2014 INDUSTRY PROGRESS REPORTS PAGE 30
Millionaire Magnet Why we’re attracting the wealthy at record levels PAGE 20
No Reservations Mega-hotelier Ocean Properties is bullish on our market PAGE 46
CATER TO THE ING ULTR A AFFLU E NT CH E
F JE R HAMM EMY O CH A M N D BERS
We don’t just get involved. We work to strengthen the foundation for your success.
Sound strategies rest on solid foundations. That’s why our legal solutions rest firmly on the underlying principles of your company. Not only will we offer you a wide breadth of legal skills, at Shumaker we’re committed to building your success brick-by-brick. We’ll even provide you a project manager to cement the relationship. Whether it’s our commitment to you, or to our work in the community, involvement forms the cornerstone of everything we do.
Shumaker, Loop & Kendrick,LLP
C H A R L O T T E
C H A R L O T T E
Shumaker, Loop & Kendrick,LLP Attorneys Law S A at R A S O T A
C O L U M B U S
C O L U M B U S
S A R A S O T A
T A M P A
T A M P A
941.366.6660 • slk-law.com
T O L E D O
T O L E D O
Culp-Henson Private Cardiology and Internal Medicine. Culp-Henson integrates all of your medical care in a single practice with trusted physicians.
3830 Bee Ridge Road Sarasota, FL 34233 (941) 924-4729 culphenson.com
Culp-Henson Private Cardiology and Internal Medicine is a concierge medical practice founded by Dr. Stephen C. Culp and Dr. Kenneth D. Henson. We combine cardiology and internal medicine expertise in a single practice with around-the-clock direct physician access. Board certifications in Cardiology and Internal Medicine allow Drs. Culp and Henson to provide comprehensive care for a broad range of medical issues. Culp-Henson integrates all of your medical care in one practice with trusted physicians. The number of patients is limited to ensure availability, direct communication and individual attention. Our combination of training, experience, compassion and personal service affords our patients exceptional care.
Choosing your physician is highly personal and one of the most important decisions you will ever make. Drs. Culp and Henson welcome the opportunity to meet with you to discuss your health care needs.
LORI SAX
NOV. | DEC. 2014 YEAR IN REVIEW We’re getting close to the end of the year, so we asked experts in eight industries in our region to assess 2014. Everything’s relative, of course. For the most part, the year was one of steady improvement but offered little to get excited about. But right now, “steady improvement” still feels like a good report card, like that sigh of relief you feel when your underperforming school-age kid gets a C+ instead of an F. To get a rearview look at our economy from industry leaders, read “Industry Snapshot” on page 30. There are bright spots. Tourism is way up, partly as a result of a beefed-up marketing budget from our state tourism bureau, Visit Florida, and visitors continue to pack our hotels. As further evidence of how promising this visitor market seems, read “The Long Game,” page 46, about Ocean Properties, which has purchased six hotels in Sarasota and Manatee and says they’re in it for the long haul. We’re attractive to others as well. Sarasota is an astounding No. 2 in the nation, on a per capita basis, in attracting wealth. Our cover story, “Where’s the Money?” on page 20, looks at who’s moving here and why. No longer are we attracting only millionaires; we are attracting people with seven and eight zeroes in their net worth. In fact, people with a million are almost apologetic about their lack of financial success, one wealth adviser told us. Yes, everything’s relative.
susanb@biz941.com
20
WHERE'S THE MONEY?
Sarasota is fast becoming a mecca for the superrich. Here’s who’s coming, and some businesses benefiting from them.
30
I NDUSTRY SNAPSHOT
Business leaders give us their progress reports this year.
ESIGN STARS 42 DThree recent commercial renos that rate the cool factor.
HE LONG GAME 46 TMeet the family behind Ocean Properties, which is snapping up area beachfront.
6
TALK
Stuff you need to know, from the updated I-9 form to a company that turns house plans into 3-D images.
58 FINANCIAL
60 FAST TRACK
84 THE SEEN
73
88 OFF THE
Advertising guru Tom Shepard.
Attorney Will Robinson runs for his life.
Movers, shakers and headline makers
WHAT I’VE LEARNED
People and events in pictures.
CLOCK
INTELLIGENCE
Five year-end strategies to cut your taxes.
ADVERTISING SECTIONS
36 Top Financial Institutions 50 Top Architects, Builders & Landscapers 65 Gulf Coast Builders Exchange 76 Five Star Wealth Managers 80 Tax Tips for 2015
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NOVEMBER | DECEMBER 2014
BIZ(941) 3
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CEO Dan Denton Executive Vice President & Kelley Lavin Group Publisher Vice President & Pam Daniel Editorial Director Consulting Publisher Randy Noles
DO WN TO
WN SA RA SOT A
BO OM S
Vice President & Pamela Flanagan General Manager PAG E 70
EDITOR Susan Burns
FREE
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TO
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20 men and wo reshaping our men region
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HOME & GARDEN Blissful living, inside and out ANNUAL
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Statement of Ownership, Management, and Circulation, PS Form 3526R. 1. Publication Title: Biz(941). 2. Publication Number: 1936-7538. 3. Filing Date: September 19, 2014. 4. Issue Frequency: January, February/ March, April/May, June/July, September/October, November/December. 5. Number of Issues Published Annually: 6. 6. Annual Subscription Price: Free. 7. Complete Mailing Address of Known Office of Publication: 330 South Pineapple Avenue, Suite 205, Sarasota, FL 34236-7032. Contact Person: Diana Clenney; Telephone: (941) 487-1136. 8. Complete Mailing Address of Headquarters or General Business Office of Publisher: 330 South Pineapple Avenue, Suite 205, Sarasota, FL 34236-7032. 9. Full Names and Complete Mailing Addresses of Publisher, Editor and Managing Editor: Kelley Lavin, Executive Vice President & Group Publisher; Susan Burns, Editor; Ilene Denton, Managing Editor; 330 South Pineapple Avenue, Suite 205, Sarasota, FL 34236-7032. 10. Owner: Gulfshore Media, LLC, 330 South Pineapple Avenue, Suite 205, Sarasota, FL 34236-7032. 11. Known Bondholders, Mortgagees and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities: None. 12. (Does not apply.) 13. Publication Title: Biz(941). 14. Issue Date for Circulation Data Below: October 2014. 15. Extent and Nature of Circulation: Average Number of Copies Each Issue During Preceding 12 Months; Number of Copies of Single Issue Published Nearest to Filing Date: A. Total Number of Copies: Average: 7,885; Actual: 8,000. B. Legitimate Paid and/or Requested Distribution: 1: Outside County Paid/Requested Mail Subscriptions Stated on PS Form 3541: Average: 4,015; Actual: 3,750. 2. In-County Paid/Requested Mail Subscriptions Stated on PS Form 3541: Average: 0; Actual: 0. 3. Sales Through Dealers and Carriers, Street Vendors, Counter Sales, and Other Paid or Requested Distribution Outside USPS: Average: 19; Actual: 18. 4. Requested Copies Distributed by Other Mail Classes Through the USPS: Average: 0; Actual: 0. C. Total Paid and/ or Requested Circulation: Average: 4,034; Actual: 3,768. D. Nonrequested Distribution: 1. Outside County Nonrequested Copies Stated on PS Form 3541: Average: 1,699; Actual: 1,365. 2. In-County Nonrequested Copies Stated on PS Form 3541: Average: 0; Actual: 0. 3. Nonrequested Copies Distributed Through the USPS by Other Classes of Mail: Average: 0; Actual: 0. 4. Nonrequested Copies Distributed Outside the Mail: Average: 1,543; Actual: 2,310. E. Total Nonrequested Distribution: Average: 3,242; Actual: 3,678. F. Total Distribution: Average: 7,276; Actual: 7,443. G. Copies not Distributed: Average: 610; Actual: 557. H. Total: Average: 7,885; Actual: 8,000. I. Percent Paid and/or Requested Circulation: Average: 55%; Actual: 51%. 16. (Does not apply.) 17. Publication of Statement of Ownership for a Requester Publication is required and will be printed in the November/ December 2014 issue of this publication. 18. Signature and Title of Business Manager: Pamela A. Flanagan, Vice President. Date: September 19, 2014.
Account Executive Dan Starostecki Account Executive Sandy Moore
SARASOTA Sarasota Magazine Biz(941)
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On the Beach Visitors Annual
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Sarasota Health Sarasota Magazine's Home Buyer
MARKETING
Director of Cindy Christo Brown Events & Marketing
SEE Sarasota Holiday Gift Guide
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St. Armands Magazine
CIRCULATION
Southwest Florida Guide to the Arts
Circulation Director Diana Clenney
Asolo Repertory Theatre Program
BUSINESS Clerk Credit Manager Sara Clements
Sarasota Music Festival
Sales & Marketing Deborah Feinsod Assistant
Sarasota Orchestra Masterworks Program Sarasota Orchestra Pops Program
CONTRIBUTING
Writers David Ball, Brad Edmondson, Lori Johnston, Kim Hackett, Cooper Levey-Baker, Molly McCartney, Rich Rescigno, Jackie Rogers, Carol Tisch, Abby Weingarten, Johannes Werner
Van Wezel Performing Arts Hall Program Venice Magazine Westcoast Black Theatre Troupe Program
CONTRIBUTING
Photographers Jenny Acheson, Barbara and Artists Banks, Kathryn Brass, Matthew Holler, Chris Lake, Gene Pollux, Lori Sax, Alex Stafford
330 S. Pineapple Ave., Suite 205, Sarasota, FL 34236 Phone: (941) 487-1100 Fax: (941) 365-7272 Biz941.com | SarasotaMagazine.com
4 BIZ(941) NOVEMBER | DECEMBER 2014
FLORIDA
Florida Homebuyer Orlando Orlando Life Winter Park Magazine
Talk NOVEMBER | DECEMBER 2014
I NNOVATOR ➜ Frank
Elge
CEO/Co-Founder Avant VR
6 BIZ(941) NOVEMBER | DECEMBER 2014
Frank Elge with a 3D helmet for viewing his virtual tours
ALEX STAFFORD
BUYING A PRICEY NEW HOME—especially if it’s only from a set of architectural drawings in a sales center—can be nerve-wracking for the buyer and challenging for developers and their sales staff. So Frank Elge, co-founder and CEO of Avant, along with co-founder and CFO Greg Orquera, created a virtual reality company in 2013 to show how a home or property will look before it’s been developed. They offer guided computer-based browser simulations, video game-like walkthroughs or standalone systems like the Oculus Rift, a helmet that potential buyers wear to give them a 3D experience of the space. Avant’s virtual simulations are built to the developer’s specifications. Cost depends on how much programming is required to match the plans provided; Elge estimates the average price to be around $5,000 for the softwarebased development and a minimum fee of $100 per month depending on the type of hardware. The Avant team, which includes Rob Hackle, chief technology officer, assembles, maintains and services all of the hardware. Currently, Elge is targeting commercial and residential developers for single- and multifamily homes, but foresees the company eventually moving into high-end yachts and motor coaches. “As virtual reality technology becomes more ubiquitous,” he says, “we want to develop multiplatform applications to service a larger market.” Sarasota is a good headquarters for Avant. With the construction of several high-end residential condos, “it’s fertile proving ground for us,” Elge says. ■ By Chelsey Lucas
BIZ RULES
By Chelsey Lucas
OVERHEARD
“We call them the 1099 generation.” —Andrea Knies, internship coordinator, New College of Florida, about the new employment landscape of today’s college graduates who work as independent contractors rather than full-time employees.
900 METRIC
No. of room nights outof-town retail teams and mall executives spent at the Hyatt Place Sarasota Bradenton Airport from August through Oct. 7 in preparation for the opening of The Mall at University Town Center. SOURCE: HYATT PLACE SARASOTA BRADENTON AIRPORT
Beware the I-9 Form EMPLOYERS IN EVERY industry have been caught off guard and paid stiff penalties since the INS expanded the reporting requirements for Form I-9. The form is part of the Immigration Reform and Control Act used to verify employment eligibility and/or authorization of newly hired employees. Shumaker, Loop & Kendrick employment attorney Jennifer Roeper says that employers understandably are confused about the necessary reporting, which can lead to fines of $110 to $1,110 per violation. Failure to complete the form on a timely basis (before the first day or up to the third day of employment) and failure to secure the right kind or amount of documents can result in fines. These fines are subject to all kinds of quirky rules, like a 25 percent decrease for patterns of good behavior, like timeliness in authorizing an employee, or a 25 percent increase for bad behavior such as over documentation—yes, you can be penalized by supplying too much documentation. Moreover, the U.S. Immigration and
Customs Enforcement (ICE) auditor may pursue criminal penalties. So what can employers do? Roeper supports E-verify, a voluntary program available at uscis. gov/e-verify that allows employers to quickly assess an employee’s work authorization. Participation counts as a “good pattern” in accurate reporting. Plan ahead, she says. Meet with an immigration lawyer, have two sets of eyes review the material and keep the I-9 separate from personnel files, as ICE may misinterpret this system of filing as over documentation. You have 72 hours to prepare the information once an ICE auditor visits. “It’s a scramble; you won’t sleep,” she says, so be ready ahead of time. Roeper’s law firm offers free I-9 training. “Companies aren’t realizing that this is a huge responsibility in the hiring process,” she says. Employers can find a checklist to help fill out these forms at i-9employmenteligibility.com/ internal_audit.html. ■
NOVEMBER | DECEMBER 2014
BIZ(941) 7
Talk
BIZ MAKEOVER
As vice president of Professional Benefits Inc., an independent insurance and benefits firm, Taylor Tollerton Collins works in a maledominated industry. Serving as president of the National Association of Insurance and Financial Advisors Gulf Coast Chapter and on the board of the Education Foundation of Sarasota County, she realized her wardrobe should reflect the confidence she possesses in her position. TAYLOR’S GOAL “I want to be feminine, but still project confidence. I want to combine professionalism and comfort. It’s fun to shake things up and break down that glass ceiling while still being able to rock a red carpet.” JACKIE’S GOAL “Taylor works in an industry where men are accustomed to wearing suits to meet clients, so it was important to find an outfit that elevated her look while preserving her feminine side. This dress, with its sharp angles, peplum and zipper detail, adds structure, strength and sophistication. The vibrant blue color is refreshing. (Tip: If you are in a conservative industry and decide to add color to your wardrobe, keep it monochromatic.) A striking, strong dress also needs jewelry that won’t get lost. And with such a bold color, I maintained the rule of pairing a nude shoe for the best look, but found one that was more than a simple pump. Taylor’s willingness to try a new hairstyle proved to be the perfect finishing touch.” TAYLOR’S TAKE “The end result was gorgeous. I never would’ve worn that necklace with the electric blue dress but it looked perfect. I’ve always been afraid of strappy heels, but they were fun and flattering. I can’t wait to wear the dress to my next presentation.”
STORY AND STYLING BY JACKIE ROGERS PHOTOGRAPHY BY ALEX STAFFORD, HAIR BY JODI HOFFMAN AND MAKE-UP BY COURTNEY FRANKLIN, BOTH OF FRESH SALON. SPA. STYLE
8 BIZ(941) NOVEMBER | DECEMBER 2014
BEFORE
Playing it safe.
AFTER
Bold and beautiful.
WHERE TO BUY Tahari dress, $95, Anna and Ava
necklace, $36 both from Dillard’s; Tahari shoes, $105; INC. cocktail ring, $26, both from Macy’s.
We generate over 11,000 jobs and $962+ million into our local economy!
travel with us
TAKE THE PLEDGE srq-airport.com/advocate
Talk
THE LIST
Through the Turnstile
A tally of visitors to Sarasota-Manatee attractions and theaters, 2012-2013 and 2013-2014* 2012-2013 The Ringling**
2013-2014
344,497
384,323
Mote Marine Aquarium
352,000
345,034
Van Wezel Performing Arts Hall
211,509
224,970
Florida Studio Theatre
170,000
190,000+
Marie Selby Botanical Gardens
94,867 106,885
South Florida Museum/ Bishop Planetarium
56,215 67,614
Sarasota Orchestra**
51,294 54,221
Manatee Performing Arts Center
50,547 51,863
Circus Sarasota
44,880 50,981
Sarasota Opera ***
44,269 41,651
Sarasota Ballet
21,310 26,773
Historic Spanish Point**
24,741 24,655
*Numbers cover a one-year period from October to September. **The Ringling, Sarasota Orchestra and Historic Spanish Point numbers go from July to July 2012-2013 and 2013-2014. *** Sarasota Opera figures cover fall and winter seasons: November 1-17 and January-March. List compiled by Bobbilynn Hollifield.
10 BIZ(941) NOVEMBER | DECEMBER 2014
EvErgladEsUnivErsity.EdU
• 100% Online Degree Programs Available
BaChElor oF sCiEnCE dEgrEEs
• Fall Classes starting now!
• Alternative and Renewable Energy Management • Construction Management • Environmental Policy and Management • Land and Energy Management Additional Bachelor’s and Master’s Degrees Offered
sarasota Campus lakewood ranch 6001 Lake Osprey Drive, #110 Sarasota, FL 34240
866.907.2262 NOVEMBER | DECEMBER 2014
BIZ(941) 11
Ask the Originals www.DineOriginal.com
Eat Like a Local “We are spending time on our boat. Where can we dock and get a great meal?”
Talk
By Hannah Wallace
BIZ BITES
Queen of Sheba Fusion brings Ethiopian flavors back to Sarasota.
CHAD SPENCER
(941) 383-2391 | groupersandwich.com
(941) 349-2212 | opheliasonthebay.net
THE PLACE
(941) 748-8087 | pier22dining.com
(941) 729-0616 | Riverhousereef.com
Queen of Sheba Fusion, 4195 N. Tamiami Trail, Sarasota, (941) 359-8000. A satellite of the successful Tampa location, Queen of Sheba fills an Ethiopian niche with other international influences. A former KFC, the sunlit space has been cleared of its fast-food clutter and replaced with simple but charming tables, white tablecloths and cloth napkins.
THE PEOPLE
Young professionals
12 BIZ(941) NOVEMBER | DECEMBER 2014
from adjacent law offices; students from the nearby East-West College of Natural Medicine.
TIME FACTOR
Considering the complex flavors involved, food comes out surprisingly quickly, and attentive service keeps things moving.
THE FOOD
Organized by protein, the menu features traditional Ethiopian flavors (onion, rosemary, turmeric and the traditional spice mixture berbere) with beef, chicken,
lamb, seafood and several hearty vegetarian options. Most ranging from $10 to $16, dishes like Queen’s Lamb Tibs ($13) and the tilapiabased Hanna’s Special Asa Dullet ($16) are automatically paired with a variety of stewed vegetable sides including potatoes, cabbage and misr wot, a lentil stew. Everything is accompanied by injera, a ubiquitous Ethiopian sourdoughrisen flatbread with a spongy texture, to be used as an edible utensil. ■
AGENDA
TRENDSPOTTER
NOVEMBER& DECEMBER
NOV. 2 USF Sarasota-
NOV. 18 National
1:30 p.m. on the USFSM campus, 8350 N. Tamiami Trail, Sarasota. For tickets and information, contact Andrea Stephens at (941) 359-4737 or ajstephens@ sar.usf.edu.
the Association of Fundraising Professionals Southwest Florida Chapter, 11:30 a.m.1:15 p.m. at Michael’s On East, 1212 East Ave. S., Sarasota. $50. Register at afpswfl.afpnet.org.
Manatee’s 21st annual Brunch on The Bay, 11:30-
NOV. 6 PINC
Sarasota, 8 a.m.-9 p.m. at Florida Studio Theatre, 1241 N. Palm Ave., Sarasota. $425, includes breakfast, lunch and a dinner at The Francis. For details, visit pincsarasota.com.
NOV. 13 Manatee
Philanthropy Day Luncheon, presented by
NOV. 19 Lakewood
NURSING ASSISTANTS ($13 an hour in 2013)
a.m. -1:30 p.m.at Polo Grill-Fete Ballroom, 10670 Boardwalk Loop, Lakewood Ranch. $35. Register at lwrba.org.
SOURCE: Florida Department of Economic Opportunity, Bureau of Labor Statistics, January 2014.
largest business after hours networking event, 5-8 p.m. at the Bradenton Area Convention Center, One Haben Blvd., Palmetto. $5 per member at the door; no advance reservations required.
7:30-9:30 a.m. at the Manatee Performing Arts Center, 502 Third Ave. W., Bradenton. Bring a gift for a fellow chamber member. For details and to register, contact Kim Dalglish at (941) 748-4842 ext. 121 or kimd@manateechamber.com.
Creations in Diamonds & Gold, 2389 S. Tamiami Trail, Sarasota. Free for VAYP members and first-time nonmembers; $5 for nonmembers. For details, visit venicechamber.com.
RETAIL SALESPERSONS ($12.71 an hour in 2013)
WAITERS AND WAITRESSES ($11.33 an hour in 2013)
DEC. 11 Manatee
Young Professionals Mixer, 5:30-7:30 p.m. at Classic
THE OCCUPATIONS FORECASTED TO GAIN THE MOST NEW JOBS IN MANATEE AND SARASOTA FROM 2013 TO 2021
Ranch Business Alliance Sandies Awards Luncheon, 11:30
and Greater Sarasota Chambers of Commerce Expo 2014, the region’s
NOV. 13 Venice Area
LOW-WAGE FUTURE
Chamber of Commerce Holiday Coffee Club,
DEC. 16 Suncoast
Technology Forum Tech Connect Holiday Party, 5:30-7:30 p.m. at TBD. $15 for members; $25 for nonmembers. Register at suncoasttechnologyforum.com.
READER METER
Do you ever unplug from your mobile devices?
31%
Always when I leave the office
46
20% Never
%
Only when I go to bed
% 3 Only on
vacation
SOURCE: Biz(941) Daily poll NOVEMBER | DECEMBER 2014
BIZ(941) 13
S
GIFT
*
ANDWICH E LI S DE
T CA GIF
S RD
CARDS
The holidays are upon us, the lists are being made. STIBLE DESSER ESI T R IR
S
ET GOODNES URM S GO
ESTYLE COMFORT HOM
Parties at home and the office, family in town, all celebrating the joy of the season. HORS D’OEUV RE IALTY C E S SP
DWICH PLATTERS SAN
AKFAST DELIGHTS BRE
Take a break at TooJay’s. Buy your gift cards and order your catering while relaxing over lunch or dinner. RESHING SALADS REF
*Open Christmas Day
TOO AY’S SARASOTA Westfield Southgate (941) 362-3692 www.toojays.com
SPONSORED REPORT
Transforming Lives
And Goodwills Everywhere
GOODWILL INDUSTRIES MANASOTA’S TRAINING PROGRAM IMPROVES THE WAY GOODWILLS OPERATE ACROSS THE COUNTRY. Goodwill Manasota is a 501(c)(3) not-for-profit organization whose mission is “changing lives through the power of work.” Through the sales of donated goods and charitable contributions, Goodwill assists people with disabilities and other barriers to employment by providing job skills training and employment opportunities. Goodwill Manasota serves a four county area—Manatee, Sarasota, DeSoto and Hardee—but its’ trailblazing innovations have raised the bar for Goodwills around the globe, making Goodwill Manasota an international leader in programs and innovation. CHANGING THE BUSINESS MODEL in the early 90’s, Goodwill Manasota sought ways to increase economic capacity and maximize mission impact. “Across the country, there was stasis. When we assessed the national average sales per square foot, they hadn’t changed appreciably in many years,” says Bob Rosinsky, President & CEO. “We started serious discussions with other Goodwill executives about how we could change our business model to accelerate our growth.” It became evident during the strategic planning process for Goodwill Manasota the lack of formal training programs for employees was a real barrier to the future success of Goodwill locally and globally.
THAT’S WHEN GOODWILL MANASOTA STEPPED IN.
SPONSORED REPORT
Goodwill Manasota created a consulting arm, Mission Development Services (MDS), which provides education, intensive training and mentoring services to Goodwills across the country. The program is offered through a business-to-business partnership with other Goodwills, which compensate Goodwill Manasota. One component of MDS is the Training Partnership Program. “We teach other Goodwill organizations real estate strategies and market development, leadership skills, how to train employees, how to maximize the value of each donation, how to track the donations and how to figure out how well they are optimizing their potential for profit,” says Rosinsky. The other component is the Territory Licensing Partnership Program, which creates an agreement with a Goodwill that has a territory that is underserved or not served at all. The goal is to create jobs and revenue that can used to support the mission of both partners—Manasota and the community they assist. The Memphis, Tenn., Goodwill is one example of partnership that requested their assistance in 2008 to expand operations in the north Mississippi Goodwill, N. Mississippi. The partnership between Goodwill Manasota and the Goodwill in Memphis, Tennessee is an excellent example of this type of relationship. Memphis requested assistance in developing their Northern Mississippi territory in 2008. Northern Mississippi, under the guidance of Goodwill Manasota, has expanded its operations exponentially since that time, generating more than $59 million in revenue, adding more than 200 employees (and $22 million in payroll), and opening seven new retail locations and 11 donation centers. Goodwill Manasota’s new corporate campus in Bradenton, which opened in October, is an international training center that now serves as the headquarters of the MDS program. Goodwill Manasota has provided opportunities to people through a variety of programs and initiatives in Sarasota, Manatee, DeSoto and Hardee counties for over 32 years these programs are funded through the sale of donated goods, business partnerships and individual philanthropy. Goodwill Manasota belongs to this community, and is not owned by any individual or company.
63%
average increase in revenue among MDS partners
“This partnership has far exceeded all expectations for success. The Memphis Goodwill has received fees for the licensing of Northern Mississippi, which have been instrumental in improving the financial condition of our Goodwill. A thriving Goodwilldonated goods market has emerged in both areas, N. Mississippi and Memphis, and increased revenue has allowed us to redevelop mission services programs that had been cut due to budget constraints,” says -Tony Martini, President & CEO of the Memphis Goodwill.
SPONSORED REPORT
MISSION DEVELOPMENT SERVICES ACHIEVEMENTS
79%
COMMUNITIES WE’VE TOUCHED
CANADA
UNITED KINGDOM London, England
Edmonton, Alberta, CN Sarnia, Ontario, CN Toronto, Ontario, CN Montreal, Quebec, CN
increase in donors in Edmonton, Alberta, Canada
UNITED STATES Lafayette, LA Tucson, AZ Memphis, TN Austin, TX
CASE STUDY
TUCSON, ARIZONA
Partnered in 1998 Revenue: 91% increase to $20.34 million Number of stores: increase of 75% Number of employees: from 150 to 689, an increase of 78% Number of donors: from 106,006 to 399,511, an increase of 74%
Flagstaff, AZ Houston, TX Reno, NV Tallahassee, FL
CASE STUDY
Tupelo, MS Mobile, AL Washington, D.C. Wilmington, DE
HOUSTON, TEXAS Partnered in 2003 Revenue: increase of 88% to $51.30 million Number of stores: increase of 69% Number of employees: from 382 to 1,570, an increase of 76% Number of donors: from 362,000 to 1,341,891, an increase of 73%
86%
increase in number of employees in Northern Mississippi
Goodwill sends our teams to underserved regions to create new Goodwills.
Former Albertsons Grocery Store Lake Havasu City, Arizona
Former Toys R Us Store Flagstaff, Arizona
Former Penzoil Oil Change, Southaven, Mississippi
Former Bank, Cordova, Tennessee
SPONSORED ADVERTISEMENT REPORT
Changing Lives Through The Power of Work
Goodwill Manasota’s new corporate campus in Bradenton
houses a 35,000-square-foot international training center, which opened in October and now serves as the headquarters of the MDS program. For more than 31 years, Goodwill Manasota has provided much-needed opportunities to people through a variety of programs and initiatives in Sarasota, Manatee, DeSoto and Hardee counties. These programs are funded through the sale of donated goods, business partnerships and individual philanthropy. Goodwill Manasota belongs to this community, and is not owned by any individual or company.
To learn more about Goodwill Manasota, our mission, locations, events and more, visit EXPERIENCEGOODWILL.ORG
ASOLO REPERTORY THEATRE O N E O F A M E R I C A’ S L E A D I N G P R O F E S S I O N A L T H E AT R E S
NOVEMBER 14-DECEMBER 28 PREVIEWS NOVEMBER 11, 12 & 13
941.351.8000
ASOLOREP.ORG
WHERE’S THE
MONEY? WEALTH IS MOVING INTO SARASOTA FASTER THAN ALMOST ANY OTHER PLACE IN THE COUNTRY. HERE’S WHO’S COMING—AND WHY. BY RICH RESCIGNO | PHOTOGRAPHY BY EVERETT DENNISON
A warm, sunny climate and low taxes attract the affluent to Sarasota.
20 BIZ(941) NOVEMBER | DECEMBER 2014
Wealth voyeurism is a wonderful thing, at least for the media industry. Consider the popularity of the annual Forbes lists of the world’s richest people (current champ: Bill Gates, with $76 billion), TV’s long-running Lifestyles of the Rich and Famous, the movie The Wolf of Wall Street and the torrent of newspaper, magazine, and Internet articles on rich athletes, actors, comedians, singers, hedge-fund chiefs, CEOs, politicians, investment bankers, lottery winners and heirs, preferably misbehaving ones. Sarasota has its share of notable rich, including mega-author Stephen King, TV reality-mayhem king Jerry Springer, entertainer Rosie O’Donnell, political gurus Mary Matalin and James Carville, baseball star Joey Votto, and investor Jeffrey Vinik, noted for owning the Tampa Bay Lightning hockey team and for recently tearing down two adjacent waterfront mansions on St. Armands Key worth almost $8 million to make way for something, presumably, much less confining. The typical person of wealth in Sarasota, however, is much more likely to be a millionaire-nextdoor type who built and sold a small business, had a lucrative career as a corporate executive, or simply did well in some profes-
sion and then moved here for a life of balmy temperatures and happy anonymity. How many wealthy—‑or in Wall Street’s tortured parlance, highnet-worth—‑individuals live here? According to Phoenix Marketing International, a Rhinebeck, N.Y., firm that tracks affluence trends, the North Port-Sarasota-Bradenton metropolitan statistical area has 17,005 millionaire households, which it defines as those with at least $1 million in investable assets, not counting real estate or employer-sponsored retirement accounts, such as 401(k)s. And 2,450 of these have $5 million or more. Based on housing prices, income and other factors, Biz(941) estimates that Sarasota County probably accounts for about 60 percent of each group. And Phoenix’s definition is conservative; other wealth watchers include sponsored retirement plans and properties (except primary residences) in measuring assets. Doing that would balloon the numbers significantly. In any case, there are a lot of well-off folks in Sarasota, and many are here because of a powerful national trend.
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IKE WATER, ARMIES AND POLITICIANS, money seeks the path of least resistance. With no tax on income, estates, capital gains, dividends or interest, and a homestead tax break on primary homes, the Sunshine State attracts a flood of greenbacks from the moneyed. In fact, from 1992 through 2011, Florida benefited the most of any state from a net shift of $2 trillion in adjusted gross income that took place across the United States, says Travis Brown, author of the book How Money Walks and proprietor of HowMoneyWalks.com, a website that details these flows. Florida’s take, Brown calculates, was $100.53 billion—about 3.5 times as much as No. 2 Arizona—mainly from people fleeing high-tax states in the Northeast and Midwest. Adjusted gross income—aka AGI—includes wages, commissions, dividends, business profits, royalties, alimony, inheritances, taxable interest, rents, bonuses, just about everything that can be considered income. It doesn’t directly measure wealth, but it underlies and creates it. “I call it working wealth, and where it goes is very important to a region’s overall economic health and its residents’ ability to build real wealth,” Brown says. During the period Brown examined in an exclusive research study for Biz(941), which included stretches of both boom and bust, Sarasota County ranked No. 4 in Florida in terms of attracting AGI on a total basis, behind Palm Beach (Palm Beach, Boca Raton), Collier (Naples, Marco Island), and Lee (Sanibel, Captiva, Boca Grande) counties. More impressive, in the entire nation, which has nearly 3,100 counties and equivalents, Sarasota ranked eighth. However, if you divide the amount Sarasota attracted by the net population growth in 1992-2011, the county emerges as No. 2 in the U.S. in wealth transfer per new resident, behind only Collier County, where Naples in particular attracts money like Kate Upton attracts men. In other words, the two counties lured the wealthiest of the wealthy, although Collier by far was the overall winner. And the statistics probably are underestimations because adjusted gross income includes only taxable items, and a substantial chunk of the income of many affluent or wealthy individuals—especially retirees—comes from municipal bonds that Uncle Sam doesn’t tax. Some of that $100.53 billion shifted to the Sunshine State because companies moved here or were started here. But the biggest part of this—precisely how much is unclear—probably came from retirees and part-time residents who list Florida as their home state to claim tax benefits. How else to
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Waterfront real estate still commands the highest prices.
explain why, combined, Sarasota, Lee and Collier counties alone attracted $26.35 billion in net AGI—only about $1 billion less than all of Texas, a populous low-tax state that isn’t a retiree mecca, compared with Florida, but, more often than not, had a vibrant economy and added hundreds of thousands of jobs during the stretch Brown looked at? Sarasota got a kickstart once the smoke from the financial crisis
began to clear. Says University of Central Florida economist Sean Snaith: “Wealth in Sarasota, Naples, Miami tends to correlate with financial assets much more than in most other parts of Florida. And the financial markets recovered a lot faster than the housing market did. Unlike the typical Jack-and-Jill retiree, who had to wait to sell a house in order to move to Florida, these folks could move here more quickly.”
THE LUXURY NICHE
IN HIGH GEAR Victor Young owns three auto dealerships: Lamborghini Sarasota, BMW of Sarasota and a Wesley Chapel Mini Cooper in Tampa, so the affluent car buyer makes up the bulk of his business. The last five years have been “interesting,” he says. He opened his Lamborghini dealership in June 2009 in the throes of the recession. Fortunately, his customer base was national and that kept the doors open. But even through 2012, customers with the money to buy a $300,000 Lamborghini (the cars start at $240,000 and go to $1.5 million and more) were sensitive to the economic pain most Americans were suffering and told him, “I have the money, but it just wouldn’t be right.” Those days are over. His local customers (90 percent of his business is in West Florida and 75 percent of
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O, WHAT DO YOU REALLY NEED TO BE CONSIDERED WEALTHY? Says Matthew Otto, a Sarasota investment adviser whose Otto Group, part of SunTrust Investment Services, oversees about $400 million in assets: “I look at high-net-worth individuals as having $3 million to $10 million or more. That’s the largest percentage of my client base. I have about 10 percent that are affluent—meaning
as little as $100,000 up to $1 million-$3 million—60 percent, high-net-worth, and 30 percent ultra-highnet worth; that’s $20 million-plus.” As for origins, “Most of our clients are from the Northeast,” says Otto. “Historically, Sarasota has attracted lots of folks from the Midwest, but I’d say more Northeast now. We’ve always drawn a lot of Canadians and Germans. But I’ve now got some large Italian
that is in Sarasota) are back, buoyed by rising business and stock portfolios. “They’ve decided to reward themselves,” he says. Through August 2014, Young’s dealerships had sold 2,000-plus new and used cars. “Business is great. Best year since 2008,” Young says, adding that Lamborghini sales are up 32 percent this year over 2013. Most of his Lamborghini orders are $300,000-plus and his best seller is the $525,000 Aventador Roadster. “There’s a twoyear waiting list for the 2014 Huracan, and our order bank is full,” he says. Young’s BMW sales are up 23 percent year over year. And for both brands, buyers are getting younger. Young says far from being retired, his clients, many in the medical and technical fields, moved to Sarasota to be near their parents or grew up here, went to college and came back. “The luxury segment is growing,” he says. - SUSAN BURNS
clients; they’re fleeing Europe and its underlying economic problems. They love Sarasota; they love Florida. And another trend we’re beginning to see is people coming from the West Coast, Beverly Hills, L.A. My guess is that’s because of the unfriendly tax environment in California,” where the top marginal state income tax rate can be 13.3 percent for the very wealthy. How much does it take for Sarasotans
to feel comfortable in retirement? “Five million dollars now seems to be the number that lets people think that they can get through it the way they want to,” says Martin Kossoff, president of Kerkering Barberio Financial Services in downtown Sarasota. “That number has gone up as the Fed has pushed down interest rates.” Indeed, $1 million invested now in decent-quality
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THE LUXURY NICHE
FIVE-STAR DINING Chef Jeremy Hammond-Chambers, who made a name for himself in some of New York’s top restaurants, exchanged his restaurant chops back in 2007 for catering to Sarasota’s ultrawealthy. His company, Innovative Dining, specializes in private, mostly home-based catering, and business is sizzling. “We’ve grown exponentially,” he says. “In the first three years, my business doubled. Each year after that it’s been up 25 percent. This year we’re going to do 50 percent to 60 percent more.” Hammond-Chambers initially moved to Sarasota in 2006 to open Cork restaurant on St. Armands Circle and then discovered an unfilled niche of private dining in homes, mostly along Longboat
municipal bonds might produce $40,000$45,000 a year in taxfree income; 20 years ago, it would have generated $70,000$75,000. And that doesn’t figure in the corrosive effects of two decades of inflation. Still, Otto says, these days, “Typically, you have a retiree who’s happy with a burn rate of 4 percent. If he has $5
Key and Casey Key. His clients, accustomed to five-star hotels and restaurants around the world, want the same top-notch experience in their homes when they come down for a week to relax with family. Hammond-Chambers sets up an all-day catering operation in their kitchens, creating custom breakfasts, lunches, predinner cocktail hour drinks and hors d’oeuvres, and dinners for the owners, their children, grandchildren and good friends. The cost for a week of these meals? $35,000. He also flies to clients’ Northern homes and is beginning to handle their weddings and corporate events as well. He agrees that Sarasota is attracting more wealthy clients. “It’s a little oasis,” he says. “What is considered wealthy has gone up. It used to be $8 million to $20 million. Now it’s $200 million
million, he’s perfectly happy to live off $200,000 a year of that and have us grow his total portfolio enough to offset inflation and preserve his capital. The net return number we target is 7 percent, 8 percent. Hit that most of the time and, even if bad things happen, you’ll be OK over the long term.”
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I
to $300 million. Once you start attracting these kinds of people, you attract more. They sit on boards together; they socialize together. They’ll have an annual board meeting in Sarasota and the other members see what we have down here and say, ‘This place is fantastic.’” Sarasota’s wealthy are not pretentious, he says, and they like that Sarasota isn’t, either. “People come here and switch off. They close the gates and just enjoy themselves. Naples and Palm Beach are competitive environments. It’s all who can have the biggest house and put on the biggest parties, like the Real Housewives of Beverly Hills. The wealthy who come here are not like that. I work 80 to 100 hours a week, and working in that environment would drain me.”- SUSAN BURNS
N MANY CITIES, CERTAIN LOCALES— CHELSEA IN LONDON, LAKESHORE DRIVE IN CHICAGO, FISHER ISLAND IN MIAMI— SCREAM “EXPENSIVE.” Sarasota is more eclectic; pricey homes can be found in many neighborhoods, although waterfront properties predominate. Many of today’s buyers aren’t that interested in huge houses of, say, 8,000 or 9,000 square feet or more. But they’re not minimalists, either; 5,000 square feet is fine. The luxury market’s strength is even reviving downtown condo construction, moribund since the real-estate crash. Among the projects are Sansara and Jewel towers, where it will be easy to drop a million and a half or two mil on a unit.
The wealthy in Sarasota and Manatee prefer a quieter, laid-back lifestyle.
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NE OF SARASOTA’S PARADOXES IS THAT, WHILE WEALTH ABOUNDS HERE, NEEDINESS DOES, TOO; 12.4 percent of the county’s residents earn so little that their incomes are below the federal poverty line. And 51 percent of its schoolchildren, notes Teri Hansen, CEO of the Gulf Coast Community Foundation, qualify for subsidized or free breakfasts, compared with about 20 percent nationally. Offsetting this, somewhat, is the region’s unusually
robust charitable community—one of the largest for any county of its size in the United States and one particularly attuned to societal problems and the arts. As of its last audit, the Gulf Coast Community Foundation had $274 million in assets; the Community Foundation of Sarasota County had just over $273 million. The only larger such institution in Florida is the Community Foundation for Northeast Florida in Jacksonville, which has about $328 million, but draws from a population over twice as large
as Sarasota County’s 386,000. Hansen attributes the generosity of the wealth community here, in part, to the “I75-corridor syndrome,” one of the highways used by motorists driving to Sarasota from America’s heartland. “We have a lot of people from Cleveland, other parts of Ohio, Michigan, Indiana—the whole Midwest, where there’s a very deep tradition of giving,” she says. The philanthropic effort here also benefits from a sense of urgency “because many of our donors
are in their 80s or 90s; they know that their time is limited. These people want to leave some sort of meaningful legacy.” Her counterpart at the Community Foundation of Sarasota, Roxie Jerde, says: “Many people who come here, whether full- or parttime, do so because there’s a real sense of place and community; Sarasota has much more to offer than tennis, golf and beautiful beaches. The more you feel a sense of community, the more you’re willing to support that community.”
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THE LUXURY NICHE
Many second homes are retreats for extended family gatherings.
PAYING FOR PRIVACY Thank Edward Snowden for a boost in Klaus Duell’s IT security business. Duell, a German native and an IT security expert, is the CEO of Pretioso (which means “for the valuable” in Latin), which provides data protection for companies. He moved to Anna Maria from his native Germany last February for the lifestyle, traveling back to Germany as needed. But after Snowden’s 2013 NSA leak showed just how much U.S. authorities pry into online accounts and communication, the number of wealthy U.S. citizens who wanted Duell’s services grew. Germany, he says, has some of the highest IT protection standards in the world, and when data is hosted in Germany it is safe from the scrutiny of the U.S. government. To capture this part of the business, Duell launched It’s Ger in Manatee County this year, which sells high protection services to individuals and companies. All data resides in Germany, which, he says, keeps it out of reach of U.S. authorities. His clients are extremely affluent, sometimes with a net worth of up to a billion, and they want data security no matter where they are or what they’re using. “It’s a special group,” Duell says. “Most are American, and they are very well educated. If you’re wealthy, you’re threatened more, and they don’t want to accept that the government can look into every mail account.” So far, Duell has signed up 15 clients in Sarasota and Manatee who want their information hosted on his servers and on private clouds in Germany. They pay anywhere from $100 a month to $15,000 a month. There is wealth in this region, he says, and his business will grow as long as the affluent are concerned about the safety of their data. - SUSAN BURNS
C
AN SARASOTA BUILD MORE HOMEGROWN WEALTH? Sure, if it can create more goodpaying jobs and a more diverse economy, two things it’s tried to do for decades. While the county’s jobless rate, as of October, was 6.2 percent (it was near 12 percent in 2011), a lot of the available work is in low-wage service industries. The median household income in Sarasota County in 2013 was $48,900, versus $52,100 for the entire United States. As noted, that figure doesn’t say much about the true income of wealthy individuals with lots of tax-free money coming in, but it does say a lot more about the typical worker. However, some occupations pay very well here, particularly in health care. Given the county’s demographics—about a third of the population is 65 or older—Sarasota, to a physician, is pretty much what Las Vegas is to an Elvis impersonator. General internists, on average, made $246,690 last year in the North Port-Sarasota-Bradenton metropolitan statistical area, according to the U.S. Census Bureau, way above the national level of $191,520, CONTINUED ON PAGE 28
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MANATEE RISING Manatee County doesn’t attract the same numbers of affluent as does Sarasota County, but the landscape is changing. Between 1992 and 2011, Manatee County ranked seventh statewide in terms of attracting adjusted gross income and 45th nationally out of 3,100 counties measured by Travis Brown of How Money Walks. Wealth adviser Gardner Sherrill, who moved to Manatee County in 2000, says the affluent market is growing in Manatee but in specific areas. “Manatee is still an old Florida town,” he says. “Our wealth is much quieter.” Perhaps for that reason, quiet, quaint Anna Maria is top on his list for wealth concentration. But the area north of Manatee Avenue in Bradenton, University Park Country
Club, Lakewood Ranch and the neighborhood around IMG Academy—think about all those families spending $50,000 to $65,000 a year on tuition to turn their kids into tennis stars—all attract wealthy newcomers, he says. “I’m amazed at the amount of wealth. Ten million used to be a lot of money. Now you see multiples of $10 million. They are the minority, but they exist,” he says. “People who have $1 million now are almost apologetic because they’re surrounded by so much wealth.” Lakewood Ranch is one of the communities changing Manatee’s demographic profile. The average household income is $120,000, according to Jimmy Stewart, the vice president of sales at LWR Communities LLC. Stewart has seen
home sale prices rise this year to an average of just over $500,000. Part of this came from a couple of huge multimillion-dollar sales in the pricey Lake Club neighborhood last summer, but even removing those sales, the average sale was $470,000-plus. “Year over year, 2013 compared to 2014, the average sale price has increased 24.3 percent,” he says. The average age—45—of Lakewood Ranch residents is younger than Sarasota and Manatee, too. Some of the new wealth is due to the Premier Sport Campus, which introduces new people with families to the area, he says, and he notes that visitor center surveys are showing a 6 percent increase from 2013 in people who want homes between $400,000 and $500,000. - SUSAN BURNS
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Downtown Sarasota’s skyline has drawn in new residents who like the urban feel and the arts.
CONTINUED FROM PAGE 26
and general surgeons averaged $227,420, pretty much in line with the $230,540 national mean. When it comes to attracting jobs, however, Sarasota has several disadvantages. For example, there’s no great research university, like a Stanford or MIT, to foster high-tech businesses. And business travel can be a challenge because of the paucity of direct flights to major cities. In addition, some businesspeople outside the region view the Sarasota area unkindly because of its emphasis on “smart” or controlled growth, which they view as anti-growth. Manatee County has been a happy beneficiary of this perception. Sarasota does have a couple of great advantages, however; the beauty of its coastline, a relatively modest cost of living, the growing dynamism of its downtown— over the past three decades, it’s
undergone a Joan Rivers-grade facelift, but one that actually succeeded—and its reputation as a center for the visual and performing arts. Over the years, these virtues have drawn a number of companies here, in a roundabout way. Mark Huey, head of the Sarasota Economic Development Corp., regularly talks with CEOs from foreign countries who are considering moving parts of their operations here. “The common thread is that each of them has a second home here,” he says. The EDC has had some success stories. It takes credit for 29 projects since 1999 that it ultimately expects to add a net 2,185 jobs to the economy and already have added almost 1,700. But many jobs tend to be in the low-paying tourism and service industry. Huey would like to see more companies like Sarasota’s
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Voalté, which makes hospitalcommunications systems based on smartphones, where the average salary is $75,000; or a company like Biolucid, a little start-up with a light-filled workplace, a talented, youthful staff of 30, alluring business prospects and even techdom’s signature toy—a foosball table that employees can use in their free time. Biolucid’s designers, some of them graduates of the Ringling College of Art and Design, sit at workstations, creating digital art for the company’s core products— medical-visualization programs and mobile applications. The bad news is that it would take thousands of BioLucids to generate economic value equal to what imported wealth now provides. The good news is that in the new interconnected, digitized global workplace, many companies can operate successfully from just about anywhere—giving alluring places like Sarasota a big advantage in attracting people bent on building great enterprises and great wealth. And there’s unlikely to ever be a shortage of them. No private individual is likely to ever be as rich as John D. Rockefeller, whose fortune, at its peak, might have exceeded $650 billion in current dollars. But someone will always be trying to catch up with him. ■ Business journalist Richard Rescigno, who first visited Sarasota 35 years ago and now lives here, is a former managing editor of Barron’s. (This is an updated version of a story that first appeared in Sarasota Magazine.)
Industry
Snapshot WE ASKED MARKET LEADERS FOR THEIR 2014 PROGRESS REPORTS. BY COOPER LEVEY-BAKER
Banking
Joe Meterchick REGIONAL PRESIDENT OF CENTRAL-WEST FLORIDA, PNC FINANCIAL SERVICES Q. WHAT’S ON THE HORIZON FOR SOUTHWEST FLORIDA? Our economists say U.S. GDP growth this year should be about 2.4 percent, maybe a little higher, with unemployment down
to 6 percent by the end of the year. Southwest Florida is probably on pace to grow at a higher level. People are moving back to this area again, jobs are being created, and that boosts housing. We’ve got great universities and the elderly population; that’s a bright spot for us. Florida in general is acquiring people, the season lasts longer and more people are living here full-time. Q. CHALLENGES? We have pockets of foreclosures. Hopefully a lot of that is over-
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come by the employment gains. Q. WILL INTEREST RATES GO UP? It is a great time to be borrowing and the supply is there. Our commercial lending increased almost $3 billion from Q3 to Q4 in 2013, up to $117 billion total. But the demand from businesses remains limited. Our most recent survey of small and mid-sized business owners in Florida found that only 12 percent expect to take out a new loan or line of credit in the next six months. We don’t know
how long the rates are going to last, but like anything else at some point they’re going to have to move. The Fed is saying another year or so. If nothing else, they’re talking about it; if you go back a couple years, nobody was. Q. HOW ARE CHANGING TECHNOLOGIES AFFECTING THE WAY YOU DO BUSINESS? About 40 percent of our customers use nonbranch channels, online or mobile, and 25 percent of our deposits are mobile or ATM. That’s versus 14 percent a year ago.
Tourism
Elliott Falcione EXECUTIVE DIRECTOR, BRADENTON AREA CONVENTION AND VISITORS BUREAU Q. HOW DO 2014’S NUMBERS LOOK? The summer season was up about 6 percent from a year ago and we’re expecting the fall season to be up about 4 percent. We’re focusing on diversifying. Our two biggest segments are leisure and sports, and we’re really trying to showcase our niche markets: agritourism [think organic farm and vineyard tours], ecotourism, culinary tourism. That has allowed us to have one of the longest stay averages in the state: 7.2 nights. The state average is 4.1. Q. WHERE ARE VISITORS COMING FROM? We’re seeing a stronger influx of Europeans, and we attribute that to working the United Kingdom and German markets hard. There’s
good pent-up demand all over Florida and a big part of that demand is due to the ongoing increases in the Visit Florida budget. Visit Florida now has its biggest budget in history, a bigger budget than the state of California’s tourist office. And Visit Florida has offices all over the world. They’re able to create awareness in China, India, Russia and South America. Q. WHAT DOES MANATEE COUNTY NEED TO GROW TOURISM? We’re excited to add some bed stock. We’re working hard to pursue a hotel in Palmetto, and we are on the cusp of going out for a competitive process to tell hotel developers we’re ready for a hotel next to the convention center. We’d like to add some more beds in the urban core and in Lakewood Ranch, as well; hopefully 800 to 1,000 rooms added to the community. That’s important because with all these unique sports facilities, we need to have enough beds to accommodate all the athletes and their families on the same weekend.
Q. COULD PORT MANATEE BECOME A CRUISE SHIP HUB? We are collaborating with [port director] Carlos Buqueras about the possibility of bringing in a cruise ship. It would redefine north Manatee County.
Real Estate
range. The euphoria of buying doesn’t seem to be there. When the market turned, you saw a lot of people just crazy jumping into it, and price appreciations were easier to garner because you had gone down so far. It’s just a much more normal
“THE EUPHORIA OF BUYING DOESN’T SEEM TO BE THERE.” -ROGER PETTINGELL
Roger Pettingell REALTOR AND LUXURY WATERFRONT SPECIALIST, COLDWELL BANKER REAL ESTATE Q. HOW HAS 2014 BEEN SO FAR? I sold $62 million last year, and I sold $51 million through July—that looks good to me. Last year, you saw much bigger price increases. Now it’s more flat. I would figure the increases to be more in the 5 percent to 10 percent range, whereas last year it was in the 10 percent to 20 percent
market. There’s more of a balance between buyers and sellers. It’s harder to be a realtor in that kind of market, because when it’s slanted to one side or the other, it’s easier to be selling. Now both sides feel they’re right. Q. WHO’S BUYING? Our international market has dwindled to mostly Canadians, some English and some Germans. We had broadened out to a bigger population of Europeans in the early 2000s. You saw a lot of interest from people in Spain
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INDUSTRY SNAPSHOT
in the mid-2000s, but it’s more difficult for them to get here now. If you were going to compare us to Miami, where you have this flood of Brazilians and Russians and Chinese, we don’t have that, but we have a strong group of Canadian buyers and Midwesterners. Q. HOW WILL THE NEW DOWNTOWN CONDO CONSTRUCTION AFFECT THE MARKET? At first blush, you could say that it looks like it’s being overbuilt; [but] only a certain number are being approved and moving forward. The market’s not strong enough to support all of them coming in at the same time. It’s going to open up opportunities for some of the waterfront homeowners who are ready to be in the downtown area. They can get new construction with the best new amenities and finishes. Q. DOES THE HIGH NUMBER OF CASHONLY INVESTOR SALES CONCERN YOU? It gets rid of things like short sales and bankowned properties that give a stigma to the market. You don’t want
the blight of unkempt houses in the area. Englewood had a bunch of bank-owned lots for $20,000; that certainly didn’t help us.
Manufacturing
Jennifer Behrens Schmidt PRESIDENT AND OWNER, ATLANTIC MOLD & MACHINING CORP., AND PRESIDENT, SARASOTA MANATEE MANUFACTURERS ASSOCIATION Q. MANUFACTURING EMPLOYMENT IN SARASOTA AND MANATEE HAS RISEN 4.8 PERCENT. ARE ORDERS UP? Area manufacturers have seen a good, solid year. I don’t think there’s an increase in productivity and production at a breakneck speed, but it’s been steadily improving. Q. LARGE U.S. COMPANIES ARE CONSIDERING BRINGING
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BACK PRODUCTION TO THE U.S. FROM CHINA. IS THAT TRUE IN OUR REGION? We continue to see an increase in domestic sourcing. Twenty years ago, the massive trend was offshoring, but within the last five or seven years, we’ve started to see reshoring become more of a focus for manufacturers. Companies are recognizing the advantages that come with sourcing domestically. It’s difficult to collaborate on a project when you’re 12 time zones apart, and many of the companies that offshored, especially to the Asian market, suffered serious quality problems. Q. WITH 255 UNFILLED MANUFACTURING JOB OPENINGS IN OUR REGION THIS FALL, IS FINDING QUALIFIED WORKERS A HUGE CHALLENGE TO GROWTH? Only now are local, state and federal governments and the schools finally looking at this. Sarasota County Technical Institute opened a precision machining program last school year, and it was their first manufacturing-based training
program. The first body of 16 students who went through the program graduated in
“Twenty years ago, the massive trend was offshoring, but within the last five to seven years, we’ve started to see reshoring become more of a focus.” -JENNIFER BEHRENS SCHMIDT
June with 81 percent job placement. Local manufacturing companies were thrilled to have a pool of workforce to draw from. Q. WHAT POLICY CHANGES COULD GOVERNMENT MAKE TO ENCOURAGE MORE MANUFACTURING? We are the only state in the Sun Belt and one of only a handful in the entire country that charges a tangible property tax on manufacturing equipment. In manufacturing, you have a lot of capital
assets and you’re paying tax on that every single year. To make a blanket elimination of that would require a statewide amendment, but local governments can choose to create tax abatements. Sarasota County has a tangible property tax abatement for companies that are looking to expand or grow. That doesn’t help the businesses that are already here, but it’s a step in the right direction.
PRESIDENT AND CEO, SARASOTA MEMORIAL HOSPITAL
for Sarasota Memorial. For the first part of this year, our emergency room was still seeing roughly the same percentage of uninsured as the last five years— about 20 percent, or 8,500-9,000 uninsured patients a year. Where we have seen the impact is in quality metrics the act put in place. It has everybody focused on quality in a different way because the Centers for Medicare & Medicaid Services looked at different things—specific infection rates and basic customer satisfaction-type things. The new metrics have allowed us to better benchmark our performance against other hospitals. We’ve put a number of best practices in place to prevent infections and improve the overall patient experience.
Q. HOW HAS THE AFFORDABLE CARE ACT AFFECTED SMH? We’ve not seen huge financial issues yet. But one of the promises was you’ll see fewer indigent patients. Parts of the country have seen some improvements, but none of that has come around
Q. DO YOU EXPECT TO SEE COST SAVINGS IN THE FUTURE? Going forward, it’s going to be very challenging because our payments are going to be reduced through Medicare. When you have a predominately Medicare hospital in an area the age of Sarasota, that’s going
Health care
David Verinder
to negatively affect us. The theory was you would start having fewer indigent patients and that would offset that, but the math doesn’t hold. Using whole numbers, say 60 percent of our business is Medicare. I’m going to take a reduction on 60 percent of our business, and we’ll have fewer indigent patients. I’d rather just get to keep my 60 percent. And Florida, along with a whole host of other states, has elected not to pursue the expansion of Medicaid. Our uncompen-
“Sarasota Memorial will see a $150 million reduction in federal revenue through 2022.” -DAVID VERINDER
sated care costs top $87 million each year. If the state expanded coverage, those costs would decrease, because we would see a decline in our number of uninsured patients.
But Florida hasn’t expanded coverage yet, so Sarasota Memorial will see a $150 million reduction in federal revenue through 2022, without a commensurate decrease in the number of uninsured. We are certainly going to continue to promote the expansion of coverage to everyone in the state of Florida. Q. YOU OPENED THE BIG NEW TOWER LAST YEAR. ARE THERE ANY OTHER PHYSICAL IMPROVEMENTS THE HOSPITAL NEEDS? A new rehab hospital. We have a complete rehab unit in the hospital right now, but that unit is about 30 or 35 years old. We’re going to tear down the Retter building [at our Sarasota campus] and build a brand-new, comprehensive, state-ofthe-art rehab hospital. It will take two years to design and build the facility, with completion in 2016. Q. OTHER CHALLENGES? There’s a shortage of physicians nationally. One recent study found that Florida faces greater challenges than other states because it averages a higher
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INDUSTRY SNAPSHOT
number of physicians who are 60 years and nearing retirement.
The Arts
Joseph McKenna PRESIDENT AND CEO, SARASOTA ORCHESTRA Q. ARE PEOPLE SPENDING ON THE ARTS AGAIN? Our 2013-2014 season was exciting. The economic landscape is improving, and that makes it more comfortable for organizations to continue their cultural and entertainment outreach. The other huge factor was the appointment of our new music director, Anu Tali. And we’ve taken a more strategic approach to our programming. We’re an orchestra here to serve the entire community, not just people who love a certain type of orchestral music. We’re very Main Streetoriented in trying to
make the organization friendly to the whole community. Q. IS THAT AN ATTEMPT TO ATTRACT YOUNGER AUDIENCES? Whether we like it or not, we live in a world where you can consume things when you want to. Cultural organizations always want people to have social interaction, but the programming profile has to change to connect with different kinds of patrons. The
“The bayfront can be an economic incubator, a cultural incubator.” -JOSEPH MCKENNA
demographic change is accelerating before our eyes, and it was only further compounded by the economic situation. Over the past five years, participation in our education program has increased 63 percent. This year alone we’re seeing an 8 percent increase, and
34 BIZ(941) NOVEMBER | DECEMBER 2014
we now have over 300 students participating in the program. We also began offering programs that are one hour in length so that people who are busy can attend in a way that works for them. All of our chamber music programs are 75 minutes. We see families participating in ways we hadn’t seen previously. Last season, more than one-third of our ticket buyers purchased for the first time. And our pops series in particular is a great access point for new audiences. This season, pops subscriptions are already up 145 percent since 2011-2012. Q. ANY BIG NEW OPPORTUNITIES FOR THE ARTS ON THE HORIZON? The thing that piques my curiosity is the renewed discussion about the potential of the bayfront as a resource for the community. Visit Sarasota County has spearheaded the effort with Bayfront 2020. The bayfront can be an economic incubator, a cultural incubator. One of the challenges we have going forward is this: How do we put together the cultural
facilities that we need to present the best of what our community has become?
Philanthropy
Roxie Jerde PRESIDENT AND CEO, COMMUNITY FOUNDATION OF SARASOTA COUNTY Q. ARE PEOPLE BACK TO DONATING AS MUCH AS THEY DID BEFORE THE RECESSION? We’ve had a terrific run the last couple of years, with an increase in giving, and our portfolio is partly invested in equities, so it’s been nice to have some growth there as well, which means there’s more money for philanthropy. Revenue at the foundation increased from $22.4 million to $40.6 million between 2011-2012 and 2012-2013 and assets increased from $194.5 million in 2012 to $273 million in 2014. We’ve seen not only
an increase in funds, but our current donors who care so much have given in extraordinary ways. That has to do with how you feel personally, but also we’re working hard with donors to show the difference their philanthropic gift can have. If they can see their philanthropic investments making a difference and making an impact, they want to give more. Q. ARE YOU SEEING AN INCREASE IN SMALLSCALE GIVING? With Season of Sharing, the average donation is $75. We get $4 contributions to thousands of dollars, and we had an unprecedented $2 million last year, with 3,200 people donating from all different levels. If people see a compelling need, they say, “Maybe my dollar will make a difference.” Q. WHAT ARE THE BIGGEST LOCAL NEEDS YOU SEE TODAY? Fifty-one percent of our 42,000 students in Sarasota County are on free or reduced lunch—that’s a stunning statistic for one of the wealthiest counties in Florida. It makes you realize there are a lot
of working poor people here. The workers of our community are hardly getting by.
Construction
Jack Cox OWNER, HALFACRE CONSTRUCTION COMPANY Q. HOW HEALTHY IS THE COMMERCIAL CONSTRUCTION MARKET? Commercial construction follows residential, so if residential is strong, commercial will follow that. It’s usually about a year lag behind. Residential was really strong last year and it’s flat this year, but the commercial side is starting to pick up. I see next year being kind of flat. A lot of the big commercial projects that are still going on are tied to government or government funding, rather than just private industry. Even projects at IMG Academy, they’re
receiving millions of dollars from the state; and the Benderson rowing project, that’s all state and county funded. Q. ARE OTHER, LESS WELL-KNOWN INFRASTRUCTURE PROJECTS IN THE WORKS? Now that property values are ticking up, Sarasota and Manatee are receiving more tax dollars, and that’s driving capital improvement projects. In August, we broke ground on a large infrastructure project, a $26-million road improvement project in Charlotte County. We expect that to be completed in 18 months. Q. HOW DOES SOUTHWEST FLORIDA COMPARE TO THE REST OF FLORIDA? There are other areas that are much better. They’re going gangbusters in Tampa. Orlando’s very strong. Miami’s very strong. Our area was hit worse financially than other areas. But the condominium market’s coming back. It’s nice to see three tower cranes in downtown Sarasota. The biggest challenge is our customers’ ability
to get financing. The underwriting process on bank loans is excruciating. Most of
“My biggest competitor was the empty building; it was so cheap.” -JACK COX
our customers have used cash. Now we’ve got a couple working with banks and banks are starting to lend again. Q. WHAT TYPES OF PROJECTS ARE PROMISING? We’re starting to see some more in manufacturing, large warehouse-type projects. One of the problems is so many buildings became foreclosures. My biggest competitor was the empty building; it was so cheap. We’ve been renovating those buildings to fit customers’ needs, but people are starting to build buildings again now that the inventory –all that stressed commercial property— is off the market ■
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BANKING OPENER TO COME
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FINANCIAL INSTITUTIONS FULL SERVICE BANKING IN SAR ASOTA AND MANATEE ADVER TISING SECTION
TOP FINANCIAL INSTITUTIONS
FIRST FEDERAL BANK
PERSONAL SERVICE FOR YOUR BUSINESS. FOUNDED 50 YEARS AGO in a small town in North Florida, First Federal’s hometown values have remained consistent through the adverse times in the banking industry. First Federal’s officers believe in taking the time to get to know their customers in order to provide them with tailored banking solutions. FFB offers many products and services that provide customers with time-saving and cost-cutting ways to manage their finances. The Lockbox services for homeowner and condo associations deliver customized online payment options, quick and easy accounting software imports and better audit controls. In addition to streamlining your payment process, you’ll also get faster access to cash because payments are made directly to your accounts. Interested in Lockbox services or other business products? Call today to learn more. Tammy Zuknick, Carrie Santostasi and Eric Peters.
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RACE DAY INFORMATION Opening Ceremony Starts at 8am 5K | ½ Mile Dog Walk | ½ Mile Fun Run For more details or to register online visit www.AchievaRunForGood.com. Questions: runforgood@achievacu.com or 727.431.7362
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ADVER TISEMENT ADVER TISING SECTION
TOP FINANCIAL INSTITUTIONS
FIRST BANK A PERSONAL TOUCH.
First Bank has enjoyed a legacy of strength, agility and longterm perspective for over 100 years and is one of the largest family-owned and led banks in the nation. Above: Anne Lee, retail banking president.
BUSINESS OWNERS NEED TRUSTWORTHY PARTNERS. At First Bank, one of the
“THE EXPERTS REALLY LISTEN AND UNDERSTAND THAT NEARLY ALL BANKING IS PERSONAL.”
largest and oldest privately owned banks in the country with eight offices in Manatee County, the local experts have years of banking experience to search out the very best financial solutions that will save business owners money, reduce their risk and improve their cash flow. They really listen and understand that nearly all banking is personal. Choosing a trustworthy banking partner for your business can be difficult. Here are six tips: First, look for a bank that has local, experienced business bankers available who understand your business and how it operates. Ask if the bank offers customized comparisons to provide you with a clear picture of how you can save money, be more efficient and reduce risk and improve cash flow. Be sure to find out if the bank is a preferred small business administration (SBA) lender that can expedite your loan requests. Ask if they offer convenient online access for reports, activity
and alternative processes for making deposits, as well as flexible products and services to meet your unique business needs. Beware of banks that have a “cookie cutter” mentality when it comes to loans and lines of credit. And finally, ask if the bank is immersed in the communities they serve. This is a great indicator of the commitment they have to the customers, location and community. If you are ready for a bank that truly partners with you and listens with a personal touch, contact First Bank’s business banking expert, Sally Beyer, at (941) 345-1159 or any branch manager at any First Bank location.
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2412 Cortez Road W. Bradenton, FL 34207 (941) 756-5127
7051 Manatee Ave. W. Bradenton, FL 34209 (941) 792-9086
415 53rd Ave. W. Bradenton, FL 34207 (941) 756-5505
9819 Cortez Road W. Bradenton, FL 34210 (941) 795-3885
4601 Manatee Ave. W. Bradenton, FL 34209 (941) 708-0314
3005 53rd Ave. E. Bradenton, FL 34203 (941) 751-5457
38 BIZ(941) NOVEMBER | DECEMBER 2014
5390 Gulf of Mexico Drive Longboat Key, FL 34228 (941)383-6847 995 N. Haben Blvd. Palmetto, FL 34221 (941) 722-1058
ADVERADVER TISINGTISEMENT SECTION
TOP FINANCIAL INSTITUTIONS
IBERIABANK
EVERY STRONG BUSINESS HAS A GREAT BANK BEHIND IT.
Helping you grow your business with innovative financial products delivered by a talented team of experts. Above: IBERIABANK’s Main Street office.
SUCCESSFUL BUSINESS OWNERS
IBERIABANK INCORPORATES THE LATEST TECHNOLOGY, WHILE MAINTAINING A PERSONALIZED APPROACH.
understand the importance of having a strong relationship with a banker who can anticipate their needs and provide solutions to help them thrive and prosper. This is exactly what many business owners along the Gulf Coast are saying about their relationship with the professionals at IBERIABANK. Rich in tradition and culture, IBERIABANK was founded over 127 years ago in New Iberia, Louisiana. Today, IBERIABANK has grown to $15.3 billion in assets as of June 30, 2014 and provides banking, mortgage, title insurance and wealth management services. Locally, the IBERIABANK leadership team has extensive market knowledge and experience to respond quickly to clients’ needs. IBERIABANK uses the latest technology, while maintaining a hands-on, personalized approach. The benefits of switching to IBERIABANK are endless. From simple checking accounts to
complex credit needs, the team looks forward to the opportunity to discuss how they can help your business. For more information, stop in a local branch or visit iberiabank.com. IBERIABANK stock is traded on the NASDAQ Stock Exchange under the symbol IBKC. Member FDIC. Equal Housing Lender.
(800) 968-0801 | IBERIABANK.COM
5310 E. S.R. 64 Bradenton, FL 34208 (941) 487-3050
5844 14th St. W. Bradenton, FL 34207 (941) 758-7800
2815 University Parkway Sarasota, FL 34243 (941) 355-5313
1718 Main St., Sarasota, FL 34236 (941) 363-3180
6351 Manatee Ave. W. Bradenton, FL 34209 (941) 795-4211
8181 S. Tamiami Trail Sarasota, FL 34231 (941) 552-3724
3323 17th St. Sarasota, FL 34235 (941) 951-1018
3600 S. Tuttle Ave. Sarasota, FL 34239 (941) 925-1050
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ADVER TISING SECTION
TOP FINANCIAL INSTITUTIONS
MANATEE COMMUNITY FEDERAL CREDIT UNION SMALL STEPS TOWARD A BIG DIFFERENCE.
The 56-year-old MCFCU offers a wide variety of unique programs.
SINCE OPENING ITS DOORS IN 1958, Manatee
“MCFCU IS ONE OF ONLY THREE CREDIT UNIONS IN THE STATE TO BE CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.”
Community Federal Credit Union has grown into a well-established and trusted, five-star rated financial institution that is committed to serving the community by providing superior customer service, incredibly low interest rates, competitive banking services, and ongoing financial improvement programs and products designed to assist low-and moderateincome members. Some of MCFCU’s unique programs include Reliable Ride, a United Way partnership to help low-income families secure reliable transportation; auto loans and refinancing with some of the most attractive rates in the region; Building Better Entrepreneurs for small-business development and loan opportunities; credit building, providing avenues to improve members’ credit; financial education, ongoing financial workshops with Emerge; and CU Behind the Wheel, a free “everything auto” shopping service. Many may not be aware that MCFCU now holds the distinction of being one of only three credit unions in the state of Florida to be certified as a Community Development Financial Institution by the U.S. Department
40 BIZ(941) NOVEMBER | DECEMBER 2014
of the Treasury. Being certified as a CDFI gives MCFCU the ability to access much-needed resources to better serve its existing members, while expanding its lending capacity and product offering to the underserved population of Manatee County. MCFCU recently was granted a field of membership expansion to allow it to serve members residing physically outside of Manatee County that are interested in participating in some of its unique programming. Sherod Halliburton, MCFCU president, says, “We are excited for this field of membership expansion and have exciting plans as a result of this change. We are truly making small steps toward a big difference.”
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DESIGN ST RS
THREE WINNING COMMERCIAL RENOVATIONS. Commercial construction is back from the depths of the Great Recession, albeit not with the same flurry of intensity that residential building has taken on this year. Here are three recent commercial renovations that rate the cool factor. BY ILENE DENTON 42 BIZ(941) NOVEMBER | DECEMBER 2014
Clockwise from opposite page: In the new Scholz offices, blueprint tubes make a nifty wall divider; northern light now floods the space; the funky ’50s facade.
PHOTOS BY GENE POLLUX
all of the basic proportions are there, it’s just the wrong materials.’” Inside, the interior walls and ceilings were removed. “When we pulled the cedar paneling off, the outside of it was painted but the inside was natural. We refashioned it into the wainscoting in my office, a very sustainable way to get what I thought was a really cool look—and save money, too.”
PROJECT: STUDIO OF CLIFFORD M. SCHOLZ ARCHITECTS ARCHITECT: Clifford M. Scholz, AIA, LEED AP, FGBG, NCARB SCOPE OF WORK: Extreme renovation of the Ludwig Walpole building at 300 S. Orange Ave. in Sarasota. OBJECTIVE: To bring a 1955 building into the 21st century. “When
we got it, it pretty much looked like it did in 1955, with drop ceilings, flesh-colored cabinets and teal rugs. It was in good shape, but dated,” says Scholz.
BIGGEST CHANGE: Natural northern light now floods the building, thanks to replacing 80 percent of the northern and eastern exterior walls with glass. “A lot of times, we don’t even turn the lights on,” says the architect. A varying pattern of metal window muntins adds a contemporary look.
THE LOOK: The shape and proportion of the building, and its “funky ’50s” roofline enticed Scholz to take on the project. “In doing renos like this,” he says, “I look at solids and voids in a more contemporary fashion. I thought, ‘Oh my God,
THAT’S CLEVER: Oversized cardboard blueprint tubes were repurposed into a hanging sculpture to hide a series of bookshelves in the reception area, and to act as mailboxes for Scholz and his nine employees.
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The dilapidated Manatee River Hotel, below right, becomes a gem. Below, the carefully restored lobby.
PROJECT: HAMPTON INN AND SUITES, BRADENTON DOWNTOWN HISTORIC DISTRICT
SCOPE OF WORK: A $21 million restoration of the dilapidated, 1920s-era Manatee River Hotel, a historic landmark affectionately known as “The Pink Palace,” into the 119-room Hampton Inn and Suites.
look and feel. “It was a shame the condition it was in,” says Robert Spoto, vice president of operations for owner-operator Widewaters Hotels. “A lot of developers wanted to demo it and start over; [but] we’d just finished another historic hotel project in Kansas City, The Elms Hotel, and we knew what you get into with that. Once you make the commitment and you do it right, there’s no way a brand-new cookie-cutter hotel could have the same special feel.”
OBJECTIVE: To modernize the building while retaining its historic
THE DETAILS: Key historic components were retained—the terrazzo
DEVELOPER: Syracuse, N.Y.-based Widewaters Hotels
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lobby floor (hidden under carpet for decades), hand-stenciled beams, detail work around the exterior awnings and overhangs. “At the very top, there’s a pillar on each corner with beautiful aqua-green tile that had been painted over,” says Spoto. “As we were scraping it, it was pretty exciting to identify it. Those kinds of details cost more money, but we felt would set us apart from any other hotel in the area.” Above the lobby floor, “we pretty much did gut it because there wasn’t a lot to work with,” he says. NICE REWARDS: Business has exceeded all expectations, says Spoto. “The Hampton Inn brand has a six-month window of ‘ramp-up’ before it expects a new project to stabilize; we hit that number within two months of opening.” And last spring, the restoration project earned an award from the Florida Trust for Historic Preservation.
PROJECT: THE BEACHHOUSE RESTAURANT ON BRADENTON BEACH CLIENT: Chiles Restaurant Group ARCHITECT: Barron Schimberg, AIA, LEED AP, Schimberg Group SCOPE OF WORK: Interior renovation of the 11,000-square-foot dining room, bar, retail store, restrooms and kitchen. OBJECTIVE: Upgrade a tired, 20-year-old restaurant. “There
was no consistency to it,” says the architect, “just a hodgepodge of design decisions over the course of 20 years, very dark wood, a dark, low ceiling.” This was Schimberg’s second project for the client; his firm renovated The Sandbar on Anna Maria in 2012. THE LOOK: Faux-finished walls were painted colors of the sea. A wine wall, similar to the one installed at the Sandbar, provides drama. The ceiling is cypress; and the flooring, composed of woven vinyl strands, is by Chilewich, the
maker of high-design Chilewich placemats. “It’s almost indestructible,” says Schimberg. The architectural firm designed the tables and chairs; even though the tabletop surfaces look like real wood, they’re actually photos of wooden slats that have been imprinted onto the tables. BIGGEST CHANGE: Schimberg moved the bar from a hard-to-find location behind the retail shop. “Now when you walk in, the bar is front and center facing the Gulf. It becomes a focal point, a place where energy happens; it becomes a different restaurant,” he says. WHAT’S NEXT: Schimberg is set to start extensive renovations of The BeacHhouse exterior—adding a second-floor deck on the Gulf side and redoing the existing groundfloor deck, plus a new porte-cochere and canopy facing Gulf Drive. “It’s going to be pretty amazing. Imagine a huge pavilion with floating decks as part of the columns that hold up the roof,” he says. ■ The newly relocated BeacHhouse bar, left, and revamped dining room, below.
THE DOMINANT RESORT PLAYER IN THE REGION, FAMILY-RUN OCEAN PROPERTIES SAYS IT’S HERE TO STAY.
The Long Game BY DAVID BALL
Ocean Properties’ Longboat Key Club & Resort
lbknews.com
Mark Walsh
MARK WALSH HAS WORKED NEARLY EVERY JOB in the hospitality industry. With a father who built hotels across New England, he had no choice but to start young. At 12, Walsh was bussing tables and washing dishes. Next he was cleaning pools and mowing the grass. Handling luggage and working the front desk was a welcome promotion. “It was important to learn what all the jobs entail and the hard work it takes to create a great experience for the guest,” Walsh says.
It was a philosophy instilled by his father, Tom Walsh, who formed Ocean Properties in Maine in 1969 as a familyowned and family-run hotel operator. Forty-five years later that philosophy continues, though the business has become just a little bigger. Today, Mark Walsh, 59, and his three brothers and a sister run one of the largest privately held hotel management and development firms in North America, with more than 100 properties under ownership. Ocean Properties has long eyed the beach markets along Sarasota and Manatee counties, and it’s now a dominant player here, with recent acquisitions of marquee resorts that include the expansive Longboat Key Club & Resort and Helmsley Sandcastle Hotel. The company’s local portfolio also includes the Holiday Inn Lido Beach, Hilton Longboat Key Beachfront Resort, Lido Beach Resort, Courtyard Bradenton Sarasota/Riverfront and the Chart House restaurant property adjacent to the Longboat Key Club. It made a bid for a portion of the defunct Colony Beach & Tennis Resort, but that sale has been held up by litigation between the original developer and condo owners.
Ocean Properties, headquartered in Delray Beach, with offices in New Hampshire and Canada, has built a reputation of steady growth with aggressive hotel acquisition and development. It targets underutilized or failing properties, usually on bodies of water, across New England, the Southwest, Canada and the Caribbean. The company’s biggest presence is in Florida, where, with 30 properties, it is the largest hotel owner and operator in the state. In Sarasota, some have speculated that Ocean Properties will redevelop some of its hotels into more lucrative condos or other uses. But company officials say that’s not their business model, though some expansions are planned. And Ocean Properties won’t be selling off its properties in a few years for a quick profit, they say. Despite its size, the company is still run like a family business, and company leaders say that means keeping hotels mostly intact, investing in repairs and renovations, improving working conditions for employees and being long-term stewards in the community. That
could mean a growing Ocean Properties empire if the local market remains favorable. “We feel that Sarasota is a great area. The overall area is growing, there are a lot of positives and the beaches are great,” Walsh says. “Having said that, the hotel business is cyclical; it goes up and it goes down.” Sarasota’s tourist economy has rebounded significantly since the recession. Tennessee-based STR, which tracks hotel occupancy, room rates and supply and demand figures for the industry, reports strong increases in nearly every measurable statistic in the Sarasota and Bradenton markets, especially compared to the rest of the state and the U.S. According to STR figures, Sarasota-Bradenton hotel occupancy averaged more than 75 percent through the first six months of 2014, up from 59 percent for the same time period in 2009. Florida as a whole grew from 60 percent to about 73 percent during that same time, while the national average rose from 54 percent to about 64 percent. Spring break months of February and March this year saw occupancy rates approaching 90
Ocean Properties is the largest hotel owner and operator in Florida.
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percent in Sarasota-Bradenton, compared to about 80 percent for the state and 65 percent for the U.S. Average room rates in SarasotaBradenton also increased around $7 since 2009, and the revenue each room generated for the hotel increased about $17. But the greatest indicator of a market’s health, says STR senior vice president Jan Freitag, is supply and demand. Since 2009, the supply (number of hotel rooms multiplied by the days available) grew a fairly healthy 117,840, while the demand (number of hotel room days sold) grew by more than 432,000. “That’s a healthy increase in room demand,” Freitag says. “So it’s no surprise that someone wants to be a part of this market.” Ocean Properties officials, however, say they are concerned about the 20 percent rise in construction costs they’ve seen in the past year, as well as the potential for overdevelopment in areas like downtown Sarasota, where about
Above, Ocean Properties’ Lido Beach Resort; at right, Chart House property.
a dozen hotel and condo projects are planned. A hot local market is not the dominant factor in determining what they buy. “We are attracted to the property first,” says Andy Berger, vice president of operations. “Either it’s poorly managed and we can bring in better management, or we can bring in money to fix up the hotel. A lot of times hotels are for sale because they haven’t been well maintained. Usually we can come in, fix them up and run them better. If it’s in a great place like Sarasota, that’s even better.” Case in point is the Longboat Key Club, which Ocean Properties
48 BIZ(941) NOVEMBER | DECEMBER 2014
purchased in 2012. Berger and Walsh say they’ve spent nearly $6 million in golf course renovations plus other upgrades and new equipment just to bring the sprawling high-end resort in line with others around the state. Ocean Properties plans to expand the club with new conference space, hotel rooms, commercial space and even residential units. The company last year purchased an adjacent three-acre property that includes the Chart House restaurant and shops. The club’s previous owner’s redevelopment plans were effectively blocked by Longboat Key
neighborhood groups who complained that the project didn’t fit the island community. Walsh says he expects to work closely with those groups and Longboat Key elected officials. “We will be sitting down with the neighbors and the town and start the process of getting everybody’s input and incorporating that into some plans we can bring forward,” Walsh says. “Our goal, no matter where we go, is to try to bring something in that fits with the community and also with the surrounding neighbors. Our relationship with our neighbors and town is something we take very seriously.” A bigger test of Ocean Properties’ willingness to keep hotels operating as hotels might come from its purchase this year of
the Helmsley Sandcastle Hotel on Lido Beach for $27.4 million. The hotel, once owned by New York hotelier Leona Helmsley, was built in 1953 and has likely reached the end of its lifespan and is primed for redevelopment, says Barry Seidel, president of commercial real estate brokerage firm American Property Group of Sarasota. “They are probably running it as an ongoing hotel until they get all their ducks in a row to develop the property to something that’s going to make them a lot of money,” Seidel says. “I was just out there, and every ounce of my body tells me they are going to operate it until they can redevelop it, probably with condos.” Ocean Properties officials say they haven’t made any decisions
“We are not condo developers.”
on the property beyond routine maintenance upgrades. Berger says, “We’re a hotel company. That’s 95 percent of what we do. I’m sure if we were condo developers we would love that real estate. We are not condo developers, we are hotel people.” The company keeps its development plans close to the vest, and it doesn’t divulge business details like revenue figures and number of employees. They say that’s part of keeping the company private and familyrun, something that likely won’t change anytime soon. “We are long-term holders of real estate. We are not sellers,” Walsh says. “We’ve got hotels that my dad built in the 1960s we still own. We put more money into the projects, because we are in it for the long term. We know coming into an area that we will be there for a long time.” ■
What They Own CHART HOUSE PROPERTY, 201 Gulf of Mexico Drive, Longboat Key: purchased in 2013 for $6.2 million; more than 18,000 square feet of restaurant and commercial space on nearly three acres adjacent to the Longboat Key Club & Resort.
HELMSLEY SANDCASTLE HOTEL, 1540 Benjamin Franklin Drive, Sarasota: built in 1953 and purchased in 2014 for $27.4 million; 177 rooms; zoned for 108 condo units, though no redevelopment plans have been announced.
COURTYARD BRADENTON SARASOTA/RIVERFRONT BY MARRIOTT, 100 Riverfront Drive, West Bradenton: built in 1984 by Ocean Properties as a Holiday Inn; 150 rooms; renovated and converted to Marriott in 2009; property valued at $7.2 million.
HOLIDAY INN LIDO BEACH, 233 Benjamin Franklin Drive, Sarasota: purchased in 2002 for $13.9 million; 135 rooms. HILTON LONGBOAT KEY BEACHFRONT RESORT, 4711 Gulf of Mexico Drive, Longboat Key: purchased in 2002 for $15.2 million; 102 rooms; currently undergoing
$25 million expansion and construction of 85 new rooms. LIDO BEACH RESORT, 700 Benjamin Franklin Drive, Sarasota: purchased in 2006 for $62.5 million; 220 rooms. LONGBOAT KEY CLUB & RESORT, 220 Sands Point Road, Longboat Key: purchased in 2012 for $32 million (includes land and buildings only and not the business operations and other assets); 222 individually owned rental condos, 45 holes of golf, tennis courts and six restaurants on 410 acres; nearly $6 million in golf course improvements and other renovations completed.
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ARCHITECTS, BUILDERS & LANDSCAPERS
ADVER TISEMENT ADVER TISING SECTION
GARY SIMONE
1ST CHOICE INDUSTRIES 1ST CHOICE INDUSTRIES co-founder and CEO Gary Simone started his own construction company at age 19. Over the next 26 years, he learned the ins and outs of the industry through hands-on experience. He also learned the value of building strong relationships. In 2005, Simone, together with his brother Darrin Simone and business associate George Rutigliano, created 1st Choice Industries. In 2013 1st Choice Industries added a new specialized division, Owners Resource Group, which provides owners representation and construction consulting services, led by chief operating officer Bill Jarvis. 1st Choice is now one of the industry’s leading contractors, performing national roll-outs, minor and major remodels and new construction. Its work can be viewed locally at the Ranch Grill in Lakewood Ranch, a restaurant/bar built by 1st Choice and owned and operated by Darrin Simone and Gary Simone.
(866) 241-0070 | 1STCHOICECORP.COM | GARY@1STCHOICECORP.COM 1941 WHITFIELD PARK LOOP, SARASOTA, FL 34243
Depend on 1st Choice Industries for every phase of construction, specializing in tenant build outs, remodels and renovations of all sizes. 1st Choice Industries has a successful team of project managers, site superintendents, skilled technicians and qualified subcontractors, which is how it provides fast, hassle-free, high-quality, within-budget and ontime project completions.
As a premier provider of construction and professional business solutions, 1st Choice Industries offers comprehensive services that set it apart from its competition—and keep you ahead of yours. We support clients across a broad range of industries, including retail, restaurant, hospitality, medical, banking and more.
The Ranch Grill continues to be a success. Due to the company’s elite craftsmanship and expertise in construction, interiors and displays, and architectural millwork, the restaurant is a warm, welcoming addition o the local dining scene for families and an after-work crowd.
EXCEEDING EXPECTATIONS THROUGH CONSTANT COMMUNICATION, COMPETITIVE PRICING, TIMELY PERFORMANCE AND UNCONDITIONAL ACCOUNTABILITY. NOVEMBER | DECEMBER 2014
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A D V ETISING R T I S ESECTION MENT ADVER
CARLSON STUDIO ARCHITECTURE
BETTER BUILDINGS BY DESIGN. CARLSON STUDIO ARCHITECTURE is committed to helping its clients realize their vision, to producing enlightened design solutions and to creating buildings that perform beyond expectation. Whether your building needs are for work, life, learning or play; whether you need to build from scratch or retrofit an existing building, CSA customizes design solutions that reflect your aspirations and values. Architecture is a combination of art and technology working in harmony. CSA’s “integrated” design approach leverages the complex and complementary interactions between art and technology while enhancing comfort and quality of life. Sustainable design is in the firm’s DNA. It’s dedicated to designing beautiful, efficient and healthy buildings that inspire and uplift. CSA is full-service architecture firm, committed to comprehensive project delivery and personal attention to detail in each and every project.
(941) 362-4312 CARLSONSTUDIO.ORG 1613 FRUITVILLE ROAD, SUITE 1, SARASOTA, FL 34236
Architecture for nonprofit organizations is one of the firm’s passions. The Center for Building Hope is an award-winning, LEED Gold-certified project combining healthy interiors, beauty and sustainable design, all while taking advantage of the natural features of the site and climate.
Custom single-family homes are another passion. CSA was chosen to do the 2009 HGTV Green Home featured on national TV. The home is very energy efficient, water efficient and LEED Platinum certified. Each home is designed specifically for you and your site.
Repeat clients are a good indication of great service. The wellness/fitness center at Sun-N-Fun is the latest project in a 14-year relationship. Multifunctional, contemporary and green design, all in one thoughtful package, to serve the owner and users for decades to come.
AWARD-WINNING ARCHITECTURE AND SUSTAINABLE DESIGN SINCE 1997. LIC.#AA-0002961 ~ LIC.#IB-0000970
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A D V ETISING R T I S ESECTION MENT ADVER
POWER CONTRACTING
COMMERCIAL CONTRACTOR “I FIRST HIRED POWER CONTRACTING to do the interior build-out of the new Blue Rooster Restaurant in Sarasota,” says Bill Cornelius, Blue Rooster co-owner. “They worked with us to resolve problems and minimize cost. Mike was there every time we called—it didn’t matter if it was nights or weekends.” After the successful completion of the Blue Rooster, Cornelius again hired Power Contracting to create his Darwin Brewing Company in Bradenton. “Again they worked with us to resolve problems and offer VE ideas that considerably lowered the project cost,” he says. “I would not hesitate to recommend Power Contracting for your project.” With more than half a billion dollars in successful construction projects, Power Contracting is a top-40 construction firm that offers the professional experience and bonding of a large contractor, but with the low cost and individualized attention of a small contractor.
(941) 803-8123 POWERCONTRACTINGLLC.COM
First Baptist Church “Power focused on customer satisfaction, construction scheduling and cost reduction,” says Minister Aaron Lewis. “In short I believe that Mike cares about his client.” Adds architect David Howard, “Power set a high bar in providing preconstruction services. Mike ensured that the entire pricing and bidding process was transparent.”
Manatee County Historic Courthouse “During the gut and remodel of this 100-year-old, occupied building, we discovered many surprises and challenges,” says Manatee County construction services manager Tom Yarger. “Power Contracting worked as a team with the county and the design professionals to offer solutions, evaluate choices and minimize the cost. Their attention to detail resulted in a very impressive facility that everyone loves.”
Harold Court Townhomes “I consider Power Contracting to be the best amongst their peers,” says High Point owner James Landers. “Beyond the experience, they take a genuine interest in the success of the project and work diligently to resolve any and all obstacles.”
POWER WILL MAKE YOUR PRO FORMA WORK!
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ADVER TISEMENT ADVER TISING SECTION
WILLIS A. SMITH CONSTRUCTION, INC. COMMERCIAL BUILDER
PHOTO CREDIT: STEVEN BROOKE
WILLIS A. SMITH CONSTRUCTION, INC. is a construction management firm headquartered in Lakewood Ranch, serving Southwest Florida since 1972. The company has a longstanding reputation for providing quality construction for its clients in the areas of education, healthcare, museum, commercial, industrial and sustainable construction. The firm is also a member of the Florida Green Building Coalition, the U.S. Green Building Council and Sustainable Sarasota and currently has 14 LEED-accredited professionals on staff. Willis Smith Construction is well established as the regional industry leader for sustainable construction expertise. The firm’s mission statement truly expresses the firm’s commitment to this community: “To promote excellence and integrity in the construction industry while contributing to the betterment of our clients and the communities we serve.” Willis Smith Construction encourages a high level of employee participation in volunteer opportunities.
(941) 366-3116 | WILLISSMITH.COM 5001 LAKEWOOD RANCH BLVD. N., SARASOTA, FL 34240
Photo Credit: Steven Brooke
The construction of Patriot Plaza on the grounds of the Sarasota National Cemetery included two sophisticated glass and steel space frame canopies over the seating area and stage. The project features seating for 2,800 people, extensive landscaping and is a virtual outdoor museum with unique artwork throughout.
Photo Credit: Aerial Innovations
The replacement of Sarasota County’s Gulf Gate Library began May 2013. The new 25,000-square-foot, two-story facility was designed to be LEED Certified and includes various sustainable construction principles. Large areas of glazing foster natural daylighting into the interior spaces allowing patrons to enjoy exterior views from all locations.
BUILT TO BE A LANDMARK ®
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Photo Credit: Greg Wilson
Phase III of the Sarasota County Technical Institute rebuild of the 1970s structures included six new buildings (five one-story and one two-story building) and the renovation of an existing structure totaling approximately 165,000 SF. Riverview High School’s new baseball and softball fields were also constructed on the SCTI property.
ADVER TISING SECTION
ADVER TISING SECTION ADVER TISEMENT
BORDEN LANDSCAPE ARCHITECTURE, LLC OUTDOOR DESIGN FIRM
BASED IN SARASOTA, BORDEN Landscape Architecture is a locally engaged design firm that prides itself on creative and meaningful landscape design and installation coordination. The founder, a Florida native, works with residential clients on Florida’s Gulf Coast creating exceptional landscapes to complete their home environment. BORDEN’s talent complements contemporary, modern, Mediterranean as well as historic homes. Working closely with each client, architect, builder and contractor, BORDEN Landscape Architecture is able to translate a homeowner’s desires into a living reality.
This West Indies-inspired home rests in a canopied neighborhood with views of Sarasota Bay. BORDEN created unobstructed views of the water and recreational spaces waterside. The front courtyard, including tropical plantings, natural stone and formal fountain, creates a soothing environment. (941) 404-3161 | bordenlandscape.com 1348 Fruitville Road, Suite 203, Sarasota, FL 34236
ADVERTISING SECTION
MANASOTA COMMERCIAL CONSTRUCTION COMPANY COMMERCIAL CONSTRUCTION
MANASOTA, A FULL-SERVICE COMMERCIAL CONSTRUCTION COMPANY, has a diverse, proven, 27-year track record of completing projects on time and on budget, with your construction needs the No. 1 goal. The business philosophy is, “Enhancing your building experience,” with personalized service and distinctive ideas for each project, giving clients full value for each dollar invested. Manasota pays close personal attention to each project from start to finish with detailed attention to progress and quality control with their success a result of commitment and sound management decisions. Manasota provides new construction, renovations, interior build out and VP metal buildings. Cooper Family Medical’s new 11,300-square-foot Caribbeanthemed office with vaulted lobby, incorporating a custom, 1,400-gallon salt aquarium, will accommodate multiple doctors with onsite lab and ultrasound room. Special features include porte-cochere drive-up entry with copper-colored metal roof. (941) 795-2732 manasotaconstruction.com 5515 21st Ave. W., Suite D, Bradenton, FL 34209
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& PRESENT
LA GU I A
2015 LUNCHEON UNITY AWARDS
CELEBRATING LOCAL CHAMPIONS OF DIVERSITY WHO ENCOURAGE ALL, REGARDLESS OF RACE, AGE, GENDER, SEXUAL IDENTITY OR ABILITY—THOSE PEOPLE WHO WORK TO MAKE OUR WORKPLACES AND COMMUNITY MORE TOLERANT AND DYNAMIC.
TUESDAY, JANUARY 27, 2015
11:30 A.M. TO 1:00 P.M.
MICHAEL’S ON EAST
purchase your tickets now UNITYAWARDS2015.EVENTBRITE.COM
Financial Intelligence
By Lori Johnston
things the IRS gives you, with no questions, is being able to set up some type of retirement program,” says Beth C. Ebersole, a CPA and shareholder with Kerkering, Barberio & Co., CPAs, in Sarasota. “You get a current deduction, but the money is still yours.” Each plan has contribution limits, some of which are related to annual income amounts.
Taxed Out
To save on your taxes, try these five year-end strategies. AS THE HOLIDAYS START TO TAKE OVER, give yourself and your business a gift by setting aside time to squeeze out tax savings for 2014. These five strategies could be a way to invest in your business and employees and receive tax benefits this year.
BUY NOW Don’t go on a shopping spree, but if you anticipate needing business equipment or software in 2015, purchase it before the year ends. In past years, businesses could write off up to $500,000 when buying new or used items. For the 2014 tax year—unless Congress acts by year-end to raise the Section 179 expense deduction benefit—
businesses are limited to a much smaller write-off of $25,000. (This benefit applies to assets that generally have a depreciable life of seven years or less.)
LOOK TO RETIREMENT Setting up plans, such as a SIMPLE (Savings Incentive Match Plan for Employees) IRA, ROTH IRA, SEP (Simplified Employee Pension) plan, 401(k) or Solo 401(k), can save for the future with positive tax consequences for the employee, business owners and the company. The company contributions are a tax deduction, says Barbara Wright, president of Sarasota-based Wright Accounting. “One of the last good
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GET INSURED Tax provisions related to the Affordable Care Act are still in flux, but Wright recommends that anyone who is self-employed use the self-employed health insurance deduction. This benefit is tied to money spent on premiums for health and dental insurance, and a limited amount of long-term care premiums. The deduction for health insurance is the amount paid on premiums, and is limited to the net profit of the business, Wright says. Only the long-term care premiums are limited based on age, so the older you are, the higher the amount of premiums that can be deducted as health insurance. If you have fewer than 50 employees, there’s also the employer-paid health insurance credit. If employers pay at least half of the health insurance premium for employees, a credit of up to 50 percent, for a maximum of two years, is applied to the income taxes paid by a business. For a non-
profit, the credit is applied to its employer tax liabilities.
EXPENSE YOUR TRIPS Before backing out of that parking spot, take a moment to jot down the mileage. “Take full advantage of the vehicle deduction,” Wright says. The 2014 standard federal rate is 56 cents per each business mile driven. She advises that business owners and their employees keep a mileage log of odometer readings and the trip purpose. You can use good old pen and paper, or track it on a smartphone with mileage and GPS apps. Visits to customers and vendors (that includes your accountant) count, as well as trips to the post office and bank, and to buy
scf.edu
supplies. Also, don’t forget trips to meetings and seminars, chamber of commerce or industry association functions, and even network-
“Take full advantage of the vehicle deduction.”
as soon as you leave your driveway. If you don’t meet the IRS qualifications for a home office, the mileage starts after the first stop; the distance from the last stop to home is not counted.
DEDUCT FOR CERTAIN PRODUCTS
ing events. “Sometimes people don’t think about all of those things as being directly related to business,” Wright says. Pay attention to where you are starting your mileage. If you have a home office, your mileage starts
If your business is in manufacturing, construction, engineering, software development or other industries that build or make new products, there is a credit of 9 percent of your earnings from the sale of those products. The activity must take place in the U.S. and use new parts, Wright says. “New house construction or new commercial construction can qualify, too,” she says. ■
Est. 1957, Region’s First and Largest Public College Bradenton • Lakewood Ranch • Venice • Online
State College of Florida, Manatee-Sarasota is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award associate and baccalaureate degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of State College of Florida, Manatee-Sarasota. State College of Florida, Manatee-Sarasota does not discriminate on the basis of sex, race, religion, age, national origin/ethnicity, color, marital status, disability, genetic information and sexual orientation in any of its educational programs, services or activities, including admission and employment. Direct inquiries regarding nondiscrimination policies to: Equity Officer, 941-752-5323, PO Box 1849, Bradenton, FL 34206.
NOVEMBER | DECEMBER 2014
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Fast Track
Movers, Shakers & Headline Makers
SANDRA STONE
DEVIN ARCHER
JILL MCGARRY
POSITIONS TAKEN Dr. Sandra Stone, regional chancellor, University of South Florida Sarasota-Manatee. Carol Ann Malinowski, chief financial officer, Marie Selby Botanical Gardens. Tami Dalgaard, real estate team closer, law firm of Berlin Patten. Ryan Schloneger, portfolio management; Sarah Salanowski, executive assistant and administration; and Ashley Johnson, sales assistant; JMX Brands. Dr. Kate Ross, dermatologist, LA Plastic Surgery & Dermatology. Peter Grady, chief financial officer, Rapid Pathogen Screening. Scott Hinckley, vice president of client relations; and Nikki LePine, promotion services, The One to One Group.
DOUGLAS CHERRY
MATTHEW BROCKWAY
Lucy Brenner, senior accountant; Kim Bryson, medical consultant; Tahnya Suskind, in-charge accountant; Shawn Mort, staff accountant; Scott Goeb, staff accountant; Dan Harris, promoted to manager; Mary Garcia, promoted to senior accountant; Karen Davis, Kathleen Martin and Nancy Maldonado, promoted to in-charge accountants; Jessica Jensen, promoted to accountant, Kerkering, Barberio & Co., CPAs. Devin Archer, James Ryan Parrish and Johnathan Genao, staff accountants, CS&L CPAs. Ashley Reece, senior accountant; and Caroline Denton, promoted to Staff 1 accountant, H. Lee Thacker Jr., senior executive vice president, Caldwell Trust Company. Denise Cotler, director of senior
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SCOTT COLLINS
development; and Elaina Mand, development coordinator, All Faiths Food Bank. Kerry Bartlett, managing director, Bob Carter Companies. Kevin Taterus, associate director of facilities planning and management, USF SarasotaManatee. Kevin Billingsley, regional sales manager, Clare Controls. Richard M. Parison Jr., executive director, Westcoast Black Theatre Troupe. Laurie Pike, director of sales and marketing, Comfort Suites Sarasota. Jill McGarry, marketing director, law firm of Blalock Walters. Eladio Amores, director of employment partnerships, Goodwill Manasota. Todd Stimmell and Leonard Lozano, senior software systems
Fast Tracker
EIGHT YEARS AGO, a friend brought Lakewood Ranch’s Ruth and Stan Brown a Chinese-made candle that, when lit, opens to a 14-petal lotus that spins while playing Happy Birthday. The couple, who hold patents on novelty items and have developed several products, liked the concept,
engineers; Andrew Oustimov, Carl Brown, Jimmy Bement and Lina Garcia, software quality assurance analysts, Tropics Software. Mark Evans, vice president of land development, Southwest division, Neal Communities. Heather Vallely, promoted to assistant vice president, Insignia Bank. Will Luera, director of improvisation, Florida Studio Theatre. Thomas Trinchetto, M.D., chief medical officer, Doctors Hospital of Sarasota. Karin Shillus, staff accountant, Kenneth Jarvis, PLLC, Certified Public Accountants. Caroline Early, manager, strategic communications, Next-Mark LLC.
but knew it needed to meet safety standards. So they, along with their three daughters, redesigned the product in high-quality plastic and with no lead or flammable materials, and called it The Amazing Candle. The Browns succeeded in getting CNN to feature the candle in 2012, and followed that up with an appearance on The
ACCOLADES Sonitrol of Sarasota was named one of the nation’s top 100 security providers in 2014 by SDM Magazine. Marisa J. Powers was elected vice president of the board of the Florida Association for Women Lawyers, Manatee County chapter; and Ann K. Breitinger was reelected to the board. Both attorneys are with the law firm of Blalock Walters, P.A. BoostDFM created two ads for John Cannon Homes that won Excel Awards at the 36th annual Southeast Building Conference: best newspaper advertisement for a builder and best magazine advertisement for a builder, a twopage spread published in Sarasota Magazine.
Food Network earlier this year. Since then, retailers have been calling. Sales have gone from one case per month online to distributing more than 30,000 units in six years to retailers nationwide. Ruth Brown also took the candle to the Lockwood Ridge Walmart in Sarasota. The store manager loved it, and the candles are now sold in four local Walmarts. Retailing for $7-$13, there are four designs, including sports themes, but the family-owned company has plans to expand their stock and distribution. “There’s no shelf life on them. Everyone has a birthday,” Ruth Brown says.—Chelsey Lucas
Manatee County was named the 2014 healthiest Bay-area employer by the Tampa Bay Business Journal. New College of Florida ranked No. 12 in Forbes’ list of the country’s “Best Value Colleges” for 2014. Jonathan Parks Architect and Josh Wynne Construction each won several awards at the 2014 Aurora Awards Design Competition presented at the 36th annual Southeast Building Conference; and Neal Communities won its 50th Aurora Award for best community over 500 acres for its Grand Palm development. ArtisTree Landscape Maintenance and Design received its 10th consecutive Overall Safety Achievement Award from the Professional Landcare Network (PLANET).
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Fast Track Star2Star Communications was named to Inc. magazine’s annual Inc. 500/5000 ranking of the nation’s fastest-growing private companies for the fourth consecutive year. State College of Florida, ManateeSarasota named Edward Bailey chair of its board of trustees, and Lori Moran vice chair. Dr. Arthur Valadie of Coastal Orthopedics was named among the top physician leaders in the ambulatory surgical centers industry in Becker’s ASC Review. Dan DeLeo, Sarasota Sheriff Tom Knight, Lisa Krouse and Michael Quillen are members of the newest class of Leadership Florida. Douglas A. Cherry of the law
firm of Shumaker, Loop & Kendrick is the new president of the Sarasota County Bar Association. S-One Holdings Corporation, parent of LexJet, has been named one of the Best Companies to Work For in Florida by Florida Trend; and LexJet co-founder Art Lambert received the Clyde Nixon Business Leadership Award from the Economic Development Corporation of Sarasota County. The landscape architect studio Michael A. Gilkey, Inc. won an Award of Excellence from the Florida Nursery and Landscape Growers Association for the Casey Key Pagoda Garden it completed last year in conjunction with Synergy Building Corp.
Erin Duggan of Visit Sarasota County was elected to the board of directors of the society of American Travel Writers Eastern Chapter. G. Matthew Brockway has been named a shareholder in the law firm of Icard Merrill. Big Brothers Big Sisters of the Sun Coast named Comcast its 2013-2014 Corporate Partner of the Year. The Ringling Museum complex had record visitorship of 384,323 in 2013-2014, 12 percent higher than the previous fiscal year.
MOVING AND OPENING R. Scott Collins has opened the boutique wealth management firm, Fiduciary Wealth Advisors.
Fast Tracker Sarasota-based PPi Technologies Group, headed by R. CHARLES MURRAY, has been named one of GrowFL’s top 50 second-stage Florida Companies to Watch. PPi Technologies, which makes the machinery for specialty packaging, expanded to a 100,000-squarefoot manufacturing facility in Northgate Industrial Park in September.
How has the designation affected your business? As a small family business [with 45 employees] it’s really something for us. We’re inspired to keep innovating and building faster, bigger machines.
Why was your company selected? We’ve had a 25 percent increase in sales over the last three years. Our plan is to double sales revenue in five years and after three years start building on an empty lot we own down the street so we’re ready for the new growth. We’ll probably add another dozen or so employees. We’re in contact with offices in Europe and Asia to expand distribution internationally.
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Future plans? We have a lot of patents out. One of them is the nearfield communication (NFC) chip we’ll add to the packaging that corresponds with an app on mobile devices to give consumer information about the product, such as expiration date or recipes. It also acts as a GPS, so, for example, if a child is abducted we can use the technology to track down the pouch in their lunchbox. —Chelsey Lucas
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!! I ! ! !
!!!
!!!
nternship Partners Wan ted!
Fast Track Voalte has launched Voalte Labs, an independent development
!
unit to focus on future-facing technologies, at the HuB, 1680 Fruitville Road in Sarasota. Sunset Grill Terra Ceia Bay has opened at 2802 Terra Ceia Bay Blvd. in Palmetto. Kenneth Jarvis, PLLC, has moved to 9030 58th Drive E. in Bradenton. Toale Brothers Funeral Homes & Crematory has expanded its company to four locations with the purchase of Ewing Funeral Home at 140 E. Venice Ave. in Venice. Hand & Stone Massage and Facial Spa has opened at 3800 S. Tamiami Trail in Sarasota. Envision Enterprises, sole distributor of Danish Design, Jacob Jensen and Lars Larsen watches in the U.S., has moved to 4180 S. Tamiami Trail in Sarasota. AutoXotic has opened a showroom at 8700 S. Tamiami Trail in Sarasota. The law office of Carlson, Meissner, Hart & Hayslett, P.A. has moved to larger quarters at 714 Manatee Ave. E., Suite C, in Bradenton. Personal trainer Adam Brammer of BrammerStrength has opened the Fitness Together Training Course at the Athletic Consulting Group, 4472 McAshton St. in Sarasota. Dulcefina Chocolate & Sweets has opened at 4221 S. Tamiami Trail in Sarasota. A second area Painting With a Twist studio has opened at 5917 Manatee Ave., Suite 209, Bradenton. Sharon Kunkel has opened WordSlinger Marketing and PR.
New College of Florida is seeking organizations who are interested in partnering to offer internship opportunities to qualified college students. For program details, please contact Internship Coordinator, Andrea Knies, at 941-487-4421 or aknies@ncf.edu.
BOB’S WINDOW BOB’S WINDOW CLEANING CLEANING “Clearly the Best” “Clearly the Best” (941) 955-4607 (941) 955-4607
• Commercial buildings • Commercial buildings Residential properties • Residential properties Window cleaning • Window cleaning Pressure cleaning Gutter cleaning • Pressure cleaning All work guaranteed • All workthe guaranteed Serving area since 1972 • Serving the area since 1972 bobswindowcleaning@gmail.com www.bobswindowcleaning.BIZ bobswindowcleaning@gmail.com www.bobswindowcleaning.BIZ
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SPONSORED REPORT
PROUD TO BUILD The Gulf Coast Builder’s Exchange (GCBX) has launched the “Proud to Build” campaign to promote and support its diverse group of members. As a passionate advocate for our local construction trades, GCBX works hard to ensure recognition of this backbone of our regional economy and create a climate where the industry thrives and our community benefits. “Our members are an integral part of the economic development of the Southwest Florida community, and this campaign is bringing their stories to light,” said Mary Dougherty-Slapp, Executive Director of the Lakewood Ranch-based regional trade organization. “Regardless of their specific profession within the building community, our members contribute to this region in so many ways—from smart growth initiatives to philanthropic efforts. We are proud of our strong and varied membership.” This year, GCBX and its members have much to be proud of: • Sarasota County disbursed 13 percent more permits in 2014 than in 2013, and the City of Sarasota’s permits were up 14 percent over the previous year. The construction value of county permits was $861 million and the city’s permit value doubled to $362 million in 2014. • More than a dozen developments are planned for downtown Sarasota. • The Mall at University Town Center is finally open and much of the construction was done by local subcontractors. GCBX met early on with the mall contractor to stress the importance of utilizing locals and the result is a big boost to our regional economy. • GCBX has partnered with the business community to make Sarasota County’s
2050 growth management plan workable for developers, builders and residents. • The number of construction jobs in the North Port-Bradenton-Sarasota Metropolitan Statistical Area reached 18,600 in August 2014, the largest number since 2008. • GCBX was at the forefront of growth management reform in Tallahassee. The results of these efforts are being seen in a more business-friendly environment and a streamlined permitting process. • Advocated to reduce impact fees in Manatee and Sarasota Counties. “The building industry recruits and retains strong young talent to the area. These people are raising their families, paying taxes, and volunteering in our community,” said Russ Bobbitt, Board Chair of the GCBX and Partner/Agent at Purmort & Martin Insurance Agency. “They have a strong social and economic impact on our region. In addition, our members are improving the area by building environmentally friendly state-of-the-art structures.” “Our building community took Sarasota out of its infancy stage. Back when we were just a beach town, everyone emptied out of downtown Sarasota right at 5 p.m. in a race to get home,” said Jon Swift of Jon F. Swift, Inc. “Now we’re a thriving, bustling center of employment with a growing economy. A vibrant community leads to tax dollars from new residents for roadways, infrastructure and more, and I’m proud to be one small part of that process.”
SPONSORED REPORT
KEYSTONE MEMBERS
GCBX, owned by its members, is a not-for-profit corporation operating as a trade organization under the guidance of a volunteer board of directors as representatives of the industry. We would like to thank our 2014 Keystone sponsors.
DIAMOND SPONSOR
PLATINUM SPONSOR
GOLD SPONSORS
SILVER SPONSORS ANDERSEN RACE PARK
DATUM CORPORATION
MEDALLION HOME
AQUA PLUMBING & AIR
DISTINCTIVE SURFACES OF FLORIDA
BIZ(941)
E.T MACKENZIE OF FLORIDA, INC.
PURMORT & MARTIN INSURANCE AGENCY, LLC
BOUCHARD INSURANCE
FORRISTALL ENTERPRISES, INC.
BRIGHT FUTURE ELECTRIC
JON F. SWIFT, INC.
CLIMATIC CONDITIONING COMPANY, INC.
KARINS ENGINEERING GROUP, INC.
CONLEY BUICK GMC- BUSINESS ELITE
KIMLEY- HORN & ASSOCIATES, INC.
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SERVICE PAINTING OF FLORIDA SUNCOAST METALS - RECYCLING, INC. WASTEPRO USA WILLIS A. SMITH CONSTRUCTION, INC.
Commercial Development, Construction and Management
(941) 747-1062 CGC006547 CGC1511361
1001 Third Avenue West n Suite 600 n Bradenton, Florida 34205
Visit us online at NDCConstruction.com NOVEMBER | DECEMBER 2014
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SPONSORED REPORT
MEMBERS DOING BUSINESS WITH MEMBERS! WORKING FOR YOU! Who are GCBX members? • • • •
General Contractors, Specialty Contractors, Industry Professionals, and Suppliers. GCBX represents the region’s major General Contractors. Every member has an equal vote and equal status in GCBX. The more members GCBX has, the greater our voice to represent you and your business.
Advocacy • GCBX works with elected officials at the federal, state and local levels on issues of national and local importance that affect the commercial contracting industry. • GCBX works with state legislators regarding growth management issues. • GCBX continues to work with state and local officials on economic development initiatives that drive business and construction to the region.
Building Your Business • Networking - providing members opportunities to network with like-minded business people • Affinity programs save your company money • Member-to-Member Discounts • Educational Opportunities – to find better ways to improve your business
“GCBX working for you… Join Today!” Visit our website GCBX.org for more information about membership and call (941) 907-7745 or email AlbaniGustason@gcbx.org to see how your business can become a member!
MOMENTUM FLEET MANAGEMENT GROUP FLEET VEHICLE PROGRAM The GCBX has arranged for a one-of-a-kind vehicle purchasing and leasing program with Ford, GM and Chrysler through our partners, Momentum Fleet Management Group and International Builders Exchange Executives. These manufacturers offer fleet rates to 68 BIZ(941) NOVEMBER | DECEMBER 2014
GCBX members whether buying or leasing a single vehicle or a fleet of hundreds. The program is open to all makes and models, including standard vehicles, “foreign” cars, “up-fitted” cargo vans, pickups, medium duty trucks, tractor trailers and forklifts.
SPONSORED REPORT
BOARD OF DIRECTORS
From left: Mike Bennett, Bright Future Electric; Jack Cox, Halfacre Construction Company, Inc.; Doug Sutter, Sutter Roofing Company; Greg Burkhart, Key Glass, LLC; Mary Forristall, Forristall Enterprises; Kevin Hicks, Gator Grading & Paving; Russ Bobbitt, Purmort & Martin Insurance Agency, LLC (2014 GCBX Chairman); John Brown, Law Office of John E. Brown; Paul Stehle, Climatic Conditioning; Darrell Turner, Turner Tree & Landscape; Mary Dougherty-Slapp, Gulf Coast Builders Exchange Executive Director; Bill North Jr., Hill Barth & King LLC; Lemuel Sharp III, Sharp Properties, Inc.; David Karins, Karins Engineering Group, Inc.; Brian Leaver, Tandem Construction. Not shown: Jason Swift, Jon F. Swift, Inc.; Mark Freeman, McIntyre Elwell & Strammer General Contractors.
2014/2015 CALENDAR OF EVENTS GCBX Sporting Clays Tournament Friday, November 14, 2014 Knights Trail Park
GCBX Holiday Social Thursday, December 4, 2014 Powel Crosley Estate
2015 GCBX Annual Dinner Thursday, February 5, 2015 Hyatt Regency Sarasota
NOVEMBER | DECEMBER 2014
BIZ(941) 69
SPONSORED REPORT
“The Gulf Coast Builders Exchange is a tremendous resource for our region, providing an invaluable networking platform to our local builders and contractors. At Benderson Development, we continue to be a proud sponsor of GCBX because we’re both here to keep the local economy growing, and the Builders Exchange is determined in its effort.” —Randall Benderson, Managing Director, Benderson Development Company, LLC
“ME&S General Contractors is proud to be a member of the Gulf Coast Builders Exchange. GCBX is a great organization and it does a fantastic job promoting and enhancing the local construction industry. GCBX has helped us to create new vendor relationships and strengthen existing ones with a number of the top companies in the area. We look forward to its continued success.” – Mark Freeman, Vice President, McIntyre Elwell
”I feel it is & Strammer General important Contractors, Inc. for General Contractors to be a part of the GCBX because it allows interactive opportunities to network “Gateway is with one another and proud of its our subcontracting affiliation with community to come GCBX! We together in ways that believe the usually you would not get organization is a to experience without a great catalyst between the trade organization. construction and banking “There are a lot of issues industry. It provides us in today’s economy that a terrific opportunity directly affect how the to network with local construction industry construction industry operates, not only on a leaders. We understand national level, but on a the positive impact this local level as well. Being an active participant in the key group has on our local economy, and we want to GCBX, NDC Construction offer the right products Company can be part and services to help this of a strong voice in our industry be as successful industry and community as possible.” through the GCBX’s —Shaun P. Merriman, programs and regional President and CEO, political processes. We Gateway Bank of are all ultimately trying Southwest Florida to accomplish the same goal—which is to make the area and surrounding areas a better place to live for everyone.” —Ronald J. Allen, President, NDC Construction Company
“As Mayor of the City of Bradenton, I know that I can turn to GCBX to represent the voice of the industry. GCBX works with elected officials to create a business-friendly environment that is conducive to economic development and the economic prosperity of the community. GCBX advocates effectively for its members and, most importantly, has earned my trust and the trust of elected officials throughout the region.” —Mayor Wayne Poston, City of Bradenton
“As a Past Chairman of GCBX, I believe in the organization and its mission. GCBX provides a voice for subcontractors and for the commercial contracting industry. Through its government affairs program, GCBX advocates for issues of importance to the industry to create an economic environment where business and the community can thrive. It provides opportunities for Sutter Roofing to build our business by forging relationships with the area’s leading general contractors and business leaders. GCBX provides a platform to meet and exchange ideas, and is focused on the needs of the members and building their businesses.” —Douglas Sutter, President, Sutter Roofing Company of Florida
“At GCBX, not only will you be networking with leaders in our local industry, but you also will have fun doing it! GCBX offers many opportunities to meet and interact with the decision makers at the leading general contracting firms in the region as well as elected officials. In addition to networking, there are opportunities for educational seminars, government advocacy to solve problems facing the industry, and the ability to create a businessfriendly environment. Come experience the best business networking events in the area.” —William E. North, II, CPA, CCIFP, Principal, Hill, Barth & King, LLC
“The GCBX provides members with access to a network of industry leaders, pertinent educational opportunities and a political voice on issues impacting local government. Membership has benefited my practice with invaluable relationships, education and a great return on investment. The leadership and staff at GCBX are passionate about their cause and supportive to membership, always ready to lend a hand. Our commercial trade association is of great importance to keeping work local and benefiting our community through ‘members doing business with members’ and our ‘Proud to Build’ initiative.” —Josh Helmuth, Risk Consultant, Lykes Insurance
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BIZ(941) 71
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BY Kim Hackett
What I’ve Learned
Tom Shepard
ALEX STAFFORD
TOM SHEPARD INHABITED THE REAL WORLD of Mad Men, the TV show about the glamorous 1960sera Madison Avenue men and women who created modern advertising. Shepard, now 96 and living part time on Longboat Key, once traveled the country selling Vick’s VapoRub to druggists and convinced farmers to let him put Vick’s signs on their barns before outdoor advertising became common. Later, Shepard worked with such iconic American brands as Zippo Lighter, Coca Cola, Sunkist and General Electric, convincing them to advertise in Look magazine. Shepard ascended to publisher and reigned during Look’s most influential years until it folded in 1971 as advertisers flocked to TV. He then became president of the Institute of Outdoor Advertising as it evolved from barn signage to sophisticated billboard campaigns. Shepard recently published his fourth book, Making the Sale, the Art of Salesmanship.
“I’ve been selling for over 70 years; I’ve sold hundreds of millions of dollars in products, and what I tried to do in this book is help the reader understand the cardinal principles of selling.”
“As a salesman for Look in the 1940s, I followed two rules and I follow them to this day: Never be too busy to say hello; and No. 2, if you’re talking, you’re not learning.”
“We’ve lost the art of conversation and it’s hurting our country. People are doing the ‘how are you?’ bit and walking right by you.”
“Since I started in business as a traveling salesman for the Vick Chemical Company, technology has transformed communication. Yet the most fundamental element in the art of good salesmanship is still the human aspect. A salesperson who takes the time
to focus on the customer’s needs and preferences and who presents an agreeable personality—the one who says hello and listens carefully—is still the salesperson who finishes on top.”
“When Look folded, it taught us a lesson in the magazine business. After TV emerged, we were in a circulation race to get numbers; consequently, we lowered the price of our product in order to attract more circulation
NOVEMBER | DECEMBER 2014
BIZ(941) 73
What I’ve Learned in order to compete with TV. We charged in the last days only 75 cents a copy for Look. It cost $3 to produce it.”
“When you go looking for a job, the tendency has been to present a resume and talk about yourself. They’re not interested that you were president of the debating club or a hockey player; they’re interested in what you can do for them.”
“Nothing happens in American business until something is sold. Proctor & Gamble, the biggest package goods company in the world, would go out of business if it didn’t sell a product.”
“If you have something important to say, say it importantly,
because if you don’t, people may not think it’s a significant product, service or announcement.”
“Know your product inside and out; know your customer’s needs inside and out. Read the chairman of the board’s annual letter because he will tell you what his dream is for the company.”
“Approach top management. When I started at Look, we were getting bits and pieces of Sunkist Oranges, a huge operation on the West Coast, while other companies were winning major contracts from them. And I noticed that we weren’t getting any Del Monte food advertising. After looking over those two accounts, it struck me that one of the reasons we
weren’t getting those accounts was that we didn’t have contacts with senior management. So part of my strategy for our salesmen was to see that they had the guts and know-how to approach top management.”
“Creativity has to be within, but if you can develop a curiosity about life, about people, it’s powerful. Be wide in your interests. That leads to inspiration.”
“The producers of Mad Men had fun with that period and they got it right. Underneath, those were the wonder days of magazines and newspapers; TV had yet to emerge, or it was just starting to, so we had the world to ourselves.” ■
David R. Kotok
Chairman & Chief Investment Officer Since 1973, Cumberland Advisors has been a trusted source for expert, personalized money management. Our firm has a wealth preservation bias and a conservative investment orientation to manage both risk and return. As a fee-for-service manager, our firm manages more than $2 billion in fixed income and equity accounts. Our clients include individuals, institutions, retirement plans and government entities.
One Sarasota Tower
2 N. Tamiami Trail, Suite 303 Sarasota, FL 34236
800.257.7013
www.cumber.com
@CumberlandADV
74 BIZ(941) NOVEMBER | DECEMBER 2014
614 E. Landis Avenue Vineland, NJ 08360
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NOVEMBER | DECEMBER 2014
BIZ(941) 75
ADVER TISING SECTION
2014 Sarasota
2014 Five Star Wealth Managers
Five Star Wealth Managers A Select
AWARD
Finding a wealth manager who suits your needs can be a daunting task. In fact, many consumers have a hard time figuring out where to even begin.
Sometimes, a few simple questions can set one off on the right path. Asking a wealth manager what makes working with him or her a unique experience can help you understand how they work and if their style meshes with your own. Further, asking a financial advisor to talk about any specialties they might have can help uncover skills you might find useful. Ultimately, how do you find an experienced wealth manager who you feel comfortable working with? One who has high retention rates? One who has undergone a thorough complaint and regulatory review? One who has tenure in the industry? Biz(941), Sarasota Magazine and Five Star Professional partnered to find wealth managers who satisfy 10 objective eligibility and evaluation criteria. Among many distinguishing attributes, the average one-year client retention rate for this year’s award winners is more than 96 percent. Although this list is a useful tool for anyone looking for help in managing their financial world or implementing aspects of their financial strategies, it should not be considered exhaustive. Undoubtedly, there are many excellent wealth managers who, for one reason or another, are not on this year’s list. In order to consider a broad population of high-quality wealth managers, award candidates are identified by one of three sources: firm nomination, peer nomination or pre-qualification based on industry standing. Self-nominations are not accepted. Sarasota award candidates were identified using internal and external research data.
— www.fivestarprofessional.com
Determination
OF AWARD WINNERS
Award candidates who satisfied 10 objective eligibility and evaluation criteria were named 2014 Five Star Wealth Managers.
Eligibility Criteria – Required
Evaluation Criteria - Considered
1. Credentialed as an investment advisory representative or a registered investment advisor.
6. One-year client retention rate.
2. Actively employed as a credentialed professional in the financial services industry for a minimum of five years.
8. Non-institutional discretionary and/or non-discretionary client assets administered.
3. Favorable regulatory and complaint history review. 4. Fulfilled their firm review based on internal firm standards. 5. Accepting new clients.
7. Five-year client retention rate.
9. Number of client households served. 10. Education and professional designations.
Research
• Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. • The Five Star award is not indicative of the wealth manager’s future performance. • Wealth managers may or may not use discretion in their practice and therefore may not manage their clients’ assets. • The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional, Biz(941) or Sarasota Magazine. • Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. • Five Star Professional is not an advisory firm, and the content of this article should not be considered financial advice. For more information on the Five Star award and the research/selection methodology, go to www.fivestarprofessional.com. • 849 award candidates in the Sarasota area were considered for the Five Star Wealth Manager award. 146 (approximately 18 percent of the award candidates) were named 2014 Five Star Wealth Managers.
DISCLOSURES
Regulatory Review
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As defined by Five Star Professional, the wealth manager has not: • Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine. • Had more than a total of three customer complaints filed against them (settled or pending) with any regulatory authority or Five Star Professional’s consumer complaint process. • Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority. • Filed for personal bankruptcy. • Been convicted of a felony. Five Star Professional conducts a regulatory review of each nominated wealth manager using the Investment Adviser Public Disclosure (IAPD) website. Five Star Professional also uses multiple supporting processes to help ensure that a favorable regulatory and complaint history exists. Data submitted through these processes was applied per the above criteria: • Each wealth manager who passes the Five Star Professional regulatory review must attest that they meet the definition of favorable regulatory history, based upon the criteria listed above. • Five Star Professional promotes via local advertising the opportunity for consumers to confidentially submit complaints regarding a wealth manager. • Five Star Professional contacted approximately 1 in 12 households identified as having a high propensity to use the services of wealth managers in order to provide consumers the opportunity to submit complaints regarding a wealth manager. For more information on the program, go to FiveStarProfessional.com/awards/cpa_epa_wm_program.php.
ADVER TISING SECTION
Creating Client-Centered Solutions for Your Future • A focus on tax-efficient strategies to accumulate and distribute wealth • Balancing risk and reward with a commitment to achieving your goals • Comprehensive financial planning to provide for the retirement you deserve 2014 winner Steven N. Dahlquist
DAHLQUIST
As a Chartered Financial Consultant® with my own independent advisory firm, Dahlquist & Associates, I have served clients using my more than three decades of experience in the financial services industry.
& A S S O C I A T E S
8010 Conservatory Drive Sarasota, FL 34243
We have built a wealth management platform that helps insulate and protect our clientele from financial harm as well as helping them achieve sustainable long-term success. As a dedicated philanthropist and volunteer, I have served this community that I love and assisted many of our clients by integrating their charitable and legacy desires.
Office: 941-587-8531 steve@dahlquistassoc.com dahlquistassoc.com
Securities offered through Securities America, Inc., Member FINRA/SIPC, and advisory services offered through Securities America Advisors, Inc., Steven N. Dahlquist, Representative. Dahlquist & Associates and the Securities America companies are unaffiliated. Securities America and its representatives do not provide tax advice; therefore it is important to coordinate with your tax advisor regarding your specific situation.
Proactive, Comprehensive, Relationship-Driven • Risk management for long-term investors • Building wealth is a process, not an event • Risk calibration
— www.fivestarprofessional.com
The Buskey McGinty Group
2014 Five Star Wealth Managers
Steven N. Dahlquist
2014 winner Paul Buskey, three-year winner Jane McGinty
The Buskey McGinty Group has a combined 49 years of experience. Paul Buskey and Jane McGinty have worked together since 1996. They work primarily with investors in retirement and preretirement years. They believe that their job is not to hand a client a cookie-cutter financial program; rather, it is to listen to their clients and to interact with them in a two-way process of education and information sharing. They help their clients craft their own financial plan in the most effective and cost-efficient manner possible.
5259 South Tamiami Trail Sarasota, FL 34231 Phone: 941-364-4558 pbuskey@rwbaird.com jmcginty@rwbaird.com
Robert W. Baird & Co. Member SIPC.
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Active as a credentialed professional in the financial services industry for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not: A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three customer complaints filed against them [settled or pending] with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; C. Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority; D. Filed for personal bankruptcy; E. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients; 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or awarded. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The award methodology does not evaluate the quality of services provided and is not indicative of the winner’s future performance. 849 Sarasota wealth managers were considered for the award; 146 (18 percent of candidates) were named Five Star Wealth Managers.
F S • 2
ADVER TISING SECTION
Robert D. Rosenberg
Matthew Otto
Rebecca S. Bolletti
Owner/Financial Advisor
CFP®
Vice President, Financial Advisor
2014 Five Star Wealth Managers
1219 S. East Ave., Ste. C306 Sarasota, FL 34239 Office: 941-366-8801 Rrosenberg@SummitBrokerage.com
www.RosenbergAssetMGT.com
At Rosenberg Asset Management, our family office is here to offer independent advice unique to each client. We stand firm in our belief that no two investors are the same. When accepting new clients, our advice is based on specific client goals and objectives. Rosenberg Asset Management is an independent firm with securities offered through Summit Brokerage Services, Inc., Member FINRA, SIPC. Advisory Services Offered through Summit Financial Group, INC., A Registered Investment Advisor.
Matthew is a private financial advisor with a niche focus in managed futures, currencies, hedge funds, commodities and various alternative investments. Offerings include fixed income and go beyond traditional retail investments.
2 N Tamiami Trl., Ste. 1100 Sarasota, FL 34236 Phone: 941-364-7406 Toll-free: 800-237-9441, Ext. 406 rebecca.s.bolletti@ morganstanley.com Financial planning requires a customized a p p r o a c h t a i l o r e d t o e a c h i n v e s t o r. Considering risk tolerance, time horizon, goals and resources is an important part of the investment process. I have 35 years of experience, and I am happy to provide a complimentary financial plan and review. ©2014 Morgan Stanley Smith Barney LLC. Member SIPC.
Award winners listed by primary services and listed alphabetically by last name. Estate Planning Bradley W. Ohmes · MetLife
Financial Planning
Evan R. Guido · Robert W. Baird & Company Donald Hagan · Day Hagan Asset Management
Nancy Marciniak · Merrill Lynch Renee Martone-Cecil · Ameriprise Financial Services, Inc. Orion Marx · Atlas Financial
— www.fivestarprofessional.com
Robert Clifton Aiken · SunTrust Investment Services
Barry Michael Havener · Janney Montgomery Scott
Kimberly Marie Bleach · U.S. Trust
Michael Havener · Janney Montgomery Scott
Andrew Destin Minor · Merrill Lynch
Rick O. Helbing · Suncoast Advisory Group
Wendy Beth Namack · Namack Portfolio Investment Professionals
Christopher Michael Caledonia · Merrill Lynch James Cooper · Southern Trust Financial Planning
Brent Hillerich · Ameriprise Financial Services, Inc.
Sandra M. Cutcliffe · Ameriprise Financial Services, Inc.
Kenneth Himmler · Integrated Asset Management
Steven Dahlquist · Dahlquist & Associates Page 2
Jay Hoffmeister · Ameriprise Financial Services, Inc.
Charles F. Elzer III · Merrill Lynch
Nathan Johnson · Charles Schwab & Company
Kristopher Flammang · LPF Financial Advisors Matthew Fountain · Ameriprise Financial Services, Inc. Ernie Brian Garcia · Morgan Stanley
F S • 3
SunTrust Investment Services, Inc. 1777 Main St., Seventh Fl. Sarasota, FL 34236 Phone: 941-951-3052 Matthew.Otto@Suntrust.com www.Suntrust.com
David Gordon · Merrill Lynch
Micah Kenneth Keel · Ameriprise Financial Services, Inc. Gary Keller · Ameriprise Financial Services, Inc. Adam Kendall · Morgan Stanley
Karin Grablin · SRQ Wealth Management
Jonathan David Knott · Four Pillars Financial PG/Raymond James
Brian Grogan · Ameriprise Financial Services, Inc.
Joseph Labree · Ameriprise Financial Services, Inc.
Stephen Gross · Ameriprise Financial Services, Inc.
James E. Lowther · Merrill Lynch
Jay McHargue · Merrill Lynch John Michael Mott · Mott and Associates
Sarah Phillips · Phillips Advisory Group Stephen Picazio · Merrill Lynch Alyssa J. Rakovich · Morgan Stanley Jeffrey D. Ranke · Harvest Wealth Management Joshua Sankes · Raymond James Margery Schiller · Goar, Endriss and Walker Judith Skornicka Schwartzbaum · Morgan Stanley Janet L. Sperling · Raymond James & Associates Joel Clyde Swallow · Morgan Stanley Anthony K. Swart · SunTrust Investment Services Owen Thiessen · Merrill Lynch Michael A. Tutcher · Raymond James
Mark Manges · Skybox Asset Management
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Active as a credentialed professional in the financial services industry for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not: A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three customer complaints filed against them [settled or pending] with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; C. Individually contributed to a financial settlement of a customer complaint filed with a regulatory authority; D. Filed for personal bankruptcy; E. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients; 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or awarded. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The award methodology does not evaluate the quality of services provided and is not indicative of the winner’s future performance. 849 Sarasota wealth managers were considered for the award; 146 (18 percent of candidates) were named Five Star Wealth Managers.
ADVER TISING SECTION
Award winners listed by primary services and listed alphabetically by last name. Thomas Urfer · Morgan Stanley Michael Vejins · Raymond James Daniel Wolff · Investment Financial Services Marc Wolff · Southern Trust Financial Planning William Yaegers · Yaegers Financial Services Robert Yan · Merrill Lynch John Zacira · Investors Capital Corporation James Edward Zientara · Raymond James
Insurance
Arthur Stuart Day · Day Hagan Asset Management
Jane Elizabeth McGinty · Robert W. Baird & Company Page 2
J. Ryan Denton · Morgan Stanley
Maryann McMonagle · Morgan Stanley
Matthew DePalma · Capstan Financial Consulting Group
C. Wayne McMullen · Wells Fargo Advisors, LLC
Nicholas Drizos · Horizon Wealth Advisors
Julie Mekhail · Edward Jones
Timothy Glen Dumas · Merrill Lynch
Thomas Meyers · Merrill Lynch
Robert A. Eisenbeis · Cumberland Advisors
John Mousseau · Cumberland Advisors
Nicholas Ryan Feather · Capstan Financial Consulting Group
William Mark Nickles · Capstan Financial Consulting Group
Charles Fortenberry · Robert W. Baird & Company
Jeffrey Nydick · Wells Fargo Advisors, LLC
Alison Gardner · Morgan Stanley
George O’Brien · Morgan Stanley
Jeffrey C. Gartman · Raymond James
Joel G. Oldham · J.L. Bainbridge & Company
Richard Veleber · Thrivent Financial
Paul Harris · Southern Trust Financial Planning
Matthew Otto · SunTrust Investment Services Page 3
Investments
John Hayes · Ameriprise Financial Services, Inc.
Michael A. Paz · Edward Jones
Jerry C. Reimer · Thrivent Financial Urbano A. Rutigliano · MetLife
Joseph Michael Adamchak · Merrill Lynch
James P. Perrone · Wells Fargo Advisors, LLC
Christine Hicks · Morgan Stanley
John Piper · Morgan Stanley
Steven Gregory Albritton · Wells Fargo Advisors, LLC
Thomas J. Hinck · Wells Fargo Advisors Financial Network, LLC
Jay Price · Wells Fargo Advisors, LLC
Paul C. Alexander · Merrill Lynch
Carrie Hulen · Capstan Financial Consulting Group
Anthony Benante · Baron Financial Group Moncef Bennaji · Gulf Coast Wealth Advisors Rebecca S. Bolletti · Morgan Stanley Page 3 Steven Frank Bordes · Merrill Lynch Matthew Borland · Ameriprise Financial Services, Inc. Terence Brian Boyaggi · VALIC Linda S. Brown · Day Hagan Asset Management Paul Douglas Buskey · Robert W. Baird & Company Page 2 Richard Carpenter · Oppenheimer & Company Kristin Carter · Wells Fargo Advisors, LLC
John O. Jones · Merrill Lynch
John Russell Reven · City Financial Corporation
Leslie Anne Juron · Wells Fargo Advisors, LLC
Robert Rosenberg · Rosenberg Asset Management Page 3
Joseph Howard Kennedy · Wells Fargo Advisors, LLC
Jason E. Saikaley · Wells Fargo Advisors, LLC
Paula McCracken Knott · Four Pillars Financial PG/Raymond James
Kip David Schoonover · J.L. Bainbridge & Company
David Kotok · Cumberland Advisors
Daniel Richard Smith · Morgan Stanley
Anastasios Kourpouanidis · Wells Fargo Advisors, LLC
Bret Tackett · Tackett Wealth Management
Michael L. Kreuziger · Ameriprise Financial Services, Inc. Dennis Kruk · Merrill Lynch Jeffrey E. Krupnick · Wells Fargo Advisors, LLC
Dominic Casanueva · Merrill Lynch
Michael Landsberg · Landsberg Bennett Private Wealth Management
Taylor Bushnell Chadsey, Jr. · Morgan Stanley
James Sean Lebaron · Janney Montgomery Scott
Cheryl Christensen · Wells Fargo Advisors, LLC
John Brewster Leeming · J.L. Bainbridge & Company
Brian C. Coffin · Wells Fargo Advisors Financial Network, LLC
Andrew Lowther · Wells Fargo Advisors, LLC
John Colon · Wells Fargo Advisors, LLC
Nicholas Magero · Wells Fargo Advisors, LLC
Sheryl Nessel Cruz · Northern Trust Ralph John Cushing · Edward Jones
Ivan A. Ramirez-Ramirez · The Hoskins & Ramirez Group
Thomas McDonald · Capstan Financial Consulting Group
— www.fivestarprofessional.com
Charles Anthony Alario · Robert W. Baird & Company
Jared Weston Hermann · Morgan Stanley
2014 Five Star Wealth Managers
Bruce S. Udell · Udell Associates
Trevor Taylor · LCM Capital Advisors Michael James Terry · SunTrust Investment Services Mark Usher · Wells Fargo Advisors Financial Network, LLC Christopher M. Vining · Morgan Stanley John Raymand Vita · Morgan Stanley Mitchell Walk · Retirement Wealth Specialists David C. Whaley · Wells Fargo Advisors, LLC Derek Williams · Williams Wealth Management Group
Taxation Greg Chona · Ameriprise Financial Services, Inc.
Paul McFeeley · Oppenheimer & Company
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and the federally registered CFP (with flame logo) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. The Chartered Financial Consultant credential [ChFC®] is a financial planning designation awarded by The American College.
F S • 4
FOR 2015 TIPS FROM LEADING LOCAL EXPERTS
CS&L CPAs
Q. How important are wills,
trusts and estate planning for business owners? Estate planning is essential. All business owners must eventually leave their business, whether it is voluntarily, due to incapacity, or death. Wills, trusts and other estate planning tools are critical to prevent family disputes, plan for estate taxes and prevent the courts from determining the future of your business. Proper business succession planning will ensure the business continues to operate seamlessly and value is maintained. -Aubrey Lynch, CPA
Q. What is the single most
important “tip” you would give small business owners? The single most important tip is not to neglect your accounting and recordkeeping. There are many state, local and federal reporting requirements and regulations; proper accounting and recordkeeping are vital to ensure you are in compliance and do not endanger your small business with penalties or liens. Many people overlook this essential function, which can be a costly mistake, especially for a small business. -Aubrey Lynch, CPA
Q. When should a business
owner consider hiring a CPA? Business owners are focused on their product or client. Proper accounting is vital, but may be a timeconsuming process for an already busy owner. An accountant will not only save you money on taxes by finding deductions only a professional might recognize, but a good CPA also provides strategic guidance and advice on your entire financial situation, becoming a valuable resource as your business grows. -Lisa Johnson, CPA
1515 Ringling Blvd., Suite 900 Sarasota, FL 34236 (941) 954-4040 CSLcpa.com Contact: Marissa Rossnagle, Marketing Director
80 BIZ(941) NOVEMBER | DECEMBER 2014
‘TIS THE GIVING SEASON November and December mark yearend giving campaigns. Here’s what the IRS wants you to know. To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return. These forms and publications are available at irs.gov or by calling 800-TAX-FORM (800-829-3676).
Everyone is Different
We don’t believe in cookie-cutter solutions. Your background, family, goals, needs, career and future plans are unique to you. We embrace the opportunity to develop customized plans for our diverse clients. CS&L CPAs is an award-winning accounting firm that has been serving Sarasota and Manatee Counties for over 60 years.
Download our free tax guide at www.CSLcpa.com
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CPA PARTNERS: Allan Lichtenstein, CPA Mark Briefman, CPA Kim Gardner, CPA Tom Thomas, EA
941.366.3737 • www.Lbgcpa.com www.facebook.com/LBGcpa
Lichtenstein, Briefman & Glass, CPAs Q: What do businesses need to
know about the tax liability of independent contractors?
Beware the determining factors in classifying employees vs. independent contractor. “Control” over the worker is the overriding principal. Businesses prefer to classify workers as independent contractors to save on employment taxes. However, recently this has become an area of IRS scrutiny. The IRS has a “Voluntary Program” to reclassify workers as employees on a future basis and obtain 90 percent relief of any past tax liabilities. Contact: Kim Gardner, CPA
Q: What are the tax law
requirements for business recordkeeping? Tax law requires all businesses to keep records to support gross
income, deductions and credits claimed on their tax returns. Generally, returns can be audited up to three years after filing. However, if income is underreported by more than 25 percent, the IRS can collect underpaid taxes up to six years later. We recommend businesses retain all tax records for seven years after the original filing. Contact: Tom Thomas, EA
TAX TRIVIA 2 The average tax refund is almost $3,000. 2 To be in the top 1 percent of earners nationally, you’ll need $369,509 of annual income. To be in the top 10 percent of income earners, you’ll only need $116,555. 2 Roughly 7,000 millionaires didn’t pay any income tax in 2011.
2501 S. Tamiami Trail Sarasota, FL 34239 (941) 366-3737 Lbgcpa.com Contact: Kim Gardner, CPA, and Tom Thomas, EA
82 BIZ(941) NOVEMBER | DECEMBER 2014
2 More than 11,000 individual tax returns reported adjusted gross income above $10 million. SOURCE: forbes.com/sites/ robertwood/2013/03/24/13-surprisingfacts-about-your-taxes
Celebrating 20 Years
Daniel J. Forssell, AAI
Brett M. Lacey
More Options. Better Choices. That’s Benefit Advisors! • Reliable employee benefits consulting • Committed to acting in YOUR best interest • Focused delivery of our proven expertise 2007 Manatee Chamber Small Business of the Year
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Follow Our Alerts @ CareerSourceSC An equal opportunity employer/program. Auxiliary aids and services are available upon request by individuals with disabilities via the Florida Relay System at 711. careersourcesuncoast.com
Pat Mathews
NOVEMBER | DECEMBER 2014
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The Seen
Photography by Chris Fitzgibbons
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Biz(941) People To Watch 1 Chip McCarthy, IMG Academy; Brigitte McCarthy; Anand Pallegar, atLarge and PINC, Sarasota 2 Kelley Lavin, Biz(941) and Sarasota Magazine; Tim Hearon, Boomerswork; Alexandra Hearon 3 Mike Rosario, WBTT board of trustees; Arlene Greene 4 Susan Brennan, New York Private Bank & Trust 5 Jamie Carver and Colleen Carver, Blake Medical Center 6 Karin Murphy; Urban Design Studio 7 Nate Jacobs, WBTT 8 Christie Busch, Biz(941); Marissa Rossnagle, Kinga Huse, CS&L CPAs 9 Katrina Anderson, Antonia Ripo, USF 10 Octavio Ortiz, The Mall at University Town Center; Jessica Ortiz; Gabriele Vest, Grapevine Communications; Ben Bakker, HJB Properties
➜ More Seen photos at biz(941).com.
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The Seen
Photography by Lori Sax
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CareerSource Annual Meeting 1 Dennis Baker, CareerSource Suncoast; Frank Kovach, Kovach Air 2 Larry Face, Next Level Achievement; Lee Kotwicki, SCF 3 Margie
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Genter, Goodwill Manasota; Brian Arcuri, CareerSource Suncoast 4 Jerry Marlar, Mauldin & Jenkins; Sharon Hillstrom, Bradenton Area EDC 5 James Taylor, John Hancock Financial Network; Mary Helen Kress, CareerSource Suncoast; Dale Vollrath, TRC Staffing 6 Jodi Pisillo, Alberto Serino, Melissa Miner, PGT Industries
➜ More Seen photos at biz(941).com.
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The Seen
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SCOPE Boundary Crosser 1 Mary Kenealy, Mary Kenealy Events; Joe Barbetta, Sarasota County Commissioner; Ping Faulhaber, Suncoast Science Center 2 Dr. Larry Thompson, Ringling College of Art and Design; Joan Haber, SCOPE 3 John Ferrari, attorney; Rebecca Lane; Sam Stern, CAP Brand Marketing 4 Cathy Layton, SCOPE Boundary Crosser 5 Anne Rollings, Gecko's; Regina Hopper, ABC7
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Volume 11/Number 6, November/December 2014, Biz(941) (ISSN 1936-7538) is published in January, February, April, June, September and November, six times a year, by Gulfshore Media, LLC, 330 S. Pineapple Ave., Suite 205, Sarasota, FL 34236. Subscriptions are free to qualified individuals. For customer service inquiries, subscription inquiries or to change your address by providing both the old and new addresses, contact: Subscription Department, Biz(941), 330 S. Pineapple Ave., Suite 205, Sarasota, FL 34236. Phone (941) 487-1100 or (800) 881-2394, Fax (941) 365-7272. Periodicals postage paid at Sarasota, Florida, and at additional mailing offices. Copyright 2014 by Gulfshore Media, LLC. No part of this publication may be reproduced without written permission from the publisher. Unsolicited manuscripts without return postage will not be returned. DISCLAIMER: Advertisements in the publication do not constitute an offer for sale in states where prohibited or restricted by law.
POSTMASTER: Send address changes to Biz(941), 330 S. Pineapple Ave., Suite 205, Sarasota, FL 34236. NOVEMBER | DECEMBER 2014
BIZ(941) 87
By Ilene Denton
MATTHEW HOLLER
Off the Clock
“This morning I was up at 5:30 and ran about nine miles before work.”
WILL ROBINSON
Ironman
Attorney Will Robinson makes a case for competitive running. BRADENTON ATTORNEY, serial marathoner and Ironman triathlete Will Robinson, 39, came by his love of running naturally. The Manatee County native’s uncle and grandfather founded Robby’s Sporting Goods in the early 1970s, merging it with Champs Sports a decade
later; and his father and younger brother founded the running retailer, Fit2Run, in 2005. Robinson, a real estate attorney with Blalock Walters, has competed in four marathons of 26.2 miles each, two ultramarathons of 50 miles each, five half-Ironman competitions
88 BIZ(941) NOVEMBER | DECEMBER 2014
and one full Ironman (a 2.4-mile swim, 112-mile bike ride and 26.2-mile marathon, all on the same day). Robinson sometimes brings a pen along on his morning runs and jots notes on his wrist. “I think through my cases when I’m running. I’ll plan out my day that way,” he says. This summer, Robinson was training for the Ironman 70.3 in Augusta, Ga., that took place in late September. “This morning I was up at 5:30 and ran about nine miles before work; if I don’t get it before work, it doesn’t happen,” he says. Robinson takes one day off each week. “Non-triathletes think I’m crazy. One of my good friends is an orthopedic surgeon; he says I’ll be his most frequent patient in 30 years.” A favorite running spot is the Robinson Preserve in northwest Bradenton, a 487acre waterfront park donated to Manatee County by his family. “I just love going out there” and seeing people enjoy the park, he says. “That’s the nice part about running. People are happy, they’re doing what they love to do.” ■
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