When Tom Monks came to Ellis in November of 2001, he couldn’t imagine the changes he’d see over the 22 years he spent as Director of Finance. On the doorstep of retirement, Tom has now looked back with satisfaction at the growth he helped Ellis achieve.
“I’ve always worked at nonprofits because I needed to work somewhere that is meaningful and that makes a contribution to society,” Tom says. He is proud to have supported the critical work of educating children from birth to age five and contributed to the stability Ellis provides to families in need.
Before Tom arrived, the previous CEO, Leo Delaney, had to rescue Ellis from the brink of closing. Tom recalls Leo saying, “Ellis finances were in such bad shape that it wasn’t making its payroll. I filed for bankruptcy, fired the board, and eventually turned the place around.”
When Tom arrived, Ellis was out of bankruptcy and on firmer financial footing. Ellis owned one building at 66 Berkeley, housing early education and after-school programs. Ellis leased space at 95 Berkeley for its Infant and toddler and Adult Day Health Programs and administration offices. Around 2008, Ellis learned that 95 Berkeley would be sold, and tenants would have to move after the sale.
Good news quickly followed bad. Fortunately, Leo heard that the building at 58 Berkeley was going up for sale. He saw an opportunity and pounced. Abandoned for over ten years, the property needed extensive renovations to bring it back to life. Tom worked with Leo to secure loans, launch a capital campaign, and establish working relationships with lenders, contractors, and state offices. Tax credits were available to help pay for renovations, but Ellis needed to create two for-profit entities to qualify for the credits and to pass a final cost certification to be paid. Tom’s learning curve was steep.
“I had never done these things as a nonprofit accountant,” Tom says now. “But I had excellent help to guide me through the learning experience.” Leo and Tom had a project manager who had worked on similar redevelopment projects and a law firm to steer the organization through the legal complexities.
The hard work succeeded. After 18 months of renovations, 58 Berkeley opened in October 2012. “That success allowed us to start a second capital campaign in 2016 to renovate 66 Berkeley,” Tom says. When 66 reopened in 2017, Ellis effectively had two brand-new buildings. These projects gave Tom the gratification of feeling part of something bigger than himself.
Tom didn’t start out to be an accountant. With an undergraduate degree in psychology, he found a part-time accounting job and discovered that he had a knack for the work. From there, Tom learned on the job, first at the Franciscan Children’s Hospital in Brighton and then at Volunteers for America. His studies in psychology undoubtedly supported his nonprofit accounting work in subtle ways. Tom always linked his financial work with a meaningful human element.
Tom has passed the finance baton to Daniel Lachar, a trained accountant with an MBA and 15 years of experience. Tom is confident that Daniel will be the right-hand person needed to realize CEO Lauren Cook’s visions for the future. “Lauren is a dynamic leader and an advocate for early childhood education with close ties to local power centers. Lauren and Daniel will be a strong team for the next phase of Ellis’s growth.”
In parting, Tom says, “I want to thank all the staff, past and present, for the wonderful memories over the past two decades. The work you do for children from all socio-economic backgrounds does so much to level the playing field. My love to all, with warm wishes for much health and happiness!”
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