Rachael Jarosh, president and CEO of Springfield-based Enactus since 2016, is stepping down from the organization.
The international academic and entrepreneurial nonprofit announced in a news release that Jarosh would leave her role in June. An official with the organization could not be reached for comment immediately by deadline on the reason for her exit.
"Thanks to Rachael’s leadership, Enactus is now poised for exponential growth," Enactus board Chair Gonzalve Bich said in the release. "Amid an extraordinarily dynamic environment, Rachael strengthened the Enactus mission and financial model, and created vital new partnerships while simultaneously expanding Enactus’ role as a leading youth development and entrepreneurship organization."
Enactus’ budget was roughly $20 million when Jarosh started in 2016, according to past reporting.
The organization had $10.7 million in assets at the end of 2019, according to a financial report on its website. The nonprofit, which organizes teams of college-level entrepreneurs creating community development projects and student competitions, works with some 72,000 students to impact 1.3 million lives annually, the website indicates.
The Enactus board is working with Jarosh to identify a successor, according to the release. The board launched a search committee and hired an executive search firm for the process.
Prior to Jarosh, Alvin Rohrs served in the top position for three decades.
The president and CEO role was compensated roughly $348,000 in 2019, when Jarosh held the spot, according to Enactus’ latest Form 990 on file with the IRS. According to nonprofit ratings site CharityNavigator.org, Enactus has a 75.9 rating on a 100-point scale, based on fiscal 2019 data, the most recent available through tax filings. Enactus’ rating peaked at 90.8 in 2010 and was around 85 when Jarosh took the reins.
Enactus separately announced the hiring of Christopher Smith as its new chief financial officer.
Smith comes to Enactus from online giving nonprofit GiveGab Inc., for which he was CFO, according to a news release. He succeeds Christine Rader, who exited in October to become controller at BKD LLP, according to her LinkedIn profile.
“Chris brings to Enactus extensive experience as a CPA and controller,” Jarosh said in the release. “In addition, his savvy business sense as an operating CFO will help drive Enactus’ success as we plan for growth.”
In 2019, base compensation for the CFO was nearly $146,000 with Rader in the spot, according to federal tax filings.
Since its 1999 debut, the awards program has honored individuals under the age of 40 for their professional and civic work.