Virginia Business announces Virginia CFO Awards winners

Published June 23, 2016 by Jessica Sabbath

Virginia Business presented awards on Thursday night to five chief financial officers.

The magazine’s Virginia CFO Awards recognize outstanding performance by CFOs in for-profit and nonprofit organizations.

The winners of the 11th annual Virginia CFO Awards are:

• Small Nonprofit Organization: Julie Hovermale, CPA, of the Better Housing Coalition in Richmond: Hovermale came onboard after the recession to help the Better Housing Coalition assess the financial challenges it was facing. If they were not addressed, these problems could have meant the organization’s demise. The proposed changes led to an organizational restructuring and new accountability for all business lines. Since then, the Better Housing Coalition has created a new nonprofit structure that now generates 85 percent of its annual budget. According to the nonprofit, “Julie’s dedication to [Better Housing Coalition’s] mission helped save our organization from an untimely demise and regain our True North to continue bringing value and hope to thousands of lower income families throughout our region.”

• Large Nonprofit Organization: Jeff Reed of Community Housing Partners in Christiansburg: Reed has been a key player in Community Housing Partners’ growth. During his tenure, Community Housing Partners’ assets have grown 385 percent, while its revenue has increased 220 percent. The organization is recognized as one of the best-performing in its field in the nation.

• Small Private Company: Mike Griffin of Tucker Griffin Barnes PC in Charlottesville:  created an innovative system of interconnected dashboards that provides Tucker Griffin Barnes PC with immediate feedback, helping it make rapid adjustments and continue its growth. “…Our law firm would not have survived the great recession intact, nor enjoyed our current growth and increasing profits without the management guidance, consensus building, and financial innovation of Mike Griffin,” says Tucker Griffin Barnes PC.

• Large Private Company: René Chaze, CPA, Edelman Financial Services: Chaze led several important transactions last year, including one that led to a firm acquiring majority control of the company. He also guided the company’s efforts in a $230 million syndicated debt offering to finance the transaction. “Through his thought process, actions and leadership style, Rene has reframed the role of CFO as one who is much more than a bean-counter, but is instead a strategic member of a company’s management team – able to anticipate relevant issues from a high-level while also seeing the operational details that will need to be addressed,” says Ric Edelman, CEO of Edelman Financial Services.

• Publicly Traded Companies: Dave Keltner of Ferguson Enterprises Inc. in Newport News. Keltner has overseen 75 successful acquisitions and integrations, including 35 during the past six years that have added $1.1 billion to annual sales.  His leadership and business approach have propelled the company to unprecedented post-recession growth, including a 35 percent increase in jobs, and a $5 billion increase in annual sales. Ferguson currently employs 22,000 associates nationwide, including 2,500 in Virginia and boasts $13 billion in annual sales.

The winners were selected from 42 nominations. Previous winners George Kite of Call Federal Credit Union, Steve McAllister of Washington and Lee University, Lori Overholt of VSA Resorts, Chip Bowman of T. Parker Host and Jim Woodward of Media General served as this year’s judges.

Below is a gallery of images from the evening's festivities taken by photographer, Rick DeBerry.  To request a copy of your photo, please email art director Adrienne R. Watson.

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