We are so proud of one of our own.  JEGroup is proud to present our Financial Advisor, and Cousin Valerie Wheatley

Wheatley Knows The How Of The Y
2008 CFO Of The Year

When Valerie Wheatley, the CFO of Pittsburgh's YWCA, gets home at the end of the work day, she doesn't think about finances. She wonders if what she said that day made sense to those who heard it.

"I tend to go home and replay the day in interactions," she said.  It's not the technical stuff that Wheatley remembers, not the spreadsheets she scoured, not numbers she made fit. Not the organization's budget that she doubled during her seven-year tenure nor the endowment that grew from $17 million to $30 million during that time.  Instead, she may play back in her head an exchange with a board member that may sound something like this:

"I say, ‘This budget isn't balanced,' and she goes…," Wheatley cocks her head to the side and scrunches her forehead, imitating a confused look.  She plays it back again and again and considers the best way to unfurrow those brows in the morning.

Wheatley, whose co-workers describe her as deeply analytical, calls this approach her "due diligence."

"It's particularly important that the CFO maintain communication with us and offer us not just the numbers but the implications," said Mary Smith Peters, president of the board of directors of the YWCA. "We've been really blessed with her abilities."

It's the kind of mind set that came from Wheatley's childhood in the Mississippi Delta where her father, a community leader and college professor, peppered their evenings with word problems.

When the young student was done with her regular school work, Joe Wheatley would launch into these "when a train leaves the station" problems, she recalled. He would send her to a hypothetical store with $10 and ask her all of the steps that made her come home with $2.

Three decades later, Wheatley said her father's methods helped her succeed at what she thought she never wanted to be — a financial manager.  "I was going to be a lawyer because I was a big Perry Mason fan," Wheatley explained. "You know, he never lost a case.  And he was always the underdog."  In that spirit, Wheatley now works to empower the
underdogs. The mission statement of the YWCA organization is to eliminate racism and empower women and girls.

Wheatley was tapped to head YWCA's financial operations in Pittsburgh in 2001 by the organization's former CEO, Cecilia Golden.  When Golden left her position abruptly, Peters said the board relied heavily on senior staff to fill the gap.

Wheatley worked without a supervisor until Magdeline Jensen joined the organization as CEO in November.

"When I took the job, I quickly realized she has a financial system in place that can be sliced and diced any which way you want it," Jensen said. "You can get a 50-page report or a snapshot."  More than that, Jensen marveled at Wheatley's success during her tenure.  "She's forward-thinking," the CEO said.

When Wheatley started, the budget was $48 million. This year, it was double that, at $96 million.

Sometimes, during audit season, for example, that kind of success means Wheatley eats potato chips for lunch while walking from one office to the next.  But she doesn't seem stressed as she talks about her future goals: making sure the YWCA incorporates its empowerment and anti-racism initiatives into all aspects of its operation.

The question she keeps in mind is: "How do we walk the talk of what we encourage others to do?"

A few more questions for Valerie Wheatley...

Q: How are you staying financially innovative as a nonprofit to ensure a steady income during hard economic times?

A: In these times we really have to think out of the box. The YWCA is looking into a social franchise opportunity. We're not sure whether that would be a retail space or a Sylvan learning center run by the staff.

Investors like to hear about financial "self-determination." They look at our balance sheet, and they see we're not just asking for money. We're helping ourselves.

Q: What has been the response to that idea?

A: Mixed. It becomes a question of whether or not that's what a nonprofit should really be doing. You can do these things when you plan on feeding your programs, but there is a possibility of losing that tax-exempt status.

Q: What is something that might surprise people about your career path?

A: I've never applied for a job. Every move I made, someone came to me when I was at another job and asked me to join. You never know who's watching you. My whole life has been people see me and afford me these opportunities.

Q: What would be the title of a movie about your life? Who would play you?

A: "Humorous Calculations." At first I thought about "the shortest distance," but it's better as a book. Angela Bassett would play me. She always plays these really strong and powerful characters.

Valerie H. Wheatley
YWCA of Greater Pittsburgh
Age: 45
Education: Bachelor's from Tougaloo College, Tougaloo, Miss.; Master's from Syracuse University Maxwell School of Citizenship and Public Affairs, Syracuse, N.Y.

What others say: "She talks to us until we understand," said Mary Smith Peters, president of the YWCA board of directors. "And she's not afraid of speaking the truth."