Final Entry: Geralyne Mahoney–Dedicated to Service
Geralyne Mahoney, CPA was one of CalCPA’s 2008 Women to Watch Award winners. She is a partner at Burr Pilger Mayer and is known in California—and nationally—as an expert in all things nonprofit. She recently shared with California CPA how she has become such a success at using her CPA powers for good in the community.
Tell us about your work with the nonprofit sector and you firm’s Roundtable Series for Nonprofit Development.
I have been fortunate enough to land in a firm with founding partners who understand and embrace the importance of being a good corporate citizen. While working with nonprofits, we realized there were limited opportunities for both management and board members to become educated on the complex accounting and tax issues they face or to keep up with new regulations and best practices. We saw the need for assistance, looked at our core values—one of which is giving back to the community—and the rest is history. Along with our co-sponsors, we’ve been providing approximately 40 free roundtable, educational sessions annually to nonprofit organizations since 1995.
What are key issues for nonprofits in today’s economy?
Budgeting. Many nonprofits have multiple revenue streams and all are suffering. State and federal funding is unpredictable relative to funding for next year and cash flow for this year. If you are lucky enough to have an endowment, the market decline has put limits on what you are able to draw from the funds. Foundations’ investment performance has suffered and many are cutting back on the support they offer. Meanwhile, demand for social services is higher, but more people are uncertain about their futures and are either limiting their contributions or stretching out their pledge payments. Memberships, performance ticket sales, corporate sponsorships, golf tournaments, charity auctions and special events are all in danger.
How can nonprofits sustain themselves?
Nonprofits need to look at the core of their mission, get the board and the staff refocused on how to deliver services in the most cost-effective way and, once more, produce more with less. This is the time when board members really have to roll up their sleeves and be as resourceful as possible in assisting management to steer through the days ahead and leveraging their contacts. Seeking volunteers where it makes sense to do so is a necessity, and there are many who stand ready to serve.
As a CPA, how have you improved your community?
I have been serving on boards in the community for 20 years, and as much as I may want to do something other than the finance or audit committee, I realize that is where I can best assist organizations. As the chair of our nonprofit services group, our partners and managers also see me as a resource for the boards on which they serve. I wish every CPA found an organization they felt a passion for. Nonprofits need our expertise now more than ever, and giving back is just the right thing to do. It’s easy to get started—find the organization you want to support and pick up the phone.
What attracted you to the Hanna Boys Center in Sonoma?
Hanna Boys Center has been turning hurt into hope for at-risk boys since 1949. These boys are not court appointed; they choose to get out of the tough environment they are in and find a way to pull themselves up. I believe that if we can turn around one life at a time and give a young man any chance to succeed, the world is a better place. I wanted to be a part of such an inspiring organization and help where I could.
Rumor has it that your high school guidance counselor paid your mother a visit out of concern that a young lady from a small town would struggle in a larger college environment. How did you persuade him otherwise?
I didn’t have to. My mother took care of that and told him that her daughter had the ability and strength to do anything she put her mind to doing. I have never felt held back as a woman—having a supporting family of six brothers and a strong-willed sister may have had something to do with that. They all contributed in difficult times to get me through college and for that I am ever grateful.
Burr Pilger Mayer has grown to more than 400 employees since you hopped aboard. What’s it been like?
It has been an absolute thrill. Being an instrumental part of the success of the firm fuels everyone that works here every day.
If you could relive your career, would you change anything?
I should hope not. It has been a very rewarding career and I could not be happier.
