Is your business growing like a weed? Or do you sense your business is about to bloom but you’re still experiencing challenges?
Enter Backbone CFO. Our Fractional CFO services are designed for — YOU!
Melissa
Melissa Zinni is a senior financial executive with over 20 years of expertise in large organizations. She has held the position of Chief Financial Officer for Hampton Behavioral Health Center and Maryville, Incorporated, where she combined her financial expertise with leadership, people operations, and behavioral knowledge. Her passion for developing strategic plans for operational and long-term financial success has given her countless interactions with C-Suite executives and directors. As a result of her detail-oriented work ethic, Melissa has also developed financial software and managed information systems for more than 300 users in 17 different locations. She is passionate about financial success and is on a continuous quest to find new and creative tools that lead to a fruitful financial journey for all business entities under her financial leadership.
As a young person, I was involved in many activities that taught me a variety of skills that I didn’t necessarily understand until I became a professional in the real world. I received my foundation in discipline, dedication, and perseverance in the martial arts. I found many other ways to build on that foundation and dove into competitive and sideline cheerleading through high school. Extracurricular activities opened up a whole new world. I was barely home for dinner. The groups I enjoyed the most were Model UN and the YMCA Youth and Government. I made the national team 3 years in a row and was invited to a high school conference with the US Senate. Through college I continued volunteering for both YMCA programs and graduated with two degrees from The College of New Jersey with a Bachelor of Art in Philosophy and a Bachelor of Science in Finance.
My passion for government and community affairs led me to a position as financial advisor and broker dealer at Commerce Capital Markets. Our division structured new issue debt and refinancing bond deals to meet marketplace and tax needs at municipalities, school districts, and local agencies. During my time there, I started an SEC regulated money fund for public entities that grew to over $650 million. I was proud that I actually built the software that managed the portfolio, calculated the interest, managed transactions and produced monthly statements. I also passed the following exams: Series 7 (general securities representative), Series 52 (municipal securities representative) and Series 66 (uniform combined state law). I enjoyed school financing and structure so much that I became a certified New Jersey School Business Administrator.
After Commerce Capital Markets started going through changes, a few colleagues and I started our own financial advisory firm, Phoenix Advisors, LLC. We spent most of our time making presentations to local communities, rating agencies and insurers to execute tax-exempt and taxable transactions that were sold publicly and through private sale. At this time, I was still volunteering for the YMCA as their New Jersey State Director. It was a lot, but I loved all of it.
I decided to continue with the YMCA, professionally, after starting my own family. They offered day care and programs for kids which allowed my daughter to grow and be happy. It was there that I started negotiations for the YMCA to be the first community family fitness facility to join operations with a local healthcare facility. I later became the Vice President of Finance where I was responsible for the annual audit, daily cashflow and financial statements. The YMCA is a non-profit organization who relies on donations, community support, child care and summer camp income. The mission was big and so were the months of tight cash constraints. I worked so hard that I was able to decrease accounts payable by 30 days and the reliance on the line of credit. Maintaining a 13-month forecast allowed for realistic budgeting and cashflow management. This was another place where I implemented new financial accounting and operations management software. I truly enjoyed developing strategic plans that produced operational efficiencies and achieved long term financial goals/stability/growth.
I loved helping others, both through community work and financial solutions. This led me to a different type of environment, but still allowed me to align with my passions. Maryville gave me the introduction to healthcare but allowed me to still be connected to the community through its non-profit behavioral health mission. I had the opportunity to keep working with the county and state government to find support for patients. We had annual fundraisers where I got to take my Chief Financial Officer hat off for a night and really get to learn the good work the organization did for all of its stakeholders. I initiated payor contracts with commercial health insurance companies. I reviewed all the process and procedures and implemented company-wide online tracking of all services to allow for billing to be completed 25% sooner, thus getting cash in sooner. Since we owned all of our properties, I was also able to issue Request for Proposals and oversee multiple construction projects.
I wanted to give clients the best services in the best environments, without as many constraints. So, I accepted the position of Chief Financial Officer at Hampton Behavioral Health Center, a for-profit healthcare entity. I provided many of the same financial solutions as I did at the YMCA and Maryville. Through analysis of daily and monthly workflows the allowance for bad debt allowance dropped to less than 2.5% of net revenue. With efficiency and transparency, operational costs have decreased, and staffing levels aligned with patient volume (no more over staffing).
I believe trust is the most important factor in financial representation, and trust comes from transparency and sharing information. I approach every day, every transaction, every entry as an audit review. Procedures need to be on point and monthly/daily checks and balances need to be transparent. Staffing patterns, supply orders, hours of operation, and delivery of services all lead to a financial outcome. My passion is learning what makes a company and its employees unique, then I work with the leadership team to streamline processes and procedures. My goal is to create process and develop strategic plans to produce operational efficiencies and achieve long term financial success. Technology cannot be left out of the conversation – the right implementation allows for optimal business function. Each business entity has its own successes and challenges, and I am always excited to find them. Business financials tell a story, and it’s my goal to ensure that it stays a happy story for you.
Jim Emerich
Jim Emerich holds the title of both founder of and CFO at Backbone CFO. His professional career boasts many accomplishments, including Chief Financial Officer at Parts Life Inc. During his time at PLI, he led efforts to acquire DeVal Life Cycle Support (formerly DeVal Corporation), as well as LC Engineers, Inc. and successfully integrated both companies into the PLI family. He has closed over $20M in financing deals including acquisition, real estate, working capital and equipment financing. Though he experienced an exciting career trajectory, in his heart he knew small business was always near and dear. This passion ultimately led him to focus on launching Backbone CFO with the primary purpose of creating clarity for growth-minded business owners.
Payton
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Lori
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Nicole
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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