By Deborah Burke Henderson
Contributing Writer
BOSTON – Some people call State Treasurer Deb Goldberg “The Godmother” for her uncanny knack of knowing a lot about so many things, but that depth of knowledge does not come easily. Following in her father’s footsteps, and functioning as the CEO of disparate agencies, she is the strategy person, and the one with final say on policy. She said she is typically working and answering emails in response to the day’s issues until two o’clock each morning.
“I love learning and I love challenges,” Goldberg remarked. “I love my job because I know I am making a difference in people’s lives. Isn’t that what being in public service is all about?”
Family influence
Family influence and strong core values come naturally. Sidney Rabb, Goldberg’s grandfather, served during two Roosevelt administrations. Avram Goldberg, her father and political mentor, held office in Brookline. Goldberg’s maternal great-great-grandmother, Yente, immigrated to the United States, and after arriving in the North End, opened a small retail store. Each friend and relative who joined was given a job and a roof over their heads. It was through that store the families learned about the food business, and from those roots grew Stop & Shop. Goldberg’s mother, Carol, served as President and Chief Operating Officer and with her husband, Avram, Chairman of the Board and Chief Executive Officer, grew Stop & Shop to a four-billion-dollar business.
Goldberg learned from an early age that one could run a successful business while providing for family and community. Encouraged to engage in local campaigns, at age seven Goldberg was mascot for the Mike Dukakis state rep campaign. At 10, she helped her father by answering telephones and delegating rides to the polls when he was running for office.
“I didn’t know kids normally wouldn’t do those things,” Goldberg stated. “I used to read all the materials on Dad’s desk and answered the calls on his separate business line.”
Passion for helping others
Prior to her career in public service, Goldberg worked in retail operations, buying, and consumer affairs at The Stop & Shop Companies, Inc. In 1988, following an unwelcome takeover of the business, Goldberg diverted her attention and energy elsewhere. She first ran for Brookline town meeting and won, and then one year later became a selectman in a very competitive race.
Goldberg served on the board of selectmen in Brookline for six years, including two years as its chair, came close to winning the 2006 race for lieutenant governor, and was active in the 2008 Hillary Clinton presidential campaign. When former state treasurer Steve Grossman decided against running for reelection, political leaders approached Goldberg to run for the office.
“I needed to review all the departments to see if I had the expertise to take this role on,” Goldberg added, and she did just that.
Her years in the family business at Stop & Shop and tenure on the Brookline board which, for example, is the licensing authority for alcohol, gave her ample understanding of the alcohol beverage and licensing business for which she would have oversight. She likened the State Lottery to operations at Stop & Shop and running successful marketing campaigns. As a graduate of Boston University, Boston College Law School, and Harvard Business School, Goldberg would bring strong legal and financial expertise to the post.
Redefining the role
Since taking office in January 2015, Goldberg continues to redefine the role of treasurer. Drawing upon her expertise and experience in both the public and private sectors, she has promoted fiscal policies and programs to ensure opportunity for all. She said her desire to bring commonsense business principles to benefit the public good stems from lessons learned her entire life.
With 800 employees, Goldberg said she runs the state treasury like a CEO managing a multi-faceted operation. She depends on deputy treasurers, department heads, chief of staff, and deputy chief of staff, walks into every meeting prepped with full knowledge of the issues to be addressed, and helps focus her teams’ efforts on being innovative and cutting-edge.
“In every area of the treasury, my team and I strive to ensure economic stability, economic security, and economic opportunity for every Massachusetts resident,” she explained.
In Goldberg’s current legislative agenda her proposals, prepared and filed in collaboration with legislative partners, focus on promoting responsible gun policy, protecting and enhancing Massachusetts’ strong financial standing, championing policies that address long-term economic needs of working families and retirees, and advocating for equitable access to capital. Additionally, these proposals seek to streamline various aspects of treasury operations to improve its ability to deliver for Massachusetts residents.
Diverse responsibilities
In her role as the State Treasurer and Receiver General, Goldberg is responsible for the state’s cash and debt management and unclaimed property. She also chairs state boards and commissions, including the Massachusetts School Building Authority, the Pension Reserves Investment Management Board, the State Board of Retirement, the Massachusetts State Lottery Commission, and the Massachusetts Clean Water Trust.
Almost immediately after taking office, she established the new Office of Economic Empowerment (OEE), the first of its kind in the country, and chairs its Economic Empowerment Trust Fund. The OEE is tasked with supporting, advocating, and facilitating policies that empower all Massachusetts residents. Its priorities include closing the wage gap, increasing access to financial education, improving college affordability, and investing in STEM careers and education.
Treasurer Goldberg is the former President of the National Association of State Treasurers and is Chair of the National Institute of Public Finance.
Helping the public
In addition to the complexities of growing the state’s cash reserves, managing debt, saving the state money, and interacting with rating agencies, the Treasury team helps protect seniors against targeted fraud and scams by working with state police departments in providing educational programs. The Clean Water Trust ensures the testing of water, supplying of clean water, and helping communities build new water systems, providing safe drinking water for all. The Lottery generates more than a billion dollars annually, and Goldberg is proud to note these funds are distributed to each city and town in the Commonwealth to use where most needed.
The Baby Steps Savings Plan is the first seeded savings plan for college or vocational training for babies born or adopted in the state and now, nearly 23,000 children and their families are saving for their future. The Veterans Bonus Division is the national leader in the country in taking care of returning service members and their families and financially recognizing their acts of bravery.
Last year, the Treasury processed over 145,000 claims and returned $185 million in unclaimed property to its rightful owners.
“Did you know there is $3.4 billion in unclaimed property here in Massachusetts? One in 10 people in this state are owed money and one of them could be you,” Goldberg stated. “So, check the list, go online, or call our office to search for your name and begin the process today.”
Treasurer Goldberg urges all citizens to check the comprehensive list for all amounts at www.findmassmoney.gov or call the live call center at 1-888-344-MASS (6277).
Community work
Following in her Yente’s formidable footprints in caring for community, Treasurer Goldberg is the president emeritus of Adoptions with Love, a member of the Greater Boston Food Bank Advisory Board, a founder of Berkshire Hills Music Academy—a school for individuals with intellectual disabilities—a trustee emeritus at Beth Israel Lahey Health, and a former director at Affiliated Physicians Group/Beth Israel Deaconess HealthCare. Her philanthropic work includes associations with The Miriam Fund, the 100 Club, United Way, and the Combined Jewish Philanthropies.
In 2016, she received the Excellence in Leadership Award from The Jewish Community Relations Council of Greater Boston (JCRC. In 2022, Goldberg received the Northeast Women in Public Finance Freda Johnson Award for trailblazing women and in 2023 the Women in Public Finance Lifetime Achievement Award. She also received the 2023 Lifetime Achievement Award from the Boston Arts Academy, Boston’s only public arts high school, honoring her deep-rooted connection to the arts.
Now in her third term, Goldberg is the first Jewish woman elected to statewide office in Massachusetts.
“Part of my commitment to continuing in this role is to see things through and make sure they stick,” said Goldberg. “I want to ensure continuity in serving the people of the Commonwealth.”
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