Crain's Chicago Business - 10/11/21

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Surprise medical billing, with a twist

Scott Kirby

Hospitals are giving patients sticker shock before they operate

BY STEPHANIE GOLDBERG After enduring the unpleasantness of colonoscopy preparation, Carrie Espinosa got another distasteful experience when she arrived for the procedure—a demand for payment in advance.

“I figured, ‘Are they really going to make me come up with this money?’ I didn’t think they could,” says Espinosa, a benefits consultant and insurance adviser. She ultimately agreed to pay the amount she expected to owe based on her deductible and outof-pocket maximum. But the ex-

COURTS CONTROVERSY Why United’s CEO speaks out while others clam up

BY JOHN PLETZ

U

nited Airlines CEO Scott Kirby is fond of saying, “It’s just math.”

Whether the outspoken airline boss is weighing in on climate change, issuing vaccine mandates, moving to diversify the cockpit or eliminating flight-change fees, his decisions are rooted in the irrefutable logic of numbers.

His views on hot-button issues may seem surprising, coming from an aviation lifer who grew up in Texas and still lives in Dallas.

Yet those who know him say the 54-year-old Air Force Academy graduate, who was banned from casinos for card counting, has always been willing to follow the numbers, even when they stray from conventional wisdom.

“Scott hasn’t changed,” says Holly Hegeman, publisher of

“CEOS . . . ARE SPEAKING OUT WAY MORE THAN 10 YEARS AGO. THEY FEEL MORE COMFORTABLE OR SOMETIMES FEEL MORE PRESSURE TO TAKE A STANCE ON ISSUES THAT ARE CONTROVERSIAL.”

See KIRBY on Page 40

M.K. Chin, assistant professor, Indiana University

NEWSCOM

KIRBY

perience left her fuming.

“Expecting a patient to come up with money upfront when it hasn’t even been put through insurance, that doesn’t seem right to me,” she says.

More hospitals and surgery centers are asking people to pay in advance for nonemergency services as health care costs rise alongside deductibles, increasing patients’ out-of-pocket expenses and the likelihood that they won’t be able to cover the cost of care.

The practice could become even more pervasive as hospitals grapple with the financial effects of the COVID-19 pandemic.

But many consumers are uncomfortable paying for pricey surgeries and diagnostic tests in advance, based on estimated See BILLING on Page 41

$100K for right to a seat? Maybe.

As the Bears mull building a new stadium, personal seat license fees could very well go up. Way up.

BY DANNY ECKER Whether or not the Chicago Bears seek money from Arlington Heights taxpayers to help build a new stadium, it’s almost certain that the team would ask fans to pony up. And it could be a lot, based on the financing for the past few NFL palaces.

If the franchise follows through

with its apparent plan to move to the northwest suburb, those funds would most likely come through the sale of personal seat licenses, the hefty one-time purchases that give their owners the right to buy season tickets each year. New venues that debuted in the Los Angeles, Las Vegas, See SEATS on Page 43

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2 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

Dems not acknowledging some hard truths

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but credible. It has to offer both incentives and penalties. The progressive left may be losing sight of that, at great risk to its ultimate goals.

Here’s my thinking.

It’s now been many months, and sometimes years, since the deaths of Laquan McDonald, George Floyd and others prompted long overdue moves to rebalance the justice system. Former Mayor Rahm Emanuel signed a federal consent decree governing operations of the Chicago Police Department.

Cook County President LAWMAKERS NEED TO COME UP Toni Preckwinkle and the city’s current mayor, WITH SOLUTIONS ON CRIME. Lori Lightfoot, began to put some serious money into cutors to explain in writing why violence-prevention programs. The they dropped gun charges. Also on state enacted landmark legislation tap: Undoing a new state law that intended to restore trust between effectively bans cash bail. Ah, to police and neighborhoods. Voters have the good old days of Class X elected and re-elected a reformer as prisons overflowing with felonious state’s attorney, Kim Foxx. Corporacodgers, no? tions started dedicating themselves But, if understandable, the ire to job creation in long-neglected was and is overdone. The road to neighborhoods. a criminal justice system that truly Then COVID kicked down the works requires it to be not only fair, llinois Democrats and equity activists reacted with anger a few days ago when state Senate Republicans unveiled a get-toughon-crime package that would curl your toes.

The ire was understandable. In a blast from the past, GOP lawmakers proposed everything from imposing mandatory minimum sentences, such as life in prison for a second conviction of using an illegal gun in a robbery, to requiring prose-

C

door. Violent crime rates soared, with people trembling even in what were the safest of neighborhoods, and carjacking punks feeling free to threaten anyone. There may not be a firm connection among all of that. But people are scared, and some of them and their businesses are moving. That is a problem for reformers, in two different ways.

The first is strictly political. If current crime trends continue, the political right will have the weapon it wants to stampede voters to its side. I’m not sure when or how such a trend will manifest itself in actual votes. But that will happen, and Democratic pros know it.

The second problem is moral. No reform is perfect. It’s time to at least consider some mid-course corrections to what the progressive left has accomplished.

For instance: Though reformers were right to push for an end to cash bail to the extent that it was just a form of debtors prison for those accused of minor crimes, local judges have gone overboard

GREG HINZ ON POLITICS

in letting just about anyone out.

According to Cook County Sheriff Tom Dart, of the 3,200 people free on electronic monitors in lieu of bail as of mid-August, 527 were charged with aggravated unlawful use of a weapon, 520 allegedly had a weapon despite a prior felony conviction, 267 faced charges of being an armed habitual criminal, and 98 had been arrested for murder.

Yes, m-u-r-d-e-r. Not exactly some kid busted for having a couple of joints, is it?

Or, carjacking. Among recent reforms was one making it harder to prosecute cases by making it easier for adults intending to steal a car to just hand a weapon to a juvenile, who will be tried in juvenile court rather than as an adult. Clearly, fear of prosecution has all but van-

ished, because the brazenness of some recent incidents is absolutely mind-boggling.

Example three: The continued sniping between Lightfoot and Foxx. There’s probably some truth to what each is saying. But the only message that emerges when the two verbally brawl is that nobody is in charge and anything goes.

If this state’s ruling Democrats are smart, they’ll recognize the problem and deal with it. Illinois House Speaker Emanuel “Chris” Welch took an initial smart step on Sept.

29, when he formed a task force aimed at finding answers to the “dire emergency” of violent crime.

I hope the Dems get somewhere.

If today’s lawmakers can’t come up with solutions, voters will look for other answers.

Can Griffin and Pritzker find common ground?

itadel founder Ken Griffin claimed Gov. J.B. Pritzker refused to mobilize the National Guard last August to address civil unrest centered on North Michigan Avenue. “It won’t look good,” he quoted Pritzker as saying.

Pritzker’s spokeswoman accused Griffin of “lying” about the episode during his appearance before the Economic Club of Chicago on Oct. 4.

And the rhetoric carried on from there.

Bad blood keeps boiling between two of Chicago’s most prominent and powerful people.

Our billionaire governor and one of our wealthiest private citizens are in most respects political opposites, but linked in pursuit of a safer and better city and state.

I spent the better part of this week getting to the bottom of the contentious Aug. 17, 2020, call with Pritzker, convened

by Mellody Hobson. Several participants among the business leaders on the line recall Pritzker stating he would not call the guard unless Mayor Lori Lightfoot asked for the help.

The governor also observed that guard soldiers—trained for warfare—might be ill suited to calm the rage on North Michigan Avenue, participants said.

Pritzker likely also said something close to what Griffin recalled, based on participants’ recollections. Yet some believe Griffin’s version distorted Pritzker’s intended meaning.

And, frankly, Chicago and the

state of Illinois have bigger issues at hand than chasing down that minor mystery.

The ongoing surge of violence in Chicago’s neighborhoods, both rich and poor, is just a start. Other key challenges include the failure of Pritzker and the General Assembly to undertake comprehensive ethics reform, despite a historic corruption scandal; to prevent gerrymandered electoral maps, abandoning a Pritzker campaign pledge; and to undertake structural reform of Illinois’ debt, spending and pensions.

These woes, and others, were on Griffin’s mind in a Q&A session serenaded with applause from the business-centric Economic Club audience. His solutions would be starkly different than Pritzker’s, but their lists of challenges are much the same.

Griffin’s critique included intriguing ideas on pension reform. He called for support of Chicago police. He wants better schools. He correctly argued that $700 million in subsidies for Exelon showed a lack of accountability for the utility’s role in a major corruption scandal.

And his threat to move Citadel’s headquarters from Chicago if conditions don’t improve should not be ignored—by the mayor, governor and business community.

Griffin has earned standing on policy debates—as a large employer, a major force in Illinois politics and a source of largescale, people-centered philanthropy. He spent more than

$50 million to defeat Pritzker’s signature graduated tax amendment to the Illinois Constitution last year alone.

Sure, gifts like Griffin’s $100 million-plus contributions to the Art Institute of Chicago and the University of Chicago have made headlines. Yet his “smaller,” seven- and eight-figure gifts hit home, too: internet access and better principals for Chicago’s schools; feeding Chicago schoolchildren during COVID; bringing state-of-theart technology to the Chicago police; providing a refurbished

DAVID GREISING ON GOVERNMENT

lakefront bike path for recreation.

Even so, Griffin’s elevated position also can translate into blind spots on some issues. He said little about Pritzker’s fight against COVID, which has consumed the governor’s attention for most of the past 18 months. And some failures in government perfor-

mance during Pritzker’s term are rooted in budget cuts and management neglect by former Gov. Bruce Rauner, whom Griffin enthusiastically backed.

Still, the preponderance of Griffin’s critique stands up to scrutiny. And he backed it with a See GREISING on Page 7

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A surprise blessing for Catholic schools

Tom and Jessica Vena at their home in Wynstone in North Barrington.

Enrollment is surging, helping to shore up archdiocese finances

TODD WINTERS

BY ELYSSA CHERNEY

Golf course communities get their swing back Homes in links-adjacent developments were hard to sell a few years ago. The COVID crisis changed all that. BY DENNIS RODKIN THE GREENS AND LAKES OF A GOLF COURSE designed by the great Jack Nicklaus wind through the North Barrington neighborhood that Tom and Jessica Vena moved to in June. But, says Tom, “We don’t golf.”

He has played the game in the past and might again one day, but he says, “We didn’t move to this neighborhood for the golf course, and we’re too busy with work and our two kids to play now.”

The Venas bought the five-bedroom house on Hill-

burn Lane in Wynstone for its two pools, indoors and out, ample indoor space for working at home and 2.3 acres of outdoor space, as well as low-traffic streets where their kids can ride bikes. The golf course is incidental, but “it gives us a nice view,” Tom says.

The Venas, who moved to Wynstone from Glenview, are part of a wave of pandemic-era See GOLF on Page 7

“HAVING YOUR SPACE IS MORE IMPORTANT THAN EVER, (AND) THAT ABSOLUTELY CREATED A LOT MORE DEMAND FOR THESE GOLF COURSE COMMUNITIES.” Christine Wilczek, agent, Realty Executives Elite

Greg Richmond, the new superintendent of Catholic Schools at the Archdiocese of Chicago, assumes his role under circumstances none of his recent predecessors were lucky enough to inherit.

Enrollment this fall increased for the first time in at least three decades, jumping by nearly 7% across 157 archdiocese-run schools after years of parish closures and consolidations aimed at balancing the books. The Catholic schools are also riding a wave of positive feedback after successfully offering in-person learning last year when many public districts prolonged remote experiences due to the pandemic—a decision that pushed some families to transfer into the private parochial system, one of the largest in the country serving nearly 50,000 students across Cook and Lake counties.

Now Richmond, 56, a former Chicago Public Schools administrator who spearheaded charter school development in the city before strengthening its expansion on the national stage, faces the tall task of building on this year’s growth. He’ll need to find new and creative sources of scholarship funding to support unmet demand for thousands of students who want to attend Catholic schools but can’t afford tuition. Stabilizing enrollment could potentially improve the institution’s credit rating, which was downgraded by Moody’s Investors Service in December to Ba1 junk See ARCHDIOCESE on Page 42

Sale of union-affiliated Amalgamated Bank means big payday Here’s the tale of how Robert Wrobel, a 49-year veteran of the institution, is set to turn a $4 million investment into $54 million in only eight years

BY STEVE DANIELS Few in Chicago—or anywhere— will have made a higher return in bank investing over the past decade than the chairman and CEO of Amalgamated Bank of Chicago when that bank completes its $98.1 million sale before year-end.

Robert Wrobel, who began his career 49 years ago at Amalgamated and rose to bank president beginning in 1993, and his family own 55.2% of the stock in the

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bank’s parent, Amalgamated Investments, according to a filing with the Federal Reserve. They are in line to collect more than $54 million in cash when the sale to the parent of New York-based Amalgamated Bank—no affiliation—is completed.

But that’s not the real story.

Wrobel and his family have turned an investment of just $4.2 million in early 2013 into that $54 million haul, a return of nearly 13 times their money in just eight years.

Amalgamated of Chicago, founded by the Amalgamated Clothing Workers of America in 1922, always has been known for its close union ties. But it hasn’t been majority-owned by unions in decades.

How Wrobel, 71—for nearly 40 years a key lieutenant under Chairman and majority owner Eugene Heytow—acquired Heytow’s 57.5% stake on the cheap See AMALGAMATED on Page 41

VALUE PLAY CEO Robert Wrobel has steadily grown the book value of Amalgamated Bank of Chicago since he and his family became majority owners in 2013. That turned into a $98.1 million price in the bank’s recent sale.

AMALGAMATED BANK OF CHICAGO’S NET INCOME AND BOOK VALUE Net income (millions)

Book value (millions)

$22*

$76 $77 $76 $80

$88 $89

$50 $53

$2.4

$5

$6.3

$8.6 $3.5

$3.4 $2.6

’13 ’14 ’15 ’16 Source: Bank filings

’17

’18

’19

’20

’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 *Includes one-time gain from sale of Loop headquarters

10/8/21 4:14 PM

4 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

JOE CAHILL ON BUSINESS

AbbVie works on Humira Part 2

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ALAMY STOCK PHOTO

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to the investigative report.

Imbruvica also has replicated Humira’s success in the courts.

Would-be competitors have fared no better challenging Imbruvica patents than they did against Humira patents. AbbVie recently won a case alleging patent infringement by two companies aiming to offer generic versions of Imbruvica. In a significant victory for AbbVie, the judge refused to invalidate Imbruvica patents.

Drug industry analyst Ronny Gal of AB Bernstein called the ruling “the most underappreciated piece of company-specific news of the past two weeks,” noting that if “the verdict is upheld, AbbVie will not have a major (intellectual property) loss after Humira until 2030.”

AbbVie agreed, predicting in a Securities & Exchange Commission filing that the verdict ensures “no generic entry for any (Imbruvica competitor) is expected prior to March 30, 2032, assuming pediatric exclusivity is granted.”

The rulings suggest AbbVie has little to fear from future legal challenges to its patent strategy (even the judge who called Humira patents a “thicket” “PATENT THICKETS” ENSURE PATIENTS ruled in AbbVie’s favor).

What about PAY MORE THAN THEY SHOULD. Congress? The company became Exhibit A for 2016 expiration of the patent on price-gouging and patent abuse the basic compound underlying in hearings on Capitol Hill this the drug. spring. High drug prices have AbbVie is hard at work on a provoked bipartisan outrage, patent thicket for Imbruvica. The leading to the introduction of bills company has applied for 165 that would curb some industry different patents related to the practices. drug and has received 88 so far. In Yet legislative action by a deepanother similarity to Humira, less ly divided Congress is far from a than half the patent applications sure thing. Morningstar analyst cover the “active substance” of Karen Andersen recently wrote, Imbruvica, according to a report “We haven’t seen a proposal that

by I-Mak, an organization that we believe is moderate enough advocates for lower drug prices. to pass the razor-thin Democrat I-Mak points out that the majority in the Senate and also patents will add nine years to be ambitious enough to gain Imbruvica’s exclusivity perithe support of more progressive od, protecting it from generic Democrats in the House.” competition for a total of 20 years.

If there’s anything Democrats Patents typically expire in six to and Republicans should be able 12 years. to agree on, it’s the need to stop Patent extensions mean big drug patent abuse. AbbVie’s money for AbbVie, which splits tactics undermine the purpose Imbruvica revenues with a unit of patent protection. Patents are of Johnson & Johnson. AbbVie’s supposed to reward innovation, share last year was $5.3 billion. not confer decades-long moAt that level, another nine years nopolies that allow companies of exclusivity would generate to raise prices without improving more than $47 billion in revenue their products. for AbbVie. AbbVie didn’t invent Humira But the haul could be sigor Imbruvica, both of which came nificantly higher, thanks to the to the company by acquisition. Its pricing power that comes with ancillary patents don’t reward the monopoly. A congressional innovators who created the drugs. investigation earlier this year They do ensure that people who found the price of Imbruvica need Humira or Imbruvica will has increased 82% since it was pay more than they should for deintroduced in 2013 by Pharmacades. In doing so, they highlight cyclics, which AbbVie acquired weaknesses in a patent system in 2015. A year’s supply now badly in need of reform. costs nearly $182,000, according

f you liked AbbVie’s long-running Humira monopoly, you’ll love the sequel.

The patents-and-price-hikes formula that made Humira the best-selling drug in the world appears to be working just as well for another AbbVie product. As it did with Humira, AbbVie has blanketed Imbruvica with an array of patents likely to insulate the cancer treatment from generic competition.

Imbruvica is one of the drugs AbbVie is counting on to soften the blow when Humira finally faces generic competition in the U.S. two years from now. Humira sales soared past $22 billion—nearly half AbbVie’s total revenue— during two decades of exclusivity.

AbbVie and predecessor Abbott Labs hiked the price of Humira 27 times since 2003, raising the cost of a year’s supply 470% to more than $77,000.

Key to Humira’s success was what a judge once called the “patent thicket” surrounding the drug. Patents covering manufacturing processes and other ancillary matters extended Humira’s exclusivity period well beyond the

Citadel founder Ken Griffin

Griffin blasts city’s crime, but giving prioritizes other issues A Crain’s review of the Citadel founder’s philanthropy—which exceeds $1 billion— shows that just a sliver of his donations support anti-violence and policing here

BY ELYSSA CHERNEY Multibillionaire Ken Griffin didn’t mince words when he compared city crime to Afghanistan “on a good day” during a fiery appearance at the Economic Club of Chicago last week. But the Citadel founder’s not-soveiled threat to move his hedge fund’s headquarters because of Chicago’s rising violence raises questions about whether Griffin, the state’s second-richest man with an estimated net worth of $16 billion, has used his vast resources to address the root cause of his complaints.

A Crain’s review of publicly available information detailing Griffin’s philanthropic giving— which exceeds $1 billion over his lifetime—shows that just a sliver of his donations support anti-violence and policing in Chicago. That includes a $10 million donation in 2018 to the University of Chicago’s Crime Lab, which allowed researchers to develop data-driven strategies to improve policies at the Chicago Police Department, and $10,000 from his company foundation to the Chicago Police Foundation in 2019.

By far, though, the biggest beneficiaries of Griffin’s wealth include museums, universities and political campaigns, including the $53.8 million he poured into defeating Gov. J.B. Pritzker’s proposed graduated income tax amendment. Griffin makes political contributions on both sides of the aisle, having given more than $36 million to former Gov. Bruce Rauner and at least $1.2 million to committees backing Rahm Emanuel for mayor, but overwhelmingly

favors Illinois Republicans, according to records from the Illinois State Board of Elections.

Griffin has given even more to universities and cultural institutions. Harvard University, the University of Chicago and Chicago’s Museum of Science & Industry each received gifts exceeding $100 million.

PUBLIC SAFETY

be considered too risky by government.

“Having private philanthropy and business practitioners in the mix of how we get funded is always good,” he says. “The lives of people should not just be left to one segment of society.”

Most of Griffin’s personal donations are handled privately through the Kenneth C. Griffin Charitable Fund, and staff helps him vet causes before cutting checks. Because the money isn’t administered through a foundation, which would require IRS filings, it’s difficult to get a complete accounting of where Griffin’s dollars wind up, and the model is considered less transparent than other philanthropic vehicles.

Griffin and his ex-wife used to give donations through The Kenneth & Anne Griffin Foundation, but that was closed after their divorce in 2014. Citadel also main-

“Public safety is the most fundamental purpose of government,” Griffin said in an emailed statement provided by a spokesman. “Our elected leaders have a responsibility to keep our neighborhoods safe and to protect all our citizens from the ravages of crime. Our government officials are spending billions of dollars of taxpayer money on public safety each year and simply aren’t getting the job done.

Many philanthropists including myself have funded high-leverage initiatives to try to spur action and drive “HAVING PRIVATE PHILANTHROPY AND change in the BUSINESS PRACTITIONERS IN THE MIX OF public sector— but we can’t set HOW WE GET FUNDED IS ALWAYS GOOD.” the policies or make the lead- Teny Gross, executive director, ers secure the Institute for Nonviolence Chicago peace.”

Still, there’s a need for private tains a company foundation, dollars to fund programs aimed which supports a wide array of at reducing violence, says Teny organizations from St. Jude ChilGross, executive director of the dren’s Research Hospital to the Institute for Nonviolence Chica- Council for Economic Education.

According to the Citadel Group go, a nonprofit founded on Martin Luther King Jr.’s philosophies Foundation’s last three publicly of conflict resolution, commu- posted IRS filings, the Univernity organizing and victim ad- sity of Texas at Austin received vocacy. Gross says donations the single largest donation of from wealthy individuals can $167,000 in 2018, followed by underwrite projects, like street outreach programs, that might See GRIFFIN on Page 6

10/8/21 2:54 PM

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Griffin’s philanthropic giving GRIFFIN from Page 4

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2022

Meeting Planners Guide As planning for in-person meetings, events and client-entertaining begin to resume in the Chicago area, Crain’s will publish a 2022 guide for key business meetings, conferences and special event facilities on December 6 in print and online.

The guide will include pertinent information and a directory of venues along with event services and providers. Only venues and event service providers who have chosen to submit their information, for a nominal fee will be included in the guide.

Get all the details at ChicagoBusiness.com/2022MeetingPlannersGuide DEADLINE DATE: NOV. 15 | PUBLISH DATE: DEC. 6

P006_CCB_20211011.indd 6

ings in Chicago spiked to their highest level in nearly two decades, prompting Ander to ask a question after the talk about what role the private sector should play during the crisis. Griffin’s staff later approached her to exchange contact information and then invited her to give a presentation about the Crime Lab’s work.

“The conversation really pivoted to . . . ‘We think Ken wants to do something. What can he do that would be most helpful?’ ” Ander said.

When looking at total dollar figures, however, Griffin’s contributions to anti-violence take a back seat to other funding priorities.

For example, the $17 million he’s given to upgrade and renovate the Lakefront Trail since 2016 dwarfs his contribution to the Crime Lab. An initial $12 million donation for the Lakefront in 2016 created separate paths for pedestrians and bicyclists, and an additional $4.75 million during the pandemic enabled the city to repair storm damage on the path and boost protection against the shoreline.

$130,484 to the University of Chicago Laboratory Schools in 2016.

The only crime-related donation was to the Chicago Police Foundation, which received $10,000 in 2019. In the same time period, Francis W. Parker School netted the most cumulative donations at $224,000, while the Latin School of Chicago received $148,000.

Both are private schools.

What else becomes public relies on the discretion of the receiving organizations. Griffin’s spokesman said he’s also given to community-building initiatives like the One Chicago Fund, which invests in neighborhood revitalization projects on the South and West sides, but the organization didn’t respond to a request for comment about details of his support.

Griffin’s most historic gifts include $125 million to the University of Chicago’s economics department, which now bears his name, and $150 million to his alma mater Harvard University— both of which were used to increase student financial aid. More TALENT DEVELOPMENT recently, he gave $125 million to Citadel and Citadel Securities, the Museum of Science & Indus- a separate market maker owned try, which is also rebranding un- by Griffin, announced Oct. 6 that der his name. The Field Museum they are partnering with Thrive and the Art Institute of Chicago Scholars, a nonprofit that helps have also received substantial low-income students of color in support from Griffin, joining oth- Chicago and other cities succeed er museums in Florida and New at top-ranked colleges, to create York. a six-year talent development Griffin’s 2018 donation of $10 program focused on STEM and million to the University of Chi- finance. A news release did not cago’s Crime Lab has allowed the specify how much funding the center to implement data-driv- companies are giving but said en policies that flag officers for behavior- “WE USED PHILANTHROPY TO DESIGN al intervention, help commanders redis- A TRULY WORLD-CLASS DATA-DRIVEN tribute police resources based on crime EARLY WARNING SYSTEM.” trends and strengthen Roseanna Ander, founding executive director, relations with com- University of Chicago’s Crime Lab munity-based groups, according to founding Executive employees will also serve as menDirector Roseanna Ander. tors and host internships. A GrifAnder said the early interven- fin spokesman said it’s a “multition system in particular—which million-dollar commitment” but utilizes machine learning to ana- didn’t elaborate. lyze citizen complaints and other Griffin has supported other edrisk factors to alert supervisors ucation-based initiatives, includwhen an officer needs extra sup- ing the Chicago Public Education port, more training or mental Fund, which focuses on improvhealth services—will be rolled ing CPS principals; Griffin serves out in all Chicago police districts on the fund’s board of directors. and is being shared with other cit- During the pandemic, he donaties that want to replicate the tool. ed $7.5 million to help stand up “With the resources we got Chicago Connected, a public-prifrom Ken Griffin, we were able vate partnership to expand free to build that out,” said Ander, high-speed internet to public who spoke by phone from Phila- school students. delphia, where she was meeting Outside of philanthropy, Grifwith officials about emulating fin is one of the top contributors the program. “We used philan- to political campaigns at both the thropy to design a truly world- federal and state level. class data-driven early warning Aside from donating millions system. . . .The work that Ken to support Emanuel’s mayoral Griffin invested in has become a campaign and former Gov. Rod model now for other police de- Blagojevich’s first run for office in partments and the U.S. Depart- 2002, Griffin has donated to supment of Justice.” port Republican organizations, candidates for the General Assembly and Rauner. In sum, he’s SERENDIPITY Ander said the Crime Lab has contributed $61 million to Respent down Griffin’s donation, publican campaigns and political which came about somewhat ser- causes locally and just under $4 endipitously when she heard him million to Democratic ones. address a private organization in A.D. Quig contributed.

2016. That was when fatal shoot-

10/8/21 2:42 PM

CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 7

Golf course communities get their swing back

SPONSORED CONTENT

talking

WEALTH

GOLF from Page 3

FINANCIAL ADVICE IS NOT GENDER NEUTRAL Why do women need different financial planning and wealth management strategies than men?

“My financial advisor doesn’t seem to listen to me.”

“I feel disconnected from my money and planning for my future.”

ously, says the buyer pool has shifted dramatically in the recent boom.

It used to be that about one-quarter of the people who bought her listings in White Eagle were moving out from the city. In the past year, it’s been three-quarters.

IT’S NOT THE GOLF

then the pandemic increased everybody’s need for space to accommodate working, schooling and exercising at home.

In the first months of the pandemic, Carrie and Brandon Sagotz both set up offices in their Lemont home, hers in a bedroom and his in the basement. In October 2020, they bought a house on Sawgrass Street in Ruffled Feathers, and now each has a dedicated in-home office, above ground. They also gained a swimming pool, “lots of mature trees and a feeling of privacy,” Carrie says.

The Sagotzes’ move wasn’t driven by the pandemic specifically; they had already been hunting for a bigger house for their family of four for months when the crisis began. That meant they were primed to pounce when the right house hit the market.

They put the five-bedroom house on half an acre under contract 47 days after it went up for sale.

Compare that to the previous time the Sawgrass Drive house sold, in February 2015. At that time, it had been on and off the market three times in six years, at one point waiting 11 months on the market without attracting a buyer.

“Having your space is more important than ever,” Wilczek says, and “that absolutely created a lot more demand for these golf course communities.”

Can Griffin and Pritzker find common ground? call for urgent action, encouraging Pritzker to do what is right, even if there are political costs.

A concluding Griffin remark focused on pensions, but it also can be read as a broader call for bold, urgent action from the governor.

“Illinois has to put its house in order, and we’ve got to do it quickly, because every single day that slips through our fingers, the liabilities get bigger, and the ability to change course gets smaller,” Griffin said. “J.B. Pritzker, Gov. Pritzker, understands the math. He understands the issues. I can’t believe he won’t actually use the stunning amount of political capital he had to fix the problem.”

P007_CCB_20211011.indd 7

Throughout my career, I’ve heard these and other similar concerns from female clients. Women often feel overwhelmed and misunderstood as they attempt to build a solid roadmap for themselves and their families.

Carrie and Brandon Sagotz purchased this home in October 2020 in the Ruffled Feathers golf community in Lemont.

“Most of them say they aren’t golfers, or maybe they’d like to learn to play golf,” Clark says. More of the appeal is in the “golf course in your view, the illusion of living on acreage,” she says, as well as community swimming, tennis and other recreational facilities.

Some of the buyers are golfers who wouldn’t previously have considered buying in a golf course community, says Connie Antoniou, who lives and sells homes in Wynstone.

MORE OF THE APPEAL IS IN THE “GOLF “Before, they weren’t interested in paying COURSE IN YOUR VIEW, THE ILLUSION the fees for a private club,” she says, but OF LIVING ON ACREAGE.” when the pandemJill Clark, agent, Compass ic shut down many public clubs and curly squeeze in time for an interview tailed nonmembers’ use of private between showings, inspections and clubs, “they changed their minds.” offers on her latest listings there. BeGolf course communities were fore the pandemic boom, she says, largely a latter-20th-century phehomes in White Eagle averaged nomenon, and with that came about 100 days to sell. Now they sell the desire for ever-larger houses. in 13 days.

The “baby boomer dream houses” Clark, who tracks the data assidu- seemed to be going out of style, but

GREISING from Page 2

“I’m uncomfortable talking about money with friends and family.”

REALTY EXECUTIVES ELITE

homebuyers who have revitalized the market for golf course homes, which in the before times were often hard to sell. Many of these buyers aren’t golfers, but “they like the aesthetic of a community with so much open space,” says Christine Wilczek, an agent with Realty Executives Elite who has been part of at least five home sales this year in Ruffled Feathers, a golf course community southwest of Chicago in Lemont.

In the pandemic era, Wilczek says, “if they’re going to work from home, they’d rather have a home office with a view.”

At Ruffled Feathers, one of four Chicago-area golf communities where Crain’s dug into home sales records, 15 homes sold in the year ended Oct. 1, compared with five or fewer in each of the years ending on that date in 2019, 2018 and 2017.

(We skipped 2020 because the pandemic home sales boom kicked in during the second half of the year, skewing totals.)

The latest year’s sales were more than double any of the three comparison years in White Eagle, west of Chicago in Naperville, in Wynstone, northwest in North Barrington, and in Royal Melbourne, northwest in Long Grove. In each case, the growth in golf home sales was greater than this past boom year’s growth in sales in the community at large.

“It’s been crazy,” says Jill Clark, a Compass agent who’s lived in White Eagle for 28 years and could bare-

Indeed, it has been frustrating to see Pritzker decline to lead on ethics reform, fair maps, fiscal reform and other issues.

Yet Griffin made his appearance at the Economic Club in part because he is not giving up. Late in my reporting on this column, he provided a statement that tacked toward a more constructive dialogue with the governor.

“Personally, I think the playground name-calling is beneath a governor,” it opened: So far, not so helpful. But then Griffin offered a list of key challenges on which both he and Pritzker might concentrate: safer neighborhoods, a more prosperous state, reduced violence and debt.

“Despite our differences, if

he actually decides to address our state’s biggest problems, I would welcome the opportunity to work with him in an effort to improve Illinois,” Griffin concluded.

The statement reads as an uneasy effort to cool down the hot talk—an olive branch, though beset with thorns. But who knows. In pursuit of a shared desire to help Pritzker make Illinois a better place to live and work, Griffin might just be looking to make a first, important step.

David Greising is president and CEO of the Chicago-based investigative watchdog Better Government Association.

KRISTA K. LINN, CFA

Director, Senior Portfolio Manager Bartlett Wealth Management (312) 588-7795 Krista K. Linn, CFA, is a Senior Portfolio Manager and Director at Bartlett Wealth Management, providing investment management services to highnet-worth individuals and their families, foundations, endowments and institutions. With more than 35 years of experience, Krista specializes in investment strategy, ESG investing, succession planning and women in transition.

Many firms and advisors treat financial planning and wealth management with a one-size-fits-all approach. Financial advice and planning shouldn’t be cookie-cutter or gender-neutral. Here’s why.

We’ve discovered that women tend to have different concerns, considerations and priorities than men and need and deserve a tailored approach.

While women have made financial gains in recent years, they still often get paid less, accrue more debt over time, do more unpaid labor, and live longer – which often means relying upon less savings for a longer time period.

Financial understanding and learning also tends to be different between men and women. Studies have shown that when it comes to investing, women want more information and want to better understand the associated risks and rewards. Additionally, women tend towards a far more conservative approach than is necessary. It’s vital to choose an advisor who understands that and will go to the next level to make sure their client has all the information they need to make decisions.

What’s more, many women only seek advice – whether financial, legal or other kinds – during times of crisis or transition, but it doesn’t have to be that way. I consider many of my clients to be good friends whom I’ve built close relationships with and talk to frequently, not just during times of crisis. Women should feel empowered to take control of their financial wellbeing by partnering with an advisor or Registered Investment Advisory (RIA) firm that will take the time to understand their unique needs and long-term goals, and work alongside them to build the right plan.

That’s why it’s important for women to find advisors who acknowledge and understand these crucial differences and address the needs of female investors in a way that the financial services industry has largely overlooked.

Having the right advisors at the table ensures a female investor understands the full picture of their financial situation, and that they benefit from the creativity that comes from approaching a problem with a different perspective. After all, everyone deserves to find an advisor who will meet them where they are, start with what’s important, and make a plan to support sound financial decision-making through every stage of life.

Bartlett Wealth Management, a wealth management firm with offices in Cincinnati and Chicago and a 120-year legacy, launched WEinvest in September 2021 to guide women to informed financial decision-making through life. For more information about women-centric financial planning and wealth management, visit https://bartlett1898.com/weinvest/.

10/8/21 3:01 PM

8 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

Gold Coast hotel sold to Canadian investor

BY DANNY ECKER A Toronto-based real estate firm has purchased the Talbott Hotel in the Gold Coast in a deal that completes a big financial haircut for developer Sterling Bay and marks a gutsy bet on the post-COVID recovery of the downtown hospitality market.

Canadian hotel investor FullG Capital purchased the 178-room inn at 20 E. Delaware Place, according to the company’s website and people close to the deal. The exact sale price is not clear, but sources familiar with the transaction said FullG paid close to $55 million for the 16-story building.

The deal at more than $300,000 per room is a relatively strong valuation data point for downtown hotel owners grappling with the pandemic’s harsh and lingering impact on business. It also nets what hotel experts say is an impressive return for the sellers against the backdrop of the public health crisis, even though they took a significant loss on the sale.

A joint venture led by Sterling Bay and partners Geolo Capital and Wanxiang America Real Estate Group bought the hotel in October 2015 for $51 million in a deal that included celebrity investors John Cusack and Chris Chelios, among others. The group subsequently spent $16.4

million renovating all the guest rooms—adding 29 of them—as well as the lobby, restaurants, fitness center and other spaces, according to a flyer from Jones Lang LaSalle, which brokered the deal.

With that total investment of more than $67 million, the Sterling Bay-led venture refinanced the property in 2019 with a $45.9 million loan, according to Cook County property records.

Some hoteliers said it was no guarantee the owners would find a buyer above the debt level, given the pandemic’s assault on hotel occupancy and room rates downtown. Now, FullG Capital has picked up the leisure travel-heavy property after a promising summer of tourism in the city, but with little clarity about when or if business travel will come back and what that will mean for the rates downtown hotels will be able to charge over the next few years.

ROOM REVENUE UP

Revenue per available room at downtown hotels that were open in August, a key performance metric that accounts for both room rate and occupancy, averaged $105.22, according to hospitality data and analytics company STR. That was almost twice as much as the average three months before and dwarfed the

JONES LANG LASALLE

The deal for the Talbott completes a financial haircut for Sterling Bay—but with a relatively impressive return against the COVID backdrop, hotel experts say

The Talbott Hotel at 20 E. Delaware Place $30 average from August 2020 but was still well below the nearly $175 average in August 2019, STR data shows.

A spokesman for FullG Capital couldn’t be reached, and a Sterling Bay spokeswoman did not provide a comment.

FullG Capital also owns a pair of hotels in the Atlanta area and has $165 million of assets under management, according to its website.

The firm isn’t the only investor to bet on a downtown Chicago hotel comeback. Its deal comes two months after Chicago-based Oxford Capital Group paid more than $72 million—just under $300,000 per room—for the 247room Thompson Chicago hotel at 21 E. Bellevue Place, just two

blocks north of the Talbott. That sale, one of the priciest downtown hotel trades since the pandemic began, and the sale price of the Talbott are reassuring signs for owners of certain types of well-located hotels in the city that don’t rely heavily on large group bookings and events.

“It definitely speaks to the optimistic view on Chicago’s recovery and the fact that, even though things aren’t great right now, that even buyers believe that Chicago will return in full,” said appraiser Stacey Nadolny of hotel consultancy HVS. Best known for redeveloping and owning prominent office buildings in Chicago, Sterling Bay made one of its first plays in the hotel space with the Talbott.

But it was a relatively bumpy ownership tenure even before COVID came along. Hyatt Hotels in 2018 announced the acquisition of Talbott management company Two Roads Hospitality, bringing Two Roads’ Joie de Vivre boutique hotel brand under the Hyatt umbrella. The Talbott then switched management companies again to Atlanta-based Davidson Hospitality’s Pivot Hotels & Resorts brand.

Such rapid shifts can impact staffing and room rate strategy at hotels, which make it difficult for them to gain long-term traction with guests and clients.

JLL hotel brokers Adam McGaughy and John Nugent are marketing the Talbott on behalf of the joint venture owners.

New Buffalo inches closer to rental resolution

BY KATHERINE DAVIS A two-year battle over shortterm rentals in New Buffalo, Mich., is inching closer to a conclusion, now that the town’s City Council has narrowed what the final law will entail.

Instead of banning such rentals entirely in the Harbor Country vacation town, council members decided to put a freeze on new shortterm rental activity in three zoning districts that are heavily residential, but allow them in all others.

Last month, New Buffalo’s Planning Commission rejected two proposed ordinances aimed at curbing the number of shortterm rentals, the kind of accommodations often available on apps like Airbnb and Vrbo.

The city says that prohibiting new permits in these three districts will allow New Buffalo to continue considering whether and how to issue additional permits in the future, according to a staff memo. Since 2020, New Buffalo has been under a mora-

P008_CCB_20211011.indd 8

torium on new permits for shortterm rentals.

The council will vote again on the proposal at the next meeting Oct. 18.

About 10 residents spoke at the Oct. 4 meeting, most of them homeowners in the town of about 1,700 and most of them opposed to the ordinances. Some called for the council to collect more data on the economic impact of short-term rentals and nuisance complaints. City Manager Darwin Watson said he will compile all the research and data the city has and provide it to residents at a town hall meeting on Oct. 12.

TENSIONS HIGH

The Oct. 4 discussion was tense.

Mayor John Humphrey, who was elected in November, asked that Laura Murray, a Downers Grove CPA who owns a second home in New Buffalo, be escorted out of the building after he said she directly challenged the council.

“I’m asking on behalf of the residents of New Buffalo that both of

ISTOCK

Officials considered banning Airbnb-style rentals in the Harbor Country vacation town. Now short-term rental rules are moving in a different direction.

New Buffalo, Mich., has been under a moratorium on new permits for short-term rentals since 2020. these resolutions be voted down,” Murray said in her remarks. “I ask that the board take the advice of the Planning Commission and come up with alternatives that will be more equitable to both the longterm residents and the property owners who choose to rent their property out on a short-term basis.”

She said, “The perception has been created that is about a pow-

er-hungry mayor whose personal vendetta against . . .” before she was cut off by Humphrey pounding a gavel and asking the police officer on-site to lead her out of the building.

Others walked out of the meeting, telling the council they should be ashamed of themselves.

Humphrey previously told

Crain’s he’s against short-term rentals because they drive up home prices and push out permanent residents. Supporters of short-term rentals in New Buffalo say the influx of tourists who vacation at these properties helps support local businesses and restaurants. Owners of homes listed on Airbnb and Vrbo also make an income.

10/8/21 3:05 PM

WELCOME! NEW UNITED WAY OF METRO CHICAGO BOARD MEMBERS United Way of Metro Chicago is pleased to announce the addition of 17 new members to its board of directors.

Over the past year, United Way has doubled down on its commitment to diversity, equity and inclusion through initiatives like the 21-Week Equity Challenge, Chicago Connected and the growth of its internal Racial Equity Committee.

Expanding the board has been a key component of the DEI efforts, and we are honored to share the list of our 17 new board members who represent the diversity of the city and offer deep connections to the communities we serve.

David Blowers

Linda T. Coberly

PRESIDENT, NATIONAL SERVICES— WEALTH MANAGEMENT AT NORTHERN TRUST

CHICAGO MANAGING PARTNER AT WINSTON & STRAWN LLP

Paulette Dodson

Kenneth Escoe

Manuel Flores

John O. Hudson III

GENERAL COUNSEL AND CORPORATE SECRETARY AT ALIGHT SOLUTIONS

EXECUTIVE VICE PRESIDENT SPECIALTY PRODUCTS ILLINOIS TOOL WORKS INC.

PRESIDENT AND CEO AT SOMERCOR

PRESIDENT AND CEO OF NICOR GAS

Linda Imonti

Darren R. Jones

Carina Markel

Randy Mehrberg

Neil Murray

Alicia Ponce

MANAGING PRINCIPAL AT KPMG CHICAGO

PRESIDENT OF THE CENTRAL PLAINS DISTRICT AT UPS

DEALS MANAGING PARTNER AT PWC

CO-MANAGING PARTNER AT JENNER & BLOCK

GLOBAL CEO WORK DYNAMICS AT JLL

FOUNDER AND PRINCIPAL AT APMONARCH

Mark Prindiville

Jud Snyder

Julia Sznewajs

Brooke Thompson

Wolfe Tone

EXECUTIVE VICE PRESIDENT AND CHIEF RISK OFFICER AT ALLSTATE INSURANCE COMPANY

CHICAGO OFFICE MANAGING PARTNER AT EY

MANAGING PARTNER AT RES PUBLICA GROUP

MANAGING DIRECTOR, MARKET EXECUTIVE GREATER CHICAGO AT MERRILL LYNCH, PIERCE, FENNER & SMITH INC.

NATIONAL DELOITTE PRIVATE TAX LEADER AT DELOITTE TAX LLP

United Way of Metro Chicago congratulates this outstanding group of individuals and is thrilled to have them join United Way’s mission of building a stronger, more equitable region.

To view the complete board of directors, visit LIVEUNITEDchicago.org/our-team.

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10 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

M

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EDITORIAL

t’s an old and not-very-funny joke in the political world: A conservative is a liberal who got mugged.

That said, hedge fund billionaire Ken Griffin’s political leanings seem to have been set well before he and his security detail had a close encounter with some would-be carjackers—an incident he described briefly during an unusually feisty Oct. 4 appearance before the Economic Club of Chicago. The millions the Citadel founder spent in a failed bid to get Republican Gov. Bruce Rauner re-elected—not to mention the additional tens of millions he spent in a successful bid to nix the progressive tax, the passion project of Rauner’s Democratic successor, fellow billionaire J.B. Pritzker—are evidence enough of Griffin’s conservative bona fides.

So, Griffin isn’t a conservative as a result of his recent brush with crime.

But the alarm over violence becoming a commonplace occurrence in the lives of Chicagoans of all backgrounds, income levels, and political persuasions is understandable and hitting closer to home for even the most powerful people in the city. Just as a for-instance: Late last month, an officer guarding Cook County Board President Toni Preckwinkle’s home, mere blocks from the Kenwood home of Barack and Michelle Obama, shot at a suspect during an attempted carjacking.

In fact, carjackings have reached epidemic proportions in and around Chicago. The Chicago Sun-Times reports 2021 is on pace to be the worst year in two decades for carjackings in Cook County, with 43.5% more incidents countywide this year than in the same period last year, when carjackings also were way up over the year before. That’s on top of the grim tally of gun-related crimes

ECONOMIC CLUB OF CHICAGO

I

Chicago’s worth saving. Biz leaders can help.

Ken Griffin within Chicago city limits so far this year, with 3,669 people shot as of this writing, and 668 total homicides. The Chicago area has experienced more than 185 expressway shootings so far this year. The bullets are flying in River North, in Hyde Park, in Gresham, in Jefferson Park, in the Gold Coast, in Sauganash, in the Fulton River District, in Austin and in the Loop.

No neighborhood is entirely safe from this epidemic. So Griffin is right to express grave concern about the crime wave that’s rattled all corners of the city. And his viewpoint carries more weight than most because, unlike many Chicagoans worried about crime, Griffin has the means to live and work virtually anywhere in the world, and his potential decision to relocate his business because

he’s tired of worrying about violence has implications for Chicago’s economy as well as its image. The city’s reputation for crime isn’t helpful in attracting investment, to put it mildly.

Griffin is right to speak out on an issue that’s grown to be as damaging to Illinois’ economic well-being as our woefully underfunded public employee pensions. His stance merits only two quibbles: First, that his remarks before the Economic Club give the impression he’s allowed his long-standing feud with Pritzker to color his judgment about who is ultimately responsible for the crime problem wrenching this city. Griffin took several whacks at the governor, though it’s the mayor, not the governor, who has the authority and the obligation to ensure the

safety of Chicago’s streets. Pritzker can and should provide law enforcement support to Mayor Lori Lightfoot if she asks for it, but policing is a city function, and the mayor should be held accountable for the Chicago Police Department’s failure to serve and protect city residents.

Second, as Crain’s Elyssa Cherney reported in the wake of the Economic Club appearance, Griffin is one of the city’s most prominent and influential philanthropists, giving literally hundreds of millions of dollars to worthy causes, particularly in the realms of the arts, culture and education. Fair enough.

But a slim slice of his overall giving has gone to crime-prevention programs over the years. That’s his choice, of course. But there are organizations—such as ones recently highlighted on this page—doing remarkable work in the area of violence prevention, aiming to support at-risk young men who need help turning their lives around. We’re certain such grassroots groups, including Chicago CRED, Readi Chicago and Communities Partnering 4 Peace, would welcome Griffin’s involvement with open arms.

Chicago is unlike any other big city in the nation. With world-class universities, a gorgeous lakefront, a fascinating history, a manmade mountain range that consists of some of the most architecturally significant structures on the planet, rich cultural traditions, relatively affordable housing, far-reaching transportation networks, key corporate headquarters and a hardworking populace, Chicago is worth saving. That can’t be done without leadership, and the business community has a particularly important role to play in that project. That means doing more than merely complaining about crime. That means standing up and doing something about it.

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The beef with McDonald’s climate promise

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signal to our partners, to our ins a child, it was a vestors,” McDonald’s said. But a rare but memorable net zero commitment is not a clioccasion when my mate solution: It’s an accounting health-minded mothtrick. The signal it sends is nothing er would take me for a Happy more than a blip on the radar of Meal. These days, as a mother climate action. brimming with data about the Scientists have long warned environmental impacts of Happy that net zero emissions targets Meals, I find it hard to think about are insufficient to avoid climate the future my son faces and see catastrophe. Net zero claims, these meals as happy. The Mcmuch like carbon offsets, offer Donald’s beef footprint alone Jennifer Molidor climate-friendly branding for produces more than 22 million is the senior food high-emissions industries withmetric tons of greenhouse gases campaigner at out adequately addressing the every year. The company’s recent the Center for announcement that it would aim Biological Diversity problem or changing key damaging factors in their supply chains. for net zero emissions by 2050 in Tucson, Ariz.

Recent reports from the Inmay have looked like a step in the right direction—but there’s more to the story. tergovernmental Panel on Climate Change Fund managers controlling $30 trillion and the Climate Crisis Advisory Group have in asset funds recently warned 1,600 of the sounded the alarm that net zero by midcenworld’s biggest polluters, including Mc- tury targets will not be enough to prevent atDonald’s, to set science-based emissions mospheric carbon dioxide equivalent levels reduction targets. In response, McDonald’s from climbing beyond the safe zone. Promannounced it was accelerating its climate ac- ising to take three more decades to address tion to reach net zero emissions by 2050. The emissions, after decades of calls to take cliclimate commitments were made to “send a mate change seriously, isn’t a climate com-

mitment or a real signal to investors—it’s greenwashing.

Even so, the Chicago-based company has not shared how it plans to meet its net zero by 2050 goal. It’s one of the biggest beef purchasers on the planet. Its beef footprint alone produces one-third of the nation’s entire beef emissions, equivalent to the emissions generated by roughly 4.8 million cars. Meanwhile, the company continues to expand, opening new stores around the world.

Study after study confirms what we already know—that cutting back on beef is one of the most effective ways to reduce our carbon footprint. Food production is responsible for 37% of global emissions, and beef is the leading food source for greenhouse gas emissions. Scientists have shown that shifting to plant-based meals could cut agricultural emissions in half. Reducing cattle would reduce methane, a greenhouse gas 86 times to 89 times more potent than carbon dioxide and responsible for more than a quarter of current warming. Yet there’s been no mention of beef reduction by McDonald’s.

Producing less beef would also address inefficient land-use systems by opening more

Write us: Crain’s welcomes responses from readers. Letters should be as brief as possible and may be edited. Send letters to Crain’s Chicago Business, 150 N. Michigan Ave., Chicago, IL 60601, or email us at letters@chicagobusiness.com. Please include your full name, the city from which you’re writing and a phone number for fact-checking purposes.

P010-P011_CCB_20211011.indd 10

Gene and

land to grow plants for human consumption rather than livestock. Currently the U.S. does not produce enough fruits and vegetables to meet USDA daily guidelines for adults, but we overproduce beef and dairy.

McDonald’s has a tremendous amount of power and, as such, a tremendous opportunity to shift sustainability efforts toward solutions that work. It’s unlikely that people will stop eating burgers. But how many burgers they eat may be driven by the options they find. If McDonald’s really wants to make a climate commitment that works, it should reduce the amount of beef, dairy and chicken it buys, make portion sizes reasonable, and offer a variety of veggie-based options.

That’s where the real opportunity lies—in designing new and exciting menus that reflect the urgency of climate change.

Anything less isn’t a climate commitment but a distraction from the fact that McDonald’s is dragging its feet. The company may join corporate roundtables with voluntary benchmarks to keep investors satisfied, but without serious menu shifts by the biggest purveyor of beef, crucial progress keeps being delayed. Meanwhile, the clock is ticking.

Sound off: Send a column for the Opinion page to editor@ chicagobusiness.com. Please include a phone number for verification purposes, and limit submissions to 425 words or fewer.

10/8/21 4:19 PM

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 11

LETTER TO THE EDITOR

Make this man Chicago’s anti-violence czar

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egarding Crain’s editorial (“Finally, something business leaders can do about crime,” Sept. 24): Arne Duncan of Chicago CRED is quick to praise the spirit of collaboration among the violence prevention groups, nonprofit and governmental, but he has two laments: They’re only reaching about 10% of the target group because they can’t afford to hire enough intervention workers, and there’s no single individual—no “czar”—to coordinate an effective collaborative strategy.

My solution is simple: Make Duncan, who has a wealth of administrative and leadership experience in the public and nonprofit worlds, the violence prevention coordinator—the czar, if you will—with a mandate to bring all the stakeholders together to formulate intervention strategies, guesstimate their cost and identify funding sources.

Visualize Duncan, or whomever, convening meetings that include representatives from city, county, state and federal governments and from business, civic, labor, religious and community organizations.

Why such a large and diverse group when the bulk of the violence is confined to a dozen or so of Chicago’s 77 neighborhoods? Because its impact affects all of us by making the city an unattractive place to live, work, play and raise a family.

It seems to me that Chicago is at an inflection point, a moment where we either step up and go all in to reduce the violence or watch our beloved city become more and more ungovernable and unlivable.

To me, and I hope to most of you, the choice is easy.

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CRAIN’S CHICAGO BUSINESS

Chief executive officer KC Crain Group publisher/executive editor Jim Kirk Associate publisher Kate Van Etten Editor Ann Dwyer Creative director Thomas J. Linden Assistant managing editor/columnist Joe Cahill Assistant managing editor/digital Ann R. Weiler Assistant managing editor/news features Cassandra West

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12 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

A condo that’s both in Bucktown and above it Restaurants, the 606 and a Blue Line stop are all close to this third-floor condo, but it sits a few floors up over a quiet residential street BY DENNIS RODKIN

CHICAGO HOME PHOTOS

FROM HER THIRD-FLOOR BUCKTOWN CONDO, Jill Rupple can stay home to cook and watch the sun set over the Northwest Tower, a neighborhood landmark, or walk a few blocks and be surrounded by the fertile Wicker Park/ Bucktown dining and entertainment scene.

It is, Rupple says, “a perfect combination. I have families with strollers and kids on my street, but I have Etta and Big Star and Club Lucky” and other restaurants nearby, as well as an entrance to the 606 recreational trail and a CTA Blue Line stop.

Rupple bought the condominium, whose main living space is all glass on one side opening to a wide, roofed balcony, when it was newly built in 2009.

A dozen years later and now retired from the human resources field, Rupple and her Milwaukee-based husband are building a home on 35 acres in Wisconsin, “a very different place from my city life,” she says.

She’ll put the roughly 1,750-square-foot, three-bedroom condo on the market Oct. 6, represented by Karen Ranquist, a Berkshire Hathaway Home Services Chicago agent. The asking price is $815,000.

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Tanya Meyer joins Crain’s editing team tor and copy editor for Veteran business editor Commercial Observer Tanya Meyer has joined magazine in New York.

Crain’s as a copy editor.

Prior to that, she served She brings wide-ranging as digital editor for the experience—particularChicago Daily Law Bully in the realms of law, letin and its sister publicommercial real estate, cation, Chicago Lawyer media, marketing and fimagazine. Earlier in her nance—to the role.

Tanya Meyer career, she was an associMeyer most recently was a digital content coordina- ate editor at Crain Communica-

P012_CCB_20211011.indd 12

tions’ BtoB and Media Business magazines.

A graduate of Lewis University in Romeoville, Meyer, 36, hails from the south suburbs of Chicago. In her new position, she will work closely with Crain’s copy chief, Scott Williams.

“We feel fortunate to be able to add an editor with Tanya’s rich background to our editing

ranks,” said Crain’s Editor Ann Dwyer. “We have always prided ourselves on staffing our copy desk with journalists who care deeply about the quality of our content and see themselves as equal partners with the assignment editors, reporters and graphics editors on our team.

We’re confident Tanya will carry on that tradition.”

10/8/21 3:03 PM

CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 13

2021

Nonprofit board leaders donate money, chair fundraisers, advocate for their organizations and head mission-critical projects. And that’s all in a volunteer-day’s work for the leaders profiled here, who bring substantial professional expertise—legal, financial, managerial and entrepreneurial—to nonprofit boardrooms in the Chicago area. Some are retired; most kept up their volunteer pace as they led some of Chicago’s biggest firms through the dark days of the pandemic.

Need didn’t take a time out during the pandemic. Social services and health care organizations were overwhelmed with requests, many from

the city’s oft-neglected demographics; board leaders helped continue carrying out their organization’s mission even as lockdowns made it difficult. Board members at arts organizations rose to the challenge of keeping audiences and donors engaged through virtual programming.

These 70 leaders present an admirable picture of grace, not to mention resilience, under extreme pressure. The time, talent and treasures they donate to nonprofits of all kinds help make Chicago and its surrounding areas a better place to live.

By Judith Crown and Lisa Bertagnoli

GETTY IMAGES

METHODOLOGY: The honorees did not pay to be included. Their profiles were drawn from nomination materials submitted. This list is not comprehensive. It includes only executives for whom nominations were submitted and accepted after an editorial review. The honorees demonstrated that their volunteer work positively affected the nonprofits with which they are involved.

Working towards a better Chicago, together.

Congratulations to two of Chicago’s notable nonprofit board leaders.

Your leadership and commitment make our community stronger, together.

Reina M. Goodman

Vice President and Regional Manager, Retail

Robert McGhee

Senior Vice President and Market Manager, Community and Economic Development

53.com Fifth Third Bank, National Association. Member FDIC.

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14 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

DENNIS ABBOUD

MARK ACHLER

JOHN ANOS

ANGELA BARNES

STEVE BLONDER

Board chair Family Focus

Board member and immediate past president Mishkan Chicago

Board treasurer Easterseals Serving Chicagoland & Greater Rockford

Board chair Center on Halsted

Board president The Ark

At Mishkan Chicago, Mark Achler serves on the executive and finance committees, chaired its 2017 strategic planning process and guided an organizational redesign process in 2020 that clarified the organizational chart, implemented new processes for getting work done and rearranged departmental structures. This has resulted in an estimated 70 percent improvement in organizational effectiveness and impact. During the pandemic, Mishkan pivoted from in-person events to a full suite of online programs and Shabbat service broadcasts.

Achler, an early employee at Apple, is managing director at MATH Venture Partners, an early- to mid-stage technology venture capital fund. Achler is also a mentor at Techstars, the Junto Institute and several other entrepreneurial organizations, and he is an adjunct lecturer of entrepreneurship and innovation at Northwestern University’s Kellogg School of Business.

John Anos, global co-head of industrials investment banking at Deutsche Bank, has served as a board member, treasurer and chair of the finance committee of Easterseals Serving Chicagoland & Greater Rockford for 10 years. He worked with other board members and executive leadership to dramatically improve the organization’s financial standing over the past 24 months, including reducing debt by 40%. The organization employs more than 650 professionals who serve nearly 20,000 children, individuals with

The Center on Halsted works to secure the health and well-being of LGBTQ people in the Chicago area. Angela Barnes was instrumental in driving an expansion of efforts, such as the Youth Housing Program, toward Chicago’s South and West sides.

Her professional experience in risk management also helped the Center on Halsted venture into new areas of service, such as housing and the establishment of a clinic, and her background in DEI work has helped diversify the center’s board and staff. Her presence during the initial stages of the COVID-19 pandemic was important in securing government funds to ensure that staff was not laid off. Barnes, director of legal affairs and growth initiatives and general counsel at City Tech Collaborative, also serves on the center’s development committee.

Steve Blonder, principal at law firm Much Shelist, was first elected in 2016 to the board of the Ark, which helps Chicago-area Jews through food, shelter, health care and employment counseling. In 2021, nearly 2,700 clients received $1.3 million in direct assistance.

Recently Blonder chaired and established an executive committee for the strategic planning process for the “Ark at 50” capital campaign; oversaw the organization’s new branding and marketing campaign, designed to raise its profile within the community for clients, volunteers and donors; and led the overall strategic planning leading to a $16 million “Landmark Renovation” of the Ark’s community center, which entails major renovations and additions to enhance client services. He also is vice chair of the Chicago Bar Foundation’s Investing in Justice Campaign.

Dennis Abboud helped facilitate the merger of Family Focus and Chicago Child Care Society, two leading family support agencies with 378 employees, a $25.6 million operating budget and 11 community service areas throughout Chicago and northeast Illinois. He also oversaw the creation of a new board structure, identified a leadership team embraced by both boards and established committee goals. During the pandemic, Family Focus transformed its services to virtual contact and had $500,000 in direct contact grants reallocated to emergency support, such as food and supplies. Abboud, who is CEO of ReaderLink, North America’s largest full-service book distributor, leveraged business connections to provide celebrity endorsements including Katie Couric and Gabrielle Union.

He’s also promoted Family Focus within his own company, creating employee giving opportunities with matching funding.

disabilities and their families in two key pillars: comprehensive autism and behavioral services, and early learning and developmental services.

Community matters.

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Attorney advertising material.

P013-P029_CCB_20211011.indd 14

10/7/21 2:59 PM

Congratulations to

Joe Lacher as a Crain’s 2021 Notable Non-Profit Board Leader.

Joe Lacher

We thank Joe for his inspirational leadership, integrity and support as we move the dial with purpose and momentum in the fight against type 1 diabetes (T1D).

President, CEO and Chairman of the Board Kemper Corporation Chair, International Board of Directors JDRF

Kemper Corporation is a strong supporter of JDRF’s mission to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. Today, there are more than 1.6 million Americans who are touched by this disease, and JDRF leads the global T1D research effort to keep people healthy and safe until we find a cure.

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16 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

EVA BROWN

DAVID BROZ

Assistant treasurer and executive committee member Women’s Business Development Center

Board member and executive committee member Chicago Loop Alliance

Eva Brown helped lead rebranding efforts for the Women’s Business Development Center, which provides specialized curricula and workshops, women’s business enterprise certification and access to capital through education, debt and equity placement, and direct lending. Brown, vice president and segment lead of minority- and women-owned business/consumer business banking at U.S. Bank, contributed to the development of the center’s financial policies and procedures and worked closely with its Access to Capital director

to ensure women- and minority-owned businesses received vital resources. She also partnered with the center’s Access to Capital team on several workshops related to PPP loans and forgiveness.

David Broz, a principal in the Chicago office of architecture firm Gensler, helped create Alley Activate, transforming underutilized urban spaces into pop-up art installations, live music and social experiences. Surveys indicated that thousands of attendees from 110 ZIP codes spent millions in neighborhood establishments.

He invented and moderates the Downtown Futures Series, a bimonthly panel that attracts a global audience. He also co-developed the concept for Sundays on State and led the Gateway seats project, which turned an underutilized island in the center of State Street at Wacker Drive into an attractive place to eat and gather. As chair, Broz led the installation of automated digital pedestrian and traffic counters throughout the Loop, providing real-time data that allows the Loop Alliance to identify new place-making opportunities, smarter retail planning and better security management.

CHARLES C. CALLOWAY JR. Chicago executive board member; vice chair, national board of directors Spark Program

Charles C. Calloway Jr., a partner at law firm Chapman & Cutler, has been involved with Spark since early in his career, when he served as an educational mentor to middle schoolers. Today he brings expertise in organizational management and nonprofit governance from his service on other boards and fellowships, including the Urban League’s Impact program. After leadership determined that Spark’s greatest potential for sustainable effect is in supporting its regions to independently control programming and community engagement at local levels, he has been serving

as vice chair of the national board of directors. Calloway is also on the restructuring committee, creating a change management plan for the Chicago program to launch as an independent entity in July 2022.

CARLOS CARDENAS

DAVID CARLSON

Board member National Museum of Mexican Art

Corporate chair, board of directors JDRF Illinois

Carlos Cardenas, a senior vice president and group manager at Wintrust, has served for 12 years on the board—six years as chair—of the National Museum of Mexican Art, the nation’s leading Latino arts organization. Cardenas has been a chief proponent of the initiation of a capital and endowment campaign, placing the museum in its best shape ever financially. His efforts also helped the museum raise its national profile, being named recently as one of the Ford Foundation’s 20 American Cultural Treasures. Those efforts, along with the several major grants—philanthropist MacKenzie Scott awarded the museum $8 million—have helped the museum navigate the COVID crisis with minimal impact on its bottom line. Recent activities include the creation of a museum plaza. Cardenas is a Leadership Greater Chicago fellow.

David Carlson, managing partner and co-founder of Redwood Capital Group, is corporate chair of the Illinois board of JDRF. As gala co-chairs for two consecutive years, Carlson and his wife, Carrie, helped bring more than 2,000 philanthropists together to raise more than $7.1 million in 2019 and more than $9.1 million in 2020. When in-person fundraising events halted during the pandemic, they stepped up again, helping transition efforts from in-person to virtual events with a mix of live art, jazz and an evening program with John Ondrasik. This creative approach, now copied by many, was one of the first to launch in this for-

mat. He’s also used his newly built home as a LEED building showcase and to host a cocktail reception featuring its architect and builder, while also educating guests about JDRF.

Waterton Congratulates

Pete Vilim

on his recognition as one of Crain’s Chicago Business Notable Non-Profit Board Leaders.

We are inspired by Pete’s dedication and commitment to ending homelessness in our city.

30 S. Wacker Dr | Chicago, IL 60606 | 312.948.4500 | www.waterton.com

P013-P029_CCB_20211011.indd 16

10/7/21 2:59 PM

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 17

A big, unexpected donation: ‘Tremendous surprise’ As board chair at the National Museum of Mexican Art, Carlos Cardenas was among the many nonprofit leaders nationwide shocked by sizable surprise donations from billionaire MacKenzie Scott. She has donated nearly $20 billion, including an unrestricted $8 million to the museum, which prompted “tremendous surprise and utter shock” from the board, Cardenas said. Cardenas, senior vice president and group manager at Wintrust Commercial Banking’s Chicago Loop office and a Chicago native, talked to Crain’s about the benefits—and challenges—of the donation.

CRAIN’S: What was the board’s reaction upon receiving the $8 million donation from MacKenzie Scott?

CARDENAS: Tremendous surprise and utter shock. When our president/CEO received the notification that the museum had a major donor looking to give us a significant gift, we thought it was a phishing attempt. We’ve never had a donor approach us in this fashion, with really no formality. It was like, “Hey, big donor wants to give you a gift, please provide us your bank information and wiring instructions.” We were taken aback, but

after corroborating with a circle of folks in the art world from the West Coast, we gained comfort it was legit. However, we did not know it was MacKenzie Scott until the funds were already on their way.

Please put the donation in perspective.

It is by far the largest major gift we have received in our 39-year history. Our operating budget is around $5 million annually. It is a truly transformational gift with no restrictions. MacKenzie Scott explained her rationale best in her June 15 blog: “Teams with experience on the front lines of challenges will know best how to put the money to good use. We encouraged them to spend it however they choose.” We intend to use the funds wisely and purposefully.

How will you use it?

Going into 2020, the museum’s board of trustees had just spent the prior several years completing a five-year strategic plan review, which resulted in a feasibility study that identified the need to launch a major capital/endowment campaign with an initial $10 million fundraising goal for various strategic priorities. The timing was ideal, as we were ready for po-

tential uses of the gift. The $8 million MacKenzie Scott gift, along with the December 2020 $3.6 million Ford Foundation grant, has allowed us to make progress toward our established goals to protect and grow the permanent collection, expand programming with a local and national reach, develop a world-class website and establish a virtual museum, and establish an endowment.

The challenge will be to remain fiscally disciplined and focused, so that we continue to act on our mission—but now with some added financial flexibility. Our biggest challenge is to remain stewards and not waste/misuse these amazing gifts.

How will the gift affect future fundraising efforts?

We’ve expanded our original capital campaign goal to $20.1 million from $10 million and have met 66% of the revised goal. Good news breeds additional good news. Both the Scott and Ford Foundation donations have raised our profile.

Donors and foundations which have never been engaged with the NMMA are now actively seeking us out. We are keen to take advantage of this momentum and leverage these gifts to enhance our individ-

ual and foundation fundraising efforts. The public launch of our capital campaign is very timely.

Of the ways the museum plans to use the donation, which do you personally find most exciting?

First, of the $11.6 million received through these major surprise gifts, the board has designated around $7.3 million toward an endowment.

I am extremely pleased to strengthen our balance sheet. We’ve operated for the past 39 years year over year with little cushion other than a few hundred thousand dollars in a segregated account; this will ensure we have a safety net and operating flexibility for decades to come.

Second, we hope to create a groundbreaking digital experience that brings our permanent collection and exhibitions to life for online audiences across the world.

The pandemic forced us to rethink how we delivered the NMMA experience/mission. Our Yollocalli Arts Reach pivoted after-school programming, online, to ensure our youth had a place to connect with each other and continue to create their art. NMMA hosted a virtual opening for our 2020 annual Day of the Dead exhibition and curated videos to help the tradition come to life for viewers online. Our creative

Congratulations Robb and Scott,

teams developed the capacity to lead interactive virtual guided tours and moved art-making workshops to Zoom.

NMMA is stronger because of these virtual efforts, and we are excited at the expanded reach we now have with new audiences as we came to realize that through delivery of virtual content and programming, we are no longer limited by geography.

What does the gift mean for the future of the museum?

Given our location in Pilsen, we aim to remain free admission. The gift further enables our work in delivering arts-focused community outreach programs—art can soothe and can disrupt, but we especially see how art initiates conversations, reveals shared experiences and fosters understanding.

This gift will allow us to continue our commitment to providing exceptional visual and performing arts programs, arts education and professional development. We are excited to be building on 30-plus years of work elevating Mexican art and culture and are eager to look beyond the short term and into a bright and creative future, ensuring the NMMA remains meaningful for the next 50 years.

Robb Soles KPMG, Partner & Chair of the Illinois Board of the American Cancer Society

on being named as Crain’s 2021 Notable Non-profit Board Leaders.

Thank you for your dedication and contributions to KPMG and the community across Chicago and Illinois. Your leadership has an impact on our people and the beneficiaries of your community efforts that demonstrate our values of “Working Together” and “For Better”.

Learn more about KPMG’s audit, tax, and advisory services at kpmg.com.

© 2021 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Printed in the U.S.A. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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Scott Verschoor KPMG, Managing Director & Chair of the Music Institute of Chicago Board of Trustees

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18 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

MARGARET “MARGIE” CHRISTIE Board chair Cures Within Reach

Cures Within Reach leverages the speed, safety and cost-effectiveness of the testing of already approved therapies. As its board chair, Margie Christie, a partner at law firm Golan Christie Taglia, has led the nonprofit through a strategic growth initiative and a change in leadership while helping grow its income. She also helped it improve its critical programmatic versus management and fundraising expense ratio and increase its grant and award commitments for four years straight. During the last 18 months, the nonprofit launched three new population areas of focus, in addition to its disease-specific and geographic areas: diversity, equity and inclusion, including clinical trials both to reduce health disparities and to be led by racial and ethnic minority or underserved scientists; pediatrics; and veterans and military. As both restricted and unrestricted income grew, more than 15 new trials were approved or funded.

ELLEN-BLAIR CHUBE

DANIEL CONTRERAS

HARRY DRUCKER

MICHAEL EVANGELIDES

Board secretary Chicago Children’s Choir

Board chair Ensemble Español Spanish Dance Theater

Board chair Environmental Law & Policy Center

Member, medical center board of directors Ann & Robert H. Lurie Children’s Hospital of Chicago

The Chicago Children’s Choir is a network of 140 choirs in 45 of Chicago’s 77 community areas, offering 5,000 diverse singers, ages 8-18, access to training and life-changing performance opportunities.

Ellen-Blair Chube, partner, managing director and client service officer at William Blair Investment Banking, has played a vital role in the maturation of the children’s choir’s organizational processes. She served as multiyear chair of the board development committee and in 2019 led the annual gala.

Chube has been a strong advocate for expansion of the choir’s comprehensive Raising Voices

campaign, the establishment of the endowment, and various unique artistic projects. She also served as a lead advocate for choir’s two-year, $200,000 corporate partnership with William Blair.

Daniel Contreras, director of technology strategy at Microsoft, has been Ensemble Español’s chairman for two years. Its mission is to present the dance traditions of Spain and provide opportunities to the community to explore dance semiprofessionally. He is leading an ensemblewide digital transformation, corporate reorganization and succession plan as well as developing a five-year strategic plan leading up to the 50th anniversary. He grew the “give/get” from zero to $18,000 in year one and, in a season where corporate sponsorships have decreased, the ensemble’s

increased more than 75%. He also serves on the governance, development, youth department (recruiting high school students to volunteer their time) and executive committees.

The work of the Environmental Law & Policy Center, the Midwest’s premier environmental legal advocacy and eco-business innovation organization, spans the Great Lakes to the Great Plains. As board chair and active director, Harry Drucker—retired from North Shore Realty Partners—works closely with the center’s senior team and engages other board members on successful campaigns protecting the Midwest’s natural areas, including the Midewin National Tallgrass Prairie, Upper Mississippi River National Wildlife & Fish Refuge, and Lake Michigan. He also works with the center’s executive director and development director as a fundraising partner, helping the organization grow its annual revenue budget to $10 million from $3 million while sustaining a strong financial platform. Drucker is also a trustee of the Nature Conservancy-Illinois.

Michael Evangelides, principal at Deloitte Consulting, helped advise Lurie on obtaining federal funds during the pandemic as well as strategic perspective on how to leverage technology to help avoid delays or overruns. He’s served as a fundraising campaign leader for the two capital campaigns at Lurie, including the $650 million campaign for building the Streeterville hospital campus and Lurie’s current For Every Child campaign. Evangelides also launched the Gus Foundation, which includes the annual “Run for Gus” that has become one of the largest 5K runs held on a weeknight in Chicago; it has raised north of $2.2M for research and treatment at Lurie.

He’s served on the governance review teams for both the medical center and foundation boards and was featured on a Chicago-area radiothon for Lurie.

CONGRATULATIONS

TO JOHN C. ROBAK

DQG DOO RI WKLV \HDU¶V 1RWDEOH 1RQSUR¿W %RDUG /HDGHUV We salute our Board Chair John Robak, CEO of Greeley and Hansen, D &UDLQ¶V &KLFDJR %XVLQHVV 1RWDEOH 1RQSUR¿W %RDUG /HDGHU )RU \HDUV ZH KDYH EHQH¿WHG IURP -RKQ¶V FKDUDFWHU DQG EXVLQHVV VWUHQJWKV %XW PRVW UHPDUNDEO\ ZH¶YH ZLWQHVVHG -RKQ¶V WLUHOHVV FRPPLWPHQW WR QRW RQO\ LPSURYH RXU FRPPXQLW\ EXW WR OLIW XS DQG FUHDWH DFFHVV DQG RSSRUWXQLW\ IRU WKRVH DURXQG KLP

A good head and a good heart are always a formidable combination.

- Nelson Mandela

chicago-united.org

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 19

MICHELLE FLOWERS WELCH Advisory board member, communications committee chair The Salvation Army Metropolitan Division

Michelle Flowers Welch, chairman of Flowers Communications Group, has guided the Salvation Army toward landing placements in a broader, more multicultural range of media outlets in the Chicago market while also streamlining its communications and public relations processes. As requests for help at the 28 corps community centers and 50 social service programs skyrocketed during the pandemic, she was an integral part of the conversation that created the Doing the Most Good branding and awareness campaign. Flowers Welch also provided strategic input during the 2020 Christmas campaign, which started two months early to raise awareness of immense need and the funding required to address it. She is on the Salvation Army Chicago advisory board, the executive committee as vice chair and the communications committee as chair.

ZED FRANCIS

LINDA GANTZ

HEATHER GARDNER

MARIN GJAJA

Board chair Bridge Communities

Women’s board member Boys & Girls Clubs of Chicago

Finance committee chair Civic Leadership Foundation

Board co-chair Advance Illinois

Zed Francis has been a board member for nine years at Bridge Communities, which transitions families without homes to self-sufficiency through mentoring support, stable housing and access to education and wage-earning opportunities.

Retired from Bank of America, Francis as helped Bridge secure more than $6.3 million for its “Investing in Homes+Hope” capital and endowment campaign. He also created the policy and procedures to oversee spending, upgrade the organization’s year-end reporting processes and improve the management of its endowment, which is now valued at more than $3 million. Francis collaborated with staff and the board to recruit six board members in one term cycle, and he helped create a program directed at teens to ensure they have an education or work plan once they graduate high school.

Linda Gantz has chaired record-breaking fundraising events for the Boys & Girls Clubs of Chicago, making personal asks of friends and family in support of the 20,000 children the clubs serve.

A key effort is with the organization’s scholarship program, where she participates annually in its “rising stars” interview process for students seeking scholarship support for postsecondary education; Gantz continues to follow recipients’ success long after the funds have been distributed. In 2014, she stepped up as the first board member to support the clubs’ endowment with a $2.5 million gift. More recently, she made an additional $1 million gift in honor of her 80th birthday.

In 2019, the organization named a club in honor of her and her husband in the Lathrop community, a facility that’s considered a game-changer for the youth there.

The Civic Leadership Foundation provides project-based leadership programs for middle school students to help them succeed.

As treasurer and chair of the foundation’s finance committee, Heather Gardner has been actively engaged in redesigning the reporting of the organization’s finances, developing effective agendas and operational reports, and reviewing and assessing senior staff. Responsible for financial institution business development and relationship management at William Blair Investment Management, Gardner has been active in both fundraising and “friendraising,” recruiting several professionals to the board

As managing director and senior partner at Boston Consulting Group, Marin Gjaja has rallied millions of dollars’ worth of pro bono consulting support to Advance Illinois in its work for a healthy public education system that stresses college and career readiness. With his support, Advance Illinois helped revamp the state’s annual school report card, overhauled the state’s inequitable funding formula and announced a plan to support and govern early childhood education and care. Gjaja also helped Advance develop a strategy for responding to COVID learning disruptions through a statewide learning-recovery planning process. He also worked with the organization’s president to identify key operational issues and, along with pro bono Boston Consulting professionals, helped Advance Illinois’ senior team establish salary bands, revamp its evaluation systems and implement project management strategies.

who’ve brought connections and expertise to the organization. A certified investment management analyst and accredited investment fiduciary, she serves on the Sustaining Fellows program committee of the Art Institute of Chicago.

ADVOCATE.

Congratulations to NGE partner John Koenigsknecht on his well-earned recognition as one of Crain’s 2021 Notable Nonprofit Board Leaders.

COLLABORATOR.

President of the CommunityHealth Board of Directors, John and his engaged leadership were on display over the past year as he led the board to fulfill their mission to serve those without access to essential healthcare during the most critical of times.

LEADER.

As a values-driven business, Neal Gerber Eisenberg is proud to support Chicago’s vibrant non-profit community.

www.nge.com

We are proud to be an integral part of the communities in which we work and live. For more than three decades we have generously shared our compassion, time and legal experience to help those around us. Learn more about the impact of our efforts by visiting www.nge.com/CSR

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20 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

REINA M. GOODMAN

SARA GRANACK

JOANN GRUCA

NICOLAS GUZMAN

FRANCIA HARRINGTON

DA

Board chair Instituto del Progreso Latino

Board chair Bernie’s Book Bank

Director Pathlights

Board president Erie Neighborhood House

Board chair Ingenuity

Boar Betw

During the pandemic, Reina M. Goodman helped lead Instituto del Progreso Latino’s relief efforts as it served 63,000 meals at its drive-thru food banks and provided rent, cash and utility assistance of nearly $700,000 to more than 300 families.

She helped establish partnerships with funders including Target, ComEd and the Polk Bros.

Foundation. As part of Chicago’s efforts to track the spread of COVID-19, Instituto’s contact tracers helped reach more than 45,000 people. Goodman, who was born in Mexico and migrated to the U.S. when she was 7, has been active at Instituto for more

Since 2009, Bernie’s Book Bank has distributed 20 million books with the goal of empowering underserved children to read their way to a better life.

Sara Granack, vice president of corporate communication and reputation at CDW, helped restructure Bernie’s Book Bank’s committees and bylaws to match the needs of a growing organization. She implemented tracking protocols and accountability/expectations and then transitioned the board from an operations-focused entity to one focused on fundraising. At the onset of the pandemic, she led emergency board meetings to discuss financial concerns and helped launch the Change Their Story campaign to benefit the 275,000 underserved Chicago-area children who receive Bernie’s Book Bank books. Additionally, she is one of the first board members to make her personal gift annually, setting expectations for others.

Now retired from her professorship with St. Xavier University, JoAnn Gruca has for 35 years been a director of Pathlights, an organization that guides adults along the best path to aging in 20 communities in the south and southwest suburbs of Cook County.

She is a past chair of the board committee, served as secretary of the board (renewed for nine years) and as chair/president (renewed two additional years), and was a past member of the rebranding task force, which attracted a wider scope of funding and strategic partners. Gruca has been a lead supporter for the organization’s annual luncheon, which raises funds to continue supporting Pathlights’ mission.

She was a significant part of a board challenge that achieved a matching grant goal through the Giving Tuesday campaign.

Erie Neighborhood House serves families in the immigrant and low-income communities in Chicago through education, access to critical resources and advocacy.

Nicolas Guzman began as a volunteer in the youth program, tutoring young students through Erie House’s TEAM program, and has been on its board for more than 10 years. Guzman, a partner at law firm Faegre Drinker Biddle & Reath, represents Erie House in a variety of community and business networks and, through the contributions of his Faegre Drinker colleagues, has been able to manage or assign all major legal matters on a pro bono basis. His expertise has also enabled Erie House to formalize its corporate governance documents and process and was instrumental in the negotiation of its first union labor contract.

Ingenuity was founded in 2011 to increase arts education access in Chicago Public Schools.

Francia “Francee” Harrington helped catalyze the citywide process that led to Ingenuity’s founding and is its founding chair. A senior adviser with Open Door Advisors and co-founder of Chicago Food System Resource Navigator, she’s also belonged to or led almost every Ingenuity board committee. She spearheaded an effort to nearly double the number of board members, from nine in 2017 to 17 in 2021, while increasing board diversity to 50% people of color. Most recently, she led the planning and execution of Ingenuity’s first virtual fundraising event in May to celebrate the organization’s 10th anniversary; it included remarks from Mayor Lori Lightfoot and musician Yo-Yo Ma and more than quadrupled its goal.

Whe cipa at Ne Betw

than 12 years. Goodman is a vice president in retail banking at Fifth Third Bank, where she’s responsible for the growth and success of a $1.6 billion region with 16 financial centers and a team of more than 100 employees.

CONGRATULATIONS LINDY HIRSCHSOHN! From an anonymous donor

O O O

Your contribution to

is benefiting early education in Chicago every day O O O

www.vocel.org

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 21

DANIEL HERNANDEZ

AUSTIN HIRSCH

LINDY HIRSCHSOHN

MARY ANN HYNES

TADD INGLES

Board president Between Friends

Treasurer Bulletin of the Atomic Scientists

Board member VOCEL

Board chair Association House of Chicago

When Daniel Hernandez, principal and managing attorney at NextLevel Law, first joined Between Friends’ board, he recommended a revamp of the organization’s logo and website. Through his leadership, Between Friends, which is dedicated to preventing cycles of domestic violence, also has a comprehensive plan to grow into a $2.5 million organization while strengthening its youth education program, REACH. Hernandez was able to acquire the largest amount of small donations from individual donors as well as a $20,000 grant from the Reva & David Logan Foundation. His most notable fundraising accomplishment was eliminating the board’s “give/ get” requirement, seen as a barrier to participation for many. He has recommended the use of virtual assistants and technologies to increase efficiency, as well as a review of all vendor contracts, 401(k) plans and insurance policies to find cost savings.

The Bulletin of the Atomic Scientists informs the public about nuclear risk, climate change and disruptive technologies. Since joining the board in 2010, Austin Hirsch, a partner at law firm Reed Smith, has led several projects that help ensure the organization’s financial foundation. These include revising governance guidelines and bylaws, leading the search for a new audit firm and negotiating several key contracts.

He helped in a lease termination process that enabled the Bulletin to return to its University of Chicago roots; helped defend the intellectual property rights of

After having assisted more than 10 other nonprofits, Lindy Hirschsohn, an alumna partner at Boston Consulting Group, provides VOCEL with strategic support and helped underwrite a “masterclass” series that has brought its expertise in child development to a broader audience. Since joining VOCEL she’s studied neuroscience, poverty and educational best practices, becoming a trusted source of innovative ideas.

She is also the board’s leading expert in major-gifts fundraising and in 2017 helped orchestrate VOCEL’s largest event, inviting Arne Duncan to be VOCEL’s key-

Founding board member and co-chair, board development committee Girls Inc. of Chicago

the organization’s trademarks; galvanized the board and staff to pursue a PPP loan; and helped preserve future protection and use by the Bulletin of its globally recognized Doomsday Clock.

note speaker, attracting record attendance. She also pioneered VOCEL’s fundraising dashboard, helping the team develop a systematic way to segment donors, track revenue growth and improve donor acquisition and retention.

Mary Ann Hynes, senior counsel at Dentons, is a founding board member of Girls Inc. of Chicago.

The nonprofit provides education, wellness checks and mentoring for girls in Chicago’s Little Village, Chatham, Grand Crossing, Hegewisch, Riverdale, Pullman, Roseland and Bronzeville communities. Hynes serves as co-chair of the board development committee, which is responsible for governance, recruitment, strategic planning, board training and compliance.

She guided and informed Girls Inc.’s strategic planning processes and directly contributed to its ability to receive two capacity-building grants during the 2021 fiscal year. She helped raise the organization’s profile by tapping into her network to develop relationships and receive gifts from individuals, corporations and organizations. Girls Inc. of Chicago now serves more than 800 K-12 girls.

Tadd Ingles, a partner in Central Region Assurance Services at Ernst & Young, led Association House of Chicago through the pandemic without closing its doors and maintaining outreach to developmentally and intellectually disabled people who require face-to-face services. He also helped the nonprofit achieve one of its strongest financial years ever while managing a seamless transition in its top leadership.

He stewarded the organization through the application of its $1 million PPP loan to shift its services for hundreds of individuals on-site almost overnight to remote learning, telehealth and teletherapy services. As a facilities expert, Ingles not only oversaw Association House’s $5.7 million bond compliance, but also guided it through the remediation of a winter flood that caused $500,000 in damage. He led the board through its first-ever virtual gala, raising $130,000.

Congratulations Ellen-Blair Chube & Heather Gardner Ellen-Blair Chube

M A NAGING DIR ECTOR , CLIE N T SERV ICE OFFICER IN V E STM E N T BA N K ING

Heather Gardner, CIMA, AIF

SEN IOR CLIEN T R EL ATIONSHIP M A NAGER IN V E STM E N T M A NAGEM E N T

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CR AIN’S NOTABLE NON-PROFIT BOARD LEADERS

Thank you Ellen-Blair for your community engagement with the Chicago Children’s Choir, and Heather for involvement with the Civic Leadership Foundation. It is an honor to work alongside such dedicated, collaborative colleagues who inspire us all.

About William Blair William Blair is a premier global boutique with expertise in investment banking, investment management, and private wealth management. We provide advisory services, strategies, and solutions to meet our clients’ evolving needs. As an independent and employee-owned firm, together with our strategic partners, we operate in more than 20 offices worldwide. For more information, please visit williamblair.com.

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22 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

DEBRA JENNINGS JOHNSON Board chair Women’s Business Development Center

Debra Jennings Johnson, recently retired as senior director of supplier diversity at BP America, has served 23 years on the Women’s Business Development Center’s board of directors, leading it through a successful founder transition and helping to elevate its already significant national profile. She assisted the center in expanding to multiple offices within the Chicago area as well as in the Twin Cities, Milwaukee, St. Louis and Kansas City. During the pandemic, she was instrumental in supporting the nonprofit’s efforts in pursuing private- and

public-sector funding to support the center’s growth and support from corporations, foundations and government. Her expertise in supply-chain diversity guided the creation of nontraditional purchasing and strategic alliances.

Austin Hirsch Partner, Chicago ahirsch@reedsmith.com

ANNE KAPLAN

SHAWN KASSERMAN

JAZMIN CHEEFUS KELLY

JOHN KOENIGSKNECHT

JOS

Board chair Joffrey Ballet

Board president Kids in Danger

President/chair of board of directors CommunityHealth

Boar JDRF

Anne Kaplan, co-founder of Insight Environmental Design, helped Joffrey fulfill a $12 million fundraising goal for its Crisis Stabilization Fund.

The Joffrey’s five-year strategic plan, known as Joffrey for All and fostered by Kaplan, drove the recent purchase of 1920 S. Wabash Ave. in the South Loop, a space that enables students from around Chicago to participate in Joffrey-related programming.

Her involvement with the Joffrey Women’s Board has been instrumental in raising necessary funding for the Nutcracker Costume Maintenance Initiative, which funds costume and set design maintenance for future productions of “The Nutcracker.” Kaplan also helped enable the Joffrey’s pivot to digital programming, produced at Joffrey Tower during the pandemic, which reached thousands of new audience members around the world.

Shawn Kasserman, a founding member of Tomasik Kotin Kasserman Trial Lawyers, in 2017 became president of Kids in Danger, where he oversees operations, interviews potential board members and conducts regular financial review.

Kasserman was introduced to KID’s mission—saving lives through safer product development—when he represented a family in a lawsuit against a product manufacturer. He joined the organization’s board in 2004 and, after its 20th anniversary, led efforts to develop and launch KID 2.0, a series of projects that seeks to develop new informational tools to keep children safe.

At the beginning of the pandemic, the nonprofit pivoted from workshops and fairs to webinars and online education designed for parents, child care workers, secondhand retailers and health care providers.

Board president South Shore Drill Team & Performing Arts Ensemble

John Koenigsknecht, chair of the corporate and securities practice group and an equity partner at Neal Gerber Eisenberg, has served for more than 12 years with CommunityHealth, the nation’s largest volunteer-based health center.

Under his leadership, CH revised each of its committee charters, and he was on the team that produced an ambitious three-year strategic plan. Koenigsknecht helped plan the hosting of the All In Thought Leadership Initiative and arranged for Neal Gerber Eisenberg to provide legal services to CH on a pro bono ba-

Josep man doze area

sis. Shortly after Koenigsknecht helped recruit a new executive director, CH administered thousands of COVID-19 tests and vaccinations and opened the first telehealth microsite in Illinois.

an o He h orga whil that fund and

The South Shore Drill Team uses performing arts to engage youth throughout their critical teenage years. Jazmin Cheefus Kelly, who is retired from corporate law, has served as board president for two years. While the past 18 months had been difficult after it was announced that support from a major funder would end in 2025, Kelly led a fundraising resurgence that resulted in a 26% increase in individual donations. Meanwhile, over 15 months, the board has refreshed the drill team’s functional job analysis and key roles, responsibilities and processes; created a more cohesive marketing strategy; enhanced its fundraising strategy, identifying previously overlooked sources; and redesigned how the drill team engages Chicago’s youth beyond the South Shore community.

Congratulations to our colleague Austin Hirsch for being honored for his work on the board of the Bulletin of Atomic Scientists.

ABU DHABI ATHENS AUSTIN BEIJING BRUSSELS CENTURY CITY CHICAGO DALLAS DUBAI FRANKFURT HONG KONG HOUSTON KAZAKHSTAN LONDON LOS ANGELES MIAMI MUNICH NEW YORK PARIS PHILADELPHIA PITTSBURGH PRINCETON RICHMOND SAN FRANCISCO SHANGHAI SILICON VALLEY SINGAPORE TYSONS WASHINGTON, D.C. WILMINGTON

reedsmith.com

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 23

HT

JOSEPH LACHER JR.

JORDAN LAMM

MARK LAUBACHER

MARY LAWRENCE

BETSY LEHMAN

ctors

Board chair JDRF

Board chair Illinois Holocaust Museum & Education Center

Board member BEDS Plus Care

Board member Magdalene House Chicago

Mark Laubacher chairs a $1.4 million capital campaign to match $1.5 million in public funding for a medical respite facility for homeless adults with disabling conditions, personally raising more than $125,000. The agency serves homeless people in the western suburbs. Laubacher also is co-founder and vice chairman of Silver Birch Living, a developer and operator of affordable assisted living communities. The facility in Summit will have 10 rooms for 24 people and is slated for completion in the third quarter of 2022. Laubacher served as board president for a three-year term that ended in June and steered the agency through the response to COVID-19. Changes during the pandemic included emergency-shelter restructuring and fundraising efforts that generated $250,000 in private support for COVID services.

At the young nonprofit that supports female survivors of sex trafficking, Mary Lawrence serves on the housing, finance and events committees. She’s also president of Richards Graphic Communications in Bellwood.

As a member of the housing committee, Lawrence has toured dozens of houses to help Magdalene House select and secure a location for its residential program. As recent board chair, Lawrence led fundraising for the home acquisition.

She launched the Young Professionals Board to expand the organization’s reach among younger supporters. And she diversified revenue by establishing relationships with private foundations. As a member of the events committee, she successfully helped transition Magdalene’s 2020 annual benefit online, raising more than $100,000. Lawrence provides pro bono printing, graphic design and direct mail support in the range of $15,000 annually.

Board chair James B. Moran Center for Youth Advocacy

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Joseph Lacher Jr., CEO and chairman of Kemper, has over the last dozen years worked in many areas across JDRF, a leading research foundation focused on Type 1 diabetes. He served with two JDRF chapters—Illinois and Hartford, Conn.—as chapter board president, as corporate walk chair, as a Children’s Congress participant, as chair of JDRF’s international board of directors and as a member of the audit, talent and compensation, funding and CEO/ CDO search committees. Lacher and his family have also been

Jordan Lamm leads the board of the Skokie nonprofit, which honors the victims and survivors of the Holocaust by teaching lessons that combat hatred, prejudice and indifference.

He also is vice president and head of business development at In-telligent, a specialist in emergency alert technology.

Lamm earlier had a 25-year career at KPMG. Lamm has served on the Holocaust Museum board for nine years and became chair this year. He worked with the CEO to invest in interactive holograms and virtual-reality technology, revolutionizing how the museum teaches history.

His understanding of financial analysis, reporting and modeling has been key to his leadership positions, enabling him to assist with investment and debt retirement strategies, negotiating letter of credit renewals, conferring on PPP loan applications and navigating COVID-19’s budget impact.

an official Fund-A-Cure family.

He helped guide the national organization through COVID while garnering donor support that enabled JDRF to continue to fund 150-plus research projects and 20 clinical trials.

NOTABLE Q&A

For the past five years, Betsy Lehman has chaired the Evanston-based Moran Center, which provides community-based legal, social work and restorative services for youth and families. She brought experience as a legal aid practitioner and social worker in nonprofit management and fundraising. During her nineyear board tenure, Lehman has introduced hundreds of community members to the center’s work and mission, resulting in increased community support, including social media followers, community donors and event attendees.

Lehman has played a pivotal role in recently expanding the Moran Center’s service model to include restorative justice. As board chair, Lehman has helped grow the organization’s financial resources more than fourfold. She instituted an annual board review, providing members with the opportunity to assess their own performance and offer feedback on board governance.

Sponsored content

with James Mark

Why Nonprofits Need Strategic Leadership

As a strategist, James Mark believes an organization’s success depends on the alignment of its values with actions. At Wight & Company, he leads growth initiatives at Chicago-based, design-led design-build AEC and transportation firm, whose mission is to make communities more vital. Mark brings that same strategic approach to his years of commitment to local nonprofits. He has served on the board of the Chinese American Service League (CASL) for 10 years, and as chairman for seven years. CASL is the largest social service agency in the Midwest dedicated to serving the needs of the Asian American Pacific Islander community. Mark has also spent the last 15 years volunteering with the Friends of Chicago River, currently serving on the executive board as vice president.

CRAIN’S: What stands out most about CASL? MARK: CASL does an incredible job of keeping connected with the community. We identify their needs, quickly respond, and provide service with deep impact for all families.

Can you give an example?

CASL maintains a kitchen used to train chefs. When COVID hit, we began using the kitchen to prepare meals for seniors. In no time we were delivering 1,000 hot and culturally appropriate meals per week to over 350 seniors in six affordable senior housing buildings. To date, CASL has served over 350,000 meals in the greater Chicagoland community.

The level of need made us realize this should be a permanent offering. With the support of local elected officials,

P013-P029_CCB_20211011.indd 23

CASL secured the funds to build a new kitchen to prepare meals for senior members of the community.

Without the pandemic, we may not have realized this was a necessity.

Other examples?

The board partnered with Asian American Foundation National Hate Crime Network to address anti-Asian American hate crimes in Chicago.

CASL was chosen, along with New York and Oakland, to create a new Action Center focused on AAPI communities.

What are your goals for CASL? As board chair, my first goal was to oversee the challenging transition process of replacing our founder Bernie Wong. Paul Luu, our new CEO, has focused on a three-year strategic plan that resulted in expanding the

budget almost 30% to $18.75 million and growing our staff from 500 to 600 employees. CASL also rejuvenated our board, bringing in 80% new members who provide fresh perspectives and diversity.

How have nonprofits changed?

People and organizations who support nonprofits want to know the real impact on each dollar spent.

At CASL we use a CRM platform to capture real-time data from our case management system and address the changing needs of the community. This information helps us make informed and impactful decisions.

we had to pivot and get creative with virtual galas. We are finding people are worn out from events in the virtual space. As a result, we are finding other, more personal, ways to connect with donors and foster those relationships.

What have you learned from your work with Friends of the Chicago River?

Our most valuable resource besides clean air is fresh water. The organization has a clear mission and has tremendous impact for its size.

The Friends of the Chicago River is a great example of the importance of strong nonprofit leadership.

What is the biggest challenge for nonprofits?

Funding remains the biggest challenge. Given the pandemic,

10/7/21 2:59 PM

24 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

JERRY LUMPKINS

JAMES MARK

CHARLES MATTHEWS

ROBERT MCGHEE

SUZET MCKINNEY

CAR

President Bickerdike Redevelopment Corp.

Board chair Chinese American Service League

Board member United Way of Metro Chicago

Board president Thresholds

Boar Jacks

Jerry Lumpkins leads the board of the nonprofit engaged in affordable housing and redevelopment in the Northwest Side communities of West Town, Humboldt Park, Logan Square, Hermosa and Avondale. He’s also Chicago commercial real estate lead at Bank Leumi USA and brings more than 25 years of real estate experience to his nonprofit work. Lumpkins attended nearly all community meetings and City Council hearings in support of Bickerdike’s Emmett Street Apartments, a transit-oriented project in Logan Square scheduled to be completed early next year. Bickerdike was started in 1967 after residents fled to the suburbs to pursue jobs and the neighborhood eroded, vulnerable to gangs and crime.

Lumpkins also serves on the boards of Rogers Park Builders Group and Neighborhood Housing Services of Chicago.

At the Chinese American Service League, James Mark helped guide the response to COVID-19.

Mark also is chief strategy officer at design, engineering and construction firm Wight & Co. The league established PPE reserves and pivoted its case management system to remote work while seeing an 8% increase in client needs. The league also led in vaccination efforts, and almost all staff are fully vaccinated. When senior meal programs closed, the organization pivoted to deliver meals to low-income seniors. In recent years, Mark helped steward new corporate sponsors for events and aided in fundraising.

He’s served on the board since 2012 and also is on the Friends of the Chicago River board. He advocated for the Chinatown Library, Ping Tom Park and Leonard M. Louie Fieldhouse.

Charles Matthews has served on the United Way board since 2018, has been a member of the executive committee since 2020 and served as campaign chair for 202021. He’s also president and CEO of Peoples Gas and North Shore Gas. Matthews was instrumental in expanding the Campaign Cabinet, a group of corporate and civic volunteers that helps United Way raise money, from 10 to 50 members. He has championed the United Way campaign within his company, one of United Way’s 25 strongest campaigns. Adding 40 cabinet members enabled United Way to meet its fundraising goal even as the pandemic cut off access to corporate partners and their employee campaigns. Matthews has trained, mentored and supported new board members and recruited the next two years of campaign chairs.

Board chair Neighborhood Housing Services of Chicago

Suzet McKinney has drawn on her expertise in public health to help Thresholds navigate the pandemic. The organization, which supports people living with mental illnesses and substance use disorders, pivoted to offering most health care services virtually via telehealth. McKinney joined developer Sterling Bay this year as principal and director of life sciences from the Illinois Medical District, where she was CEO and executive director. McKinney helped develop, along with senior leadership, Thresholds’ first strategic vision in three years, which called for efforts on behalf of social justice and racial equity.

McKinney has served on the gala committee for the last three past years. She has also contributed personally to ongoing fundraising efforts, with multiyear gifts to Threshold’s $10 million capital campaign, and secured sponsorships from her network.

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Under Robert McGhee’s leadership, the board of the housing and counseling organization supported staff in navigating the pandemic and expanding services. The organization moved online and provided food and PPE. McGhee also is senior vice president and market manager of community and economic development at Fifth Third Bank and has decades of experience supporting low- and moderate-income communities. When President Kristin Faust left in

2019 to head the Illinois Housing Development Authority, McGhee led the search committee for a replacement, and Anthony Simpkins was hired last year.

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 25

CARRIE MEGHIE

RANDY MEHRBERG

PEGGY A. MONTES

EMILY NICKLIN

TOM NOLAN

Board chair Jackson Chance Foundation

Board member United Way of Metropolitan Chicago

Board member Chicago State Foundation

Board chair Planned Parenthood of Illinois

Board chair Genesys Works

Foundation director Peggy A. Montes is an alumna and former chair of the board of trustees of Chicago State University. She’s also president of the Bronzeville Children’s Museum.

Montes has brought years of operational, governance and fundraising expertise, along with lessons learned from her 40-year relationship with the university.

She’s been a key adviser to the executive director of the foundation, which was relaunched in 2019. Montes helped craft and update policies covering the endowment, gift acceptances, record retention and whistleblowers. She recently made a legacy gift to fund the university’s new child development center, named the Peggy A. Montes Playground. She has served on the development committee for the past three years and sponsored the foundation’s signature fundraising event, the 1stGEN Scholarship Gala, for its first two years.

Emily Nicklin leaned in to the responsibility of leading Planned Parenthood at a challenging time with the pandemic, loss of federal funding and threats on reproductive and sexual health care. She’s also a litigation partner at Kirkland & Ellis.

Nicklin drew on her nonprofit experience to help establish a task force that improved governance practices. She was the first chair of a newly created board fundraising committee and is a co-chair of the capital campaign.

Nicklin’s contributions accelerated following the presidential election of 2016, when she realized the urgency of ensuring access to reproductive health care. She has championed the campaign, garnered unanimous board support and committed a generous lead gift. Nicklin sees that her board colleagues have peer mentors and participates in the board’s peer-to-peer mentoring program.

Tom Nolan leads the board of Genesys Works, which provides pathways to career success for high school students in underserved communities through skills training and work experiences. Over the last 18 months, the organization pivoted to virtual summer training and remote internships.

Nolan retired in 2017 from Accenture, where he was managing director in the North America utilities practice. He’s helped raise the nonprofit’s profile by reaching out to his network of corporate contacts to secure internships, sell golf outing foursomes and recruit volunteers.

To better reflect the student population served, Nolan worked with the nominating committee to improve board diversity. Since 2019, half of new board members are women and three-quarters are Black, Indigenous or people of color. He’s helped improve financial reporting and budgeting.

The foundation, founded and chaired by Carrie Meghie, supports families that have critically ill babies in the hospital neonatal intensive care units, or NICU. Meghie also is co-president of private-equity firm Becker Ventures.

Last year, the foundation provided more than 2,000 families with parking passes and provided more than 500 masks to families at three city hospitals: Ann & Robert H. Lurie Children’s Hospital of Chicago, Northwestern Medicine Prentice Women’s Hospital and Rush University Children’s Hospital.

When Meghie was approached for an honor by Tiffany & Co., she turned that recognition into a partnership that honors NICU staff members for their leadership and service. Meghie has improved efficiency: Through additional investments and changes in custodians, the foundation maximized its investments, adding security and longevity to the organization.

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Jenner & Block co-managing partner Randy Mehrberg joined the United Way at a critical time.

As the pandemic amplified the challenges people face in meeting basic needs, it also placed additional burdens on already stretched social service organizations and economically challenged neighborhoods. Mehrberg was instrumental in the appointment of a Jenner & Block partner to serve on a pro bono basis as the organization’s first general counsel.

The law firm has provided pro bono counsel on issues such as corporate governance, taxes and data privacy. Mehrberg serves on United Way’s Stronger Neighborhood Committee, which seeks to transform neighborhoods by helping residents identify priorities and a set a strategy. Mehrberg also serves on the board of the Lincoln Park Zoo, where he chairs the Diversity & Inclusion Committee.

10/7/21 2:59 PM

26 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

AMY O’DONNELL

KEN O’KEEFE

MEGAN POETZEL

PETER B. POND

MICHELE RICHARDSON

JOH

Board chair Northwestern University Settlement Association

Board member Marillac St. Vincent Family Services

Board co-chair Legal Aid Chicago

Board chair Brain Research Foundation

Board chair-elect Advocate Aurora Health

Boar Chica

With 20 years of board service, Ken O’Keefe is a member of the executive committee and immediate past chair of the nonprofit fighting poverty and violence.

O’Keefe also is founder of BPOC, a private-equity investment firm focused on health care.

During the pandemic, O’Keefe was instrumental in evaluating program changes.

The computer lab was repurposed to accommodate remote learning for kids whose parents weren’t able to stay home with them. That way, the students were supervised and fed. When Marillac’s financial position came under pressure and layoffs were considered, O’Keefe presented a plan that allowed the use of reserve funds to maintain services and pay employees. He opened his home over the years to invite hundreds of friends and colleagues to learn about Marillac, expanding visibility and fundraising.

As co-chair, Megan Poetzel has influence across activities at Legal Aid Chicago, which provides Cook County residents with legal representation and access to justice. Poetzel also is co-chair of the complex commercial litigation practice at Jenner & Block. During the pandemic, Legal Aid Chicago provided more clinics, events and updates on the changing landscape of health benefits, housing, debt collection, food access and employment. Poetzel involves Jenner lawyers in pro bono projects. In May, Jenner volunteers assisted clients as part of the Criminal Records Relief project, determining their eligibility for relief.

The same month, Poetzel hosted a webinar on how to aid those returning from prison find employment and safe and healthy housing and secure other rights.

She’s worked with colleagues to promote board diversity.

Peter B. Pond led the first virtual fundraiser for the Brain Research Foundation, which funds pioneering neurological research.

The fundraiser surpassed its goal, enabling the foundation to award six additional grants, the most in its 68-year history. Pond is a former Chicago investment banker and chair of Maximus, a provider of government services in Reston, Va. Pond has placed a priority on fundraising and marketing.

As part of its strategic plan, the foundation hired a marketing firm to take a comprehensive view of the foundation’s brand and its local and national reach.

Social media and email campaigns ushered the foundation into a more modern approach to marketing, awareness and fundraising. Additionally, Pond has supported the Young Leadership Board, which is raising the foundation’s profile among young professionals.

Michele Richardson was instrumental in Advocate Health Care’s 2018 merger with Aurora Health Care. Since the merger, she’s chaired the board’s strategic planning work group and helped lead the system through the pandemic.

A former dean of students at the University of Chicago Law School, Richardson in 2011 founded consultancy Higher Education Advocates.

She also co-sponsors the Black Directors Health Equity Agenda, a group from top health care organizations working to eliminate health disparities. She’s served on the board of Advocate Health Care since 2004 and continued with the merged organization in 2018. As head of the strategic planning work group, Richardson aims to expand the system beyond traditional care to embrace personalized, omnichannel health care and whole-person health, which addresses food security and nutrition, stress and sleep.

At Ch led d strat the fi

As Northwestern Settlement board chair, Amy O’Donnell oversaw adaptations necessitated by the pandemic.

The nonprofit founded in 1891 by Northwestern professors seeks to support young people in poverty. It transitioned to e-learning for more than 1,000 at-risk students at its Rowe Elementary charter school in Chicago. It also ramped up capacity to serve quadruple the number of families in its food pantry (more than 800 per week) and initiated telehealth for clients of its mental health clinic. O’Donnell led the search for a new CEO to replace Ron Manderschied after more than 40 years in the position. Northwestern Settlement in July tapped Carole Wood as CEO; she is the first Black woman in the position. O’Donnell also has led a variety of fundraising efforts.

PRESENTS

Our Heartfelt Congratulations to Jazmin Cheefus Kelly, Esq. We are celebrating South Shore Drill Team Board President Jazmin Cheefus Kelly, Esq. who was selected by Crain’s as a 2021 Notable Nonprofit Board Leader.

Her commitment to our amazing young people is evident in everything she does, and she is an exemplary role model for the next generation of leaders.

Thank you, Jazmin!

Thursday, Oct. 21 | 9-10 a.m.

FORECASTS

CHALLENGES

OPPORTUNITIES In partnership with Bank of America, Crain’s Chicago Business will host a Middle Market webcast featuring a panel discussion with CEOs from a range of industries. Our expert panelists will discuss the current challenges and opportunities in the middle market space and a provide a forecast of what’s ahead in Q4 and 2022.

Register at ChicagoBusiness.com/MiddleMarketBOA PRODUCED BY

Igniting Performance & Promise Since 1980! www.SouthShoreDrillTeam.org

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 27

JOHN ROBAK

NATALIE ROMANO

DORIS SALOMÓN

LARRY SEROTA

SMITA SHAH

Board chair Chicago United

Board president Shore Community Services

Steering committee co-chair Nuestro Futuro

Board member Chicago Children’s Museum

Board member Museum of Science & Industry

At Chicago United, John Robak led development of a three-year strategic plan to guide growth, the first formalized plan in 15 years. The nonprofit seeks to expand economic opportunity for people of color in corporate leadership and in growing minority businesses. Robak also is CEO of engineering firm Greeley & Hansen. Robak led Chicago United through a leadership transition in 2020 when he chaired the search for a new CEO, resulting in the hiring of Tiffany Hamel Johnson of World Business Chicago. He has served as the pre-

Since 2004, Natalie Romano has served on the board of the Skokie nonprofit that supports children and adults with intellectual and other developmental disabilities. She’s been president since 2012. Romano also is associate portfolio manager at Romano Brothers & Co. Wealth Management in Evanston. At Shore Community Services, Romano has assisted with rebranding, creating a new website and launching social media platforms. Romano has presented to civic organizations and businesses and has worked closely with public officials to discuss client needs. She’s drawn on her investment experience to help plan for Shore’s future with endowment savings. And she looks at ways to run the agency more efficiently through upgrades in software and technology. Romano chaired the organization’s Spring Benefit Committee for years as well as a $5 million capital campaign to purchase and renovate a new facility.

Under Doris Salomón’s leadership, Nuestro Futuro spearheaded grantmaking to support the Latinx community during the pandemic.

An initiative of the Chicago Community Trust, Nuestro Futuro (“Our Future”) is considered the nation’s largest affinity fund dedicated to Latinx philanthropy, with a $6.6 million endowment.

Salomón also is director of programs at Chicago United. Since its start in 2003, the fund has awarded $3.1 million in grants to 70 area nonprofits. With the Latinx community disproportionately bearing the brunt of the pandemic’s health and economic toll and Latinx-led nonprofits struggling with operational and funding issues, Nuestro Futuro stepped up. The organization provided $422,500 in general operating support grants to 23 organizations. Salomón helped form a partnership with the Hispanic Federation to secure a $100,000 match for pandemic grant-making.

Larry Serota played a key role in preparing for the museum’s July reopening by helping lead experts, such as engineers and cleaning staff, to devise strategies for safe re-entry.

Serota is executive managing director at Transwestern, specializing in tenant representation, and a Transwestern board member. The museum closed in March 2020 and used online platforms to curate athome educational activities for children. Serota helped create an innovative gala strategy, inviting donors, volunteers and community members to play at the museum and understand why it is so impactful for children. In 2009, he established the museum’s Metropolitan Board for young professionals who don’t have the funds to donate but want to volunteer their time. Through this, he co-founded a program of volunteers who bring museum resources to underserved neighborhoods.

Serving on the search committee, Smita Shah played an integral role in recruiting the museum’s new president and CEO, Chevy Humphrey. For Shah, it was essential to find a candidate who represented the diverse membership of the museum, and Humphrey is the first woman and Black person to lead the museum. Shah is president and CEO of engineering and construction management firm SPAAN Tech.

Serving on the building and grounds committee, Shah uses her infrastructure expertise to lead projects that update the museum’s 100-year-old building, ensuring that it’s functioning safely, sustainably and cost-efficiently. She also chaired the Environmental Advisory Committee, which explored how the museum could bring in thought leaders from across the country to discuss climate change and how to best educate Chicagoans on the issue.

senting sponsor of Chicago United’s signature fundraiser for four consecutive years. He’s recruited new sponsors and increased donations that have resulted in new partners, members, board members and funding. In the past three years, Robak secured more than $500,000 for Chicago United programs.

The American Cancer Society Congratulates

Robert Soles on being named a 2021 Crain's Notable Nonprofit Board Leader

We thank American Cancer Society Illinois Area Board Chair, Robert Soles, for his dedication to saving lives, celebrating lives, and leading the fight for a world without cancer.

Robert Soles Partner, KPMG LLP Learn more at cancer.org

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28 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

THOMAS SHARP

TRISTAN SLEMMONS

ROBERT SOLES

CARDELLE SPANGLER

RICK THIERNAU

WA

Board treasurer Midwest Young Artists Conservatory

Board member My Block My Hood My City

Board chair American Cancer Society Illinois

Board member New Star

Lead Natio

At the nonprofit known as M3, Tristan Slemmons serves on the development committee and helped raise more than $200,000 during the past two years. Slemmons is corporate citizenship lead at Deloitte and earlier was community relations manager at Bank of America. M3 supports youth in disinvested neighborhoods through educational programs and field trips.

Volunteers support communities by cleaning alleys, mowing lawns and shoveling snow for seniors.

Slemmons helped raise $140,000 at Deloitte through an incentive in which the company matched employee contributions. She

As board chair, Robert Soles heads the Illinois activities of the American Cancer Society; he is a partner at KPMG and West Region tech assurance leader, audit. A major accomplishment: The organization’s Chicago Discovery Ball went virtual for the first time and raised more than $2 million.

Soles led the way for a $100,000 board mission paddle-raise matching gift ask on top of already committed revenue. He’s also helped recruit six new executive leaders who joined the Illinois board in the past 18 months. Before being elected chair

Board co-chair Academy for Urban School Leadership

As im topic work Natio

also served on a committee that granted funds raised by M3 to small businesses hurt by the pandemic. She’s a founding member and co-chair of Youth Guidance’s Working on Womanhood Advisory Council, a group committed to helping young women in Chicago schools.

in 2020, Soles supported signature fundraising efforts such as the Real Men Wear Pink campaign to fight breast cancer. He has strived to improve board operations, creating scorecards with analytics that enable the nonprofit to adapt.

During the pandemic, Rick Thiernau served as a steady and consistent voice for the board and donors, helping guide the organization through the initial financial uncertainty when day services were closed.

The nonprofit serves 650 children and adults in the Chicago area and northwest Indiana who are affected by disabilities. Thiernau is president of Thiernau Financial Services in Dyer, Ind., and has more than 38 years of experience in financial planning. The former board president was instrumental in establishing a financial oversight committee to ensure viability through endowment planning, financial oversight policies and reporting procedures. He vets and interviews candidates for the board. He also instituted a mentor program that assigns a seasoned board member to help guide a new member through the first six months.

As board president between 2004 and 2015, Thomas Sharp was a leader in the purchase of the land contiguous to the MYAC Center in Highwood and is a strong advocate for the proposed MYAC-Lake County Arts Center on that site. He chairs the task force dedicated to its development. Sharp also is a senior vice president at Morgan Stanley. With his experience in finance, Sharp leads the finance, audit and investment policy committees. He works with outside auditors and provides oversight for federal and Illinois annual reports. He’s been involved in the annual gala and fundraising endeavors and is a major donor. Even before joining the board, Sharp advocated for the conservatory, inviting MYAC families to his home and encouraging them to contribute to the endowment campaign.

Cardelle Spangler began serving as co-chair this year and is guiding the nonprofit’s strategic direction and relationship with Chicago Public Schools, its primary partner. The academy works to improve outcomes for underserved students on the South and West sides by recruiting and training promising individuals to be effective teachers through its Chicago Teacher Residency program. During the pandemic, the academy shifted to a virtual model. Spangler is a labor and employment partner at Winston & Strawn and helps academy

managers on employment policy.

She helped develop a communications plan highlighting the academy’s accomplishments.

Spangler has been instrumental in supporting the organization’s philanthropic goals.

IN-PERSON EVENT

GENERAL COUNSEL

BREAKFAST

Thursday, October 21 | 7:30-9:30 a.m.

The Chicago Club

Navigating Antitrust and M&A in the Biden Era The new administration has already sent several strong signals that there’s a new sheriff in town. Corporate America is on notice that antitrust scrutiny will be tougher than before, as will regulatory oversight of several key industries. So, how does a smart general counsel advise her executive team now against this shifting landscape? What sorts of mergers are possible now? What are the warning signs of trouble?

SPEAKERS Adrienne Pitts General Counsel Loop Capital

William Rogerson Professor of Economics Northwestern University

MODERATOR John Schetz General Counsel Cresco Labs

Elyssa Cherney Reporter Crain’s Chicago Business

Register today at ChicagoBusiness.com/GeneralCounsel2021

Presenting Sponsor

$75 per person | This event is exclusive to in-house and general counsel | CLE credit pending

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 29

WADE THOMSON

JOSEPH TORRES

SCOTT VERSCHOOR

PETER VILIM

DAVID WEEKS

Leadership Board member National Immigrant Justice Center

Former board president Illinois Equal Justice Foundation

Board chair Music Institute of Chicago

Board member All Chicago

Board president Naperville Elderly Homes

As immigration became a hot topic nationally, Wade Thomson worked to raise the profile of the National Immigrant Justice Center, part of the Heartland Alliance. Thomson is a partner at Jenner & Block, working from the Chicago and London offices. He’s recruited corporations to the issue as sponsors and coordinated with in-house attorneys at Chase, General Motors, Exelon, McDonald’s and other businesses to team with him and the center on asylum cases. With these relationships, Thomson has helped increase the number of indigent clients at the center receiving critical legal assistance. He has worked on more than 50 asylum cases at Jenner & Block, primarily through the center. Thomson has often joined the host committee for the center’s annual fundraiser and has brought in tens of thousands of dollars in sponsorships.

As the longest-serving board member, Joseph Torres helped address the acute need for legal services and support Illinois’ front-line legal aid organizations. The foundation distributes state funding to nonprofit legal aid programs.

Torres joined the board in 2006 and held a number of positions, including grant chair, nominating chair, vice president and president. Torres is a partner at Jenner & Block and chair of the ERISA litigation practice.

Working with other members of the board and the organization’s staff, Torres ensured that fundraising was robust. When other social service programs were forced to close during the 2015 state budget crisis, the foundation was able to help legal aid organizations assist more than 54,000 vulnerable families, seniors and veterans. It subsequently won settlement award funds from the attorney general.

Throughout the pandemic, board Chair Scott Verschoor was key to operational and fundraising success. Evanston-based Music Institute of Chicago converted almost 90% of its students to online learning within 10 days and exceeded fundraising expectations.

Verschoor also is national market line of business sales leader at KPMG. As an adult piano student at the school, Verschoor has offered insights that guided the institute to create policies that removed barriers for older adults to participate in programs. He has drawn on his

Since 2011, Peter Vilim has served on the board of All Chicago, a nonprofit that strives to end homelessness. He was chair between 2015 and 2019. He’s also co-founder and vice chairman of real estate investment and property management company Waterton. In 2020, All Chicago served 5,296 households with $7.6 million in grants. Vilim led the search committee that recruited Carolyn Ross as president and CEO in 2019. He revamped and diversified All Chicago’s board to include representation of all components of housing, including development

expertise to help the organization make data-driven decisions. In one case, he facilitated a compensation survey of 12 peer nonprofit music education organizations in the area, yielding valuable information. He twice co-chaired the annual gala and influences others to donate.

and banking. Vilim served on All Chicago’s development committee, which increased its nongovernment funding from $1.1 million in 2016 to $6.6 million in 2020.

Vilim introduced conventional housing businesses to All Chicago through his role as presenting sponsor of the group’s fundraiser.

As board president, David Weeks led a $24 million building and renovation project during the pandemic. He put his business, Weeks Financial Group, on hold. Weeks instituted weekly COVID testing until vaccines became available, then secured on-site vaccine clinics until 75% of residents were vaccinated. Weeks secured the funding for the renovation and new building construction in the form of low-income tax credits and other grants from the Illinois Housing Development Authority, DuPage Housing Authority and other project partners. Prior to completion of the Martin Avenue Apartments project, there was a six-year waiting list of low-income seniors who desperately needed support. Now there are 190 new and modern apartments serving almost 200 residents.

Weeks has mentored incoming board members and recently assisted in recruiting five new directors.

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30 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

PEOPLE ON THE MOVE

Advertising Section To place your listing, visit www.chicagobusiness.com/peoplemoves or, for more information, contact Debora Stein at 917.226.5470 / dstein@crain.com

BANKING

EDUCATION

INSURANCE BROKERAGE

LAW

TECHNOLOGY

Fifth Third Bank, Chicago

Loyola University, Chicago

Taft Law, Chicago

HealthChampion, Chicago

Fifth Third Bank is pleased to announce the addition of Chip Flannagan, Senior Vice President and Managing Director for Fifth Third Private Bank.

Chip brings over 35 years of wealth management experience to the bank, working closely with highnet-worth and ultra-high-net worth families, Fortune 500 executives, and owners of middle-market business companies. Chip was previously the Regional Managing Director for Wells Fargo Private Bank in Chicago.

Loyola University Chicago has named Dominique Jordan Turner as Vice President of Institutional Diversity, Equity, and Inclusion.

Ms. Jordan Turner has spent her career helping marginalized communities achieve their fullest potential, most recently at her consultancy Dare To Be the First and previously as Chicago Scholars’ President and CEO. A first-generation college graduate, Ms. Jordan Turner received a bachelor’s degree from Clark Atlanta University and her master’s from Marquette University.

Marsh McLennan Agency Midwest Region, Schaumburg

Taft Law welcomes discovery counsel Regina Brooks in the eDiscovery and Litigation groups. Regina manages the Taft Discovery group and supports the firm’s attorneys in eDiscovery and case management. She is responsible for the oversight of all levels of the discovery process and routinely advises clients on defensible strategies to mitigate risks and costs.

She has 11 years of substantive knowledge and practical experience with a deep understanding of the technical aspects of eDiscovery.

HealthChampion, a digital health analytics company and creator of the world’s first consumerdriven health platform, has named Sid Bala as President. In his new role, Bala will scale and integrate sales, marketing, customer success, product and engineering. He continues to serve on the Board of Directors. Bala previously served as Founder and CEO of alligatortek, and currently serves on the Board of Directors for The Economic Club of Chicago, Silver Cross Hospital and Chicago Innovation.

BANKING

FINANCIAL CONSULTING

Fifth Third Bank, Chicago

Riveron, Chicago

Fifth Third Bank is pleased to announce the addition of Allan De Guzman, Senior Vice President, Commercial Banking.

Allan brings more than 26 years of commercial banking experience to the bank, providing middle market companies financing and treasury management solutions. Allan was previously an executive director at JPMorgan Chase, where he worked to help companies obtain financing for working capital and capex growth, mergers and acquisitions and recapitalizations.

Riveron, a national business advisory firm specializing in accounting, finance, technology, and operations, has appointed Raheel Patel as Managing Director within their Finance Advisory Practice.

He was previously a Director at DLC where he was responsible for business development and leading client engagements. He has over 15 years of finance, accounting and transformation/project experience working with Fortune 500 companies within pharmaceuticals, CPG, retail and financial services.

Marsh McLennan Agency (MMA) Midwest Region is pleased to announce Karen Heeley, Sr VP Controller, has been promoted to Chief Financial Officer. Karen will oversee the financial and risk management operations, direct all financial activities of the corporation including forecasting future business growth and general economic outlook.

Prior to joining MMA Midwest Region, Heeley served in various financial roles at JW Terrill, rising in the ranks to Vice President, Chief Financial Officer.

PROFESSIONAL SERVICES Hitchcock Design Group, Naperville LAW Croke Fairchild Morgan & Beres LLC, Chicago Croke Fairchild Morgan & Beres is pleased to welcome Shay Wilkerson as an associate in its transactional practice.

Over the past year, Shay saw first-hand the opportunities for growth, development, and challenging work at Croke Fairchild, serving as both a summer associate and law clerk. She earned her J.D. at Northwestern University where she was an editor for the Journal of Law & Social Policy. Shay is not yet admitted in Illinois and is practicing under the supervision of firm principals.

BANKING Fifth Third Bank, Chicago Fifth Third Bank is pleased to announce the appointment of Robert McGhee, Senior Vice President, Community and Economic Development.

In his role, Rob leads the bank’s Community and Economic Development program and oversees the bank’s regional compliance with the Community Reinvestment Act. Additionally, he cultivates and leads community partnerships and executes community development and social responsibility strategies. Rob brings nearly 30 years of community development experience to the bank.

BANKING Fifth Third Bank, Chicago

Vios Fertility Institute, Chicago Dr. Kari von Goeben and Dr. Jared Robins have joined Vios Fertility Institute’s dedicated team of Reproductive Endocrinology and Infertility specialists. von Goeben von Goeben’s clinical interest include PCOS, fertility preservation, and the impact of lifestyle factors on fertility.

Robins has a depth of expertise and experience in all areas of reproductive health and has spent considerable Robins time in clinical research for new innovations in the field. One of the fastest growing fertility clinics in the U.S., Vios Fertility Institute provides patients with innovative, cutting-edge fertility treatment options and has 12 locations in the Chicago, Milwaukee, St. Louis, and Portland regions of the United States.

LAW Pedersen & Houpt, Chicago Anthony D. Pesce has joined Pedersen & Houpt as a Partner in the firm’s Litigation & Dispute Resolution Practice Group. He focuses his practice on complex commercial & intellectual property litigation. As an experienced trial attorney, he represented major corporate clients in disputes in the gaming, advertising, health, telecommunications, pharmaceutical & consumer technologies industries.

He has represented companies in high stakes patent disputes & nonpracticing entities.

CHICAGOBUSINESS.COM I DECEMBER 7, 2020 I

THE TAKEAWAY

Suzanne Yoon

What makes you tick?

I come from an immigrant family and was raised by a single mother after my father passed away in an armed robbery when I was 10. I’ve never taken a single thing for granted in my life.

What’s your call on working remotely in the COVID-19 era?

We started to go back into the (downtown) office in October—we took a vote, and it was unanimous everyone wanted to be back in.

When you have an afternoon to yourself, how do you spend it?

Sometimes I clean. I like to keep my life simple—I like to simplify; I’m a purger. For relaxation, I’m into mediation, yoga and working out.

>

What’s your favorite sport?

Today, it would be golf. Previously, I would do anything that had me running around. I just enjoy games generally.

>

As a spectator?

It’s a tie between pro football and my boys’ baseball games. I’m an unfortunate lifelong Bears fan.

> You also fish?

I fish a lot because becau causee my my husb husba hu band is a die-hard die-hard hard d fisherman. fis fisherma fi herm herman an. So it’s partly just going going along for husband the he ride, ride r de but b t I do d enjoy eenjo n it. it.

Beth Kennedy is joining The Motion Agency as the Executive Vice President of Strategy.

For 20+ years, Beth has served in marketing, advertising and Kennedy omnichannel roles at agencies including DDB and FCB. As a highly experienced strategy executive, Beth has a proven track record of supporting business growth across many categories, including CPG, retail, personal Kowal care and healthcare.

Matthew Kowal will also be joining the strategy team as the Vice President of Strategy and Planning for Motion. Matthew is an agency vet with over 13 years of experience having worked on global CPG clients like SCJohnson and Unilever. He has spent time at TracyLocke, Havas, Ogilvy and Digitas and has a passion for CPG, retail, digital and tech categories.

For more information, contact Debora Stein at dstein@crain.com or submit directly to

CHICAGOBUSINESS.COM/ COMPANYMOVES

PROMOTE.

What’s your best catch catch? atch? h?

My largest fish was a 60-pound 60-po ound sail sail-fish caught in the Florida Keys, KKeeys, eys, aand the he hardest catch was a 660-pound 6000-pound tuna from the he Gulf side of Mexico.

Mexico. xico.

>

Why not?

What’s What’ W hatt’’s one ha one of your y favorite things abou aboutt K ore o rea ean an culture culture? ltu Korean I still illl love love ve Korean oreean food. The focus on education orean du ation a o and aand ffamily amilyy values. valu va lues lu ues es. s My M mother h was definitely de d fi i l a ““Tiger Tiger M om m.” TThere here was a lot of discipline in the house.

Mom.”

> What did your mother otherr d do o for fo a living? would shifts director She was a nurse who ho wou woul ld sometimes ometim work work two tw wo shif fts ts a day. Today, she’s direct or off homee business. nursing for a nursing g hom business.

>

Reprinted with permission from Crain’s Chicago Business. ness. © 2021 Crain Communications on ns Inc. ns IInc nc. n All A All rights ghts hts reserved. reser res reserved erv rv www.chicagobusiness.com/ m/ m/sec m /sect c on/reprints. ction/reprints. n/reprints. reprints. eprints. s. #CB21042 #CB2 #CB21 #CB210 B210 B 2 42 42 Further duplication without permission is prohibited. Visit www.chicagobusiness.com/section/reprints.

Feature your latest milestones, launches, partnerships, awards and more in Crain’s

>

Reprinted with permission from Crain’s Chicago Business. © 2021 Crain Communications Inc. All rights reserved.

Further duplication without permission is prohibited. Visit www.chicagobusiness.com/section/reprints. #CB21042

>

>

#25 Overall #18 Small Businesses #25 Overall #18 Small Businesses #25 Overall #18 Smallll Businesse Businesses es

You’re one of the few women leading a private-equity firm anywhere in the U.S. Is that a lonely role?

I don’t think it is, because I have such a good network of other women. It’s not like it was five years ago, or 10 years ago.

>

remotely in tough times: cash for office equipment and child care, additional PTO to deal More than a year into pandemic, mostt officewith workers are still d do doing o oing ing ngg theirr thing th t g ffro from rom om with COVID challenges.

Once again thisthe year, Crain’s partnered Best are Companies lunches, tablea tennis aand n nd d happy happy ppy py hou hours mo m moot home, making perks Group to survey employees and office identify the like 100 catered Best Places to Work, list that gets p with ways to suppor rt the rt ttheir heeir troops h t ops p wo w orrk orkin orking o rrkin kkiiin ngg n But the best companies came up support working more competitivepoints. each year. uipment and child care,, additional addi dit d iti tionall PT tional PTO TO to TO to dea d al remotely in tough times: cash for office equipment deal dw itth B Best Comp Co om mpanies p with COVID challenges. Once again this year, Crain’s partnered with Companies o Wor W Wo ork, a list tthat h hat att ggets Group to survey employees and identifyy the 100 Best Places to Work, more competitive each year.

Reprinted with permission from Crain’s Chicago Business. © 2021 Crain Communications Inc. All rights reserved.

Further duplication without permission is prohibited. Visit www.chicagobusiness.com/section/reprints. #CB21042

P030_CCB_20211011_v3.indd 1

The Motion Agency, Chicago

Yoon, 45, is founder and managing partner of Chicago private-equity firm Kinzie Capital Partners, which invests in lower midmarket consumer, manufacturing and services companies. Her parents brought her to the U.S. from South Korea when she was a baby. She was raised in the Chicago area. Today, she lives in Ukrainian Village with her husband and three sons.

More than a year into the pandemic, most office workers are still doing their thing from home, making office perks like catered lunches, table tennis and happy hours moot points. But the best companies came up with ways to support their troops working remotely in tough times: cash for office equipment and child care, additional PTO to deal with COVID challenges.

Once again this Crain’s most partnered Bestare Companies More than a year into theyear, pandemic, officewith workers still doing their thing from Group to survey home, employees andoffice identify thelike 100catered Best Places to Work, list that gets making perks lunches, table atennis and happy hours moot more competitivepoints. each year.

But the best companies came up with ways to support their troops working

SHARE YOUR C O M PA N Y ’ S JOURNEY

STRATEGIC ADVISORY

>

Fifth Third Bank is pleased to announce the addition of Mary Kate Napleton, Officer, Associate Wealth Manager. Prior to joining Fifth Third Private Bank, Mary Kate began her career at CIBC Private Wealth Management as an underwriter in their Private Banking Department where she evaluated the financial position of high net worth clients.

Mary Kate attended the University of Illinois Urbana-Champaign and is currently pursuing her Certified Financial Planner® designation at Northwestern University.

HEALTH CARE

Deidre Ewers was hired as Marketing Coordinator and has been with HDG for nearly 4 years. For 3 of those years, she has held down the marketing fort for HDG, sometimes with help but often operating very independently, and has grown into the Marketing Manager role that she serves in today. As a key member of our small Corporate Team, Dee’s role has also grown into meaningful human resources and administrative functions for the firm. Her skill and ambition earned her this promotion to Associate II.

women equity?

Is there a future forr wo omen in private priv eq quiity? t I see more women in private privvaaatte equity eq than ther re have have been, beeen, be n,, soo I think thin th tthi hink inkk it t’ss g get ge there it’s gethave modest. ting better. The inroads oads h ave been b modest.

Reprinted R eprinted with permission permission n from f om Crain’s Chica fro Chicago aggoo Business. ago Busines Busi Busines Bu Business i s. © 2 in 2021 021 021 Crain rain n Communications Communicatio ommunicatio Inc. All rights rrig res rese reser reserved. errv rvve eed d.

Fu urther duplicatio on w itho out pe permission p e is prohibited hib bi d. V Visitt www.

Visit www.chicago www.chicagobusiness.com/section/reprints. www.chicagobusiness.com/section/r www.chicagobusiness.com/sect www.chicagobusiness.com/section/reprints .chi hicagobusiness.com/section/rep agob obusiness.com/section/reprints. b sines ine com/section/reprint m/section/reprints. / tio ti /re i t #C ##CB21015 B2 B21015 210 10 015 15 5 Further duplication without prohibited.

For more information contact: Lauren Melesio • Director, Reprints & Licensing lmelesio@crain.com • (212) 210-0707

10/6/21 3:41 PM

CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 31

BEST NEW

ADALINA

PRIVATE

DINING ROOMS PLANNING TO HOLD A COMPANY MEETING, PARTY OR DINNER? HERE ARE 21 ROOMS IN DOWNTOWN RESTAURANTS THAT COULD BE EXACTLY WHAT YOU’RE LOOKING FOR.

BY ARI BENDERSKY Gathering together these days may look a bit different, but having a private space in which to do it may be a good solution. Whether you need an intimate space to celebrate a just-closed deal or seek a larger room for a grand affair, we’ve spotlighted 21 private rooms in restaurants—mostly newcomers to Chicago’s dining scene, but also some notable spots we haven’t featured in the past. We focused on centrally located places in the Loop, South Loop, River North, Gold Coast and Fulton-Randolph district. Note that food and beverage minimums don’t include tax or tip. Prices and menu items should be considered representative and are subject to change.

ADALINA

APOLONIA

912 N. State St. | 312-820-9000 AdalinaChicago.com

2201 S. Michigan Ave. | 312-3632431 | ApoloniaChicago.com

Three private rooms seat up to 22, 30, 40 and 50, depending on the space.

Private room seats up to 20.

Cost: $1,000 to $5,000 minimum, depending on the space and time of the event.

ALLA VITA 564 W. Randolph St. | 312-667-0104 AllaVitaChicago.com Private room seats up to 24.

Decor: Set at the back of the restaurant next to the open kitchen with large windows peeking into the main dining room, the intimate space boasts a dramatic wall comprising dozens of Italian leather belts set above a deep-blue banquette with rustic wood tables and plush yellow and blue chairs.

Cost: $100 room reservation fee and $2,000 minimum on weekdays; $2,300 Friday and Saturday.

AVEC RIVER NORTH 141 W. Erie St. | 312-736-1778 | AvecRestaurant.com Private room holds 58 seats and 100 for standing receptions. Open-air rooftop Bar Avec is also available for up to 100 guests.

Decor: Light and airy with a Mediterranean feel, the open and bright space features tufted cobalt blue banquettes and lots of live greenery set along blond-wood tables and large windows looking into the main restaurant and out to River North.

Cuisine: Italian. A family-style Italian menu by Michelin-starred chef Lee Wolen with selections chosen from antipasti like fritto misto, salads like a kale Caesar, homemade pasta like pillowy cacio e pepe ricotta dumplings and wood-fired pizzas and whole sea bream or roasted New York strip.

Cuisine: Mediterranean. A rotating seasonal menu from chef Perry Hendrix features Mediterranean-inspired, family-style plates with farm-sourced Midwestern ingredients. Expect Avec favorites like chorizo-stuffed medjool dates, salt-cod brandade and slow-roasted pork shoulder alongside handmade pastas, sea scallop crudo and wood-fired meats and seafood.

Cost: $1,500 to $3,000 minimum, depending on menu selections with beverage pairings.

Cost: Custom packages available, contact events@oneoffhospitality. com for more information.

P031-P035_CCB_20211011.indd 31

ALLA VITA

Cuisine: Chef Stephen Gillanders offers two family-style menus showcasing seasonal ingredients highlighting Mediterranean and European flavors.

Menu examples include spicy bucatini pomodoro; grilled branzino with marinated olives and dill; and large-format salmon and pork shoulder.

ANTHONY TAHLIER

Cuisine: Italian. Chef Soo Ahn, who helmed the now-closed Michelin-starred Band of Bohemia, brings twists on classic Italian fare like sharable cacio e pepe arancini and gnocco fritto with 24-month-aged prosciutto; mussels au gratin with ’nduja; handmade pasta like lumache with Maine lobster and king crab; filet tagliata drizzled with eight-year-aged balsamic—and wine selected from a 3,000-bottle, floor-to-ceiling cellar.

Decor: Mediterranean meets Europe.

Casual, modern and minimalist, the cozy room with textured cream walls and long wooden tables with lowslung padded wooden chairs is set off the restaurant through a sliding dark wood door.

APOLONIA

AVEC RIVER NORTH

ONE OFF HOSPITALITY

Decor: Classic and almost Victorian in nature with plush velvets, marble bars, cocktail tables and a custom Italian chandelier comprising 150,000 crystals fit for a sophisticated affair.

10/8/21 3:12 PM

32 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

BEST NEW PRIVATE DINING ROOMS AVLI ON THE PARK

THE DAWSON

180 N. Field Blvd. | 312-600-9997 Avli.us

730 W. Grand Ave. | 312-243-8955 The-Dawson.com

Several spaces on the first floor and rooftop can accommodate 48 to 120 seated.

Three areas on the second floor, including the Foundry and Devil’s Den, seat from 32 to 120 or up to 150 for cocktail receptions.

Decor: With high ceilings and floorto-ceiling windows, an airy seaside feeling pervades Avli, offering the essence of the Greek Islands.

Cuisine: Greek. Whether you choose a reception or a seated affair, expect modern twists on Greek fare, including souvlaki, herbed Greek meatballs, lollipop lamb chops, filo shrimp, Greek salad and roasted eggplant. Beverage packages available, including an array of Greek wines.

Cost: No venue or rental fee. Minimum spend varies.

BEATNIK ON THE RIVER-THE JEWELRY STORE 180 N. Upper Wacker Drive | 312526-3345 | BeatnikOnTheRiver.com Private room seats up to 16 with a cocktail reception up to 20.

Decor: You can book out the riverfront terrace or inside front bar and journey to Morocco or southern Spain, but expand your adventure with the Jewelry Store, an actual 1913 Nashville shop reassembled in the middle of the restaurant bedazzled with dramatic wood-inlay mirrors and shimmering chandeliers.

Cuisine: Mediterranean inspired.

Michelin-starred chef Marcos Campos plays with Mediterranean favorites and takes diners on a culinary adventure with dishes like pistachio tzatziki with cucumber and aleppo pepper; green gazpacho and Atlantic crab; feta-stuffed medjool dates; scallops with jamon Iberico; and Lebanese-style roasted lamb.

BEATNIK ON THE RIVER-THE JEWELRY STORE

Decor: A stunning grand staircase leads to the private and private second-floor spaces with custom tile, handcrafted woodwork and plenty of natural light. Choose the Foundry with its adjacent terrace, the more intimate Devil’s Den with chevron navy denim walls, plush leather couches and fireplace, or both.

Cuisine: Contemporary. Passed apps like mini lobster rolls and short-rib taquitos to chilled seafood stations to coursed seated dinners with herb ricotta tortellini and Ora king salmon with lemon dill beurre blanc.

Cost: The Dawson has food and beverage minimums that vary based upon guest count, time, day, demand and the space.

ETTA RIVER NORTH 700 N. Clark St. | 312-766-4444 EttaRestaurant.com Private room seats up to 30.

Decor: A relaxed, welcoming cafe setting with vintage images, patterned wallpaper and a window looking out on the street level.

Cuisine: Rustic, wood fired. Everything at Etta—from the crispy-crust pizzas to rich focaccia to the family-style grilled meats, seafood and vegetables—revolves around the open-hearth, wood-fired grill from two-time Michelin-starred chef Danny Grant (who is also responsible for Maple & Ash), all done in an approachable, rustic style.

Cost: $2,400 minimum for three hours; $4,000 for entire evening.

THE DAWSON

Cost: $675 minimum.

EVER 850 W. Fulton Market | 312-3741620 | ChikatanaChicago.com Four unique spaces from 10 people seated comfortably on couches in La Esquina to a full buyout for up to 100 people.

Decor: Step off Fulton Market straight into beachside Tulum with plants, light woods, oversized burlap pendant lights and other natural materials that offer an escape within the city.

Cuisine: Mexican. Think elevated nuevo Mexican with dark carnitas tacos, octopus ceviche, squash blossom quesadillas, ensalada de nopales, carne asada and, of course, churros with spiced chocolate sauce.

Cost: $1,000 to $20,000 food and beverage minimum plus space rental fee based on area.

P031-P035_CCB_20211011.indd 32

1340 W. Fulton St. | 312-766-9577 | Ever-Restaurant.com/private-events Private dining room seats 10 to 12; partial dining room seats up to 20.

Cuisine: Contemporary. Evolving multicourse tasting menu from three-Michelin-starred chef Curtis Duffy, focused around seasonal vegetables and fresh seafood (think king crab and caviar) and quality meats (think wagyu) paired with wine from a global list.

Decor: After walking through the lively dining room with curved textured walls meant to evoke the canyons of Moab, Utah, guests enter a cream-colored, minimalist room with ambient lighting and an elegant chandelier over an ovalshaped table where every spot allows for conversation.

CHIKATANA

KATHLEEN ROBINSON

CHIKATANA

ETTA RIVER NORTH

Cost: $2,820 minimum for private room; $7,520 minimum for partial dining room.

10/8/21 3:12 PM

CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 33

THE EXCHANGE

THE EXCHANGE

224 S. Michigan Ave. | 312-265-0591 ThexchangeChicago.com Private room seats 20. Larger spaces seat up to 250.

Decor: Set off the stunning atrium in the classic Daniel Burnham Railway Exchange via floor-to-ceiling paned glass windows, the small private room features shimmery drapes, earth-tone beehive tiles and tables set below a wood-panel ceiling.

Cuisine: Vegetable-centric steakhouse. James Beard-nominated chef Brian Huston prepares locally sourced vegetables, pastas and proteins, organic and biodynamic wines, and house cocktails.

Cost: $1,000 minimum.

AVLI ON THE PARK

ANTHONY TAHLIER

EVER

P031-P035_CCB_20211011.indd 33

10/8/21 3:12 PM

34 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

BEST NEW PRIVATE DINING ROOMS JALEO

ORIOLE

LURE FISHBAR

TARA WHITE

LIRICA

ROSE MARY

JALEO

LIRICA

LURE FISHBAR

ORIOLE

ROSE MARY

SUN

500 N. Clark St. | 312-820-7771 Jaleo.com/private-events

900 E. Grand Ave. | 872-710-5750 LiricaRestaurant.com

616 N. Rush St. | 312-660-6180 LureFishbar.com/location/chicago

661 W. Walnut St. | 312-877-5339 OrioleChicago.com

932 W. Fulton Market | 872-260-3921 RosemaryChicago.com

110 W Sund

A variety of rooms and spaces can seat from 14 to 210, with receptions accommodating 30 to 230.

Private room seats 36 and up to 60 with overflow to the openkitchen-facing chef’s table.

Private room seats up to 30.

Private room seats 20.

Decor: Set in the Sable Hotel at Navy Pier, the private room offers sweeping views of Lake Michigan and the Chicago skyline.

Decor: A modern, spacious classically designed room with exposed brick, a fireplace, Oriental rug, large north-facing windows and original 16-by-10-foot artwork from Richmond, Va., artist Seth Bauserman.

From semi acco

Decor: The bright and whimsical, restaurant, with lush fabrics, murals featuring Madrid cityscapes, colorful furniture and tiles, feels like a celebration of life.

Decor: Two private rooms sit adjacent to each other, open through tall, sliding glass doors, each with warm woods and soft linen drapes. One room features a wet bar with a pass-through window, while the other has a gloss white tambour fireplace.

Private room seats up to 44 for full room or 16 for half.

Cuisine: Spanish tapas. Globally celebrated chef and humanitarian Jose Andres’ first opening in Chicago features his signature tapas like jamon Iberico, tortilla de patatas, pan con tomate, gambas al ajillo and, of course, paella.

Cost: Depending on the space and day of the week, minimums range from $400 to $35,000 for a full buyout.

P031-P035_CCB_20211011.indd 34

Cuisine: Latin- and Spanishinspired. Expect Latin-inspired fare from the Iberian Peninsula and Mexico, like shaved serrano ham and beef empanadas, roasted poblano quesadilla and Spanish fried chicken with morrita chili salsa.

Cost: $1,500 minimum.

Cuisine: Seafood. Get a familystyle or fully plated meal with a variety of seafood and sushi like oysters on the half shell, steamed red snapper, king crab, tuna tacos, miso-glazed salmon and American items like Lure’s bash burger with bacon and onion jam.

Cost: $1,500 minimum.

Cuisine: Contemporary.

Two-Michelin-starred chef Noah Sandoval prepares four- and eight-course tasting menus featuring high-quality ingredients. Or opt for Oriole’s full menu.

Cost: $3,000 minimum Tuesday through Thursday; $4,500 Friday and Saturday.

Decor: A private room off the main dining room features whitewashed brick, honey-colored oak millwork and pale stone surfaces with pops of color from azure tiles and red clay.

Cuisine: Italian meets Croatian.

“Top Chef” winner and former Spiaggia executive chef Joe Flamm pays homage to his heritage with a nod to “Adriatic drinking food” with housemade pastas and risottos, wood-fired meats, seafood and vegetables—and a well-curated, Mediterranean-focused wine list.

Cost: $4,000 minimum for half size; $8,000 minimum for full private room.

10/8/21 3:12 PM

Deco offer wood and t

Cuis from favor stick sush four

Cost

CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 35

VERVE WINE + PROVISIONS

ANTHONY TAHLIER

DIEGO PADILLA

TZUCO

TRIVOLI TAVERN

TZUCO

3921

110 W. Illinois St. | 312-644-0500 SundaNewAsian.com/Chicago

114 N. Green St. | 312-366-2646 TrivoliTavern.com

720 N. State St. | 312-374-8995 Tzuco.com

r full

From two private rooms to other semiprivate areas, the space can accommodate 14 to 100.

Semiprivate room can accommodate up to 40.

Private space holds up to 16.

n.

riinkstas s, da o-

TRIVOLI TAVERN

MIMI LIE

VENTEUX BRASSERIE, CAFE & OYSTER BAR

SUNDA

hiteoak ces tiles

SUNDA

Decor: The lofted party room offers exposed brick walls, hardwood floors, cedar plank ceilings and traditional Asian decor.

Cuisine: New Asian. Choose from multiple dishes—pan-Asian favorites like steamed buns, pot stickers, spicy chicken wings and sushi nigiri and rolls—served over four courses.

Cost: $1,500 minimum.

f

Decor: Imagine an old-time supper club decorated with tufted leather booths, red-and-white checkered tablecloths, exposed brick and vintage lamps and art.

Cuisine: Coal-fired tavern fare.

From shrimp cocktail and a classic wedge salad to spaghetti Bolognese, fish and chips and chicken pot pie to whole branzino, big steaks, chops and prime rib—and, of course, classic cocktails.

Cost: Food and beverage minimums vary, depending on the day and time of the event.

Decor: Until chef Carlos Gaytán opens his Tales of Carlos Gaytán restaurant-within-a-restaurant, book this intimate space with a private kitchen surrounded by wood and Mexican art and artifacts.

Cuisine: Upscale Mexican.

Menus are inspired by seasonal produce and the availability of either hyperlocal or imported ingredients for dishes like venison tartar with huitlacoche, escamoles and epazote with blue corn tortillas, and sea scallops, prawns, sea urchin clarified ceviche.

Cost: Prices start at $200 per person, exclusive of beverage, tax and gratuity.

VENTEUX BRASSERIE, CAFE & OYSTER BAR

VERVE WINE + PROVISIONS

224 N. Michigan Ave. | 312-777-9003 VenteuxChicago.com

2349 N. Lincoln Ave. | 773-904-8536 Chi.VerveWine.com

Two private dining rooms seat up to 8 and 15, respectively.

Private room can accommodate six to 10.

Decor: Both red-hued rooms, set behind the main dining room’s bar, are accessed through industrial sliding doors and feature French-inspired art on gallery walls, saucer-shaped milk glass chandeliers set above either a crimson velvet banquette or wood-topped central table with bistro chairs.

Decor: An intimate glass-doorenclosed wine cellar with floorto-ceiling shelves stacked with globally sourced bottles or a slightly larger private room with a long wood table, shock-red painted ceiling, painted wood-slat walls and a glass-enclosed entryway looking out into the dining room.

Cuisine: Modern French. Chef Donald Young, Chicago’s youngest Michelin-star recipient, uses local and seasonal ingredients to create a modern twist on classic French fare: escargot and oysters; brie en croute and French onion soup; ratatouille pasta, steak frites and whole roasted duck.

Cuisine: Wine-driven contemporary. A la carte or tasting menu by chef Ryan Epp with starters like oysters with sancho peppercorn mignonette, jamón Iberico, bavette with alium jus and hasselback potatoes, and eggplant Parmesan.

Cost: Minimum spend ranging from $400-$1,500 for three hours.

P031-P035_CCB_20211011.indd 35

Cost: Offerings start with a threecourse tasting menu per $65 per person. Larger tasting menus and food supplements on request.

10/8/21 3:12 PM

BE WHERE

BUSINESS HAPPENS

BE IN THE BOOK

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95% of readers reference The Book again and again throughout the year – guaranteeing wherever business happens, you’ll be right there too.

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LABOR & EMPLOYMENT LAW

STRATEGIES FOR EMPLOYERS

Earlier this year, legal experts predicted a more worker-friendly era via executive orders and rules set by agencies in the Biden administration.

Three local labor and employment lawyers shared their thoughts with Crain’s Content Studio on developments thus far in 2021 and how employers can start preparing for any shifts in the regulatory landscape while addressing the challenges of the continuing pandemic.

What are some of the most important changes to our state’s employment laws this year?

J. Scott Humphrey: Speaking as a non-compete/trade secret lawyer, the most important change was Public Act 102-0358, which amended the Illinois Freedom to Work Act and altered nearly 200 years of Illinois restrictive covenant law. Prior to the amendment, which is being correctly referred to as the Illinois Restrictive Covenant Act or Statute, Illinois restrictive covenant law was a creature of legal opinions from trial judges, appellate judges and, to a lesser extent, Illinois Supreme Court justices. Now, for restrictive covenant agreements entered into on or after Jan. 1, 2022, there are certain statutory guidelines and requirements relating to, among other things, income thresholds, consideration for the covenants and notice to future employees. It will be important for Illinois companies to understand these new requirements and guidelines because the new statute enables employees to recover their attorneys’ fees if they successfully defeat an employer’s attempt to enforce a restrictive covenant.

Laura B. Friedel: The amendment of the Equal Pay Act put into place new certification and reporting requirements that go way beyond what we’ve seen in Illinois and are really out in front of what we’re seeing in other states. There also are new rules on non-solicitation and

for employment decisions. Employers must now conduct an individualized analysis of the conviction to determine whether the position in question creates an opportunity for the employee to engage in the same or a similar criminal offense, or if the employee poses an unreasonable risk to the property or the safety or welfare of the employer and its employees.

Employers are required to notify the candidate or employee in writing if a conviction record is determined to disqualify the individual from employment or promotion and include notice that the employee may file a charge with the Illinois Department of Human Rights.

Equal pay is getting a lot of attention currently—what are the most important developments for businesses?

Cox: The Equal Pay Act requires that men and women in the same workplace be given equal pay for equal work. On the federal level, the Paycheck Fairness Act was introduced in the U.S. House of Representatives in January 2021. If passed, the legislation would address wage discrimination on the basis of sex by requiring employers to show that any pay disparities are job related. On the state level, recent amendments to the Illinois Equal Pay Act require that, beginning in March 2024, employers with more than 100 employees in Illinois must certify compliance with the Equal Pay Act by obtaining an equal pay registration certificate from the Illinois Department of Labor. Employers

AMBER L. COX

Partner Laner Muchin acox@lanermuchin.com 312-494-5363

requires employers to notify Colorado employees of promotion opportunities, along with relevant compensation information. What’s tricky, however, is that these opportunities are broadly defined and include any position in the company that could be viewed as a step up, regardless of location and employee qualification. Unless the current attempts to overturn some of

LAURA B. FRIEDEL

J. SCOTT HUMPHREY

Partner Levenfeld Pearlstein lfriedel@lplegal.com 312-476-7510

Partner Benesch shumphrey@beneschlaw.com 312-624-6420

the law’s provisions are successful, we may see a push for similar provisions in other states.

What should employers consider before rolling out a mandatory COVID-19 vaccination requirement?

Friedel: We’re waiting to see what the rule OSHA issues in response

to President Biden’s directive actually says and whether it stands up in court. That said, an employer considering rolling out a vaccine mandate now needs to consider how their workforce will react and whether it will lead to labor shortages.

Employers also need to consider how they’ll confirm vaccination status, what time off relating to the vaccine they’ll pay for and how they’ll process

“ . . . CONSIDERATION MUST BE GIVEN TO HOW TO ENCOURAGE EMPLOYEES TO GET VACCINATED IN A WAY THAT ALIGNS WITH THE EMPLOYER’S CULTURE AND VALUES.” — AMBER L. COX, LANER MUCHIN non-compete agreements, whereby employers need to revise their standard agreements before the end of the year so that new agreements entered into in 2022 and beyond meet the very specific requirements of the statute.

While employers still have some time before the Equal Pay Act amendment’s requirements around certification and reporting come into play, the underlying requirements are significant so employers should start thinking about them sooner rather than later.

Amber L. Cox: One significant development was employers’ ability to use conviction records as a basis

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should conduct self-assessments now to address race- and sex-based pay equity within their organizations.

Friedel: Another big development involves Colorado. Since Jan. 1, 2021, companies with even one Coloradobased employee must disclose pay and benefit information in any job posting for a position that could be performed in Colorado. So, if you have any employees in Colorado and post a position that could be done remotely, you either need to include compensation information or clearly indicate that the job can’t be performed in Colorado. The law also

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LABOR & EMPLOYMENT LAW

STRATEGIES FOR EMPLOYERS accommodation requests. And, of course, unionized companies must determine if they need the union’s involvement.

Cox: In this climate where many employers are facing a shortage of workers, consideration must be given to how to encourage employees to get vaccinated in a way that aligns with the employer’s culture and values.

Vaccination hesitancy exists, and will not go away simply because HR tells employees that vaccines are mandatory.

On the other hand, employers cannot create an unsafe environment simply because employees don’t want to get vaccinated. Employers may want to explore options including incentivizing vaccination or implementing regular testing requirements, keeping in mind that employers may be required to pay for the costs of testing and time spent testing. Employers must be mindful of the obligation to make accommodations for employees who are unable to get the vaccine due to documented medical reasons or sincerely held religious beliefs, practices or observances and train personnel to evaluate and respond to such requests.

How should an organization handle an employee who isn’t comfortable coming into the office or traveling because of COVID?

Cox: A good first step is to have a conversation with the employee to determine their specific concerns and requests. If they’re requesting a work from home accommodation, determine if they’re seeking to work from home permanently, temporarily or sporadically. There are jobs that may only be performed at the workplace and accommodations may include changes to the work environment to reduce contact with others, such as designating one-way aisles, using plexiglass, tables or other barriers to ensure minimum distances between customers and coworkers. Employers should explore with the employee any measures to reduce face-to-face contact with others as well as other safety measures like personal protective equipment that can be implemented when coming into the office or when traveling that would reduce the risk of transmission and increase the employee’s comfort level.

Friedel: The fact is, if an employee is just “uncomfortable” and doesn’t qualify for an accommodation based on a medical condition or sincerely held religious belief, employers can require them to come into the office, travel and perform other essential job functions.

Of course, employers don’t want to lose good employees, so a first step should be to discuss other possible alternatives to coming into the office or traveling that would still allow the employee to perform their job functions.

What strategies can companies implement to protect trade secrets in today’s digital age and workforce?

Humphrey: A trade secret audit can identify where a company’s trade secrets currently reside, who currently possesses or has access to them and the measures in place to protect them.

A company should also review its agreements and policies to see if they need to be updated based on any changes it made to the disclosure, use and/or protection of its trade secrets while its employees were working remotely due to COVID-19. It’s also helpful to conduct outside research to learn about protective measures being implemented by competitors or other companies in its industry. After the company reviews the audit results, it can make changes and modifications

employees use company devices such as laptops and phones to conduct business. This allows the company to institute and monitor security protocols. It also helps the company keep information from walking out the door on personal devices when the employee leaves. Employers should also be training employees to spot attempts to infiltrate systems and make reporting potential breaches— including inadvertent clicking on links—part of company culture.

Have courts been handling trade secret cases differently in the COVID-19 era?

Humphrey: We’ve not noticed any material changes other than those that apply to all civil litigation matters.

For example, injunction hearings were conducted over Zoom instead of in person. Some courts are now

Cox: One of the most significant provisions of the bill for employers is that it establishes a statutory framework for investigation and enforcement by the Illinois Attorney General’s office. As we previously saw in Illinois, the Attorney General has an interest in pursuing claims against employers based on employee non-competes when the state believed they may have been used unfairly. The remedies available to the Attorney General also are broad, including monetary damages to the state; restitution and equitable relief, including temporary restraining orders and injunctive relief; and a civil penalty of up to $5,000 for

“A TRADE SECRET AUDIT CAN IDENTIFY WHERE A COMPANY’S TRADE SECRETS CURRENTLY RESIDE, WHO CURRENTLY POSSESSES OR HAS ACCESS TO THEM AND THE MEASURES IN PLACE TO PROTECT THEM.” — J. SCOTT HUMPHREY, BENESCH to its protective measures based on its needs, resources and corporate culture.

Friedel: Wherever possible, employers should require that

starting to hold in-person hearings with social distancing requirements and procedures, and we expect more courts will follow; however, several Illinois courts are still conducting these hearings remotely. Nevertheless, companies should feel comfortable that if they need to seek emergency relief from a court for a trade secret matter such as a temporary restraining order or preliminary injunction, the court system will be able to handle their matter on an expedited basis.

What should companies do to ensure compliance with the state’s restrictive covenant law that takes effect on Jan. 1, 2022? What are the most dangerous/ difficult provisions for a company?

Humphrey: The most dangerous provisions are requiring employers to advise the potential hire, in writing, to consult with an attorney before signing the agreement and allow the potential hire 14 days to consider the agreement; requiring the company to provide “adequate consideration” at the time of signing so that the restrictive covenants are immediately enforceable; and language allowing employees to recover their attorneys’ fees for defeating a restrictive covenant action. Accordingly, companies should, prior to Jan. 1, 2022, make sure that all departments involved in the hiring process are aware of, and will be in compliance with, the law’s notice requirements and determine what consideration can be tied to the restrictive covenants to make the covenants immediately

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enforceable. Otherwise, companies run the risk of not being able to enforce their restrictive covenants and could be subject to an adverse attorneys’ fees ruling.

each violation or $10,000 for repeat violations. The Attorney General’s history in this area shows that these possible penalties are not idle threats.

Friedel: It’s critical that employers be prepared with a compliant document for anyone signing after the first of the year. Beyond that, I think that the two most difficult issues practically will be the requirement that people be given 14 days to review the agreement before signing and the salary minimums. Many of our clients are adamant that employees sign agreements before they start—so if a new hire wants to take the full review period, that could delay start dates.

Turning to the salary minimums, the challenge for employers is going to be deciding whether to issue new agreements when employees cross the compensation thresholds or whether they prefer to include modular language in the agreement indicating certain provisions will only apply if compensation is over the benchmark.

With more employees working remotely, what should organizations be doing to ensure that confidential information stays confidential?

Friedel: I recommend that companies implement—or revisit— their technology and confidentialityrelated policies to require employees to follow data protection standards.

This would include requiring strong passwords, prohibiting the use of public networks, setting standards for home networks, implementing VPN protocols and mandating reporting of breaches. Employers should

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SPONSORED CONTENT also seriously consider requiring employees to use company-provided devices for company business, so that the employer can monitor security and maintain control over information. Employers should also be training employees to spot attempts to infiltrate systems.

Cox: Employers can consider requiring employees to sign confidentiality or non-disclosure agreements and carefully defining confidential information to include information in electronic and hardcopy formats. Businesses should try to make sure that their information is stored on employer-owned devices, especially in a remote work environment. Organizations should also implement measures to build digitally safe workplaces even in remote environments like requiring dual factor authentication, confirming network security, password protection for all devices, limiting access to trade secrets internally, finding private places to have telephone conversations and ensuring that an employee’s computer screen is not being viewed by others. Employers may also want to evaluate whether it’s necessary to encrypt sensitive data on local and cloud services and in employees’ emails and on their devices. Also, businesses need to stay abreast of possible data security risks created by electronic devices in the home.

Humphrey: It’s important to monitor mobile devices to ensure that confidential information is not being improperly downloaded or transmitted to an outside party. Companies also need to have a consistent and practical approach for retrieving confidential information when an employee leaves the company, as well as a process that allows the company to move quickly if it’s determined that the employee retained confidential information and/or the information is at risk, such as being used or transmitted to a competitor or disclosed in a public forum.

and FMLA compliance, navigating sensitive terminations and workplace violence prevention. Training is key not only to improving general management skills, but to avoiding costly lawsuits, agency charges and arbitrations.

Humphrey: Training on Illinois’ new Restrictive Covenant Statute and developing a process for management teams involved with hiring to comply with the statute should occur before Jan. 1, 2022. Periodic training that covers steps a management team can take to protect confidential information and what a manager should do when they become aware of the actual or potential improper use and/or disclosure of confidential information is always a good thing and can be part of any confidential information or data protection plan.

Friedel: The most important training for management teams is in performance management, which has gotten much more difficult with a remote workforce, when employees and managers interact informally on a less frequent basis. Shortfalls in performance management are a huge issue in defending against unfair termination claims. But failing to effectively manage employees’ performance also plays into employee engagement. Employees crave feedback, and when performance management isn’t effective, it leads to disengagement, which is dangerous in our current labor market.

What employment law changes are you anticipating for early 2022?

Cox: In addition to the changes to Illinois law regarding noncompetes and non-solicit covenants, I anticipate potentially expanded OSHA rules and increased enforcement, and increased employer regulations. Employers should also be aware that penalties under our state wage payment law increased, and are steep. There also are several

ABOUT THE PANELISTS AMBER L. COX is a partner at Laner Muchin, a law firm that concentrates exclusively on representing employers nationwide in labor relations, employment litigation, employee benefits and business immigration matters. She counsels clients on compliance-related and strategic issues arising under a broad range of federal, state and local employment laws. She conducts employmentrelated corporate investigations in a variety of settings and frequently leads supervisory training on employment topics such as maintaining a discrimination and harassment-free workplace; effective documentation and discipline; and positive employee relations.

60

LAURA B. FRIEDEL is a partner and chair of the Labor & Employment Group at Levenfeld Pearlstein, which provides legal and business counsel to clients across a broad range of corporate, tax, real estate, estate planning and litigation matters. When disputes arise, she works closely with clients to determine their business goals relating to the claim and then targets the litigation, arbitration or settlement discussions to meet those goals. And when a union is involved—or seeking to insert itself—she helps companies understand and meet their obligations under labor laws while still adhering to their larger business goals.

J. SCOTT HUMPHREY is a partner and chair of the Trade Secrets, Restrictive Covenants and Unfair Competition Practice Group at Benesch, an AmLaw 200 business law firm. He has extensive litigation, arbitration and counseling experience involving a wide range of complex commercial contract disputes and business torts, including matters arising from trade secret appropriation, breach of restrictive covenants, contract disputes, manufacturing and distribution issues, fraud and insurance disputes.

As a result, he serves as lead litigation and consulting counsel for a broad range of clients, ranging from small business owners and startups to Fortune 100 companies.

allowed employees to work remotely for a period because of COVID means that remote work is a reasonable accommodation going forward. In 2020, the EEOC said that allowing employees to work remotely due to COVID didn’t mean that remote work would be a reasonable

accommodation later. I don’t think anyone anticipated that offices would be closed for over a year. The EEOC has recently filed a lawsuit saying that a disabled employee who was permitted to work from home during the pandemic could not be required to return to the

workplace because remote work was a reasonable accommodation. If the EEOC is successful, it would give lots of employees an avenue to demand remote work under the Americans With Disabilities Act.

“Benesch always does a good job of explaining what our options are and giving us counsel from a very pragmatic approach aimed at keeping matters moving forward and reaching effective agreements.”

“THE BIG ISSUE TO WATCH IS WHETHER THE FACT THAT AN EMPLOYER ALLOWED EMPLOYEES TO WORK REMOTELY FOR A PERIOD BECAUSE OF COVID MEANS THAT REMOTE WORK IS A REASONABLE ACCOMMODATION GOING FORWARD.”

FRITZ KOHMANN CFO, Shearer’s Snacks

— LAURA B. FRIEDEL, LEVENFELD PEARLSTEIN What type of employment law training should organizations consider for their management teams?

Cox: In addition to statutorily required training such as sexual harassment prevention training in Illinois, employers should consider training on basic supervisory skills including leadership and team building; effective communication and listening; and motivating employees. Employers should also consider training management on the importance of effective documentation and discipline, ADA

pieces of pending legislation at the federal level including legislation aimed at holding employers accountable for systemic pay discrimination; prohibiting employers from requiring employees to sign pre-dispute arbitration agreements; bolstering reasonable accommodations for qualified applicants and employees affected by pregnancy, childbirth or related medical conditions; and enhancing the power of workers to organize and collectively bargain.

MY BENESCH MY TEAM To learn more about our relationship with Shearer’s, visit beneschlaw.com/myteam.

www.beneschlaw.com

Friedel: The big issue to watch is whether the fact that an employer

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40 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS æ`ÛiÀÌ Ã } -iVÌ

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ASSOCIATE (Citadel Americas LLC – Chicago, IL); Mult pos avail: Conduct differentiated, bottom-up fundamental fin res & analysis of companies, bus models & industries. F/T. Reqs a Bach degree (or foreign equiv) in Fin, Econ, Engin, CS or a rel field. Edu, train, or exp must include the follow’g: perform’g sell-side equity res, invstmnt banking, or invstmnt mngmnt; maintain’g detailed income statement models & rel market data spreadsheets in MS Excel or sim; build’g, assess’g & manipulat’g models & communicat’g them to internal mngmnt & cross-functional stakeholders; analyz’g info in SEC docs, earn’gs transcripts & sell side res reports; conduct’g res projects that examine industry growth & competitive dynamics, includ’g regulatory & tax dvlpmnts; &, conduct’g meet’gs & phone calls to communicate with senior management of comp under coverage. Resumes: Citadel Americas LLC, Attn: ER/LE, 131 S Dearborn St, 27th Fl, Chicago, IL 60603. JOB ID: 5752928.

QUANTITATIVE DEVELOPER (Citadel Americas LLC – Chicago, IL); Mult pos avail. Collab with res teams to dsgn & implement quant tools & strat for trad’g innovations across asset classes. F/T. Reqs a Bach degree (or foreign equiv) in CS, Stat, Engin, Math, Physics, or rel quant field. Edu, train, or exp must include the follow’g: work’g in sftwre dev; stat model’g techniques includ’g time-series analysis, Stat Machine Learn’g, Natural Language Process’g, pattern recognition, or sim; data collection, cleans’g, & process’g; big data analytics; programm’g with C, C++, Java, Python, SQL, R, or Kdb+/q; object-oriented analysis & design; & data structures, algorithms, & comp arch paradigms. Resumes: Citadel Americas LLC, Attn: ER/LE, 131 S Dearborn St, 27th Fl, Chicago, IL 60603. JOBID: 5752996.

QUANTITATIVE RESEARCH ANALYST (Citadel Securities Americas LLC – Chicago, IL); Mult pos avail. Analyze & solve complex market probs through the use of tech, math and stat model’g, & comp systems.

F/T. Reqs a Bach degree (or foreign equiv) in Stat, CS, Engin, Math, Physics, Ops Res, or a rel quant field. Edu, train, or exp must include the follow’g: conduct’g data-intensive investment-rel res & analysis; adv math & stat model’g includ’g time-series analysis, cross-sectional analysis, Statistical Machine Learning, Natural Language Processing, pattern recognition, or sim; performing computations & res with programm’g languages includ’g Python, R, C++, Matlab, Julia, or similar; &, NoSQL databases includ’g MongoDB or sim. Resumes: Citadel Securities Americas LLC, Attn: ER/LE, 131 S Dearborn St, 27th Fl, Chicago, IL 60603. JOBID: 5753055.

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CAREER OPPORTUNITIES ANTHEM, INC. seeks ENGINEER III in Chicago, IL to Perform analysis, design, development, implementation, and support on Relational Database Management Systems (“RDBMS”) in Production, Development and Test environments. Apply at www.jobpostingtoday.com REF #25214.

CAREER OPPORTUNITIES QUANTITATIVE RESEARCH ANALYST (Citadel Americas LLC – Chicago, IL); Mult pos avail. Analyze & solve complex market probs through the use of tech, math and stat model’g, & comp systems.

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United’s CEO speaks his mind

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Dallas-based Plane Business Banter, who has known Kirby for more than 20 years, back to his days at America West. “That’s his personality. He’s always been direct.”

What’s different now is Kirby has the world’s attention as CEO of a global airline. His words and actions—which affect customers, shareholders and employees—are playing out against the backdrop of a pandemic that has caused the worst downturn in aviation history.

They’re also the clearest signal yet that nearly 18 months into Kirby’s tenure as CEO, United is very much his airline.

MAKING HIS MARK

Kirby is a self-proclaimed nerd who made his mark in the industry over the past 25 years as a savvy network planner who helped carriers such as America West, US Airways and American Airlines figure out where and when to fly to make the most money. He was known as a smart, sometimes brash executive who wasn’t afraid to defend his ideas.

As CEO of United, he was an early and unapologetic advocate of mandatory vaccines for employees, although it took more than six months before he could fully implement that policy. It involved delicate negotiations with labor, and United has been sued by some employees. But faced with losing their jobs, all but about 300 of United’s 67,000 employees got shots or requested religious or medical exemptions. Other airline bosses who initially balked at vaccine mandates have since followed Kirby’s lead.

Asked why he did it, Kirby pointed to the data. “The reality is once you’ve been vaccinated, even if you’ve been exposed, the chances that you’re going to get a severe hospitalization or die is very low,” Kirby said during a Sept. 27 appearance at the Atlantic Festival. “I view my highest obligation to protect all of our employees.”

Kirby’s action drew attention at the highest levels. President Joe Biden’s visit to Chicago last week included a meeting with Kirby.

Jeffrey Sonnenfeld, a professor at Yale School of Management, says Kirby “championed science over superstition and proved that American workers want to do the right thing when they are told the truth.

United was one of 10 companies to step out front on this matter, and there are now over 200 major employers.”

His stand on climate change was also driven by the numbers. United has been working on ways to reduce pollution and reliance on traditional jet fuel for more than a decade. Last December, Kirby stepped out ahead of the industry’s pledge to become carbon neutral by 2050 by several months. He underscored the commitment with a multimillion-dollar investment in a startup that’s developing technology to capture and trap carbon emissions underground and publicly rejected the idea of purchasing pollution credits through projects such as planting or preserving trees.

“Mankind emits 4,000 times as much carbon today as we did in

the preindustrial era,” Kirby, a history buff who quotes Churchill biographies on earnings calls, later said on a Washington Post podcast.

“There is not room on the planet to plant 4,000 times as many trees, and as long as every corporation gets there in the convenient, easy way and checks the box on carbon offsets, the planet is never going to solve this problem.”

When the airline announced that half the 500 students coming through United’s pilot-training school each year would be women or people of color, Kirby explained the rationale to the Economic Club of Washington, D.C., with the data.

“Today 81% of our pilots are white men. Only 19% of our pilots are people of color or women.”

That’s not to say emotion doesn’t figure into his decisions. Kirby has said that writing letters to families of United employees who had died from COVID-19 helped motivate him to require vaccines.

CEOs increasingly are wading into politically charged issues— such as climate change, immigration, voting rights and racial equality—that would have been off-limits before, says M.K. Chin, an assistant professor at Indiana University’s Kelley School of Business.

“CEOs of U.S. public companies are speaking out way more than 10 years ago,” says Chin, who has researched the topic. “They feel more comfortable or sometimes feel more pressure to take a stance on issues that are controversial.”

BACKLASH

United braved backlash on the voting rights issue when it criticized controversial new election laws proposed in Georgia and Texas. The comments gave “air cover” to rivals Delta and American, which had taken flak for speaking out, says Sonnenfeld.

It’s a balancing act, as CEOs try to address the often-competing interests of customers, employees and investors.

“There are downsides to talking publicly on these issues,” Chin says.

“Baby boomers and Generation X respond negatively. Millennials want to see CEOs take a stand.”

United was criticized by some on social media over its diversity and mask initiatives, but the company has said that reaction from employees and customers for policies has been more positive than negative.

“Effective leadership is hard. If you attempt to lead by populism, you’re bound to fail,” says Todd Insler, who leads the Air Line Pilots Association union at United and sits on the company’s board. “Scott is aggressive. So am I. We don’t always agree. There have been many difficult decisions over the past few years, and United is better positioned because of them.”

Kirby also has shown a willingness to go his own way on business decisions. For example, he made no friends in the industry when United eliminated fees to customers who change flights, a source of significant revenue for airlines.

Delta and American soon followed.

Kirby has said it’s a change he had wanted to make for 20 years, but it’s the kind of “billion-dollar decision” that only the CEO gets to make.

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Hospitals billing in advance, giving patients sticker shock before they operate norm,” says Richard Gundling, senior vice president of Healthcare Financial Practices at the Healthcare Financial Management Association.

The practice has become more widespread, given the push for health care price transparency and the prevalence of high-deductible health plans, Gundling says.

Such health plans have lower monthly premiums, but come with yearly out-of-pocket expenses for in-network care ranging from $7,000 to $14,000, according to the Centers for Medicare & Medicaid Services.

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costs and without the opportunity to assess the quality of care provided. Some question why hospitals should collect payment upfront, while most other service providers, all of whom risk bad debt, send bills only after providing services.

“The practice is not very favorable to consumers,” says Courtney Hedderman, AARP Illinois’ associate state director of advocacy and outreach. “You don’t realize that you could and should say no, because you’re already in a very vulnerable state.”

Most large hospital systems in the Chicago area ask patients to pay before providing certain services. They say the practice promotes price transparency and prevents surprise medical bills after the fact, particularly if a service isn’t covered by insurance or a provider is out-of-network.

And while the federal Emergency Medical Treatment & Labor Act requires hospitals to treat patients in need of emergency services, regardless of their ability to pay, nothing prevents hospitals from requesting payment before providing elective care.

The estimates hospitals provide don’t take into account other insurance claims that haven’t been processed, which means they don’t necessarily reflect a patient’s deductible at the time of service, patient advocates say. And estimates often exceed the actual cost of care, leaving those who do prepay to wait patiently for refunds, which can take weeks or months, they say.

Most hospitals say overpayments are automatically applied to any outstanding medical bills a patient may have, or a refund is automatically issued. But advocates say the onus is on patients to check for a refund.

Carrie Espinosa, a benefits consultant and insurance adviser, is among people who’ve been required to pay in advance for medical care.

Hedderman says she occasionally gets calls from AARP members asking whether they need to prepay for medical services—with the most recent call coming in late last month from a Northbrook man.

PARTICIPANTS

Advocate Aurora Health, Northwestern Medicine, Amita Health, Rush University System for Health, and NorthShore University HealthSystem are among chains that engage in the practice.

Many say they only require deposits from out-of-network or self-pay patients for elective care, but it also depends on the procedure.

For example, Evanston-based NorthShore, which requires pay-

ment before cosmetic procedures, says “medically necessary services are not rescheduled based on the ability to pay or provide a deposit.”

Some of the systems started billing patients in advance after the Affordable Care Act was signed into law a decade ago. Rush is the latest to engage in the practice, implementing its policy in 2019.

Cook County Health, which operates safety-net hospitals serving many patients without private insurance, says those who pay upfront get discounts, but it’s not a prerequisite for care.

Loyola Medicine, the University of Chicago Medicine, and Edward-Elmhurst Health didn’t respond to requests for comment.

And it’s not just hospitals. North Shore Endoscopy Center in Lake Bluff, where Espinosa got her care, requires that all patients pay in advance.

“In line with industrywide health care practices, we work with each patient and their health insurance plans to determine the patient’s responsibility, including copay and deductible, in advance and ask that services be paid for at the time of care,” says a representative for the center, which is part of ambulatory surgery center management company Amsurg.

Today, providing patients with an estimated out-of-pocket cost and asking that they pay in advance is “very common, if not the

Meanwhile, national uncompensated care, which includes charity care and unpaid bills, has increased 15% to $41.6 billion since 2015, according to the American Hospital Association.

“It might be an irritant for me going in and saying, ‘Wait a second, I didn’t get my MRI and you want $200 right now?’ But, in reality, it’s supposed to make it better for me as well as the health system,” says Venanzio Arquilla, managing director Chicago-based consultancy Claro Healthcare. “I don’t want to see seven bills (from a hospital). . . .It’s expensive to continue to bill people and, ultimately, it really raises the cost for people who are paying by shifting costs.”

An interim final rule released by the Biden administration late last month also aims to increase health care price transparency by preventing excessive out-of-pocket costs among consumers who unknowingly get care out-of-network.

“There are so many people with so much medical debt,” Espinosa says. “The cost of care, to me, is the fundamental issue. . . .I don’t hate the player, I hate the game.”

Sale of union-affiliated Amalgamated Bank means big payday for its CEO their three children, paid $4.2 million to purchase the note following his death in 2010 is for held by Chase, according to the now a tale told only through doc- filing, obtained via a Freedom of uments. Wrobel didn’t respond to Information Act request. (A few other investors, including Wromultiple requests for comment.

An ill-timed loan Heytow took bel’s brother-in-law, acquired a out, secured by his stock in Amal- very small portion of the Heytow gamated, appears to be the key stake.)

“Immediately following the to the deal. Heytow obtained the loan from JPMorgan Chase in contemplated purchase, the 2007, according to a filing Wrobel (Heytow) estate will assign and transfer 102,030 of the (Amalgamated AMALGAMATED NEVER HAS BEEN A Investments) shares HIGH-EARNING BANK, BUT ITS STABLE and the note will be forgiven and deemed CUSTOMER ROSTER HAS MEANT IT to be satisfied,” the read.

DOESN’T TAKE A LOT OF RISK, EITHER. filing At the time, the book value of Amalmade with the Federal Reserve gamated Investments was about when he acquired the stock in $40 million, based on financial early 2013. When Heytow died reports submitted by the bank. in August 2010, the loan still was That would have made the Heytow estate’s stake worth $23 miloutstanding.

A trust set up by Wrobel, and lion, at least in terms of equity on separate trusts benefiting his the bank’s balance sheet. Wrobel wife, Debra Wrobel, as well as and the other investors acquired AMALGAMATED from Page 3

P041_CCB_20211011.indd 41

their shares at just 18% of the company’s book value, according to the filing.

Amalgamated never has been a high-earning bank, but its stable customer roster of unions and municipal governments has meant it doesn’t take a lot of risk, either. With steady earnings, its book value had doubled to about $80 million as of June 30, 2021.

Amalgamated of New York is paying 1.2 times that amount in cash for the acquisition.

BENEFITS

The stock gain isn’t the only benefit Wrobel is receiving from the deal. He has a consulting agreement with Amalgamated of New York in which he’ll be paid $600,000 next year to help with the transition.

At the same time, there will be job losses at the Chicago bank to help the deal pencil out. In an investor presentation, the New York-based bank said it planned to cut 25% of the Chicago bank’s

overhead costs, more than half of which are worker salaries. There were 167 employed in Chicago as of June 30.

Wrobel told the Chicago SunTimes when the deal was announced Sept. 21 that there would be some job losses, but there would have been more had Amalgamated merged with a local bank.

The Heytow family appears to be getting nothing from the sale.

Mitzi Heytow, the ex-wife of Eugene Heytow, said in a brief interview that she wasn’t aware of any money coming to her family.

Wrobel himself once was a part of the Heytow family, having married Eugene Heytow’s daughter. But the two divorced in the 1980s, and Heytow never held that against Wrobel, sources say. Wrobel succeeded Bill Daley, son of the late Mayor Richard J. Daley, as Amalgamated president in 1993. Daley ran the bank for three years, and it gave him his introduction into

the industry. He currently is vice chairman of public affairs at San Francisco-based banking giant Wells Fargo.

Heytow was as politically connected as any banker in Chicago during his heyday—friends not just with the Daleys, but also former Republican Gov. Jim Thompson. In addition to Amalgamated, he was a substantial investor in the parent of Oak Brook Bank.

That bank, run by a man married to Heytow’s niece, sold to MB Financial in 2006 for $372 million and now is part of Cincinnatibased Fifth Third.

As for union ownership of Amalgamated? Wrobel told the Sun-Times that unions and the Chicago Federation of Labor together own about 15% of the bank. The unions were brought back into ownership in 2003, he told the newspaper. With a bank book value back then at $67 million, those unions quite likely paid more than $4 million for the stake.

10/8/21 4:10 PM

42 OCTOBER 11, 2021 • CRAIN’S CHICAGO BUSINESS

ARCHDIOCESE from Page 3 status—its lowest point yet—with $170 million in outstanding debt.

Over the last five years, the archdiocese has provided $107 million to struggling schools, according to the organization.

The economic challenges loom large. At least a dozen Catholic schools have closed since 2017 due to low enrollment and financial difficulties. With more dioceses nationwide seeking bankruptcy protections because of mounting litigation costs for sexual abuse allegations and COVID-19 shortfalls, whether or not the Chicago Archdiocese will follow suit remains an open question.

Richmond, however, prefers to focus on what he can more easily control—the quality of education offered by his schools.

Richmond laid out several avenues for increasing enrollment, which he said is one of his goals, and many mirror the fundamental principles of school choice that he’s built a career championing.

One involves differentiating curricula among schools, so families have more options. That could entail standing up additional International Baccalaureate Programs at elementary schools—there’s just one so far—as well as offering specialized focuses like career technical training or performing arts akin

to a magnet school model.

“Parents are looking for programs that fit the interests and needs of their kids,” Richmond said.

“I think we’ve got to be positioned to respond to those interests.”

Another key area of improvement is affordability. In 2019, the average tuition at Catholic elementary schools was $4,903 per year and high schools charged $10,864—a 40% increase in the last decade that puts the option out of reach for many families.

ASSISTANCE

Richmond said about 16,000 students applied for tuition assistance through the state’s Invest In Kids Scholarship Tax Credit Program, but there was only enough funding for 3,000 awards. The program, which provides a 75% income tax credit to individuals and businesses who make donations that are used as scholarships at private schools, is far from a permanent or reliable solution, though. It depends on legislative approval, is set to automatically expire in 2024, and only narrowly survived a revision in Gov. J.B. Pritzker’s budget proposal this summer that would have steered more of the money into public education.

Richmond said he will ask lawmakers to renew the program and suggest other ways to strengthen it.

“Right now, it’s a 75% tax credit, which is terrific, and we appreciate

it; but if it were a 100% tax credit, that would immediately increase our scholarships dollars available to kids,” he said. “That program isn’t just for Catholic schools. . . .Families are better off, kids are better off, the state is better off if we have a healthy and diverse education system.”

Moody’s will also be tracking how enrollment fares. Though litigation risks and the pending Illinois attorney general investigation into clergy abuse are the most closely watched determinants, Moody’s also looks at schools to assess how much the archdiocese needs to spend assisting them.

In its most recent credit opinion in June, Moody’s held the Ba1 rating stable, noting that the archdiocese had a little more than $1 billion in cash and investments, a sound strategy for realigning financial resources under its “Renew My Church” initiative and lucrative real estate holdings that could generate more revenue if they’re sold off. It also said the schools were performing “better than expected” after enrollment took a hit in the early days of the pandemic.

“There’s been pressures on enrollment at private schools everywhere—parochial schools in particular—so if that continues and there’s an annual deficit at the schools, the Catholic Bishop of Chicago will step in and help,” said Michael Osborn,

TODD WINTERS

Enrollment grows at Chicago Catholic schools

Greg Richmond is the superintendent of Catholic Schools at the Archdiocese of Chicago. vice president and senior analyst at Moody’s. “Stronger revenue growth at schools takes less away from the Catholic Bishop of Chicago and they don’t have to give as much to the schools.”

Archdiocese officials say most of the schools aren’t profitable and that they’re underwritten by their parishes.

“We do not have revenue figures for schools as they are not revenue producers. Our schools are a ministry and many are supported from archdiocese and donor funds as they are not self-funded,” a spokeswoman said in an emailed statement. She said about 44% of schools receive archdiocese assistance to cover operations and 73% receive aid for scholarships.

Despite that support, most school budgets are sustained at the

local level, said Sister Mary Paul McCaughey, who served as superintendent from 2008 to 2015. Dropping membership and collections have exacerbated financial challenges, making them more dependent on tuition revenue.

McCaughey, who now works training parochial school leaders at DePaul University, said she often offered principals this advice: “Get yourself in the black, because the Arch is not going to be able to help you.”

“The diocese is going to be supportive through scholarship funds and things like that, but they are not going to be able to subsidize because the parishes are no longer able to subsidize,” she said. “Even when I was superintendent, less than half of parishes gave anything to their Catholic schools.”

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CRAIN’S CHICAGO BUSINESS • OCTOBER 11, 2021 43

$100,000 for the right to a seat? It’s possible at a new Bears stadium. the hands of buyers who are actually going to attend the games and not just try to flip the individual tickets for profit,” Ryan says.

“This may mean leaving some money on the table, but this venue will be very profitable outside of just the Bears business as it will be a great spot to host concerts, Final Fours, and the Super Bowl.”

Other issues can arise from tying PSL pricing to a team’s recent performance, as demonstrated by recently built stadiums for the San Francisco 49ers and Atlanta Falcons.

SEATS from Page 1 Atlanta, Bay Area and Minneapolis markets over the past seven years leaned heavily on proceeds from such PSL sales to finance their construction. The Buffalo Bills said last month they will sell them to help fund a new $1.4 billion stadium.

PSLs are a familiar concept for the Bears, which sold such licenses ranging from $765 to $8,500 that collectively raised more than $50 million toward the $690 million renovation of Soldier Field in 2002—licenses whose value would evaporate should the team ditch the lakefront stadium. But ticket market experts say those costs would likely pale in comparison to the PSL rates the team could charge to back a new venue that could easily cost upwards of $2 billion. That stands to test Bears supporters’ financial willingness to help foot the stadium bill for a team that has seemingly inelastic demand for its product, despite years of mostly middling performance on the field and gripes that many fans are priced out of attending games.

“Considering the team’s performance over the last 10 years, they probably have one of the strongest PSL (values) in the league today,” says Scot Tobias, founder of TicketAppraisals.com, a New Jersey-based company that advises PSL owners on the value of their licenses. For the best seats in a new stadium, the Bears could get takers for PSLs at $100,000 apiece, he estimates.

Financing tales from the last five new NFL stadiums illustrate the potential gains and pitfalls of PSLs that could shape how the Bears approach such licenses, which require buyers to purchase the underlying season-ticket package each season to remain valid.

SOFI STADIUM

TIMING

million toward the $1.9 billion cost to build the venue—more than double what they projected the PSLs would generate.

The Los Angeles Rams, which share the new SoFi Stadium in Inglewood, Calif., with the Los Angeles Chargers, had similar success generating hundreds of millions of dollars in seat license funds to help shoulder the project’s $5.5 billion price tag.

Buyers of its PSLs paid as much as $100,000 for the right to buy a season’s worth of the priciest tickets in the venue.

It’s conceivable that the Bears—a team that has won just one playoff game in the past 14 seasons—could charge similar prices to those two examples at a new stadium on the former Arlington International Racecourse site, says Patrick Ryan, co-founder of Houston-based ticket pricing strategy firm Eventellect, which has worked with about half of all major U.S. pro sports franchises.

The numbers could be so much higher today, in part, because the team may have drastically underpriced its initial PSLs in 2002, based on the way the market val-

DOUBLING DOWN

In Las Vegas, the Raiders sold PSLs for 85% of the 65,000 seats at Allegiant Stadium, which opened last year as the team relocated from Oakland, Calif.

Prices ranged from $500 apiece to $75,000 for the right to buy the best seats in the building, and the team reportedly pulled in $549

LAS VEGAS RAIDERS

At SoFi Stadium, Los Angeles Rams fans paid as much as $100,000 for the right to buy a season’s worth of the priciest tickets in the venue.

PSL prices ranged up to $75,000 at Allegiant Stadium, the new home of the Las Vegas Raiders. ue has jumped. Those who purchased the original Soldier Field PSLs saw the market value of the licenses more than double over their first decade, according to a 2012 Forbes report. In the past six months, Soldier Field PSLs that were originally sold for $765 have traded on the resale market for more than $2,500, according to data from STR Marketplace, which runs the official online PSL marketplace for the Bears and many other NFL teams.

The challenge for the Bears with a new stadium will be pricing PSLs in line with what the market will bear to avoid a rash of ticket brokers snapping them up and trying to flip them for a profit, Ryan says, but to also ensure that average fans who actually want to attend games can afford to buy them.

“The goal should be for the Bears to have a great relationship with their fans for years to come which means getting the PSLs in

San Francisco sold out of seat licenses priced from $2,000 to $80,000 before the 2014 debut of $1.3 billion Levi’s Stadium in Santa Clara, Calif., a run that occurred amid three consecutive years of making the playoffs, including a Super Bowl appearance.

But the team went the next five seasons without a winning record, and PSLs started trading on the secondary market for hundreds or even thousands of dollars less than their original prices, dealing a financial blow to sellers who helped fund stadium construction.

In Atlanta, around 7,000 PSL owners simply stopped paying installments toward their purchases between 2016 and 2020, according to records from the Georgia agency that owns the $1.6 billion Mercedes-Benz Stadium. Those defaults totaled nearly $43 million owed to the Falcons, which could either go after non-payers legally or take back the PSLs and simply sell them to others—assuming they can find buyers. Original PSL prices for the stadium ranged from $500 to $45,000.

“That puts teams in a really tough spot,” says Nels Popp, an associate professor in the sports administration program at the University of North Carolina, whose research focuses on ticket sales. “You need the money and, contractually, these buyers have to pay you. But do you want to be the team that sues your season-ticket holders? That’s a really bad look.”

THE PRICE OF THE RIGHT TO PAY NFL teams that have built new stadiums over the past decade have leaned heavily on personal seat license sales to finance them.

PSL PRICE RANGE LEVI’S STADIUM (2014)

U.S. BANK STADIUM (2016)

Santa Clara, Calif. $2,000 $0

$25K

$80,000 $50K

MERCEDES-BENZ STADIUM (2017)

Minneapolis

$75K

Atlanta

$500 to $9,500 $100K

Team: San Francisco 49ers Cost to build: $1.3 billion

$0

$25K

$500 $50K

$75K

$100K

Team: Minnesota Vikings Cost to build: $1.1 billion

*Prices were for the Rams. The Chargers offered PSLs ranging from $100 to $3,000.

HOW TO CONTACT CRAIN’S CHICAGO BUSINESS EDITORIAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312-649-5200 CUSTOMER SERVICE . . . . . . . . . . . . . . . . . . 877-812-1590 ADVERTISING . . . . . . . . . . . . . . . . . . . . . . . . . 312-649-5492

P043_CCB_20211011.indd 43

CLASSIFIED . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312-659-0076 REPRINTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212-210-0707 editor@chicagobusiness.com

$0

$45,000 $25K

ALLEGIANT STADIUM (2020) $500

$50K

Team: Atlanta Falcons Cost to build: $1.6 billion

$75K

$100K

SOFI STADIUM (2020)

Las Vegas

$0

Inglewood, Calif.

$75,000 $25K

$50K

Team: Las Vegas Raiders Cost to build:: $1.9 billion

$75K

$1,000 $100K

$0

$25K

$100,000* $50K

$75K

$100K

Teams: Los Angeles Rams, Chargers Cost to build: $5.5 billion Source: Crain’s reporting

Vol. 44, No. 41 – Crain’s Chicago Business (ISSN 0149-6956) is published weekly, except for the last week in December, at 150 N. Michigan Ave., Chicago, IL 60601-3806. $3.50 a copy, $169 a year. Outside the United States, add $50 a year for surface mail. Periodicals postage paid at Chicago, Ill. Postmaster: Send address changes to Crain’s Chicago Business, PO Box 433282, Palm Coast, FL 32143-9688. Four weeks’ notice required for change of address. © Entire contents copyright 2021 by Crain Communications Inc. All rights reserved.

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