Steven D. Tolbert, MBA

Former CFO, Loyola High School of Los Angeles (CA)

Steve Tolbert is a seasoned financial and operational leader with more than 30 years of experience as a CFO, COO, private equity investor, and board advisor. He has dedicated much of his career to advancing the financial sustainability and operational excellence of independent schools, serving as Vice President of Finance and Administration at Loyola High School of Los Angeles, Chief Financial and Operations Officer at Brentwood School, CFO of Turning Point School, and CFO of Campbell Hall. In these roles, Steve managed operating budgets ranging from $11 million to $47 million, and safeguarded significant endowments and capital assets.

As Founder of Strategic Financial Management LLC, Steve also provides fractional CFO services, turnaround management, and strategic consulting to schools and nonprofits. His expertise spans enterprise risk management, internal controls, debt restructuring, digital transformation, and AI governance, particularly in helping schools and boards understand the risks, opportunities, and compliance considerations of artificial intelligence. He has successfully guided schools through crisis management, including the 2008 financial crisis, COVID-19, and the 2023 banking crisis, ensuring operational continuity and long-term sustainability.

Beyond his executive leadership, Steve brings extensive governance experience, having served on the boards of Chrysalis (Audit Committee, Chair of Program Committee), the California Independent School Business Officers Association, and multiple nonprofit and educational organizations. He is an SEC-qualified Audit Committee Financial Expert and a respected partner to Heads of School, CFOs, and Boards of Trustees.

His commitment to advancing business excellence in education aligns with the mission of NBOA Advisory Services. He combines strategic foresight with a collaborative, mission-driven approach, helping independent schools strengthen financial resilience, optimize operations, and deliver on their educational promise.

Steve earned his Bachelor’s degree in Mathematics from Morehouse College and an MBA in Finance from the University of Chicago Booth School of Business. As a parent of six college graduates - five of whom attended independent schools - Steve also brings a personal understanding of the value and impact these institutions provide to families and communities.