This One's For You, September 25th Dinner Program
NACD-Colorado’s September 25, 2013 program, This One's for You, went beyond governance, compliance and board management matters normally discussed at our meetings to address legal, personal, tax and financial issues, which personally affect you as Directors. Knowledgeable panelists and cameo appearances covered individual tax planning, business expenses deductibility, 83b elections, self-employment taxes related to Directors, home offices, business structures, legal need-to-know information, personal D&O policy, indemnifications, due diligence before going on a board, asset protection devices, single participant defined benefit plans and solo 401(k) defined contribution plans, how to maximize your Profile in LinkedIn and personal brand building, search firm and resume tips, Director education (think NACD), and much more. The Moderator led the dialogue and asked questions based on his personal experiences as a Director. Time permitted mostly short teasers on the subject matters for follow-up or additional research later; however, most presenters distributed materials, which may be accessed by using the link at the end of each bio below.
Taylor has served on five corporate Boards of Directors, including four public companies as the Audit Committee Chair. During his 11 years of board service, Taylor dealt with a number of personal tax and legal planning issues related to being a self-employed independent corporate Director. He is a CPA, a NACD Board Leadership Fellow and an expert witness in accounting and corporate governance in U. S. District Court, District of Colorado. Taylor is a Past Chairman and President of NACD-Colorado Chapter and is its current Editor/Publicity Chair. Prior to a second career as a corporate Director, Taylor spent 35 years, including 23 years as an Assurance and National Office SEC Partner, with PwC LLP. His responsibilities included assisting Colombian companies in-country, and traveling extensively internationally to help companies, with IPOs and other capital-raising activities in the United States.
Mira Finé, Personal Tax Considerations for Directors
Mira is a Partner and National Director of Tax Services with Hein & Associates, and she talked about personal tax planning and maximization of tax deductions for directors, who are actually self-employed persons. Mira provides tax planning and compliance services to individuals and businesses. She currently is treasurer of the Denver Estate Planning Council. Mira is a past member of the AICPA Council and currently serves on the AICPA Joint Trial Committee. She also served as chair for the Colorado Society of Certified Public Accountants (CSCPA). Mira was honored in 2003 by CSCPA as a "CPA Making a Difference" for her significant volunteer contributions.
Neal Malhotra, Defined Benefit Plan Illustration
Neal is Vice-President and Senior Retirement Plan Consultant, CBIZ Retirement Plan Services, and explained the benefits of single participant defined benefit plans and solo 401(k) defined contribution plans, both interesting ways to save for your retirement (after being a director) while deferring some income taxes. During his 25 years in the employee benefits field, Neal has helped to establish a variety of retirement plans on behalf of diverse organizations, ranging from single-employee businesses (such as a corporate director) to large multinational corporations. He is a regionally recognized retirement plan expert, who has spoken at national and local conferences on retirement plan issues.
Viveka Von Rosen, Maximizing your LinkedIn Presence
Viveka is a successful entrepreneur, a nationally renowned LinkedIn expert, trainer and social media keynote speaker. She is listed in the top three as a "LinkedIn Expert" out of 40 million LinkedIn users. Viveka has an extensive sales and marketing background in helping her clients use LinkedIn marketing techniques to increase their business exposure. Her seminars, webinars and workshops have trained over 29,000 people and Forbes lists Viveka among its 20 Most Influential Women in Social Media in 2013.
Doug Wright, Personal Due Diligence—A Must Before Joining a Board
Doug is a Partner, Faegre Baker Daniels LLP, and highlighted some of the important aspects of personal due diligence before joining a board, legal protections you should have and other personal legal issues. Doug's practice emphasizes securities transactions, financings and mergers, and acquisitions for a broad range of industries. He has represented companies at all stages of their development, with an emphasis on emerging growth businesses. Doug provides general corporate advice to clients on a corporate disclosure issues, employee compensation issues, credit agreement negotiations and general contract issues. As securities counsel, he reviews SEC filings, addresses compliance issues and provides corporate governance advice to clients' Boards of Directors.
Ron Brown, Effective Use of Search Firms to Find Board Positions
Ron is a Partner with Heidrick & Struggles, a global executive search firm working at the Board and C-suite level, spoke about effective and appropriate approaches to search firms, search firm methods and resume tips. Ron is managing partner for the firm's Global Technology & Services Practice in North America. His national search expertise focuses on executive-level assignments for CEOs, COOs, board members and functional specialists for private equity-backed and growth stage companies. Ron has held various leadership positions within Heidrick & Struggles, including associate director of the Technology Practice and managing partner of principal development.
Donna Evans, Pathways for Women Seeking Board Positons
Donna is President and CEO of the Colorado Women’s Chamber of Commerce, one of the largest women’s chambers in the nation, and of the Women’s Foundation, which she founded, described the programs and purpose of Board Bound, the flagship program of the Foundation. Board Bound programs offer a pathway to women seeking to serve on boards of directors. Our audience included a number of aspiring female directors from Board Bound.
Bill Heck, Corporate Director Education Essentials
Bill is President of NACD-Colorado Chapter, is our champion for corporate director education, and he explained available NACD learning opportunities and available NACD-Colorado Chapter scholarships. He is a NACD Governance Fellow and, in his real job, is Managing Principal of the Harlon Group, a performance and compensation consultancy. Bill is a professional human capital practitioner with experience with Arthur Andersen, LLP and the Hay Group where he helped organizations retain top talent through aligning performance with compensation. Bill has served as an independent Director of a privately held manufacturing firm and Lead Director of a financial services company.
Kim Schultz, Recent Trends in Director Compensation
Kim is Managing Director at Denver Compensation & Benefits, LLC, summarized recent trends in director compensation and described when Directors collectively might wish to "ask for a raise". Kim has more than 13 years of accounting and consulting experience, which focused exclusively in the employee benefits area. Prior to forming Denver Compensation & Benefits, LLC, Kim was a senior manager in the Compensation and Benefits practice of Smart Business Advisory and Consulting, LLC. In 2006, Smart acquired the KPMG Compensation and Benefits tax practice. Kim was a senior manager at KPMG and was with the firm for eight years.