A Look Back

This is my final message in CFMA Building Profits as I have retired on August 1, 2023. It’s ironic that my final message is in the technology issue since anyone who knows me knows that technology is my Achilles’ heel. But as I exit, I’d like to reinforce how much I believe in continuous learning. I can’t promise I will become a tech expert, but I promise I will try to improve in this area. There is only one way for me to go, and that’s up!

So now it’s time for me to reflect on my legacy and some important changes I have been able to make that have had a significant impact on CFMA.

First and foremost, I am most proud of our efforts in the area of suicide prevention. I spent a considerable amount of time in the May/June 2023 issue reflecting on our accomplishments in this area. Suffice it to say, we have made incredible strides and accomplished much, but there is still more to be done.

The second accomplishment I am most proud of is the merger of CFMA and the Institute of Certified Construction Industry Financial Professionals (ICCIFP). We spent close to eight years trying to effectuate this change, as we firmly believed in the synergistic benefits to becoming one organization.

With the merger effective in 2021, it has indeed helped us improve the visibility of the Certification in the construction industry. A special thanks to Melissa Rutledge, CPA, CCIFP, who was the former ICCIFP Chair when the merger was finalized. It took a great deal of perseverance from Melissa while others questioned the initiative’s wisdom.

The third accomplishment I am most proud of is the launch and continuation of the Principal Partner Program. The concept, which stemmed from my experience at another construction association, was simple: ask partners throughout the industry to become Principal Partners and CFMA would highlight their accomplishments and provide exposure at CFMA’s Annual Conference & Exhibition and regional conferences. This has proven to be a win-win for CFMA and our two Principal Partners, Trimble Viewpoint and FORVIS, which have contributed more than $3 million to CFMA over the past 10 years and exemplified true partnership through their support.  

Some other contributions that I feel have also made a significant difference at CFMA include making Anirban Basu, who was already engaged with CFMA, our economic advisor. It has proven to be one of my wisest moves as Anirban is now recognized throughout the entire construction industry as one of the brightest and funniest minds we hear from on a regular basis. Thank you, Anirban, for your wit and your wisdom!

After attending a couple of our Annual Conferences, it occurred to me that there are many bright minds in our membership, and I wanted to bring the conversations from the hallway into the classroom. As a result, the small-, medium-, and large-firm roundtables were formed and, for the past eight years, have continued to be some of the most popular educational events at our Conference.

And, finally, I have always been focused on how to strengthen our chapters. When I arrived at CFMA, there were 13 chapter administrators, and I felt strongly that increasing the number of chapter administrators would strengthen our chapters and help recruit more local participation in our local boards of directors. Ultimately, with the support and guidance of past CFMA Chair Steve Tenney, we broadened the idea to strengthen our local chapters, which ultimately became the Support, Training, and Resources (STAR) Program. The STAR Program, a grant of $3,000 per year to eligible chapters, has given back $1.85 million to CFMA’s chapters since its inception in 2014. And, there are now 81 CFMA chapters supported by chapter administrators.

In closing, words cannot express my appreciation to all of you for your support and guidance over the past nearly 13 years. This has been a remarkable journey, and it would not have been possible without the support of so many of you.

Thank you, thank you, thank you! 

Copyright © 2023 by the Construction Financial Management Association (CFMA). All rights reserved. This article first appeared in July/August 2023 CFMA Building Profits magazine.

About the Author

Stuart Binstock

Stuart Binstock previously served as CFMA's President and CEO for over 12 years, retiring in August 2023. He has more than 25 years of experience in the construction industry, having served in key leadership positions in organizations such as AGC, AIA, and NECA.

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