PCSD

PCSD Interns: Driving Impact and Empowering Education: Insights from Rob Nickell, Executive VP at HJ Sims

August 4, 2023 by PCSD

In the ever-evolving landscape of finance and investment, some firms stand out for their unique approach and unwavering commitment to making a positive impact. HJ Sims, a boutique investment firm founded in 1935, is one such company. Recently, our interns had the privilege of speaking with Rob Nickell, the Executive Vice President at HJ Sims. Rob shared his experiences, insights, and passion for working in the finance industry, particularly in the realm of education and non-profits. Let’s delve into the fascinating journey of a seasoned professional who finds fulfillment in transforming the educational landscape and serving the greater community.

A Legacy of Excellence

HJ Sims’ rich history spans nearly a century, and its continued success can be attributed to its commitment to personalized service and dedication to its clients. As a family-owned business, it embraces the values of integrity, trust, and long-term vision. The current CEO, the son of the founder, carries forward the legacy of the firm and its mission to create value for its clients and the community.

A Specialized Approach

HJ Sims proudly focuses on wealth management, investment banking, and institutional services. A unique aspect of the firm is its dedication to specialized services. An essential part of HJ Sims’ identity is their education practice, which they established 25 years ago. Through this initiative, they have made significant strides in supporting schools, especially charter, independent, and private schools, as well as higher education institutions.

Rob Nickell: A Visionary Leader

Based in Dallas, Rob Nickell spearheads HJ Sims’ endeavors across the western United States, from Texas to California. As a co-leader of the education finance practice, he plays a vital role in securing financing for schools to construct and establish permanent homes. His mission is not just about securing funding but doing so in a cost-effective manner.

Drawing from a diverse background

Rob’s journey to his current position is a testament to the importance of a well-rounded education and diverse experiences. Graduating from Emory with a degree in finance and technology and a minor in philosophy, Rob’s education laid the foundation for his future achievements. His initial foray into the finance industry led him through various roles at both large and small firms, ultimately leading him to public finance, where he found his niche in the education and nonprofit sectors.

A Passion for Impact

Rob’s dedication to his work is evident in his passion for investment banking, which he finds stimulating and rewarding. But what truly sets his career apart is his ability to leverage his expertise for the betterment of the community through his work with educational and nonprofit institutions. By facilitating financing for schools, he plays a pivotal role in shaping the future of countless students, ensuring they have access to quality education and resources.

Building and Nurturing Relationships

Throughout his career, Rob emphasizes the importance of relationships as the bedrock of his success. By investing time and effort in understanding the needs and aspirations of his clients, he has forged strong and enduring partnerships that have proven instrumental in achieving mutual growth and success.

In an industry where profits often take precedence, HJ Sims and its Executive VP, Rob Nickell, serve as a shining example of how finance can be a force for good. Through their specialized approach and dedication to educational and nonprofit finance, they create meaningful impact and empower communities to thrive. Rob’s journey reminds us of the significance of building diverse skills, finding a passion that aligns with our values, and prioritizing meaningful relationships.

PCSD Interns: Exploring Public Finance: Lunch and Learn with John Kim at Stifel

July 28, 2023 by PCSD

Recently, we had the privilege of sitting down with John Kim from Stifel during a lunch and learn session. Stifel is a publicly traded firm renowned for its expertise in corporate finance, commercial banking, public finance, and asset management. Our association with Stifel revolves around the financing of various charter school facility projects, a partnership that has yielded great results.

The session began with John sharing some invaluable takeaways for our interns, emphasizing the importance of effective communication and active listening. He encouraged interns to take diligent notes and reflect on specific insights gained from their experiences in different roles during their internships.

Charting his own career

John then took us on a journey through his own career path. Hailing from Palos Verdes, he attended public school and became the second generation in his family to pursue higher education. From a young age, he learned about customer service while working at his father’s gas station. While studying at UC Berkeley, he initially aspired to attend medical school and pursued a degree in Molecular Biology and Rhetoric. However, life’s twists and turns, along with some inspiring history classes at UCLA, led him to reevaluate his career goals, ultimately majoring in History and Rhetoric at UC Berkeley.

Following his undergraduate studies, John taught high school in Berkeley and contemplated the idea of going to graduate school. However, a conversation with his sister proved pivotal as he found his calling in the world of finance. He embarked on his 26-year journey with Stifel in Los Angeles, where he has made significant contributions to the company’s success.

Stifel and the world of finance

During the session, John delved into Stifel’s expertise in four key areas and shed light on how lending works in the world of finance. He emphasized the crucial information required to secure a loan and why someone might lend to you. In his domain of public financing, and in other areas, a well-prepared prospectus (or story book) is essential when approaching potential investors. The prospectus presents all the relevant facts and information investors need to know and conveys a compelling narrative. John’s work in public finance involves raising capital for various government entities, including states, counties, cities, school districts, nonprofits, and charter schools. These entities can obtain funding by issuing bonds.

It’s worth noting that while the public finance division at Stifel comprises a relatively small team of 250 employees, the asset management division boasts a workforce of 8,000. Despite its size, the public finance division plays a crucial role in the financial ecosystem, and John actively markets to credit analysts at prominent investment management firms.

Investing in charter schools

The lunch and learn session concluded with a thought-provoking video presentation on STEM Prep, a Los Angeles-based charter school and a valued partner of PCSD. The video highlighted the positive impact of partnering with charter schools, illustrating how such collaborations can benefit the community, students, and education as a whole.

In closing, the lunch and learn with John Kim from Stifel was an eye-opening experience that shed light on the multifaceted world of finance and the importance of adaptability in one’s career journey. John’s personal story serves as a reminder that career paths are rarely linear and that the ability to seize opportunities and reevaluate goals can lead to fulfilling and successful outcomes. We are grateful for the insights shared during this session and look forward to continuing our partnership with Stifel in making a positive impact in the education sector.

PCSD Interns: Unveiling the World of Accounting: Lunch and Learn with Lili Huang, Principal of CLA

July 26, 2023 by PCSD

In the world of finance and business, accounting plays a pivotal role in ensuring smooth operations, financial stability, and compliance. Recently, we had the privilege of meeting Lili Huang, Principal at CliftonLarsonAllen (CLA), during a lunch and learn session. CLA, renowned for its expertise in auditing, consulting, tax, and wealth advisory services, has been our trusted auditing firm. Lili’s journey in accounting, her commitment to diversity, and the significance of accounting in various sectors left us enlightened and inspired.

A Path Paved with Passion

Lili opened the lunch and learn by sharing her personal career journey, which began with a high school internship at an accounting firm. This experience ignited her passion for accounting and set her on a path that spans more than 18 years in the industry. Even during her college years at UCSB, Lili continued her internship at the same firm while earning a degree in economics with an emphasis on accounting. This early exposure cemented her dedication to the field and laid the foundation for her subsequent success.

Championing Change and Diversity

As a member of the board of CalCPA, Lili is actively involved in initiatives that aim to change the perception of the accounting profession. Breaking stereotypes and promoting diversity is a primary focus for the organization and Lili herself. By encouraging underrepresented groups to pursue accounting careers, she hopes to create a more inclusive profession and organization.

Navigating the Career Ladder

Lili shed light on the various job levels within CLA, from associates to managers/directors, and ultimately to principals like herself. Her commitment to mentoring and guiding her colleagues fosters an environment of growth and development. Providing employees with opportunities to flourish in their careers, Lili exemplifies true leadership and support in the workplace.

The Nitty-Gritty of Accounting

During the session, Lili delved into the different aspects of accounting, demystifying some of the most fundamental concepts. From understanding the nuances of debit and credit to deciphering the differences between accrual and cash accounting, her presentation was insightful for both accounting novices and veterans.

Power of Auditing

A significant part of Lili’s work revolves around auditing nonprofit organizations and charter schools. She highlighted the critical role audits play in ensuring transparency, accountability, and compliance within these institutions. Through thorough examination and validation of financial records, audits safeguard the interests of stakeholders and contribute to the overall integrity of organizations.

Embracing Taxation

Finally, Lili touched upon the complex world of taxes. She explained how meticulous tax planning and compliance are essential for businesses and individuals alike. Understanding the intricacies of tax regulations can help organizations optimize their financial strategies and minimize tax liabilities.

Our lunch and learn with Lili Huang, Principal of CLA, was both educational and motivating. Her passion for accounting, dedication to promoting diversity, and commitment to mentoring others left a lasting impression. As we reflect on the invaluable insights she shared, we are reminded of the indispensable role accounting plays in shaping the financial landscape of organizations and society as a whole.

PCSD Interns: Building Dreams for the Future: Exploring EPI Construction’s Charter School Construction Project in South Los Angeles

July 21, 2023 by PCSD

Recently, we had the privilege of meeting with Gary Blackwell, the visionary behind EPI Construction, at one of their charter school construction sites in South Los Angeles. There, we were introduced to Eric Marable, the dedicated Site Supervisor, who has been an essential part of Gary’s team for nearly 25 years. The construction project is aimed at providing a state-of-the-art educational facility for a middle school, catering to grades 5 to 8. As we embarked on a comprehensive tour of the site, we were left in awe of the passion and attention to detail displayed by both Gary and Eric.

The tour began at the drop-off and pick-up zone, where we were welcomed by captivating building mock-ups, crafted by Eric himself, utilizing his background in art and design where he honed his skill at Otis College of Art & Design. Eric enthusiastically explained the layout of the project, which utilized both in-house staff and subcontractors, ensuring the school’s completion with utmost efficiency.

Eric’s expertise guided us through the construction process, highlighting significant milestones such as the creation of a subterranean parking garage, dedicated to teachers and staff. This parking structure serves as one of the initial stages in projects like these. Another notable feature was the incorporation of water tanks to harvest rainwater, nurturing the school’s landscape and minimizing runoff onto the streets.

Timing and Challenges

One intriguing aspect of our conversation with Eric was the strategic timing required for ordering various items, with some taking up to 12-18 months to arrive. From elevators to lighting fixtures and electrical panels, meticulous planning is essential to ensure a seamless construction process and timely completion.

Exploring the School

As we ascended through the school, starting from the subterranean garage to the first floor, we were impressed by the administrative and lobby spaces. Moving up to the second floor, we marveled at the abundance of natural light flowing into the 20+ spacious classrooms through large windows, creating a conducive learning environment. The third floor offered additional classrooms, featuring sunroofs in the hallways.

Our journey concluded on the rooftop, where we were treated to a breathtaking view of Los Angeles, including the vibrant downtown area. Here, we learned about the roofing materials’ evolution over the years, transitioning from asphalt to a reflective white material that effectively dissipates heat.

Impactful Insights from Gary Blackwell

Following the tour, Gary generously shared his personal journey, inspiring us with his career trajectory. Initially pursuing pre-med, an internship at a hospital led him to reevaluate his path. Gary emphasized the importance of exploring various experiences and internships to discover one’s true calling. Through perseverance and hard work, he found his passion in construction, establishing his own firm, Blackwell Construction, before acquiring EPI Construction, and eventually his third company, BDI Construction.

Our day with Gary Blackwell was both insightful and inspiring. Witnessing the dedication and expertise in constructing a modern educational facility left us with a profound appreciation for the construction industry’s transformative power. The upcoming charter school is set to enrich the lives of students, teachers, and the community, creating a lasting impact for generations to come. We are grateful for the opportunity to have shared this remarkable experience and look forward to witnessing the fruition of their efforts as the 2023-2024 school year approaches.

PCSD Interns: Navigating Charter School Finance: Insights from a Day with Brian Holman at MusickPeeler

July 19, 2023 by PCSD

In today’s rapidly evolving world, the digital age and the pandemic have caused significant shifts in the work environment across industries. In the realm of charter schools, understanding their financing options is crucial to their growth and success. Recently, we had the opportunity to meet with Brian Holman, a partner at MusickPeeler LLP, specializing in charter school finance. Our day was packed with insightful experiences, from exploring the changing landscape of MusickPeeler’s offices to diving deep into a Charter School Finance 101 presentation. In this blog post, we will share our key takeaways and what we learned about putting together a successful charter school facility finance structure.

The Changing Work Environment

We kicked off our day with a tour of MusickPeeler LLP’s offices in downtown Los Angeles. Amidst the digital age and the pandemic, we observed the impact on their workspace. Numerous bookshelves stood nearly empty, a testament to how much information has migrated online. Nevertheless, the library still held a collection of valuable reference books, specifically focusing on various court cases.

Charter School Finance 101

Returning to PCSD’s offices, Brian Holman commenced his presentation on Charter School Finance 101. He began by discussing the different financing sources available to charter schools, ranging from donations to hard money loans. As nonprofits, charter schools have access to various types of donations, including contributions from individual donors and both private and public grants. We delved into an overview of financing sources like New Market Tax Credits, bond financings, bank and institutional loans, as well as federal and other government loans.

Building a Charter School Facility Finance Structure

One of the most valuable aspects of our day with Brian was gaining a clear understanding of the process of building a charter school facility finance structure. Through visual aids and insightful explanations, we were able to grasp the complexities involved. Brian concluded the presentation with some indispensable facility financing tips, emphasizing the importance of keeping one’s legal matters in order, involving legal counsel early in the process, thoroughly reading all agreements, and staying vigilant to avoid legal pitfalls.

Real-Life Example: A Charter School Facility Financing Deal

After lunch during which we learned more about Brian’s background and his journey into the legal field, we delved into an illustrative example of a charter school facility financing deal. We reviewed term sheets, loan agreements, and various loan documents, gaining valuable insights into how different parties collaborate throughout the process. It was fascinating to see how a charter school financing deal typically unfolds over 3-5 months, requiring careful attention to detail and collaboration among various stakeholders.

Understanding Corporate Organizations

To round out our enlightening day, we explored the different types of corporate organizations. Sole proprietorship, partnerships, corporations, limited liability companies (LLCs), and nonprofits all offer distinct advantages and disadvantages. Understanding these options can play a vital role in shaping a business’ structure.

Our day with Brian Holman at MusickPeeler LLP provided us with invaluable insights into charter school finance. Understanding the various financing sources available to charter schools and the process of building a successful charter school facility finance structure is essential for their growth and sustainability. We extend our sincere gratitude to Brian for sharing his expertise and making this day an enlightening and enriching experience.