Bimonthly Membership Meeting
Wednesday, January 16, 2019, 7:30 am - 9:15 am
Maggiano's Little Italy
4999 Old Orchard Shopping Center
Skokie, IL 60077
- Speakers: Tony M. Oommen - Vice President, Charitable Planning Consultant at Fidelity Charitable & Rick Sevcik - Partner at Perkins Coie
- Topic: Charitable Structures and a Comparison of Donor Advised Funds and Private Foundations
- Doors open at 7:30 A.M. for a buffet breakfast and networking.
- Presentation Begins at 8:00 A.M., and adjournment will be by 9:15 A.M.
- To receive MCLE credit, please supply your ARDC number
- For CFP credit please provide your CFP ID
Americans gave a record $410 Billion to charity in 2017, 70% of which was from individual donors giving during their lifetimes. Private family foundations and donor advised funds are both tools that philanthropically minded individual and families are currently using to carry out their charitable intent. This session will cover:
- The statutory and regulatory framework for each private foundations and DAFs
- Examination of the unique set of advantages and limitations for each vehicle
- Practical planning scenarios to illustrate considerations in choosing one vehicle over the other and when they can effectively be used in combination
Tony Oommen -
Tony Oommen is a vice president and charitable planning consultant for Fidelity Charitable®, an independent public charity that has helped donors support 255,000 nonprofit organizations with over $30 billion in grants since its inception in 1991. The mission of Fidelity Charitable® is to grow the American tradition of philanthropy by providing programs that make charitable giving accessible, simple and effective.
In his current role, Tony builds relationships with advisors, enhances their understanding of Fidelity Charitable’s donor advised fund program, and discusses ways to incorporate charitable giving into clients' financial and wealth management plans.
Before joining Fidelity Charitable in 2015, Tony spent his career as a strategic advisor to high-net-worth clients and developed a passion for helping clients identify creative and impactful ways to incorporate philanthropy into their comprehensive financial plans. He held various roles as an advisor and financial planner for private wealth management firms in Chicago and Cincinnati since 1998. He is a member of the Chicago Estate Planning Council and the Chicago Council on Planned Giving. He volunteers as a board member of the Associated Colleges of Illinois, a non-profit organization.
Richard L. Sevcik -
A seasoned tax and transactional partner with roughly 30 years of experience, Richard L. Sevcik represents numerous nonprofit organizations, public charities, private foundations, healthcare systems, as well as colleges and universities. Rick’s areas of counsel encompass entity formation, ongoing operations and management, governance, reporting obligations and issues that arise in transactions involving exempt organizations.
Rick has a substantive practice counseling healthcare providers and industry participants, including representing exempt healthcare systems and hospitals in connection with corporate governance, tax compliance, transactions and joint ventures, tax exempt bond financings, and IRS reporting and community benefit issues. Rick has represented a number of healthcare systems in connection with their integration with physicians, other providers and business enterprises.
Rick is a frequent author and speaker on issues facing nonprofits, and his presentations have included higher education tax compliance, lobbying and political activity restrictions, corporate governance and transactions, internet activities of exempt organizations, and the rules impacting private foundations. His nonprofit experience also extends to his civic commitments. Rick currently is a member of the Board of Trustees of the Ravinia Festival Association and is a former member of the Board of the Lincoln Park Zoological Society.