Joyce Behrend receives CFO of the Year Honors
Written by Admin | October 27, 2014 | In The News
Joyce Behrend, chief financial officer of Independent Living, Inc., was named 2014 CFO of the Year in the nonprofits category by In Business magazine. Behrend was nominated by CEO Rita Giovannoni in a coordinated effort that included testimonials from audit firm Wegner CPAs and former board president Ted Waldbillig.
Behrend, who has served as CFO since joining ILI in 2005, is credited with changing the organization’s approach to cash management that improved operating reserves and cash flow. As a result of Behrend’s fiscal oversight, ILI is more financially secure today than ever, says Giovannoni. Between 2006 and 2014, ILI experienced 275% growth in its cash position, 7.3% growth in gross revenues, and 275% growth in net income.
One of the unique aspects of the organization is that it is a nonprofit comprised of seven corporations in three core business areas:
- ILI’s 10 in-home service and care programs for older adults and their families (organized as one corporation),
- 3 senior living communities located in Sun Prairie, Fitchburg and Madison totaling 202 units of housing (organized as four separate corporations),
- Tennyson Senior Living Community currently under development on Madison’s north east side (organized as one corporation), and
- Medicare-certified home health agency that provides nursing, physical, occupational and speech therapy (organized as one corporation).
A 1981 graduate of the UW Madison School of Business, Behrend has held her CPA license since graduation. She and her husband Jim, also a CPA, have three sons, one of whom also is a CPA.
Pictured above is Joyce Behrend (left) with Rita Giovannoni. Pictured below are 2014 CFO of the Year honorees. From left, Bruce Berndt with Berndt CPA (Small Business category); Joyce Behrend; Steve Hetzel with UW-Extension Business Services for Continuing Education, Outreach and E-Learning (Public Organization category), Tim Stadelman with J.H. Findorff & Son (Large Business category), and Marla Frank with Frank Productions (Medium Business category).