Presented by Foundation Source, the leading provider of charitable giving solutions and technology, this session explains how using philanthropy strategically in exit planning can help business owners maximize their financial gain, preserve their legacy, and even determine their next path in life.
An overview of formal charitable giving vehicles is provided, followed by an in-depth discussion of how private foundations in particular can: (1) minimize tax liability before, during and after the sale of a business and (2) fill an often unsettling void for business owners after liquidity.
Additionally, Foundation Source explores how exit planners – as well as all advisors to business owners – can enhance their practices by providing charitable giving expertise. Through discussions about philanthropy, advisors can connect with their clients on a deeper level by helping them consider their personal and family values, charitable interests and life plans beyond their businesses and/or professional careers.
Learning Objectives:
- Understand how formal charitable giving vehicles, particularly private foundations, can help minimize tax liability before, during and after the sale of a business.
- Discover how a private foundation can provide purpose and direction for business owners following the sale of their business.
- Discover the merits of private foundations with respect to grantmaking, legacy building, and investing.
- Realize how exit planning and wealth advisors can distinguish themselves and their practices by providing charitable giving expertise.
Event Details
Who Should Attend?
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.
ABOUT THE PRESENTER
Mark is a managing director for Foundation Source, the nation’s largest provider of technology, administration and expertise for private foundations and planned giving. He manages the firm’s Mid Central region, operating out of his office in Chicago, IL, and works directly with families and foundations – and in partnership with private wealth advisors, family offices, and attorneys – to cultivate a comprehensive operational solution for private foundation clients. Mark is a native Midwesterner, where he spent his career as a strategy consultant at top-tier firms and in related roles at large financial institutions. He has served as an executive director at Morgan Stanley Asset Management where he provided thought leadership on corporate strategy, distribution, and Fund Board governance. More recently Mark was a managing director in the investment banking unit at Aon, Plc where he was responsible for exploring new sources of value for corporate clients in New Ventures Group.
Philanthropy has played an increasingly important role in Mark’s life, both personally and professionally. As a trusted advisor he employs his unique capabilities and connections to help non-profit entities address complex matters related to strategic growth, sustainability, and governance. He has worked with corporations, granting organizations, and families, many of whom invest generously in their communities, to bring their philanthropic vision to fruition. Mark has served as trustee, board member, and most rewardingly mentor to next generation philanthropists and non-profit leaders.
Mark received his Bachelor of Arts degree in Accounting from the University of Iowa, his home state, and currently resides with his family in Oak Park, Illinois where he spends his personal time pursuing philanthropic interests in his various communities including:
• Promotion of inclusion and development of community, social, and professional infrastructures to improve the quality of life for people with special needs
• Community stewardship toward sustainability and well-being of all youth, our environment, and our future leaders
• Inspiration and education of future philanthropists to instill in them a life-long interest in community philanthropy and charitable involvement