Born in Baltimore, MD, Sheena J. Smith, a first-generation college graduate, defies the conventional notion that finance and creativity exist in separate realms. Armed with an undergrad in Management Science and Accounting, followed by a Masters in Accounting and Financial Management (MAFM) with a CPA emphasis, Smith embarked on a unique journey in 2007 by founding The Allocated Formula Group (AFG), a financial management company.
The distinctive philosophy behind AFG is encapsulated in its name – the belief that there is always “a different formula – allocated for every situation,” extending beyond mere mathematical calculations. Functioning as a Financial Manager, MBE/WBE Contractor, Consultant, and Coach for businesses globally, Smith tailors her approach to the specific goals and needs of each company, regardless of its size.
During the challenges brought about by the Covid-19 pandemic, Smith directed her attention towards small and minority businesses. Her objective was to provide education to business owners, assist in organizing their finances, and position these enterprises to access financial leveraging and funding opportunities. AFG’s comprehensive services encompass business development, financial management, forecasts & projections, project acquisitioning, multi-state tax compliance, contract & project management, payroll processing, budgeting, accounting, tax preparation, and QuickBooks Consulting & Training, among others.
One notable facet of AFG’s operations is its role in helping companies secure multi-state licensing and certifications, including Minority/Women’s Business certifications and registrations. Additionally, the company offers services such as proposal writing and fund management. AFG has established strategic partnerships, notably with NASDAQ’s major global provider of Human Capital Management (HCM) solutions, ADP®, where it functions as a Revenue Share Accounting Partner. The company also operates as a FEMA-Approved TSP throughout the US.
AFG’s financial management portfolio is remarkable, exceeding $49 billion for a single company or project. The diverse industries covered include Construction, Fiber Optics & Telecommunications, Health Care, Concerts & Entertainment, Beauty, Mental Health, and more. Smith’s passion for beauty and the arts has led her to venture into the independent visionary role behind 5StarBeautyBar™, a trademarked beauty and makeup brush brand. This brand has gained global recognition, with products available on Amazon.com and www.official5starbeautybar.com.
In conclusion, Sheena Janelle Smith’s journey exemplifies the fusion of financial acumen with creative entrepreneurship. Her commitment to going “above and beyond” is evident not only in the success of The Allocated Formula Group but also in her foray into the beauty and arts industry. Smith’s story serves as an inspiration for those who dare to break the molds and venture into uncharted territories, proving that innovation knows no boundaries.