Salk Institute
Tax and Management Seminar

40th Annual Tax and Management Seminar for Private Foundations

March 14-16, 2012

The Lodge at Torrey Pines
La Jolla, California

William R. BrodyDear Friends,

The Salk Institute for Biological Studies is pleased to announce the 40th Annual Tax and Management Seminar for Private Foundations. It's hard to believe the seminar is 40 years old, but it stands as a testament to Jonas Salk that his visionary educational concept has stood the test of time. The Salk seminar is an innovative program that combines expert speakers and topics that are important to foundation trustees, family and staff. The atmosphere is relaxed, dynamic and fun, and the seminar continues to grow and flourish every year. We are proud to continue the tradition of excellence.

The 40th Seminar will be held at the beautiful Lodge at Torrey Pines led by Edwin Hunter (Seminar Chair) and Valerie Jacobs. They have put together another stellar program of expert speakers, and we are extremely grateful for their continued dedication and leadership. We are expanding the two track program and have added some exiting new sessions and panel discussions in the line-up. There is something for everyone, from seasoned veterans to new trustees just getting started in philanthropy.

I am also pleased to announce that John Ondrasik will be delivering the keynote address this year. John is a singer/songwriter, best known as the lead singer of Five for Fighting. John is also a devoted philanthropist who has made a personal commitment to causes that are important to him. John launched a unique charity-driven web site, www.whatkindofworlddoyouwant.com that raises money for various charities when users view video clips provided by visitors to the site. Current views are over three million.

I encourage new foundations to attend the Seminar and welcome back our long-time foundation partners whom we thank for their tremendous support. The Salk Institute is dedicated to discovering new therapies and cures for diseases at the molecular level. I hope you will attend our 40th Seminar, tour the Salk Institute and learn how your foundation can make an investment in extraordinary biological research and a lasting impact on human health.

William R. Brody

William R. Brody, M.D., Ph.D.
President, Salk Institute for Biological Studies
Irwin M. Jacobs Presidential Chair

Edwin K. Hunter

Dear Friends and Colleagues,

The Salk Institute is proud to present its 40th Annual Tax & Management Seminar for private foundation trustees. The Seminar was established to aid trustees in dealing with the numerous and complex tax law changes foundations faced after the Tax Reform Act of 1969. In recent years, the seminar has expanded its scope to include both a tax and management track which offers efficient foundation management to parallel tax compliance requirements.

Both the tax and management tracks feature experienced and accomplished faculty. New organizations and those in need of a refresher on compliance will have an opportunity to hear from experts who are leaders in their fields. Trustees and foundation leaders who are looking for fresh new ideas and perspectives will have ample opportunity to hear from experts who have not only run their own family foundations but provide guidance and expertise to many others. The Seminar presenters enjoy interacting with their audiences and welcome questions and comments during their sessions. Please consider the enclosed schedule and see how you can plan a program that best suits your foundation.

Adding to the Seminar's excellent presentations and La Jolla's March weather, the Seminar has two more enticements. First, we'll visit the Salk Institute and give you a chance to hear from and interact with young scientists who are conducting cutting-edge research. They are changing medicine and consequently, our world. Secondly, and I encourage all of you to attend, the keynote address by John Ondrasik. John is a noted and innovative philanthropist, songwriter, and lead singer for "Five for Fighting." Many celebrities lend their images to philanthropy but John does much more as evidenced by his deep commitment to voluntarism and private action to address a number of society's needs.

I look forward to see many of you in March!

Edwin Hunter

Edwin Hunter
Chairman, Tax and Management Seminar
President, Hunter, Hunter & Sonnier, LLC

John Ondrasik
Five for Fighting, singer/songwriter

John Ondrasik Singer/songwriter John Ondrasik (On drah sick) has spent the past decade writing deeply personal songs that include social messages, invoke the human spirit and make an emotional connection. This can be heard on the past four albums by Five For Fighting, the band name under which he records and performs.

Ondrasik's debut album, the critically acclaimed, Message for Albert, was released in 1997. Five for Fighting's breakthrough came in 2001 with the Grammy-nominated song "Superman" from the Platinum certified "America Town" (Aware/Columbia) CD. Already climbing the charts prior to 9/11, "Superman" went on to have a life of his own, becoming a song of healing for the nation. John joined superstar musicians for the now legendary post 9/11 fundraiser The Concert For New York, which paid tribute to all the firefighters, police officers and paramedics affected by the events of September 11th.

In 2004, John recorded the Platinum-certified album, The Battle For Everything, which yielded the retrospective hit, "100 Years," a song that has become a part of classic American songbook. With the 2006 release of Two Lights, featuring "World," the hit song "The Riddle," and "Freedom Never Cries," John continued to craft songs with material drawn from his personal experience in regards to love, war, culture, family, humanity, and mortality.

In the fall of 2007, Ondrasik released the first live Five For Fighting CD titled "Live," and the DVD, "Back Country Live." The CD captures the band live in concert and the DVD features live concert footage, Five For Fighting Music videos, interviews and bonus features.

The success of the site led to late 2007 collaboration between Ondrasik and The History Channel, with the launching a user-generated video contest. Fans created a video on Eyespot.com describing what kind of world they want by making a video using archival footage of important historical events and the Five For Fighting song "World" as the music bed. One winning video was chosen to air on The History Channel.

John has also been a dedicated supporter of US troops. In March 2007, he performed at Guantanamo Bay for service members on his first USO/Armed Forces Entertainment tour. Since then John has performed for US forces on USO tours in Hawaii, Guam and Japan.

Ondrasik has also conceived and produced "For the Troops," a CD compilation series of superstar recording artists that is available for free to every active service person in the US Armed Forces. Volume 1, released on Thanksgiving 2007, included Billy Joel, Brooks & Dunn, Josh Groban, The Fray, Melissa Etheridge, Los Lonely Boys as well as Five For Fighting's "100 Years." Over 200,000 CDs were distributed in Iraq, Afghanistan, military hospitals, USO centers and to various troops support groups. Over three hundred and fifty thousand songs were downloaded from the Army/Air Force exchange online store aafes.com. "For the Troops 2", released on Thanksgiving 2008, includes Maroon 5, Keith Urban, Daughtry, 3 Doors Down, Five For Fighting, Roy Orbison, and others.


What you will learn

Founders, directors, or other fiduciaries of a private foundation will:

  • learn how to solve practical problems encountered in managing your private foundations
  • learn what the current developments are affecting charitable giving and private foundations
  • learn how to avoid pitfalls that can lead to penalties for failure to comply
  • obtain current information to help interpret provisions of the Internal Revenue Code and Treasury regulations and rulings pertaining to foundations
  • understand the impact of proposed and pending legislation
  • hear from nationally known lecturers and authors in the field who will present their views on the latest developments in foundation tax law, management, and governance.
  • receive outlines of topics to facilitate understanding and provide a basis for questions

 

Questions, Answers and Discussion Sessions will give you an opportunity to hear more detailed explanations and clarifications of technical points. These sessions are designed to help you get a head start in making the critical decisions you needed to manage your private foundation. You will hear expert opinion and information to help you achieve your foundation's objectives. The panel will address each question submitted.

Bios

Aaron Dorfman
Executive Director
National Committee for Responsive Philanthropy

Aaron DorfmanAaron Dorfman is executive director of the National Committee for Responsive Philanthropy (NCRP), a research and advocacy organization based in Washington, D.C. NCRP works to ensure America's grantmakers are responsive to the needs of those with the least wealth, opportunity and power. Before joining NCRP in 2007, Dorfman served for 15 years as a community organizer with two national organizing networks, spearheading grassroots campaigns to improve public education, expand public transportation for low-income residents and improve access to affordable housing. He holds a bachelor's degree in political science from Carleton College (where he studied under the late Senator Paul Wellstone) and a master's degree in philanthropic studies from the Center on Philanthropy at Indiana University. Mr. Dorfman frequently speaks and writes about the importance of diversity in philanthropy, the benefits of foundation funding for advocacy and community organizing, and the need for greater accountability and transparency in the philanthropic sector.


Paul Dostart
Dostart Clapp & Coveney, LLP
LLP, Adjunct Professor of Law
University of San Diego Graduate Tax Program

Paul DostartPaul primarily counsels tax-exempt organizations on tax compliance, corporate governance, and fiduciary issues. He is a Life Fellow of the American Bar Foundation, a fellow of the American College of Tax Counsel, and a former chair of the San Diego County Bar Association Tax Law Section. He was the 2009 Chair of the Tax Exempt Organizations Committee of the California State Bar Tax Section, and an officer of the American Bar Association Tax Section Committee on Tax Exempt Organizations. Paul received his B.S. from Iowa State University, his J.D. from the University of Houston, his LL.M. in Taxation from New York University, and is registered as a CPA in Illinois. Mr. Dostart is an author of Chapter 12 (Required Tax Filings, Recordkeeping, Reporting, and Rights of Inspection) and Chapter 16 (Management of Charitable Funds).


Lee Draper
Lee Draper, Ph.D.
President
Draper Consulting Group

Edwin K. HunterDr. Draper is currently president of Draper Consulting Group. Since 1990, the firm has worked with over 50 grantmakers of diverse types and sizes, offering services that include strategic planning, grantmaking program design, board governance, staff recruitment and training, and incorporating the next generation of leadership. DCG has worked with such family foundations as the Annenberg Foundation, Jacobs Family Foundation, John Gogian Family Foundation, the Ludwick Family Foundation, the Charles and Helen Schwab Family Foundation, and the Owen L. Coon Foundation. Dr. Draper is also founder and Steering Committee chair of the National Network of Consultants to Grantmakers. Previously, Dr. Draper served in management staff positions at The Ahmanson Foundation, W.M. Keck Foundation, and the California Community Foundation. She holds a Ph.D. in Cultural Anthropology from the University of California at Berkeley.


Edwin K. Hunter
Hunter, Hunter & Sonnier, LLC

Edwin K. HunterEdwin practices law in Lake Charles, Louisiana and is a member of the Louisiana, Texas and District of Columbia Bars. He is a Board Certified Tax Attorney, a graduate of the LSU Law School where he was inducted into Order of the Coif and edited the Louisiana Law Review. He has spoken on tax, estate planning and philanthropy at continuing legal education programs in Colorado, Florida, Hawaii, Mississippi, Louisiana and Texas, as well as published articles on these topics and mineral law. Public Service- past chair of the Section on Taxation of the Louisiana State Bar Association, member of the Louisiana Educational Television Authority, member of the Governor's Commission on Public Broadcasting, counsel for the Louisiana Commissioner for Indian Affairs; Philanthropy- a founding director of the Community Clinic of Southwest Louisiana and the Community Foundation for Southwest Louisiana; trustee for the Joe W. and Dorothy Dorsett Brown Foundation, the Fritz Lang Foundation, the Olive Tupper Foundation and the Chambers Medical Foundation. Business- director of companies in the fields of cardiology, orthopedics, stem cell research and nutraceuticals.


Valerie Jacobs
Founder
Valerie Jacobs Consulting

Valerie JacobsValerie is the founder of Valerie Jacobs Consulting, a group dedicated to providing consultation support to individual philanthropists and family foundations. In addition, Valerie is a nationally known speaker, and has created a series of workshops and conferences for women of wealth and wealthy families, presenting them throughout the country. She appeared on the PBS program, "Money Matters with Adam Smith", and has been featured in numerous books and publications including Forbes, Ms. Magazine, The Wall Street Journal, Kiplinger's Personal Finance, The Chronicle of Philanthropy, The London Times, The Los Angeles Times and The San Diego Union Tribune. Valerie has served on her family's foundation board since 1988 and is currently board chair. In addition, Valerie, her husband and two children started their own family foundation in 2007. She has been a licensed psychotherapist for over 30 years, specializing in the effects of wealth on relationships and personal well-being.


Lisa L. Johnsen
Deputy General Counsel, Bill & Melinda Gates Foundation

Lisa L. JohnsenMs. Johnsen's primary responsibilities include providing foundation-wide tax support.  Previously, she was a Partner at K&L Gates, where she advised the foundation and other nonprofit organizations on matters of formation, securing and maintaining federal tax exemptions, intermediate sanctions, conversions and restructurings, formation of international "friends of" organizations and supporting organizations, private foundation excise tax matters, fiscal sponsorship, domestic and international grantmaking, and Washington state tax matters.  Ms. Johnsen is a member of the American Bar Association, Tax Section Committee on Exempt Organizations and Co-Chair of Sub-Committee on Private Foundations.  She received her B.A., with distinction, Whitman College; J.D., magna cum laude, Seattle University; and LL.M. (taxation), New York University.


Patricia Jo Mayer
CPA, Senior Manager

Patricia Jo MayerPatricia Jo Mayer is a senior tax manager for Moss Adams LLP, which is the 11th largest accounting firm in the United States. She has specialized in tax and related tax planning with emphasis in not-for-profit organizations and private foundations, as well as complex high-net worth individuals, closely-held corporations, and real estate development.

Patty is the Southern California regional not-for-profit tax expert of Moss Adams; servicing the needs of Los Angeles, Orange County, Sacramento and San Diego offices. She is a designated quality control reviewer for the not-for-profit returns prepared by Moss Adams as well as the quality control tax reviewer for all San Diego office not-for-profit audit reports.

Patty serves on Moss Adams' Not-for-Profit Tax Committee. In this role, she has taught several tax-related seminars to firm wide Moss Adams not-for-profit tax professionals through Web-X and live seminars. She has also been a speaker at various not-for-profit seminars in the San Diego community sponsored by Moss Adams as well as an instructor for the National Business Institute relating to not-for-profit subjects. Patty regularly attends Tax-Exempt Organization seminars conducted by the Georgetown University Law Center and Private Foundation tax seminars sponsored by the Salk Institute.

She is a current board member and treasurer for Kids on the Block of San Diego, a non-profit organization and member of the San Diego Foundation Advisory Committee. She is a member of the California Society of Certified Public Accountants and the American Institute of Certified Public Accountants, including AICPA Tax Division. She received her Bachelor of Science degree in Business Administration specializing in accounting from San Diego State University.


Suzanne Ross McDowell
Partner, Steptoe & Johnson, LLP

Suzanne Ross McDowell Suzanne is a partner in the Washington office of Steptoe & Johnson LLP, where she focuses on the law of tax-exempt organizations with particular emphasis on tax, corporate governance, and commercial transactions. She has extensive experience with the nonprofit sector including representation of exempt organizations on a broad spectrum of matters as a private practitioner; service at the US Treasury Department where she was responsible for all legislative and regulatory issues affecting exempt organizations; and work as senior vice-president and deputy general counsel for the National Geographic Society where she developed cost-effective practical solutions for a wide variety of complex legal and business issues. Ms. McDowell is a frequent speaker at conferences and is the author of several papers. She currently serves on the advisory board of The Exempt Organization Tax Review and the Journal of Taxation of Exempt Organizations. She co-authors Steptoe's Exempt Organizations Advisory.


Dr. James T. McGill
Retired Senior Vice President for Finance and Administration, Johns Hopkins University

. James T. McGill Dr. McGill retired as the Senior Vice President for Finance and Administration of the Johns Hopkins University in July, 2010, having served in that role for twelve and a half years. He was in charge of the administrative, business, facilities, financial and personnel matters for the University, serving as the principal adviser to the President on non-academic matters. He was responsible for the development of administrative policies and operating systems essential to fulfilling the academic and research missions of the University. Among his accomplishments were the implementation of new administrative systems and structures, the expansion of campus facilities by more than 40%, the addition and development of off-campus land and facilities, and successful guidance of the University through the 2008/2009 fiscal challenges.

Earlier, Dr. McGill was the Vice President for Administrative Affairs, followed with the Executive Vice President title, at the University of Missouri System for twelve years. His roles included the University's chief financial and business officer of the four-campus, state-wide University.

He also served as the chief financial/business officer at the Oregon Health Sciences University (now Oregon Health and Sciences University) for six years, following four years at the University of Illinois Medical Center and four years of service at the Illinois Board of Higher Education. Upon completion of his graduate degree, he was on the research staff at the Institute for Defense Analyses.

Dr. McGill received B.A. and B.S. (Honors) degrees in mathematics from Oregon State University in 1965. In 1969, he earned a Ph.D. in operations research from Stanford University.

He has served on numerous not-for-profit service and membership organization boards, including current commitments to the Y of Central Maryland (chair of its board of directors), the American Council of Education, and the Charles Street Trolley Corporation and is a Fellow of the TIAA-CREF Institute. He conducts a higher education consulting practice from his Baltimore-area office.


Darren B. Moore
Bourland, Wall & Wenzel, B.C.

Darren B. Moore Mr. Moore practices with Bourland, Wall & Wenzel, B.C., a Fort Worth, Texas law firm which represents individuals, closely held and family businesses, professional practices and charitable organizations within its areas of legal practice. Mr. Moore was born in Lubbock, Texas on December 11, 1973. He earned a B.A., cum laude, from Texas A&M University and his J.D., magna cum laude, from Baylor Law School where he served as Editor in Chief of the Baylor Law Review.

Mr. Moore was admitted to practice law in Texas in 2000 and before the United States District Court, Northern District of Texas and United States Tax Court in 2001. He is a member of the State Bar of Texas; Tarrant County Bar Association; and is a Fellow of the Texas Bar Foundation. He has been named a "Rising Star" by Texas Super Lawyers in 2009, 2010 and 2011.

Mr. Moore's practice focuses on two areas: civil litigation and representation of tax-exempt organizations. In his litigation practice, he represents both plaintiffs and defendants in cases involving a wide array of claims in state and federal trial and appellate courts as well as various alternative dispute resolution forums. In his tax-exempt practice, Mr. Moore advises clients on a wide range of tax and legal compliance issues including organization of various types of exempt entities, obtaining and maintaining tax-exempt status, risk management, employment issues, governance, and other business issues.

Mr. Moore is an adjunct professor at Baylor Law School where he has taught Nonprofit Organizations since 2001. Additionally, he writes and speaks regularly on tax and legal compliance issues including co-authoring the third edition of Bourland, Wall & Wenzel, P.C.'s publication, Keeping Your Church Out of Court.


Bill Vesneski
Director of Evaluation, Planning and Research Paul G. Allen Family Foundation

Bill Vesneski Bill Vesneski manages the Paul G. Allen Family Foundation's grant monitoring systems and reports on grant outcomes to the Board of Directors. He is also responsible for the Foundation's asset building and emergency giving portfolios. For 15 years, Bill has held research and evaluation positions with local, regional and national nonprofits. His clients have included the National Court Appointed Special Advocate (CASA) Association, Zero to Three, and the Oregon Department of Health. He holds a Master of Social Work and is a doctoral candidate in social welfare at the University of Washington.

 


Anthony D. Werley
Chief Investment Office of the Endowments & Foundations Group, JP Morgan

Anthony D. Werley Anthony D. Werley joined JP Morgan in 2003 as a Managing Director and is currently the Chief Investment Officer of the Endowments & Foundations Group.

Mr. Werley has served in management, sales and investment capacities for institutional and private clients for over 30 years. He was an early adopter of alternative strategies in multi asset class portfolios, and has actively promoted the practice of open architecture portfolio construction around a firm's core competencies. Prior to joining the firm he was with the Greystone consulting unit within Morgan Stanley as Head of US Transaction Advisory. Earlier in his career, he served as President and co-founder of Asian research and private equity boutique Clarion Capital and was the Global Head of Private Client Services for CS First Boston. Previous to his current role he was the Global Head of Portfolio Construction within the JP Morgan Private Bank.

Mr. Werley holds a B.A. from Georgetown University and an M.B.A. from New York University.


Seminar Schedule

Wednesday | March 14


8:00 a.m.  

Registration


9:00 a.m. - 9:30 a.m.   Welcoming Address

William R. Brody, M.D., Ph.D., President
Salk Institute for Biological Studies

Edwin Hunter, Seminar Chairman
Hunter, Hunter & Sonnier, LLC


Tax Track | Room 1
9:30 a.m.- 10:30 a.m.   Current Developments - Part I
Suzanne McDowell,
Steptoe & Johnson LLP
Management Track | Room 2
9:30 a.m.- 10:30 a.m.   From Passions to Impact: Making a Difference with Philanthropy, Part I
Valerie Jacobs
Jacobs Family Foundation, Inc.
Valerie Jacobs Consulting

10:30 a.m.- 10:45 a.m.   Break

Tax Track | Room 1
10:45 a.m.- 11:50 a.m.   Setting and Defending Compensation
Edwin Hunter
Hunter, Hunter & Sonnier, LLC
Management Track | Room 2
10:45 a.m.- 11:50 a.m.   From Passions to Impact: Making a Difference with Philanthropy, Part II
Valerie Jacobs
Jacobs Family Foundation, Inc.
Valerie Jacobs Consulting

11:50 a.m. - 1:15 p.m.   Lunch

Tax Track | Room 1
1:30 p.m.- 2:30 p.m.   Recognizing and Avoiding Self-Dealing – Direct and Indirect
Darren Moore
Bourland, Wall & Wenzel, P.C.
Management Track | Room 2
1:30 p.m.- 3:30 p.m.   Next Generation Donors Speak Out
Panel Discussion:
  • Lee Draper, Ph.D., President, Draper Consulting Group
  • Additional speakers TBA

2:30 p.m.- 2:45 p.m.   Break

Tax Track | Room 1
2:45 p.m.- 4:00 p.m.   Current Developments, Part II
Suzanne Ross McDowell,
Steptoe & Johnson LLP

Thursday | March 15


Tax Track | Room 1
9:00 a.m. -10:30 a.m.   Finance and Governance
Anthony D. Werley
Chief Strategist, J.P. Morgan Endowments & Foundations Group
JP Morgan
Management Track | Room 2
9:00 a.m. -10:30 a.m.   Evaluating, Planning, and Research
Bill Vesneski
Director of Evaluation, Planning and Research, Paul Allen Family Foundation

10:30 a.m. - 10:45 a.m.   Break

Tax Track | Room 1
10:45 a.m. - 11:50 a.m.   Grantmaking: The Good, The Bad and The Proceed With Caution
Darren Moore
Bourland, Wall & Wenzel, P.C.
Management Track | Room 2
10:45 a.m. - 11:50 a.m.   The 5% Payout: Making the Case for Giving More
Aaron Dorfman
Executive Director, National Committee for Responsive Philanthropy

11:50 a.m. - 1:00 p.m.   Lunch

Keynote and Tours at the Salk Institute
1:00 p.m. - 1:15 p.m.   Transportation leaves from The Lodge at Torrey Pines for Salk Distinguished Faculty Science Presentations and Keynote Address and at the Salk Institute

1:30 p.m. - 4:00 p.m.   Salk Distinguished Faculty Science Presentations

4:00 p.m. - 4:15 p.m.   Break

Keynote Address
4:15 p.m.- 5:30 p.m.   Keynote Address
John Ondrasik, Philanthropist, Singer/Songwriter


Five for Fighting, http://www.fiveforfighting.com/


5:30 p.m.- 7:00 p.m.   Cocktails and hors d'oeuvres at Salk Institute

7:00 p.m.   Transportation leaves from Salk Institute returning to the Lodge at Torrey Pines

Friday | March 16


9:00 a.m.- 10:15 a.m.   Why Indirect Costs Matter
Panel Discussion:
  • Jim McGill,Retired Senior Vice President for Finance and Administration, Johns Hopkins University
  • William Brody, President, Salk Institute
  • Additional speakers TBA

Moderator: Kim Witmer


10:15 a.m. - 10:30 a.m.   Break

Tax Track | Room 1
10:30 a.m.- 12:00 noon   Surviving an IRS Audit
Lisa Johnsen
Deputy General Counsel of the Bill & Melinda Gates Foundation
Management Track | Room 2
10:30 a.m.- 12:00 noon   Basic Tax Primer for New Trustees Part I
Paul Dostart
Dostart Clapp Gordon & Coveney, LLP

12:00 noon - 1:15 p.m.   Lunch

Tax Track | Room 1
1:30 p.m.- 2:30 p.m.   Basic Tax Primer for New Trustees Part II
Paul Dostart
Dostart Clapp Gordon & Coveney, LLP
Tax Track | Room 2
1:30 p.m.- 2:30 p.m.   UBTI: Unrelated Business Taxable Income
Patty Jo Meyer
Senior Tax Manager, Moss Adams LLP
2:30 p.m.   Seminar adjourned


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