Career History:
EducationDynamics LLC (2004 to 2009)
EducationDynamics is the leading provider of internet marketing services to the higher education market. The company operates in two divisions, Prospecting Services and Enrollment & Retention. Employed in the Chester location of Prospecting Services which operates the GradSchools.com, StudyAbroad.com and IIEPassport.org web sites.
Chief Accounting Officer (2008 to 2009)
Established companywide accounting policies to assure uniformity of practice. Drafted financial statements and accompanying footnotes, and assisted in audit reducing audit fees. Managed insurance coverage and coordinated legal matters. Prepared all board minutes and acted as secretary for Board of Managers.
President EDU Division (2007)
Executive Vice President, Chester Operations (2008 to 2009)
President until re-organization and combination of division into Prospecting Services. Held EVP and CAO position simultaneously, reporting to division President (EVP) and CFO (CAO).
- Increased revenue 36%, improved gross margin 45% and reduced operating expenses 24% resulting in a 46 fold increase in profitability.
- Increased the effectiveness, cohesiveness and trust of the management team, kept all staff motivated, which increased morale through a time of dramatic change.
- Improved the effectiveness of IT, eliminated unnecessary outsourcing, and improved training, which decreased costs and improved quality and timeliness.
- Conceived and designed a new management information and new error detecting systems that increased efficiency, improved client communication and reporting, which resulted in reduced client attrition and increased revenue.
- Took direct control of the failing GradSchools.com development project, reset priorities that created the flexibility to change and adapt the business model, and successfully re-launched the site which resulted in significantly increased revenue.
- Refocused the sales group, achieving revenue targets, established minimum value benchmarks based on market rates, increasing revenue per click and eliminated unprofitable clients while increasing revenue and share of budget for the remaining clients.
- Streamlined operations for the international properties, combining sales staff and product management, reduced costs and increased productivity.
- Improved efficiency and cost effectiveness by developing metrics that identified over and under-served areas of the site which allowed on-line advertising to be targeted and effective and permitted sales to target new clients and raise prices.
- Eliminated inefficient and ineffective marketing efforts, reducing marketing costs while increasing marketing effectiveness.
- Improved communication and collaboration with web-site partner, reducing costs and increasing site effectiveness.
- Repositioned competing properties to address different segments of the market, helping to retain clients and grow revenue.
- Conceived and designed an ad management system that permitted the company to transform the business from a low growth flat fee model to a high growth activity based model resulting in a 36% increase in overall revenue and an 1850% increase in lead revenue the first year.
- Eliminated unprofitable and underperforming properties increasing profitability and reducing management distraction.
Vice President and Controller, Education Directories Unlimited (2004 to 2007)
Managed conversion of proprietary CRM system to NetSuite, a web based CRM and accounting system improving timeliness, accuracy and quality of financial reporting and improving client management. Created advertising inventory system. Converted company from cash-basis to GAAP improving quality of reported of operating results. Instituted budgeting process and departmental budgets that provided greater insight into profitable products and inefficient departments. Created and maintain monthly reporting process giving management greater control of the organization. Directed reduction and control of on-line advertising process. Assisted owners in tax planning upon sale of the company to EducationDynamics LLC
Marc J Stormes, CPA
Self-Employed Accountant and Business Consultant (2002 to 2004)
Clients included a planned web-based grocer (funding unsuccessful), a discount real estate brokerage and a development stage company researching fuel cell technology. Other services provided have included: Small business seminars for Philadelphia Development Partnership; reconciliation and analysis services for a leasing company; inventory reconciliation and analysis for a company implementing PeopleSoft; accounting system design and set-up for a networking contractor; personal, corporate and partnership tax return preparation.
AssetLine Holdings
Chief Information Officer (1999 to 2001)
Designed web site and underlying technology including relational database design and programming logic for this on-line heavy equipment auctioneer. Hired technical staff and developed site to appear in multiple languages including Japanese and Chinese which expanded the target market. Traveled to Japan and assisted in selling company to Japanese investor. Consulted with purchaser after acquisition and aided in transition of development and system maintenance to Tokyo
GMAC Mortgage
Vice President of Finance – Lending (1998 to 1999)
Directed finance staff for 350 branch mortgage network. Organized balanced score card analysis for the branch network improving quality of reporting. Redesigned the budget variance report to effectively highlight fluctuations due to volume and cost changes highlighting efficiencies. Produced target market identification methodologies for branch expansion purposes to increase profitability. Identified underperforming branches and recommended closure to reduce costs. Analyzed cost structure of top 10% of branches using regression analysis to create expense and revenue benchmarks.
Reliance Relocation Services (now “Leading Real Estate Companies of the World”) (1988 to 1998)
The company was originally part of The Travelers Mortgage Company, but was spun off as an independent company after being purchased by GE Capital in 1991. The company provides home finding, moving and other household relocation services to companies and individuals through its network of member real estate brokers and through services managed through headquarters.
(Held CFO, CIO and VP positions at the same time.)
Chief Financial Officer (1995 to 1998)
Designed accounting information system for the parent company and other subsidiaries. Developed an expense tracking business to influence and promote company expertise to outside clients and increase revenue. Negotiated banking relationships to secure financing. Reported results to the board of directors at quarterly meetings and to annual conference attendees. Prepared the financial section of the stock offering circular which resulted in a successful private placement. Managed design and implementation of all employee benefit plans including health insurance plans and 401k plan. Located, planned and negotiated contract to outsource property accounting function reducing costs. Managed relationships with business partners and negotiated contract terms. Presented business partner programs to network members in training programs nationwide which assisted in growing membership base.
Chief Information Officer (1995 to 1998)
In 1991, converted referral data entry system with an annual volume of 40,000 referrals from paper forms to a PC based distributed application integrating relational database and email improving timeliness and efficiency in referral processing. In 1995, oversaw the development of an integrated browser and PC based applications to accommodate multiple clients and business needs and take advantage of new technology to reduce costs. Wrote training manual and conducted regional training sessions to improve client adoption of new technology. Designed nationwide listing database to allow members place real estate listings on the Web or to link to their proprietary Web based listings increasing client value of membership. Managed project development staying within budgetary constraints and timeline. Identified and managed outside vendors for system development.
VP Operations, HomeOwner’s Advantage Division (1997 to1998)
Wrote the business plan for a start-up telemarketing division and initiated corporate operations including locating site, hiring staff, and designing systems. Negotiated client contracts and managed account relationships. Designed client programs including writing telemarketing scripts communication pieces, and training staff. Conduced training for client’s telemarketing staff to coordinate service delivery. Managed direct mail campaign generating a 7% response rate. Designed and implemented telemarketing and Web campaigns to generate leads. Designed a PC based system to record and manage leads developed by direct mail campaigns. Managed staff and set production goals. Made sales/marketing calls to new client prospects.
Director of Quality Control (1988 to 1991)
Coordinated the design of standardized accounting procedures amongst three regional offices to improve controls and operational efficiency. Studied, planned and implemented internal reporting and control routines for ancillary services. Provided financial projections and support of management team negotiating potential acquisitions. Conducted due diligence review of realty network purchased and merged with existing network increasing network 40%. Functional controller for ancillary services responsible for review of monthly financials and preparation of annual budget and monthly projections. Coordinated redesign of client contract system for conversion to Oracle relational database.
Eurotherm International
I was controller for two start-up businesses owned by Eurotherm, an UK based manufacturer of industrial control devises. RoboSystems was a leading developer and marketer of CAD-CAM software, and ICS provided HVAC maintenance services to governmental units.
Controller (1986 to 1988)
Prepared monthly reporting package, including management discussion and funding requirements, for UK parent. Developed annual plan and monthly projections for each company. Created separate company and consolidated tax return with other US based companies. Prepared multiple state tax returns. Developed financial section of bids to federal government.
Pleasant Valley Investments, Inc.
Controller (1985 to 1986)
Supervised staff of 5. Designed accounting system coordinating the recording and concentration of cash deposits amongst over twenty locations. Streamlined and improved management of disbursements. Prepared annual budget and tax returns.
Arthur Young & Company (Now Ernst & Young)
Senior Auditor (1983 to 1985)
Assignments included a major amusement park operator in central New Jersey, a major bank holding company in Philadelphia, the merger of several saving and loan associations, recapitalization of a development stage casino in Atlantic City, a fast food and amusement operator in southern New Jersey, a carpet manufacturer, and several not-for-profit organizations.
KMG Main Hurdman (Now KPMG)
Senior Auditor (1980 to 1983)
Assignments included savings and loan associations, an automotive parts manufacturer, a fine wood importer, a manufacturers rep, and preparation of corporate and personal tax returns.
EDUCATION, CERTIFICATIONS & AFFILIATIONS:
- Bachelor Science Degree, Fordham University, May 1980. 30 Graduate Credit Hours towards MBA degree, Drexel University
- CPA certification in New York and Pennsylvania. Passed CPA exam first sitting.
- Member Pennsylvania Institute of Certified Public Accountants and American Institute of Certified Public Accountants.
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