Many families and companies want to make a difference in the world but have trouble knowing where to start or feel indifferent about their giving. Please join Al as he shares lessons from twenty years of experience advising high-net worth families, companies, and non-profit corporations on how to align their charitable work with their money. He’ll discuss how two ultra-high net worth parents raised kids that understood the true meaning of wealth and service to others and how a corporation changed their giving program to increase employee satisfaction and morale. Al will also share how a non-profit board changed from scarcity thinking to abundance mentality and received a seven figure gift.
Al Mueller, President of Excellence in Giving, has 20 years of experience serving some of the most generous families in America. Excellence in Giving helps families align their values, passions, and priorities with their wealth. Those families gave almost $90 million to 981 high impact nonprofits in 2020. Since inception in 2002, Excellence in Giving clients have given almost $500 million to local, national and international organizations.
Jean Ginzburg has been in the digital marketing space for over thirteen years – servicing clients, working with partners and managing strategy. She is a serial entrepreneur and digital marketing expert helping companies scale revenue, optimize sales and marketing processes and improve productivity. Jean is also the CEO of the agency Ginball Digital Marketing. Ginball’s clients range from brand name Fortune 500 companies to innovative start-ups. In 2017, Jean launched JeanGinzburg.com, an education company bringing digital marketing strategies to up and coming entrepreneurs and startups. Jean‘s passion is empowering entrepreneurs and business owners. She gets up everyday striving to help businesses achieve their goals. After being a veteran in the digital marketing space, Jean mostly focuses on consulting businesses, speaking engagements and digital thought leadership
Platte Canyon High School in rural Bailey, Colo., doesn’t have a wood shop program. The town is landlocked and doesn’t have a lake. But the school has a yacht club. Kip Otteson will join us to share the story of how he and four other teachers helped students create the Platte Canyon Yacht Club. In 2018 teachers at Platte Canyon were wondering what kind of project could teach students about STEM, teamwork, and perseverance. Then they heard about a 70-mile open water ocean race that takes place over 48 hours off the coast of Washington State. They challenged students to design and build a boat from scratch that could compete in the race. The students embraced the challenge and built a huge boat that could hold 18 people. They trained and competed in the 2019 race and again in June 2021. Kip will share the lessons learned in challenging students to embrace a big challenge and how they overcame them as a team.
Leaders shouldn’t have to babysit team members, but we all end up doing just that at some point. Teams encounter a conundrum: When we trust employees to act on their own, they often don’t do what we need them to do. When we micro-manage them, they don’t perform to their potential and everyone is miserable. We get burned either way. The ticket out of “The Babysitter’s Club” is surprisingly simple, yet nearly always overlooked. Peter Melby, CEO of Greystone Technology, shares stories and experiences outlining the journey to deeply successful culture in an IT company with over 100 team members. He’ll share a simple, proven methodology for organizations at any stage to communicate effectively with team members and avoid the people problems that all successful IT teams must overcome. Peter has shared these insights across the US, Europe, Australia, and Asia in an effort to redefine our global approach to company culture.
Bio
Peter Melby is the CEO of Denver-based IT service provider, Greystone Technology, a six-time Inc. 5000 honoree and a seven-time Top Workplace winner. Peter has been named one of Colorado’s Top 25 CEOs, 40 Under 40, Titan 100, and a ChannelPro 20/20 visionary. His leadership at Greystone has led to 17 consecutive years of growth and consistent recognition for market innovation. Peter speaks globally on topics related to scaling successful culture, disrupting traditional IT ineffectiveness, and common-sense cyber security.
From Bob Dodge, Chair of our Member Engagement Committee:
Many of us enjoyed seeing one another in April and we look forward to seeing more DABBERs in person in May. As we learned, via the survey, we clearly value relationships with one another, and it is to that end that we will use the bulk of our time in May doing just that. We will sit at assigned tables with people who are not in our PAG, not on our committee and a mix of new and old members. Rather than focus on what we do, we’ll share who we are. Be thinking about this and come prepared to share who you are among your clients, peers, co-workers, and relatives. Also come prepared to learn things about DAB members that you don’t currently know.
Yes, Zoomers will get the same opportunity via assigned breakout rooms as fellow in-person members/guests. If you plan to Zoom, please let Finola know. Thank you!
Mental health and resiliency have become more important since the start of the COVID pandemic. According to the Colorado School of Public health 23% of Coloradans met the criteria for major depressive disorder during the lockdown. Pre-pandemic about 7% did. While hope is on the horizon with the release of the vaccine it may be months before things feel more like normal. Learning to deal with stress, loneliness, isolation, and feeling down can help us at work and at home with loved ones.
Our April Speaker, Amy Morrison, will help us understand how we become stressed and depressed and how to deal with it in a constructive way. Amy Morrison is a Licensed Professional Counselor and Wellness Consultant who specializes in educating others about the nervous system. She is a co-founder of True Core Health and has worked with The Savory Institute, lululemon Athletica, Havenly, Cherry Creek Mortgage Company, and The Denver Design District.
If you need the Zoom details to join this meeting, please email finola.annibella@yahoo.com.
Taxes – nobody likes paying them but we all have to deal with them. Whether you’re a business owner or employee, the rules keep changing and the DAB is here to help. Three of our very own members walked us through recent changes in the PPP guidance for businesses as well as some tax planning tips for business owners and individuals.
Our panelists included: Cindy Grove, Cindy Gomerdinger & Dan Giordano. Our moderator was Eric Walters.
Cindy Grove, Senior V.P. Relationship Manager
PPP ROUND 2 QUICK OVERVIEW
The first round of the SBA and PPP Loans was a source of much confusion but the second round has a lot more clarity. Those who missed getting $$ in Round One they are likely to get loans in round Two.
The $284 Billion funding of Round 2 PPP has the following requirements:
You have no more the 300 employees
You can demonstrate a 25% loss in gross receipts in a quarter of 2020 over to the same quarter
You have used the full amount of your PPP loan in round 1 in 2019.
How round 2 is calculated, you can just re-apply for Round 1 calculations or re-calculate the 2.5x average monthly payroll costs. Businesses with a NAICS code (north American industry classification system you can find on your tax return) Starting with 7’s includes arts, entertainment recreation accommodations and food services may use 3.5x. There is a 5 year repay @1% rate.
The EIDL Grant funds are now “not excluded” from forgiveness and reconciliations / refunds being processed. Round 2 has expanded categories the funds can be used for the following:
Cindy Gomerdinger, Owner
Is the PPP forgiveness taxable? No, from the beginning the intention was that the forgiveness of debt from the PPP would not be taxable. However, the IRS later pointed out that expenses associated with tax exempt income are not deductible. Therefore, the impact on the taxable income would have been the same as if the debt forgiveness was taxable. On 12/27 they fixed this in the 2nd stimulus package and now the original PPP loans and the 2nd Draw PPP loans will not be considered income AND the expenses associated with the forgiveness are deductible.
Is the EIDL Advance taxable? No, it is not taxable and it will be fully forgiven. They fixed this in the 2nd stimulus package as well. For those that applied for forgiveness last year, the $10K advance was excluded from the forgiveness and you either continued to owe it back through a loan or you repaid it. Due to the 2nd stimulus package fixing this error, any amounts repaid on the advance will be paid by the SBA to the bank and the bank will send you a reimbursement.
What happens if you received a stimulus payment (individually), but your 2020 income is too high to qualify for it? You will not have to return the excess stimulus via the filing of your 2020 return. It is “yours” even if your income was too high in 2020. If you did NOT get a stimulus payment and your 2020 tax return reflects income lower than the thresholds of $150K for joint filers and $75K for single, you will be able to get the stimulus through a “credit” on your 2020 tax return.
Are W2 wages taxable if paid for through the PPP funds? Yes, they are taxable to the employee regardless as to whether the payroll was funded with PPP $’s.
Dan Giordano, Founding Partner and Principal
Some employers might qualify for Employee Retention Credits (ERC). The opportunity to qualify for these credits is simplified now when compared to when they were first legislated in March of 2020. Previously, employers who selected Paycheck Protection Program (PPP) loans weren’t eligible for ERCs, but now, the same employer might qualify for both. One important consideration is wages used for PPP forgiveness cannot be considered and part of calculations for ERCs. Said different, wages cannot be duplicated for these purposes. Therefore careful consideration should be given to wages utilized in PPP loan forgiveness applications and wages utilized for ERC calculations. Consultation with a businesses’ payroll service provider is relevant because ERCs affect current payroll tax filing forms and there is potentially an opportunity to go back to 2020 to recognize ERCs which might be refundable to the business. IRS guidance continues to be issued with respect to these benefits.
Aside from PPP loans and ERC’s, opportunity may exist for certain employers and self-employed individuals to gain benefit from Paid Sick Leave and Family Leave credits. Again, consulting with your team of professionals to optimize your opportunities is prudent. As it concerns the question about breakeven for employer tax credits for these benefits, in GENERAL terms (specifics must be analyzed on a case by case basis), benefits might be assessed in the following order or priority, versus a breakeven analysis:
PPP loans; then determine best utilization of wages and expenses when going through the forgiveness process.
ERCs; remainder of wages after the PPP forgiveness process.
Leave credits.
Items 2 and 3 above depend on employer size (number of employees) and payroll service provider’s ability to get everything computed. IRS forms and instructions are just emerging (leave credits form and instructions were just issued 01.28.21).
A big thank you to Cynthia Wellbrock who is the author of this article.
Plan on attending our November meeting virtually! Thanks to our very own Dean Isaacs and his committee, we have another great Member Engagement program planned!!
For many of us, 2020 has tested our resiliency and challenged many areas of our life. During our November Member Engagement Program we will learn more about resiliency, discuss lessons learned and explore how we can move forward with more confidence in 2021.
If you need the Zoom link, please let Finola know: finola.annibella@yahoo.com.
Lisa Steven has more than 25 years of experience working with teen moms. In 2003, she co-founded Hope House of Colorado and has served as the Executive Director ever since. Under Lisa’s leadership, Hope House has reached new levels and growth that, with a budget of over $1.6 million, puts the organization in the top 10 percent of nonprofits in the United States. Under her leadership, Hope House also received the Governor’s Service Award for Outstanding Nonprofit Organization in Colorado in 2015 and was named the Arvada Nonprofit Organization of the Year in 2018. Lisa is also a co-founder of the Colorado Teen Parent Collaborative and is active with the Denver Women’s Leadership Forum. In 2013, Lisa was named the Arvada Woman of the Year for her contributions to the community. Lisa co-authored the Teen MOPS Handbook and worked with MOPS International on their strategic plan for expanding the ministry of Teen MOPS. A former teen mom, Lisa is committed to empowering teen moms in her community and across the world.
Hope House is metro-Denver’s only resource providing free self-sufficiency programs to parenting teen moms, including Residential, High School & GED and College & Career Programs. Additional supportive services include parenting and healthy relationships classes, an Early Learning Program, health and wellness, financial literacy and personal growth classes as well as certified counseling, all designed to prepare them for long-term independence. Hope House relies on numerous volunteers and local business partnerships to accomplish its mission.
Member Engagement Meeting & Guests are Welcome to Join Us 
