Shaping a New Kind of CFO 

When Lizzie Hoerauf, MBA 24, joined Berkeley Haas, she had a vision of what she wanted to do post-graduation. 

“My goal was to bring the finance and operations business acumen I gained from an MBA program back to organizations with missions I care deeply about,” says Hoerauf, who previsouly worked in environmental education at Yosemite.

At Haas, Hoerauf found her calling in the Impact CFO program, an innovative initiative designed to create a new generation of CFOs equipped to lead foundations, nonprofits, and other social enterprises. Last spring, Hoerauf was part of the inaugural cohort of 14 MBA students.

Founded by Adjunct Professor Nora Silver, the founder and co-faculty director of Haas’ Center for Social Sector Leadership (CSSL), along with Associate Professor Omri Even-Tov, also a co-faculty director of CSSL, Impact CFO offers a specialized curriculum that marries financial acumen with a focus on social impact. “Today’s social sector organizations need more than just accountants who can close the books,” Silver says. “They need strategic thinkers with an MBA-level understanding.”

Mentorship is a cornerstone of the Impact CFO program, and Hoerauf’s experience exemplifies this. She was paired with David Samuels, MBA 86, the CFO of REDF, an organization dedicated to creating jobs and opportunities for those facing significant barriers to employment. Samuels served as more than a mentor; he also employed Hoerauf on various financial projects during her second year at Haas, giving her invaluable experience. Through her internship (a key program feature), she applied insights from classes like Strategic Financial Management of Nonprofit Organizations and Social Sector Solutions to real-world situations.

After graduation, thanks to the connections of Even-Tov and Silver, Hoerauf worked as a finance intern at the Crankstart Foundation while also taking on projects as a grants manager at Shining Star Consulting, an accounting firm specializing in nonprofits. This experience ultimately led her to a full-time role as a financial analyst at the Exploratorium, whose CFO had been a guest speaker at a workshop for Impact CFO students.

Looking ahead, Even-Tov and Silver envision building one of the largest networks of finance professionals in the social sector within a decade. They are off to a good start with an inaugural network of 80 seasoned impact CFOs, many of whom are alumni. 

“We want the Impact CFO program to stand as a beacon, illuminating the path for future CFOs committed to making a difference,” Even-Tov says.