2017 Foundation Annual Report_FINAL

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 As a non-profit, 501(c)(3)
organization, the
One refreshed,
redesigned website Equipment Leasing &
launched in August Finance Foundation is
2017 that provides
user-friendly 100% supported by
resources to corporate and individual
connect with
donors, academics, contributions.
students, and The Foundation had
stakeholders. 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 Kelli Nienaber
Foundation staff Executive Director
members, including
the addition of a Anneliese DeDiemar
marketing and Director of Marketing and
communications
professional. Communications

Chelsea Neil
Program Manager

2017 Foundation Staff

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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  Trustees
Chairman Vincent Belcastro
William H. Verhelle Managing Director/Group Head,
Chief Executive Officer Corporate Equipment Finance
Innovation Finance Santander Bank Equipment Finance

Immediate Past Chairman Jeffrey Berg
Richard Gumbrecht Executive Vice President- North America
Chief Executive Officer DLL
Commercial Finance Association
Steven Byrnes
Vice Chairman Principal
Scott Thacker Capgemini Financial Services USA Inc.
Chief Executive Officer
Ivory Consulting Corporation Jeffry D. Elliott, CLFP 
Senior Managing Director
Treasurer Huntington Equipment Finance
Richard Doherty
President Katie Emmel
PNC Equipment Finance, LLC Chief Operating Officer
International Decision Systems
President
Ralph Petta Eric Hanson
President and CEO Senior Managing Director
Equipment Leasing and Finance     Macquarie Capital Advisors
 Association
Randy Haug
Secretary Executive Vice President/Vice Chairman
Paul Stilp LeaseTeam, Inc.
Chief Financial and Operating
Officer James Johnson, Ph.D
Equipment Leasing and Finance    Professor of Finance
 Association Northern Illinois University

ELFA Board of Directors Liaison Bonnie Michael
Larry Smilie Vice President, Legal and General Counsel
Managing Director Volvo Financial Services
Banc of America Leasing
Gordon Scott
Executive Director Business Development Executive
Kelli Nienaber Experian
Equipment Leasing & Finance       
 Foundation

2017 Academic Outreach 

GUEST 22
LECTURE
PROGRAM Guest Lectures

The Guest Lecture Program is 19
designed to increase
awareness of equipment Universities
leasing and finance and
attract new talent to the
industry. 

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 ready-
made, 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 Harvard Partners, LLC
LEAF Commercial Capital Inc.
Corporate Ambassador ($50,000+) Marlin Business Services Corp.
Equipment Leasing and Finance Association Odessa Technologies, Inc.
Wells Fargo Equipment Finance Orion First Financial, LLC
Pacific Rim Capital, Inc.
Corporate Fellow ($20,000+) People’s Capital and Leasing Corp.
DLL RVI Group
Huntington Equipment Finance Scottrade Bank Equipment Finance
PNC Equipment Finance, LLC Sertant Capital, LLC
Signature Financial
Corporate Benefactor ($10,000+) Societe Generale Equipment Finance
Alfa Stonebriar Commercial Finance, LLC
Banc of America Leasing SunTrust Equipment Finance & Leasing Corp.
Bank of the West TCF Equipment Finance, a division of TCF
BB&T Equipment Finance     National Bank
BMO Harris Equipment Finance Company The Alta Group
CIT UniFi Equipment Finance
Everbank Commercial Finance, Inc. United Leasing & Finance
Farm Credit Leasing Services Corporation Financial Volvo Financial Services Region the Americas
Pacific Leasing, Inc., an Umpqua Wafra Capital Partners Inc.
    Bank Company Western Equipment Finance, Inc.
First American Equipment Finance, a City National Wintrust Commercial Finance
    Bank Company
Genpact, LLC Corporate Supporter ($2,500+)
Hitachi Capital America Corp. Altec Capital Services
International Decision Systems Ascentium Capital LLC
John Deere Financial Boston Financial & Equity Corporation
Key Equipment Finance LeaseTeam, Inc. Commercial Equipment Finance, Inc.
MB Financial Bank CSI Leasing, Inc.
Santander Bank Equipment Finance Siemens Financial Customers Bank, Commercial Finance Division
    Services, Inc. EverBank Commercial Finance, Inc.
U.S. Bank Equipment Finance Fifth Third Equipment Finance Company
Frost Equipment Leasing and Finance Great
Corporate Sustainer ($5,000+) American Insurance Group
Bridge Funding Group, Inc. GreatAmerica Financial Services
CapitalSource, Inc. Ivory Consulting Corporation
City National Capital Finance CNH Industrial Capital Meridian OneCap Credit Corp.
LLC Napier Park Global Capital
Dell Financial Services RESIDCO
Deloitte Sasser Family Holdings, Inc.
Eastern Funding LLC Summit Funding Group, Inc.
Fleet Advantage, LLC TD Equipment Finance, Inc.
GE Capital Industrial Finance Troutman Sanders LLP
Hanmi Bank Vision Financial Group, Inc.

2017 Foundation Contributors

Corporate Donations Scott Thacker
Allegiant Partners Incorporated Thomas Ware
Brandywine Capital Associates, Inc. Adam Warner
Commercial Industrial Finance, Inc. Robert Wax
The Chris Walker Fund Stephen Whelan
Doosan Infracore Financial Solutions
Merchants Bank Equipment Finance Friend of the Foundation ($500+)
Somerset Capital Group, Ltd. Martha Ahlers
Thomas Askounis
INDIVIDUAL CONTRIBUTORS Laurie Bakke
William Besgen
Individual Benefactor ($5,000+) Peter Bullen
Edward Dahlka Jr. Crit DeMent
Eric Hanson Joseph Fantauzzi
David Mirsky Paul Fogle
William H. Verhelle David Gilmore
Michael Green
Individual Sustainer ($1,500+) Jordan Greenwell
Vincent Belcastro Miles Herman
Andrew Bender Thomas Jaschik
Jeffrey Berg Marjorie Krumholz
Steven Byrnes Matthew LeSage
Michael Campbell Gary LoMonaco
Aylin Cankardes Brian Madison
Anthony Cracchiolo Walter Rabin
Michael DiCecco Reid Raykovich
Richard Doherty James Renner
Bill Dost Deborah Reuben
Jeffry D. Elliott Richard Ross
Katie Emmel Gordon Scott
Michael Fanger Jud Snyder
Dave Fate Paul Stilp
Edward Gross Scott Wheeler
Richard Gumbrecht
Randy Haug Individual Donations
Cameron Krueger John Barry
Michael Leichtling Joe Collins
Shari Lipski James Cress
Bonnie Michael Lori Frasier
Robert Neagle Paul Frechette
Ralph Petta Brian Griffin
William Phelan James Johnson
Kirk Phillips Scott Kiley
Nancy Pistorio Dominic Liberatore
Rick Remiker Kelli Nienaber
Robert Rinaldi Richard Shanahan
Mike Romanowski Alan Sikora
David Schaefer
Larry Smilie
William Stephenson
Hugh Swandel