You’ve seen some big changes over your time at the Science Center. What stands out as being the most significant?
The most significant changes I have seen work in tandem with each other: the establishment of diverse revenue streams to support Science Center operations, the expansion of mission-focused programming, and the transformation of our real estate business.
I have worked closely with our leadership team to develop a financial strategy that includes a diverse set of revenue streams, enabling us to ensure financial stability for the Science Center and its mission. The combined revenue streams from real estate, investment income, government grants and contracts, and advancement contributions have been strengthened in recent years so that we may successfully plan and implement a strategy to support the Science Center’s mission.
Having served as a CFO for early-stage life science and tech companies, I am proud of the advances the Science Center has made in developing and implementing programs that successfully support students, founders and entrepreneurs in this space. Programs such as Founders Fellows, Capital Readiness, and FirstHand provide much-needed training and connections for entrepreneurs to bring to market their products that are intended to improve quality of life.
The Science Center’s real estate business has completely transformed since I rejoined in 2016. The formation of a joint development agreement (JDA) with our partners Wexford Science & Technology and Ventas has enabled us to expand its footprint in University City by developing new buildings with state-of-the-art labs and offices, providing new space for our successful early- stage companies to expand while remaining in our community. The opportunistic sale of some of our owned real estate enabled us to establish a sizable investment portfolio, the returns from which provide a steadier and more reliable stream of cash flow to support operations.
What does the role of CFO mean to you?
To be a trusted and effective Financial Steward of the Science Center and its mission. This means not only implementing and enforcing the technical and compliance requirements of the organization’s financial and IT operations, but also in serving as a strategic partner to the ELT to ensure the Science Center is able to achieve its strategic goals while also sustaining efficient and financially-viable operations.
I believe a CFO is most effective when she/he is able to build strong relationships with the leadership team as well as staff organization-wide. Trust and integrity rank high with me, as a means for helping to guide strategic decision-making and to enforce compliance to protect the assets of the organization. This means being able to have candid and meaningful conversations across a myriad of issues, with the goal of working collaboratively across the organization so that decisions are made to advance the Science Center’s mission with the financial best interests of the organization in mind.
You left the Science Center and then came back – what inspired you to return? How did your time away help you better serve your role today?
Although I did move on to other ventures between the time I left in 2007 and returned in 2016, the key for me was that I never really felt as though I “left” the Science Center. The relationships I developed through the Science Center remained close -over the years and continued to foster my professional growth as a CFO.
I left in 2007 to become CFO for a start-up genomics company located in the Science Center Incubator, which had just landed a $5M Series A and $9M NIST grant, needing to hire a CFO “overnight” to help build the company and ensure compliance with investor and government requirements. Leveraging what I had already learned at the Science Center, the continued support I received in my new role from my Science Center colleagues and community enabled me to grow and navigate the company through a volatile economy, ultimately raising more government grants and a Series B to ensure the company’s continued success.
The role I served in before rejoining the Science Center in 2016 was as Chief Administrative Officer and CFO for Alex’s Lemonade Stand Foundation. This amazing journey to help the Co-CEOs build the foundation to almost double their revenues in three years, taught me how to lead a mission-driven organization and how to develop a strategic plan for fundraising. Most of all, I felt personally fulfilled as a cancer survivor, to see the impact our work had on childhood cancer research as well as the brave children and their families in their fight against cancer.
My return to the Science Center in 2016 was a dream come true. The CEO at the time, Steve Tang, had just launched a new strategic plan with a real estate JDA, expanded commercialization programming and a new fundraising campaign…and told me he needed a CFO who could serve as a strategic partner to the leadership team, as well as someone who “gets” the Science Center. Seeing how mission-focused the new programming was on commercializing healthcare, life sciences and technology – the very same support the Science Center provided to me as a CFO working in this space – gave me the chance to further leverage my skills and experience to help the Science Center embark on this ambitious journey. I am so proud of how far we have come and am equally inspired to see our many new plans unfolding!
What accomplishment are you most proud of during your tenure?
Without a doubt, I am most proud of the strong teams I have built and led in Finance, IT, Administration and Human Resources. All have been so key to the Science Center’s transformation and success over the last eight years. With a new strategic plan launched in 2016, the Science Center was required to build a strong foundation of organizational structure and culture, systems and internal controls to support its planned growth. I consider myself fortunate to have hired and now work with an incredibly talented and dedicated team across the functions I have overseen, who have embraced the changes the Science Center needed to make to implement new initiatives and financially sustain the organization.
You’ve recently joined the Board of Directors at UE LifeSciences. What is your relationship to the company and why is it significant that you joined their board?
Joining the Board of UE Life Sciences is an inspiring opportunity for me that is also very close to my heart! As a breast cancer survivor, I had been following UE and its iBreastExam at its earliest stages when its proof-of-concept plan was supported by the Science Center. Then I met the Founder and CEO at a Venture Café session, shared with him my passion for his cause and offered my support. The mission of this amazing organization - to make breast cancer detection equitable and accessible - resonates profoundly with me, since early detection at the age of 40 saved my life. I am both honored and inspired to be supporting this dedicated team of entrepreneurs, to provide guidance as a Board member as they expand their mission and develop and implement a strategic financial plan.
What do you enjoy doing when you’re not at the Science Center?
When I am not cheering on my beloved Villanova Wildcats, I love spending time with my friends and family, especially with my three godchildren. I am an avid gardener, including my fig tree that is third generation from my Grandfather’s hometown in Sicily. I love to travel and meet people of different cultures, with many places still left on my Bucket List!
What is your favorite thing about Philadelphia?
Philly has all the attractions of a Big City – Business, Sports, Theater, Dining, Art - while keeping that “Hometown” feeling and culture.
