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nProfit began as an independent consulting firm in 1999, when Steve Wafer left Merrill Lynch. A resume for Steve, nProfit's professional specializing in providing balance sheet management to not-for-profit organizations.

Steve Wafer
Mr. Wafer first joined Merrill Lynch's Public Finance Group in 1985 and worked for a variety of issuers throughout the country.

After attending graduate school, Mr. Wafer re-entered the public finance industry where he worked at Goldman, Sachs & Co. as a generalist focused in the mid-west, but specializing in capital market applications.

Later, Mr. Wafer worked for Nuveen, where he managed the Capital Markets Group that was responsible for all risk management applications and products for both external and internal applications. While at Nuveen, he worked across issuers—health care, higher education, cultural institutions, power, and general municipal—to help each manage their financial risk and lower their financing costs through the use of capital market products and risk management tools. Internally, Mr. Wafer developed Nuveen's municipal hedging program and analyzed applications for Nuveen's funds.

Mr. Wafer rejoined Merrill Lynch in 1997. In 1999 Mr. Wafer formed his own company, nProfit, LLC.

In 1985, Mr. Wafer received a BA in Economics from Northwestern University and, in 1990, an MBA from the Amos Tuck School of Business at Dartmouth.

Steve has worked on over 40 not-for-profit related balance sheet management programs.

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