2022 Board Meeting Highlights & Accomplishments
Explore the insightful details of the Q4 board meeting held on December 6, 2022, including financial highlights, proposed budgets for 2023, outgoing leadership recognition, and a look back at the significant achievements of 2022. Delve into reports by the secretary, treasurer, president, and more showcased through engaging visual content and informational snapshots.
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Presentation Transcript
Q4 Board Meeting December 6, 2022 In-person WiFi Network: Guest-Net Password: MetLife 2022
Secretary Report Erin Cho Ian Matthew
Treasurer Report Treasurer Report Tim Bolla Jodi Fiser
Financials: As of October 31, 2022 Key Highlights & Financial Commitments: Category New Membership Renewal Membership YTD Actual YTD Budget $ Over Budget $575,454 cash-on-hand ($300k board designated reserves) $10,000 $280,000 $240,000 $10,000 $260,000 $240,000 $0 $20,000 $20,000 Total Revenue New member: Ares $310,064 $323,633 (13,569) Expenses Non-renewal: Manulife Other Income Interest/Dividends/Cash Back) Lapsed: StepStone $4,894 ($15,169) Certificate program cost estimate $85K ($53,633) $38,464 Net Income
President Report Sara Shean Jani Venter
2022 Accomplishments A Look Back Celebrating ten years of collaboration! Website refresh Logo update Increased social media presence & activity - 4 in-person board meetings Thought Leadership Series, April 2022 - first post-pandemic Annual Product Development Workshop June 2022 Joint Manager Survey 2022 (with NAREIM and Ferguson Partners) Welcomed Ares as a new member 5 Published Segments on Broadcast Retirement News Network Increased involvement across member firms in Council Activity followers increased by 328%
THANK YOU To Outgoing Leadership Officers Co-president: Sara Shean, PGIM - served a 3 year term! Co-treasurer: Jodi Fiser, LaSalle Co-secretary: Ian Matthew, TIAA Co-chairs Finance & Valuation: Aki Dellaportas, Heitman Strategic Alliance: Jennifer Perkins, LaSalle & Greg Jenkins, Invesco
2023-2024 Leadership Officers Co-presidents: Jani Venter, JP Morgan & Greg Jenkins, Invesco Co-treasurers: Tim Bolla, BentallGreenOak & Brandon Millen, Intercontinental Co-secretaries: Erin Cho, Mayer Brown & Kevin Walsh, Groom Law Co-chairs Best Practices: Michelle Cabala, PGIM & Diane Smola, Principal Finance & Valuation: Dane Anderson, SitusAMC & Dominic Loscalzo, PGIM Marketing: Matt Jago, RealBlocks & Kara Foley, UBS Strategic Alliance: Paul Quinlan, Blackstone & Joe Szalay, PIMCO
SEC T+0 Proposal Chris Sagovac Kevin Walsh
Member Engagement Discussion Member Engagement Discussion Jani Venter Greg Jenkins
Member Engagement Strengthen the Value Proposition Networking Thought Leadership & Research Best Practices Promoting Industry Growth Defining and educating the DC community Methods to Increase Engagement Leadership & Volunteerism Committee Projects Outreach Activity from ECG Programming
2023 Proposed Calendar Conference DCALTA Q1 Meeting DCIIA Innovation Forum P&I East Coast DC Conference NAPA 401K Summit Inst. Investor DC Institute NCREIF Winter/Spring Conference PREA Spring Conference ULI Spring Meeting DCIIA/SPARK REIT Week DCIIA Advisor Institute Forum NCREIF Summer Conference Inst. Investor DC Institute NAGDCA Annual Meeting PREA Institutional Investor Conference Inst. Investor DC Institute P&I West Coast DC Conference ULI Fall Meeting NCREIF Fall Conference 2023 Date February 15-16 March 7-8 March 12-14 April 2-4 April 18-19 April 24-26 March 22-23 May 16-18 June 5-7 June 6-8 June 25-27 July 10-13 September 13-15 October 8-11 October 18-20 October 18-19 TBD October 30-Nov 2 November 13-16 2023 Location CA Charlotte, NC Orlando, FL San Diego, CA Chicago, IL Phoenix, AZ Seattle, WA Toronto, CN Washington, DC New York, NY Kohler, WI Chicago, IL Half Moon Bay, CA Seattle, WA Boston MA New York, NY TBD Los Angeles, CA Orlando, FL Thursday, March 16 Location TBD DCIIA Innovation Forum March 7-8, Charlotte P&I East March 12-14, Orlando PREA Spring March 22-23, Seattle Tuesday, June 13 Product Dev Session New York, NY DCIIA/SPARK Public Policy Forum June 5-7, D.C. PlanSponsor National Conference June dates TBD Tuesday, September 19 Washington/Boston/Chicago Tuesday, December 5 New York, NY
Programming Discussion Thought Leadership Series - host a stand-alone conference or not? P&I or other conference sponsorship opportunities Partner with another organization/co-schedule our meetings noted above Increase frequency of Member Forums, webinars, or other programming Launching a formal education series, potentially for CE units
Educational Program Educational Program Angela Antonelli Mary Adams
2023 Defined Contribution Real Estate Council Educational Program Collaboration Brief Program Goal DCREC s mission is to promote the inclusion of investments in direct commercial real estate and real estate securities within defined contribution (401k) plans to improve participant outcomes by furthering education about, advocacy for, and best practices of such investments. DCREC is seeking a partnering organization to co-create and offer an educational program with that mission as the backdrop of the program. Our program will show that as the third-largest asset class in the investment universe, real estate belongs in every DC plan participant to provide optimum outcomes, diversification, and downside protection.
Educational Program Collaboration Brief Audience Why Attend DC plan participants have had limited access to private real estate options within their plans. With a low correlation to other asset classes, real estate can potentially reduce portfolio volatility, and improve risk-adjusted returns. While REITs are used in the majority of Defined Contribution (DC) plans and improve portfolio returns, combining private real estate with REITS can enhance the diversification benefits of the real estate asset class. Pension plans have benefited from allocations to private real estate for decades, and the structures are now in place to incorporate private real estate into the daily-valued DC environment, as well. The decision-makers of DC plans. This includes: Consultants Plan sponsors Asset allocators MEPs/PEPs Government-sponsored plans Learn from Georgetown Faculty and seasoned defined contribution real estate practitioners in an academic, collaborative environment. [To incentivize attendance, we will look into offering CE credits, HR credits, and a certificate of completion for the program].
Educational Program Collaboration Brief Program Content 3. Understanding the intricacies of integrating private real estate into your plan: examining the options and how to implement your choice What are the hurdles, both perceived and real to integrating private real estate into your plan? Leveraging private real estate as a tool for income within your plan Establishing the optimal role of private real estate within target date funds Testimonials from plan sponsors who utilize private real estate within their plans 1. Curriculum topics 1. Foundation Modules*: 1. Define structure: public and private real estate as investment vehicles Types: CORE, Open-ended, closed- ended Valuation Liquidity LP/GP relationship How capital is pooled to invest in RE Showcasing the investment types for commercial real estate (office, multifamily, etc.) Building the case for private real estate within your defined contribution plan 4. 2. 5. 3. 4. 5. 6. 7. 6. 7. *Depending on the seniority of attendees, this may transition to online pre-recorded modules. 2.
Educational Program Collaboration Brief Considerations for Discussion Timing Intellectual Property: Ownership of curriculum, attendee lists, course materials Fall 2023 Length & Location Budget: Associated revenues, fees, expenses 1-day course at Georgetown University Marketing: Channels/methods, cost, branding, database assessment (existing databases, renting, etc.) Instructors Target participant number (budget and space dependent) DCREC member firm representatives and Georgetown faculty. Offering scholarships (DCREC funded) Continuing Ed credits
DCALTA Update Jani Venter
Guest Speakers Angela Antonelli, Georgetown CRI David O Meara, Willis Towers Watson
