MARC PALKER NAMED IMA CHAIR-ELECTBy
Marc P. Palker, CMA, has been named IMA® Chair-Elect for 2015-2016, which means he will be IMA Chair for 2016-2017. The IMA Global Board of Directors announced Marc’s nomination on February, 21, 2015, and members had 30 days after that to nominate other candidates. At the end of the 30-day period, a unanimous ballot was cast, so Marc will become the new Chair-Elect July 1, 2015. As Chair-Elect, he will be a member of the Governance Committee and will chair IMA’s Planning and Development Committee.
Marc is a principal at MPP Associates, Inc., a boutique consulting firm in South Huntington, N.Y., that specializes in providing CFO services. In this role, Marc serves public, private, and not-for-profit corporations as a part-time or interim CFO. Prior to that, he was a director at CFO Consulting Partners, LLC on Long Island, N.Y., where he helped update internal controls, testing, and management reporting. There he also held interim and part-time CFO positions, performing pre-audit work, Sarbanes-Oxley Act testing, and mentoring senior financial officers.
In addition, Marc has just completed three years as the CFO of Dataram Corporation of Princeton, N.J., a manufacturer of high-quality computer memory and software products. His responsibilities there included managing the finance function–including all Securities & Exchange Commission (SEC) reporting–product costing and selling prices, cost reduction program, and distributing licensed AMD (Advanced Micro Devices) branded products. Marc also raised more than $5 million in capital from sales of equity securities, a sale and leaseback transaction, and asset-based financing.
When he was growing up, Marc wanted to be an engineer because he liked to build things–more importantly, take them apart. But that changed when he took the SATs and realized his love of numbers. So he sought a college that specialized in accounting: Rider University. He graduated from Rider in 1973 with a B.S. degree in accounting. Then, instead of becoming a CPA (Certified Public Accountant), he earned an MBA degree in finance in 1978 from St. John’s University. To further his education, Marc earned his CMA® (Certified Management Accountant) credential in 1992 after being encouraged by former IMA President Ernie Huband.
As a young professional, Marc was hired out of college as a subsidiary accountant at JCPenney Company, Inc. His boss was very active in the IMA New York Chapter and encouraged Marc to join the organization. Then, in 1974, Marc opened his own tax practice to support his interest in tax. In addition, he became an RTRP (Registered Tax Return Preparer) in 2012. He still maintains his tax practice today and serves clients from across the United States.
Marc has held various roles ranging from international accountant to vice president of finance. His first CFO position was in 1988 at Firetector, Inc., a fire-safety company based in Hicksville, N.Y. Among his proudest accomplishments there were his introduction of a 401(k) plan with nearly 100% participation; a 500% increase in profits at the Dallas, Texas, subsidiary he supervised; and his assistance in negotiating, completing, and managing three acquisitions.
In 1996, he joined MPP Associates as a principal, where he successfully served as a consultant for a start-up Internet company, a NASDAQ-listed specialty food company, a $400 million multinational conglomerate, and a NASDAQ high-tech bulletin board company. Then, in 2000, he moved to Windswept Environmental Group, Inc., as vice president of finance and administration. After that, he accepted a position at Madison Davis Professional Services, LLC as managing director, where he continued his work with SEC reporting and SOX implementation.
An IMA member since 1975, Marc was elected to IMA’s Global Board of Directors in July 2011. Throughout his career, he has held positions on IMA’s Member Relations Committee, Volunteer Leadership Committee, Planning and Development Committee, and Nominating Committee. He also has served as National Vice President, National Director, and National Committee Chair on IMA’s board. He is still an active member of IMA’s Long Island Chapter.
Marc also has been very involved with his community. In 1973, after college, Marc came home to Glen Oaks. The neighborhood little league he used to play in decided to start a men’s club and fund it–Marc was made the treasurer. But they didn’t know how to spend the funds. So, because of the confines of New York City and, subsequently, the slow response time of ambulances, the men’s club decided to fund an ambulance corps. All of the members of the club took certification classes of some kind–either EMT, first aid, or driver training–to support the group.
He also is a former board member of the Coalition against Child Abuse and Neglect, the Foundation Fighting Blindness, and the Long Island chapter of the Turnaround Management Association. In addition, he is a past president and current board member of the Accountant/Attorney Networking Group and current treasurer of the Huntington Arts Council.
Marc met his wife, Laura, when they were both board members of the Foundation Fighting Blindness. In 2001, they worked on the same committee to put together an annual event for the Foundation–and the rest is history. They were married on November 16, 2003. Marc has two children from a previous marriage, Audra and Jonathan, and a stepdaughter, Candi.
FAST FACTS ABOUT MARC
Principal at MPP Associates, Inc.
South Huntington, N.Y.
Marc will be the third Chair of IMA from Rider University. The other two were Clair Raubenstine and Bud Kulesza.
For his first tax return, Marc charged his client $6. Now he does more than 200 returns per year.
Marc has been an avid golfer since he was 10 years old. He plays as often as possible.
Marc and Joe Vincent were “classmates” on the IMA Board of Directors in 1994-1995.
Notice of Annual Meeting
To members of the Institute of Management Accountants: Notice is hereby given to all members of IMA that the Annual Meeting of the Institute will be held Sunday, June 21, 2015, at the Westin Bonaventure in Los Angeles, Calif., to transact such business as may properly come before the meeting.