November Meeting: Preview of Upcoming USPAP Changes
AQB Certified USPAP Instructor, Robert J. Luciani, ASA will preview the “Changes to USPAP Effective January 1, 2016.” Wednesday, November 18, 2015 at 6:30 pm at the Doubletree Guest Suites in Plymouth Meeting.
Leading Appraisal Organization
The American Society of Appraisers is the nation's oldest and largest interdisciplinary appraisal organization. Founded in 1936, the ASA includes specialists in all types of tangible and intangible property, both real and personal.
Serving Pennsylvania and New Jersey
The Philadelphia Chapter (Chapter 35) of the American Society of Appraisers represents accredited ASA members serving the greater Philadelphia region spanning Pennsylvania, New Jersey and Delaware.
At the 2015 International Appraisers Conference, the Philadelphia Chapter received the Society's 2014-2015 awards for Outstanding Chapter of the Year and Best Chapter Mentor Program, the mentoring award for the sixth time!
ASA accreditation enhances appraiser credibility in many arenas, including litigation, financial reporting, and insurance. It is also meaningful for property tax, estate, gift and business planning.
ASA appraisers will identify and value the property they are qualified to appraise, and refer to or consult appraisers in other disciplines or specialties as needed.
September 2015: Installation of Officers; Albert Lazo on Accounting Standards
The September Chapter Meeting was held on Wednesday, September 16, 2015 at the Doubletree Guest Suites in Plymouth Meeting, PA.
In the photo above, outgoing President Eric Hencken, far left, swears in 2015-2016 Officers (from left to right), First Vice President Andrew Sherriff. Incoming President William Mitchell, Secretary/Treasurer Michael Cunningham, and Second Vice President Sheila Gorman. Third Vice President Megan Salehli is not pictured.
The guest speaker was Albert A. Lazo, Director of Valuation Services at Brinker Simpson & Company, headquartered in Springfield PA. Mr. Lazo is a leader of his firm’s valuation practice, which serves Fortune 500 and middle market clients. He gave an informative review of recent Accounting Standards Updates (ASUs) and their impact on business valuation.
ASA Philadelphia at the Barnes Foundation
The May 2015 Chapter Meeting was held at the Barnes Foundation’s Philadelphia Campus. The special meeting included a cocktail hour and the Chapter had exclusive access to the world famous art collection. A member of the museum’s staff gave an excellent talk describing the rare and unique items contained in the collection.
January Breakfast Meeting with Regional Governor Gary Snowdon
The Philadelphia Chapter held its annual January Breakfast Meeting on Wednesday, January 21, 2015 at the Doubletree Guest Suites in Plymouth Meeting, PA.
Over thirty members and their guests attended the meeting, which was free for members. The guest speaker was Gary Snowdon, ASA, Region 1 Governor and Principal Appraiser at the Albany, NY firm of Snowdon Valuation. Gary gave an insightful presentation on "Appraiser Fraud" and brought the Chapter up to date on recent activities throughout ASA. [top photo at left]
Afterward, Chapter President Eric Hencken presented ASA certificates to Frank Merenda [not shown] and J. Mark Penny, ASA [at left in bottom photo].
Mr. Merenda, ASA, who is the President of the West Chester PA firm of EAC Valuations LLC, earned his ASA (Accredited Senior Appraiser) designation in Machinery & Technical Specialties. He specializes in Machinery & Equipment appraising.
Past International ASA President Mark Penny added an ASA in Appraisal Review & Management to his previous accreditation in Business Valuation. Mark is a Managing Director of the Haddonfield NJ firm of Hempstead & Co. LLC. He joined a short list of fewer than two dozen appraisers nationwide qualified in Appraisal Review & Management, and the only one specializing in Business Valuation.
Congratulations to Frank and Mark!
Philadelphia Chapter Hosts Inaugural Service Event to Benefit Cradles to Crayons
On Thursday, December 11, the Philadelphia Chapter hosted a combined service event and happy hour in support of the local chapter of Cradles to Crayons. The event, held at the Great American Pub in Conshohocken, Pennsylvania, was an opportunity for members of the chapter to contribute cash or an article of essential children’s clothing to Cradles to Crayons while enjoying complimentary hors d’oeuvres and an open bar. Members who attended filled a large box with clothing and donated over $400 in cash for this worthwhile cause.
The mission of Cradles to Crayons is to “provide children from birth through age 12, living in homeless or low-income situations, with the essential items they need to thrive - at home, at school and at play. We supply these items free of charge by engaging and connecting communities that have with communities that need.”
The Philadelphia Chapter was proud to host this event and looks forward to making this an annual activity for its members.
John Barton, ASA: 2014 Sinclair Award Winner!
The 2014 George D. Sinclair Professionalism Award was presented to John Barton, ASA by Eric H. Hencken, ASA (far left) at the Chapter's November meeting. The Award, which was created by the Philadelphia Chapter in 2003, recognizes an individual -- not necessarily a Chapter member -- whose actions have enhanced the appraisal profession.
Mr. Barton is the President of Brandywine Valuation Consultants, LLC, a privately held valuation firm specializing in the valuation of equity, invested capital, and intangible assets for the purposes of financial reporting, estate and gift tax, and litigation support. John has been an accredited Business Valuation member since 1993 and has served on the ASA's Business Valuation Committee, International Education Committee, Board of Examiners, and has been an instructor in the Principles of Valuation courses for many years.
As a member of the nominating committee noted John Barton has devoted enormous time without compensation to the Chapter'’s benefit as well as made major contributions to the appraisal field as a whole, including globally. Congratulations to John as the 2014 recipient of the Sinclair Award!
Todd Jarden Advances to ASA
At the November Chapter Meeting
Walter O’Connell, ASA Talks About Cost Segregation
Chapter President Eric Hencken, ASA, near left, congratulates Todd Jarden, ASA on his advancement. A Colmar PA Business Valuation appraiser in private practice, Todd advanced from Candidate to ASA. Congratulations Todd!
The Guest Speaker was Walter O’Connell, ASA, (at right) Senior Consultant at the Wayne, Pennsylvania firm of Porto Leone Consulting, LLC. Walter talked about Cost Segregation and reviewed the basics of cost segregation in relation to commercial real estate depreciation for income tax purposes. He also discussed the valuation tools used in the development of a qualified cost segregation study.
Philadelphia Attends the 2014 International Appraisers Conference
1-Minute Videos: Two past Presidents of the Philadelphia Chapter, real estate appraiser Robert Luciani, ASA and personal property appraiser Rochelle Eisenberg, ASA, tell what ASA means to them.
Representing the Philadelphia Chapter at the ASA 2014 International Appraisers Conference in Savannah, GA were, from left to right, Nick Luceno; Sam Luceno, FASA; Andrew Sherriff, ASA, 2nd Chapter VP; Andrew Comly, ASA; Susan Golashovsky, ASA, International Secretary-Treasurer; Eric Hencken, ASA, Chapter President; Mark Penny, ASA, past International President; Paul D. Amenta; and Rob Luciani, ASA, past Chapter President.
Mark Penny Swears in 2014-15 Officers
The September Chapter Meeting was held on September 10, 2014 at the Doubletree Guest Suites in Plymouth Meeting, PA. At the Meeting, ASA Philadelphia Chapter 35 welcomed its new Officers, led by President Eric Hencken.
In the photo left, Past Regional Governor, J. Mark Penny, ASA, right, swears in the 2014-2015 Chapter Officers, Megan Salehli, ASA, Sec'y/Treasurer, Eric H. Hencken, ASA, President; William P. Mitchell, ASA, 1st Vice President. Officers unable to attend were Andrew G. Sheriff, ASA, 2nd Vice President and Sheila Gorman, 3rd Vice President.
The guest speaker was Bob Wegbreit of the West Conshohocken firm of GF Data Resources, LLC. Mr. Wegbreit, seen at right, provided real world insights about middle-market transactions and recent private company valuation trends.
Bob Wegbreit on Private Company Valuation Trends
2014 BV Seminar "A Stunning Success"
The Eighth Annual ASA Philadelphia Chapter Spring Business Valuation Seminar on Friday, May 2, 2014, was a stunning success by all accounts.
The all-day event, held at the DoubleTree Suites in Plymouth Meeting, Pennsylvania, and attended by approximately 50 appraisers whose practices extend along the entire eastern seaboard and west to Ohio, featured four acclaimed thought leaders as speakers.