

• Inventory

• Bank relations

• Process improvement

• Sarbanes-Oxley

• Internal Audit

• Statistical modeling

Industry Lines

• Financial Services

• Real Estate

• Hotels

• Aerospace

• Landscape Architecture

• Insurance

• Banking

• Private Equity

• Hospitality

• Investment Banking

Computer Applications

• MS Excel (macros, pivot,

vlook, replace, sumifs)

• MS Word

• MS Access

• Quickbooks

• Timberline

• Argus

• FRX/Crystal Report Writers

• Yardi

• Oracle, Oracle Reports

• PeopleSoft

• Platinum Accounting

• AccPac Accounting

• Micros and Opera

• SAP

• Great Plains Accounting

Education/Qualifications

• Economics and Accounting,

Berkeley, 1987

• MBA, Finance, Pepperdine

(1st year), 2009-2010

Affiliations

• California Real Estate License

Principal Areas of Practice

• Making best use of my accounting and analyst background as Controller and Chief Accountant to oversee all budgets and operations, recording activity and prepare financial and management reporting packages.

• Raised 15 million in private equity financing to expand operations in Aerospace company. Major Projects

Established and Set up Investment Funds and Models

• Set up all accounting procedures to best account for all fund activity which included the various assets including real estate, hotels, real estate, fixed income and public companies.

• Setup the general ledger allowing the consolidation of the hotels into the owners operations and up the chains to the holding company using excel to reduce time spent entering manual entries.

• Prepared all financial and budget models which allowed for asset acquisition, forecasting market penetration and revenue growth while taking advantage of operation efficiencies, and the marketing and sale of portfolio to achieve maximum value and record waterfall payments to Lenders and Investors as required by documents.

9/11 Insurance Project

• Millennium had a mixed use project 3 blocks from WTC and the hotel in the complex was set to open the first week of Oct, 2001 but the building sustained damage and the hotel opening was delayed till 2002.

• Prepared financial analysis for losses incurred by the building and hotels which were covered by Chubb Insurance to receive benefits as defined by the policy. Losses in addition to damage were hotel loss of operations, incentives to motivate the units in contract to not cancel, cancelled units, return on the sale of units, loss of not being able to market the unsold units and damage to the furniture, fixtures and equipment which were in the building at the time

• Prepared financial analysis and arguments for final arbitration which settled for another $5.0 million making the total benefits received approx. $17.0 million. Strategic Improvements to Corporate Profitability

• Responsible for developing new tax strategies, saving owners millions in tax liability going back 2 years and forward and restructured human resources (PEO) with huge savings to the company and the employees. Automation of Accounting Process

• Reviewed the Report templates for Assets, Loans, Accruals and other Assets.

• Once reports are approved entries are uploaded which enable the monthly accounting to take days instead of weeks.

Highlights of prior Career Positions

Fund Controller, Millennium Partners

• Responsible for all financial reporting (including audited annual financials) for private equity funds and partnerships with investments (equity and debt) in hotels.

• Member of Executive Committee overseeing all asset budgets, operations, variances and ensured project compliance to operating agreements.

• Performed all financial analysis for projected ventures and acquisitions including Cash Flow Projections/Financial Modeling, Daily P&L Analysis, Equity and Fixed Income Derivatives used in Financing, Loan and Collateral Compliance, Internal Rate of Return and Discounted Present Value by Project, Lender and Partner.

• Abstracted and summarized various legal documents relating to acquisitions and financing including Loan Documents, Purchase and Sale Agreements, Pledge Agreements, Operating Agreements and Closing Documents.

Senior Financial Analyst, Pascorp

• Provided financial analysis for mergers and acquisitions, real estate investment trusts (REITS) and class action law suits against companies and contemplated transactions.

• Provided financial analysis for attorneys who were attempting to stop with formation of Host Hotels and Resorts because of unfair proportions of stock ownership.

• Provided financial analysis for attorneys attempting to stop the sale of REIT operating entities to the benefit of the operating company owners and not the REITS shareholders. Chief Accounting Officer, Bosley Medical Group

• Chief Accountant for internationally respected cosmetic surgical center and associated entities.

• Complete control of all journal and ledgers through management and GAAP financial reporting. Prepared annual marketing and fiscal budgets as well as forecasting. Converted all manual reports to computer produced to cut time of closing month from twenty-five days to ten days.

• Managed all cash levels for Management Company and twenty-six related entities (70+ accounts). Prepared daily, weekly, monthly and quarterly cash management reports. Implemented procedures to automate cash transfers throughout country to maximize use of cash. Prepared daily and monthly reconciliation of trades for all securities accounts

Professional Work History (1991 to Present)

Inner Gardens, Inc Interim Controller and Chief Reporting Manager 2016 – 2017 Southern Air Chief Financial Analyst 2015

Starkwood, Inc. Financial Analyst Manager 2013 - 2015 Union Bank / Bank of Tokyo Mitsubishi UFJ Ltd. Senior Financial Analyst 2011 - 2012 RFR Realty Corp. Real Estate Controller (includes hotels) 2008 - 2009 Millennium Partners LLC Hotel Group Controller/Asset Manager 1999 - 2008 Morgan Stanley Dean Witter Consultant Leasing Officer 1999 Pascorp Senior Financial Analyst 1998 - 1999

Swiss Re Accounting Manager/Financial Reporting Manager 1996 - 1998 Bosley Medical Institute Chief Accountant 1991 - 1996 Charles A. Fraschilla

733 North Kings Road, West Hollywood, CA

(917) 847- 5226 ac21hu@r.postjobfree.com

EXPERIENCE

Financial Consulting, 08/15 to Present

• Inner Gardens, Inc. Culver City & Malibu, CA

Interim Controller and Chief Reporting Manager 04/16 to Present Responsible for preparation and analysis for Financial Statements, Ad Hoc Reports, Cash Management, Payroll, Marketing, Commissions, A/P and A/R for very high-end interior and exterior landscape design company. Automated all reports to cut preparation time while increasing reporting integrity. Setup and implemented 401k plan. Established processes to ensure all areas of accounting/finance reduce mistakes and increase productivity.

• Southern Air Beverly Hills, CA

Chief Financial Analyst 08/15 to 12/15

Successfully executed campaign to raise $10 million equity for avionics firm based in Beverly Hills. Developed database of airplane related transactions over last five years as well as private equity firms which invest in transportation and tech companies... Starkwood, Inc. Beverly Hills, CA

Controller 01/13 to 07/15

Controller for a real estate management company and related LLCs/partnerships managing 300+ properties with 1 2 section 8 rentals. In charge of finance/accounting department managing office staff of 20 employees. Responsible for developing new tax strategies, saving owners millions in tax liability going back 2 years and forward and restructured human resources (PEO) with huge savings to the company and the employees. Oversaw all tax and bank compliance reporting and cash management using Yardi and Excel softwares and over saw CIP reports. Financial Consulting, 11/08 to 12/12

• Union Bank, NA. Los Angeles, CA

Consultant 06/11 to 12/12

Consultant for subsidiary of Bank of Tokyo/Union Bank. Implemented the acquisitions of a bank holding company and 12 subsidiaries. Instrumental in the transfer of all operations from Boston and NYC to Los Angeles as well as integrating the client and trustee relationships within the Union Bank community.

• White Rabbit Partners, Inc. Los Angeles, CA

CFO/Controller 05/10 to 03/11

CFO/Controller for a start-up medical firm who operates behavioral health facilities including Klean West Hollywood and Klean Pasadena. In charge of finance and accounting departments managing cash during extremely difficult market conditions. Provided all pro-formas and projections for M&A investment bankers to raise money for target acquisitions and internal capitalization.

• RFR Realty Holding New York, NY

Real Estate Controller 11/08 to 04/09

Prepared internal audit workpapers for company and subsidiaries with mixed use properties. Member of project team implementing transfer of accounting/lease administration software from Skyline to Yardi. Audited and/or entered base rents, step ups, billed expenses and escalations to ensure proper invoicing and administration for the start date on the transition. Millennium Partners New York, NY

Hotel Group Controller (Asset Management/Private Equity Accounting/Financial Modeling) 07/99 to 09/08 Responsible for all financial reporting (including audited annual financials) for private equity funds and partnerships with investments in public equity, fixed income, hotels, residential condominiums and retail suites (operating and under development, job cost) and related entities. Member of Executive Committee overseeing all asset budgets, operations, variances and ensured project compliance to operating agreements. Performed all financial analysis for projected ventures and acquisitions including Cash Flow Projections/Financial Modeling, Daily P&L Analysis, Equity and Fixed Income Derivatives used in Financing, Loan and Collateral Compliance, Internal Rate of Return and Discounted Present Value by Project, Lender and Partner.

Abstracted and summarized various legal documents relating to acquisitions and financing including Loan Documents, Purchase and Sale Agreements, Pledge Agreements, Operating Agreements and Closing Documents. Setup multi-company ledgers in accordance to legal and tax structures. Setup accounting policies and procedures for newly created Hotel Asset Management Division. Morgan Stanley Dean Witter New York, NY

Consultant, Real Estate/Leasing Analyst and Y2K Project Administration 03/99 to 07/99 Implemented plan for Y2K lease administration. Created and Managed Access and Excel databases in order to ensure plan compliance of over 800 office locations. Audited real estate database for integrity (ensure escalations and CAM billed correctly) and implemented procedures to assure quality data control.

Partners Advisory Services Corp New York, NY

Senior Financial Analyst 01/98 to 03/99

EXPERIENCE continued

Salaries and References available upon request

Duties include the preparation of financial analysis of M&A and real estate transactions (retail, office, residential and hotels) and the written and verbal correspondence with clients concerning the findings of such analysis. Position also included consulting with attorneys, investors and other clients regarding the historical results of specific transactions and the feasibility of future transactions. The financial analysis includes valuations based on net present value and liquidation calculations, market investigation, derivative analysis and projections of operations over an extended period of time. Provided litigation support on various class action finance lawsuits. These duties as well as client meetings are conducted at the New York City offices of Pascorp.

Created Database of statistics of all Real Estate Investment Trusts to compare performance of properties owned or managed based on various criteria. Prepared report on the inherent inability of Real Estate Investment Trusts ability to exist without conflicts of interest. Swiss Re New Markets/ Swiss Re Capital Markets New York, NY Accounting Manager/ Financial Reporting/Cash Management 04/96 to 01/98 Accountant for a start up financial services subsidiary of Swiss Re Zurich. Complete control of all journal and ledgers through management and GAAP financial reporting. Instituted all accounting policies and procedures in all aspects of accounting (i.e. general ledger, accounts payable, job cost accounting, travel and entertainment and foreign currency exchanges). Set-up all accounting policies and procedures for accounting of $75 million construction project for build-out of new corporate headquarters and cost allocations for 20 related divisions. Implemented new job cost and cost allocation systems for client and budget reporting. Heavy exposure to foreign currency, cost allocations, inter-company transactions, consolidations, and budget variance analysis.

Bosley Medical Institute, Inc. Beverly Hills, CA

Chief Accountant and Financial/Marketing Analyst and Reporting 04/91 to 03/96 Chief Accountant for internationally respected cosmetic surgical center and associated entities. Complete control of all journal and ledgers through management and GAAP financial reporting.

Prepared annual marketing and fiscal budgets as well as forecasting. Converted all manual reports to computer produced to cut time of closing month from twenty-five days to ten days.

Performed treasury function. Managed all cash levels for Management Company and twenty-six related entities (70+ accounts). Prepared daily, weekly, monthly and quarterly cash management reports. Implemented procedures to automate cash transfers throughout country to maximize use of cash. Prepared daily and monthly reconciliation of trades for all securities accounts. Oversaw all operating leases for 50 locations throughout country. Maintained lease abstracts, audited CAM and rent escalations. Liaison between companies with all taxing authorities (federal, state and local) in twenty-five states (Income, Sales and Use, Personal Property, Commercial Rent Tax, and Business License).

Pacific Southwest Corporation Los Angeles, CA

Controller and Assistant Treasurer, Real Estate Asset Management 11/87 to 04/91 Complete control of accounting department through financial statements and tax returns for publicly held and highly diversified corporations and affiliated real estate partnerships. Produced quarterly and yearly-consolidated financial statements for SEC (i.e. 10K and 10Q) and tax reporting. Familiar with inter-company transactions and internal audit control. Produced all job cost and budget reports for construction projects. Set up various accounts receivable, collection and payable procedures for business in mortgage banking, equipment leasing and agriculture. Supervised various departments including accounting, accounts receivable and payable. Monitored all lease and mortgage activity for internal risk control. Other duties included acquisition audits, budgeting and forecasting. Rita Gerber CPA, An Accountancy Corporation Los Angeles, CA Staff Accountant 11/85 to 11/87

Staff accountant for a local accounting firm with primary emphasis on corporation review and tax returns. Duties included review, compilations and budgets for various businesses in residential construction and management, medical and educational fields. Performed all monthly accounting and job cost functions for a large office building developer. Prepared state and federal individual, corporation and partnership tax returns. COMPUTER SKILLS

Extremely proficient with Excel (pivot tables, vlook, macros, financial modeling expert), Quickbooks, Timberline, Yardi, Skyline, Office Connector, Argus, Access, Word, Lotus 123, Lotus Notes, BNA Fixed Assets, Oracle, Strategen, Peoplesoft, MRI, Platinum, FRX, Crystal Report Writer, SQL, Accpac, Turbo Tax, Tax Cut, Fourgen, Brock Marketing, Edgar (SEC reporting), Bloomberg, Lexus, Pagis Scanning Software and Sabre. EDUCATION

University of CA, Berkeley, Economics, Minor in Accounting University of CA, Los Angeles, Additional Accounting, IT and Real Estate Finance Course CA Real Estate Brokers License

SALARY HISTORY (base + bonus, beginning > end)

Inner Gardens, Inc. $75/hr

Southern Air $55/hr

Starkwood, Inc. $80k+3k > $100k+3k

Union Bank, NA. $75k > $75k

RFR Realty Holding $75/hr

Millennium Partners $75k+$10k > $155k+$150k

Morgan Stanley Dean Witter $50/hr

Partners Advisory Services Corp. $70k+$5k

Swiss Re New Markets/ Swiss Re Capital Markets $55k+3k > $57k+3k Bosley Medical Institute, Inc. $39k > $57k+$10

Pacific Southwest Corporation $35k > $41k

Rita Gerber CPA, An Accountancy Corporation $15>$18

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