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|June 10, 2011|
|Doe Fund Announces Revamped Management|
John McDonald promoted to newly established post of Chief Operating Officer
Marion Kowalski to be the new Chief Financial Officer
NEW YORK/PRNewswire -- George T. McDonald, Founder and President of The Doe Fund, announced a series of management changes designed to position the 25-year old organization for its next phase of development.
"For over two decades, John McDonald has proved his worth to The Doe Fund and to the individuals we serve. Leaving a lucrative career in the finance industry, he joined The Doe Fund as our Chief Financial Officer in 1990, and has worked tirelessly to ensure that our last two decades of exponential growth have been accomplished smoothly and cleanly," said George McDonald. "Based on his excellent track record of managing The Doe Fund's finances - and maintaining the highest standard of excellence while doing so - he has earned the post of Chief Operating Officer. I am pleased to say that, under his leadership, we have not been subject to any negative inquiries into our business and financial practices." John McDonald joined The Doe Fund staff in 1990, the same year the organization launched its flagship paid transitional work program, Ready, Willing & Able, designed to help formerly homeless and formerly incarcerated individuals rejoin the mainstream workforce. At that time, The Doe Fund's annual operating budget was less than $1.5 million. Today, The Doe Fund's annual operating budget is $50 million.
During John McDonald's tenure, The Doe Fund has held multiple government service contracts, and has launched and operated several social entrepreneurial businesses, resulting in the organization earning approximately $600 million in revenue since 1990.
Of that amount, $200 million has been paid in the form of wages to the "men in blue" of Ready, Willing & Able, who can be seen every day cleaning 150 miles of New York City streets in their trademark bright blue uniforms. This paid transitional work is coupled with comprehensive support services, helping thousands of individuals end cycles of homelessness, criminal recidivism, and substance abuse.
Taking the post of Chief Financial Officer is Marion Kowalski.
"Marion is personally familiar with the finances of The Doe Fund from her long tenure at the accounting firm of Buchbinder Tunick and Company, which for many years served as The Doe Fund's independent audit firm," Mr. McDonald said. "She will be able to step into the CFO position without missing a beat, and her 20 years of public accounting expertise will be an excellent addition to our operations," he added.
Kowalski holds a Bachelors degree in Mathematics from N.Y.U. and a Master of Science degree in Accounting from Long Island University-C.W. Post Campus.
About The Doe Fund
Participants of The Doe Fund's flagship Ready, Willing & Able program - known affectionately as the "men in blue" - can be seen each day in their signature bright-blue uniforms cleaning 150 miles of New York City streets and sidewalks.
All once homeless or incarcerated, they are paid above the minimum wage for transitional employment that represents the core of the program, and is accompanied by a comprehensive service and training package. So far, 4,500 individuals have graduated from the program with full-time, permanent employment, independent housing, and their sobriety.
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