Edward A. Powell, Jr. |
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USO President and Chief Executive Officer
In January 2001, Edward A. “Ned” Powell became the President and CEO of the USO World Headquarters, the premiere global civilian organization supporting the U.S. military. Founded in 1941 by President Roosevelt, the USO now operates more than 130 centers across the U.S. and around the world, from Germany and Korea to Iraq and Afghanistan. Service members and their families visit USO centers more than 5 million times each year.
Under his leadership, USO operations have grown significantly to fulfill troop needs. The operating budget grew from less than $50 million a year to almost $200 million. Fundraising more than quintupled, with an active donor base growing from fewer than 250,000 to more than 1.5 million individuals.
Prior to joining the USO, Powell served as Assistant Secretary for Management (CFO) and Deputy Secretary at the U.S. Department of Veterans Affairs (VA). At the time, the VA was the second largest cabinet department with a budget of more than $50 billion. During his tenure as CFO, the VA achieved its first-ever clean audit opinion. Powell also oversaw the implementation of a purchase card system, development of the department’s first budget accountability reporting (the VA was one of two federal departments to be graded “A” by the Office of Management and Budget and by the Congress), and improvements to patient safety and inventory management by partnering financial and operational management of the VA’s huge healthcare system. Additionally, the VA saved almost $650 million annually in drug costs, while improving patient service and safety, through improvements in the prescription mail program.
Powell earned a BA in economics from Washington & Lee University before enlisting in the U.S. Navy. Following his military service, he pursued a variety of business opportunities, starting as a real estate sales executive for the Sea Pines Company. While at Sea Pines, he utilized his GI Bill Benefits to earn an MBA from the University of North Carolina at Chapel Hill. Following graduation, he joined the Bank of Boston as a lending officer. He purchased his first company at the age of 31 and, between 1980 and his VA appointment, was involved in a number of business ventures and boards, principally in Richmond, Virginia. He served on the boards of the Point of Purchase Advertising Institute, the Virginia Association of Manufacturers, the Boys and Girls Club of Richmond, the Richmond Ballet, the Virginia Opera, the New Community School, the Powell Endowment for Economic Education and the Westminster Canterbury Foundation. In 1981 he joined the Young Presidents’ Organization and has actively supported both YPO and the World Presidents’ Organization. Additionally, he served on the University of Richmond’s adjunct faculty, where he taught business policy and ethics.
Powell also earned professional certifications, including the Virginia Real Estate Broker’s license, Series 7 Broker Dealer license, and certification as a mediator for the Commonwealth of Virginia.