For Immediate Release:
February 3, 2021
Contact: Samantha Lake
(slake@cfma.org; 609-945-2494)

Princeton, NJ — Construction Financial Management Association (CFMA), the only nonprofit organization dedicated to serving the educational needs of today’s construction financial professionals, is proud to announce that it has taken a significant step toward making the association more inclusive with the creation of a Diversity and Inclusion (D&I) Committee.

“The construction industry has been woefully inadequate in addressing diversity and inclusion. CFMA recognized the need to address this during the social unrest that occurred last year and created a D&I Task Force. This group was formed to provide diversity and inclusion recommendations to CFMA’s Executive Committee and to establish a sustainable D&I framework,” said Stuart Binstock, CFMA President & CEO.

The D&I Task Force has met biweekly since its inception on July 13, 2020 to build the foundation for CFMA’s D&I efforts. The Task Force worked hard to generate awareness for D&I through the development of content for CFMA Building Profits magazine, Bottom Lines enewsletter, Voices of CFMA podcast, and Chat with the Chairman web series. Additionally, CFMA joined the CEO Action Pledge, created a session for its 2021 Annual Conference & Exhibition, and began the process of creating a business case for D&I.

“Five years ago, when CFMA led the advocacy of suicide prevention throughout the construction industry, we recognized that promoting it as the right thing to do was not sufficient; we needed to make the business case for companies to pay attention to this issue. We are taking that exact same approach when addressing the topic of diversity and inclusion. Through the business case, our goal is to demonstrate the positive financial impact a D&I program will have on construction companies. CFMA will then provide education and resources to help them make those programs a reality,” noted Binstock.

On December 11, 2020, CFMA’s Executive Committee unanimously voted to develop the D&I Task Force into a Committee effective April 1, 2021. Until then, the Task Force will continue its work to increase diversity, inclusion, and cultural education for CFMA’s members and their companies.

Bruce Orr, Founder and Chief Data Scientist of ProNovos, an Atlanta-based construction data analytics firm, will Chair the committee.

“I have always felt warmly welcomed at CFMA events, whether at the local, regional, or national level, and I know that our members’ hearts are in the right place,” Orr said. “At the same time, it’s not unusual for me to be one of the very few people of color in the room. As with the broader construction industry in general, CFMA could benefit vastly by bringing in more diverse voices and perspectives. I’m thrilled and honored to be a part of making that change.”

About CFMA

Founded in 1981 and headquartered in Princeton, NJ, CFMA is an individual membership organization and the only association dedicated to bringing together construction financial professionals and those partners who serve their unique needs. For 40 years, CFMA continues to provide invaluable resources and education to its more than 8,300 members and 99 chapters across North America. To be essential to the growth and success of construction financial professionals. Visit www.cfma.org for more information.