Douglas E. Wood
"Make a decision – right or wrong – and learn from it. Just make a decision."
Douglas E. Wood, CPA, CCIFP, CGMA joined Herbein in 2002. Doug is a Certified Construction Industry Financial Professional (CCIFP), Chartered Global Management Accountant (CGMA) and was Treasurer/CFO for a conglomerate of construction companies, partnerships and joint ventures in the Reading, PA area. In addition to his day to day financial duties over this nine year period, he coordinated insurance/bonding, human resources/benefits, review of contracts, and other administrative duties. During this time, he built an extensive background in financial skills with an operations twist.
Doug has a specialization in performing cost segregation studies for new construction and renovation projects. Doug has completed more than 50 component depreciation or cost segregation studies over the past two years with aggregate costs ranging from $200,000 to $18,000,000 and total construction costs to date exceed $130 million. These studies resulted in estimated tax savings (net present value) for clients ranging from $12,000 to $1,600,000 and total approximately $6.7 million. These projects included a golf course, several supermarkets with retail units, bank branch offices, several office buildings, warehouses, manufacturing and dairy processing plants, assisted living facilities, medical offices, and an ambulatory surgical facility.
Education and Certifications
- Elizabethtown College – B.S. Degree in Accounting
- Certified Public Accountant (CPA) – Commonwealth of Pennsylvania
- Certified Construction Industry Financial Professional (CCIFP) – The Institute of Certified Construction Industry Financial Professionals
- Chartered Global Management Accountant (CGMA) – AICPA
- Allinial Global – Firm Member
- American Institute of Certified Public Accountants (AICPA) – Member
- Associated Builders & Contractors Keystone Chapter – Member
- Construction Financial Management Association – Member; Greater Berks – Lehigh Valley, PA Chapter – Founding Member and President (2009-2011 & 1998-2000); former National Membership Task Force Co-Chair; former National Chapter/Membership Growth Task Force Co-Chair
- Hawk Migration Association of North America – Member; former Treasurer
- Pennsylvania Institute of Certified Public Accountants (PICPA) – Member; Construction Industry Conference Committee – Chair (2012-2014)
- The Institute of Certified Construction Industry Financial Professionals – Member
Doug enjoys all outdoor activities. He is an avid birder and amateur naturalist. Doug volunteers with Hawk Mountain Sanctuary and has over 25 years of experience with the fall hawk count on North Lookout and other areas along the Kittatinny Ridge. Doug is also the firm’s wine geek and uses his vast knowledge and experience to educate others on how to best spend their disposable income!