to the betterment of the equipment leasing and finance industry. The. Foundation is funded through charitable individual
ANNUAL REPORT
MISSION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization dedicated to inspiring thoughtful innovation and contributing to the betterment of the equipment leasing and finance industry. The Foundation is funded through charitable individual and corporate donations. Learn more at www.leasefoundation.org.
From the 2017 Foundation Chairman For over 50 years, the U.S. equipment finance industry has helped American businesses acquire and implement the tools necessary to successfully grow and expand their businesses and communities. This mission remains at the core of the U.S. commercial finance industry’s responsibility to America. The Washington, DC-based Equipment Leasing & Finance Foundation is the charitable, non-profit affiliate of the Equipment Leasing and Finance Association. The Foundation is supported entirely by charitable donations from individuals and companies involved in commercial equipment finance in the United States. 2017 represented another year of great opportunity and change for the U.S. business community. U.S. companies are transitioning into disruptive new technologies and adopting new business models to satisfy rapidly changing customer preferences. Scientific advances and disruptive new technologies hold the promise of a dramatically improved standard of living for all Americans; however, the pace of change is so rapid that businesses are being forced to move very quickly to update their businesses to avoid being overtaken by startups or firms entering the banking and finance market from adjacent industries. The Foundation finds itself with several important constituencies to serve during this critically important time in U.S. business history. At its core, the Foundation serves all Americans through its efforts to support the efficient distribution of capital to foster American innovation and ingenuity. U.S. banks and commercial lenders are currently navigating the same disruption and rapid technological change faced by their clients. The Foundation’s newly expanded mission statement embraces these challenges as the Foundation plays an active role in facilitating innovation and change within the commercial finance industry. Finally, the Foundation plays an important role in serving the nearly 10,000 employees who are members of ELFA and who work tirelessly to fulfill the important mission of this industry. The changes underway within the equipment finance industry have the potential to permanently alter business models and change staffing patterns. Professional development and education are critical for employees during these rapidly changing times. The Foundation continues to provide industry employees with cutting-edge research, strategic thinking, and industry information to enable industry employees to remain relevant and at the forefront of this critically important industry. It has been my honor and privilege to serve as the Chairman of the Equipment Leasing & Finance Foundation during the past two years. I am grateful for the generous financial support of the Foundation donors. Recently, the Foundation saw an increase in personal donations. I believe the Foundation represents an important opportunity for individuals (as well as businesses) to give back to an industry that has been so important to the growth and success of our country. I want to personally thank the growing number of personal donors for their exceptional generosity. Thank you! Finally, I would like to recognize and thank the Foundation’s Executive Director, Kelli Nienaber, and her highly competent team. Together they do an excellent job managing this important institution. Sincerely,
William H. Verhelle 2016-2017 Foundation Chairman
2017 Published Foundation Reports
New Video!
Access the free online library at www.store.leasefoundation.org.
2017: A Year of Growth One refreshed, redesigned website launched in August 2017 that provides user-friendly Gold Award from AVA resources to Digital connect with Awards! donors, academics, students, and stakeholders.
As a non-profit, 501(c)(3) organization, the Equipment Leasing & Finance Foundation is 100% supported by corporate and individual contributions. The Foundation had another solid year of fundraising in 2017 surpassing $774,000.
Two new videos including the 2017 Industry Future Council and New Technologies video.
Three full-time Foundation staff members, including the addition of a marketing and communications professional.
Kelli Nienaber Executive Director Anneliese DeDiemar Director of Marketing and Communications Chelsea Neil Program Manager
2017 Foundation Staff
2017: A A Year Year in in Numbers Numbers 2017: Revenue Corporate Donations $653,000 Individual Donations $105,822 In-Kind Donations $75,603 Sponsorships $16,000 Investment Income $27,650 $878,075
Expenses Research $716,889 Fundraising $135,491 Governance $79,260 $931,640
2017 Foundation Board of Trustees Officers Chairman William H. Verhelle Chief Executive Officer Innovation Finance
Trustees Vincent Belcastro Managing Director/Group Head, Corporate Equipment Finance Santander Bank Equipment Finance
Immediate Past Chairman Richard Gumbrecht Chief Executive Officer Commercial Finance Association
Jeffrey Berg Executive Vice President- North America DLL
Vice Chairman Scott Thacker Chief Executive Officer Ivory Consulting Corporation Treasurer Richard Doherty President PNC Equipment Finance, LLC President Ralph Petta President and CEO Equipment Leasing and Finance Association Secretary Paul Stilp Chief Financial and Operating Officer Equipment Leasing and Finance Association ELFA Board of Directors Liaison Larry Smilie Managing Director Banc of America Leasing Executive Director Kelli Nienaber Equipment Leasing & Finance Foundation
Steven Byrnes Principal Capgemini Financial Services USA Inc. Jeffry D. Elliott, CLFP Senior Managing Director Huntington Equipment Finance Katie Emmel Chief Operating Officer International Decision Systems Eric Hanson Senior Managing Director Macquarie Capital Advisors Randy Haug Executive Vice President/Vice Chairman LeaseTeam, Inc. James Johnson, Ph.D Professor of Finance Northern Illinois University Bonnie Michael Vice President, Legal and General Counsel Volvo Financial Services Gordon Scott Business Development Executive Experian
2017 Academic Outreach
GUEST LECTURE PROGRAM The Guest Lecture Program is designed to increase awareness of equipment leasing and finance and attract new talent to the industry.
22
Guest Lectures
19
Universities
Through the Foundation's Guest Lecture Program, industry leaders Pay it Forward by sharing their own experiences with the next generation workforce. The Foundation provides a readymade, fully-customizable presentation developed to introduce students to the industry. Depending on the audience, the presentation includes additional slides that go in-depth on particular subjects (e.g., Lease Accounting). The frequently updated slide deck comprised of new industry data is accessible by visiting www.LeaseFoundation.org.
2017 Academic Outreach
INTERNSHIP CENTER As Your Eye on the Future, the Equipment Leasing & Finance Foundation is dedicated to providing the resources and tools to help your business succeed. Launched in 2017, the Foundation's one-stop, digital Internship Center provides a platform for students in search of internships and companies with opportunities to connect. Employers can post internship opportunities online quickly and easily, search resumes, and set-up resume alerts from applicants. Learn more at www.LeaseFoundation.org.
2017 Foundation Contributors CORPORATE CONTRIBUTORS Corporate Ambassador ($50,000+) Equipment Leasing and Finance Association Wells Fargo Equipment Finance Corporate Fellow ($20,000+) DLL Huntington Equipment Finance PNC Equipment Finance, LLC Corporate Benefactor ($10,000+) Alfa Banc of America Leasing Bank of the West BB&T Equipment Finance BMO Harris Equipment Finance Company CIT Everbank Commercial Finance, Inc. Farm Credit Leasing Services Corporation Financial Pacific Leasing, Inc., an Umpqua Bank Company First American Equipment Finance, a City National Bank Company Genpact, LLC Hitachi Capital America Corp. International Decision Systems John Deere Financial Key Equipment Finance LeaseTeam, Inc. MB Financial Bank Santander Bank Equipment Finance Siemens Financial Services, Inc. U.S. Bank Equipment Finance Corporate Sustainer ($5,000+) Bridge Funding Group, Inc. CapitalSource, Inc. City National Capital Finance CNH Industrial Capital LLC Dell Financial Services Deloitte Eastern Funding LLC Fleet Advantage, LLC GE Capital Industrial Finance Hanmi Bank
Harvard Partners, LLC LEAF Commercial Capital Inc. Marlin Business Services Corp. Odessa Technologies, Inc. Orion First Financial, LLC Pacific Rim Capital, Inc. People’s Capital and Leasing Corp. RVI Group Scottrade Bank Equipment Finance Sertant Capital, LLC Signature Financial Societe Generale Equipment Finance Stonebriar Commercial Finance, LLC SunTrust Equipment Finance & Leasing Corp. TCF Equipment Finance, a division of TCF National Bank The Alta Group UniFi Equipment Finance United Leasing & Finance Volvo Financial Services Wafra Capital Partners Inc. Western Equipment Finance, Inc. Wintrust Commercial Finance Corporate Supporter ($2,500+) Altec Capital Services Ascentium Capital LLC Boston Financial & Equity Corporation Commercial Equipment Finance, Inc. CSI Leasing, Inc. Customers Bank, Commercial Finance Division EverBank Commercial Finance, Inc. Fifth Third Equipment Finance Company Frost Equipment Leasing and Finance Great American Insurance Group GreatAmerica Financial Services Ivory Consulting Corporation Meridian OneCap Credit Corp. Napier Park Global Capital RESIDCO Sasser Family Holdings, Inc. Summit Funding Group, Inc. TD Equipment Finance, Inc. Troutman Sanders LLP Vision Financial Group, Inc.
2017 Foundation Contributors Corporate Donations Allegiant Partners Incorporated Brandywine Capital Associates, Inc. Commercial Industrial Finance, Inc. The Chris Walker Fund Doosan Infracore Financial Solutions Merchants Bank Equipment Finance Somerset Capital Group, Ltd. INDIVIDUAL CONTRIBUTORS Individual Benefactor ($5,000+) Edward Dahlka Jr. Eric Hanson David Mirsky William H. Verhelle Individual Sustainer ($1,500+) Vincent Belcastro Andrew Bender Jeffrey Berg Steven Byrnes Michael Campbell Aylin Cankardes Anthony Cracchiolo Michael DiCecco Richard Doherty Bill Dost Jeffry D. Elliott Katie Emmel Michael Fanger Dave Fate Edward Gross Richard Gumbrecht Randy Haug Cameron Krueger Michael Leichtling Don Link Shari Lipski Bonnie Michael Robert Neagle Ralph Petta William Phelan Kirk Phillips Nancy Pistorio Rick Remiker Robert Rinaldi Mike Romanowski David Schaefer Larry Smilie William Stephenson Hugh Swandel
Scott Thacker Thomas Ware Adam Warner Robert Wax Stephen Whelan Friend of the Foundation ($500+) Martha Ahlers Thomas Askounis Laurie Bakke William Besgen Peter Bullen Crit DeMent Joseph Fantauzzi Paul Fogle David Gilmore Michael Green Jordan Greenwell Miles Herman Thomas Jaschik Marjorie Krumholz Matthew LeSage Gary LoMonaco Brian Madison Walter Rabin Reid Raykovich James Renner Deborah Reuben Richard Ross Gordon Scott Jud Snyder Paul Stilp Scott Wheeler Individual Donations John Barry Joe Collins James Cress Lori Frasier Paul Frechette Brian Griffin James Johnson Scott Kiley Dominic Liberatore Kelli Nienaber Richard Shanahan Alan Sikora
