Episode 2
Recorded on June 14th 2023
Show Summary
This program focuses on options for adding efficiency, security and joy to all your dealings with complex ownership structures and charitable donations.
About the Moderator
John Castrucci, National Director, Family Office Advisory Services, RSM US LLP
John works in RSM’s Family Office practice and has over 30 years of family office advisory experience including over 10 years of public accounting experience, covering family office tax and family office advisory services in the areas of individual tax, family office structuring, leading practice reviews, risk practice & procedural reviews, legacy planning, governance advisory, family office design, and technology search and selection initiatives.
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John also has 10+ years of experience at Private Wealth Management & MD at a Global Multi-Family Office (MFO) as regional managing director running & overseeing wealth transfer strategists and a founding member of a financial institutions MFO task force. John served in C-suite roles as CEO, CFO, and COO of Multi-generational Global Single-Family Offices (SFO).
Professional affiliations and credentials
• Certified public accountant.
• Family Office Committee of New York State’s Society of CPA’s (NYSSCPA’s), Founding Member.
• SFO Investment & Governance Committee Member, Trust & Corporate Officer, Foundation Board Member, Socially Responsible Investment and Philanthropic Entity Board Member.
Education
• Bachelor of Business Administration, public accounting, Pace University – Lubin School of Business.
About Giving Place
Represented by Paul Lussow, Founder
Giving Place is the first-ever software for optimizing all forms of charitable giving with easy-to-use tools to help organize, plan, and execute all giving activity. It’s one portal, one process, for any charitable vehicle – cash, donor-advised funds, private foundations, and more – plus grant tracking, reporting, forecasting, and other analytics for a family’s complete giving.
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Forget the hassles of managing complex and large-scale philanthropy in spreadsheets, or using software designed specifically for managing a particular type of giving. Giving Place removes the burdens of administering charitable gifts, making giving easier and more rewarding.
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Paul Lussow is the Co-founder and CEO of Giving Place. Giving Place was created for the unique needs of family office philanthropy and major donors. Prior to founding Giving Place, Paul spent nearly a decade on Wall Street as an investment banker at Credit Suisse. Paul left a fruitful career there to work in the impact sector for Laureate Education, which at the time was the largest provider of higher education in the world with nearly one million students across 29 countries. Since 2018, Paul has been engaged in the family office sector as an operating partner, advisor and solution provider. Paul and his family have lived and worked in New York (NY), Miami (FL), Istanbul (Turkey), and Chicago (IL) and currently reside in Colorado. Paul has a BA in History from Northwestern University and an MBA from the Wharton School of the University of Pennsylvania.
About Orca
Represented by Tomas Hurcik, Co-Founder & CEO
ORCA is the easiest, fastest, most intelligent and secure way for anyone who owns or manages ownership structures to fulfil all their tax, legal, compliance and corporate secretarial obligations.
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Founded in Zurich, Switzerland in 2017, ORCA’s proprietary software is actively used by hundreds of the world’s leading families, family offices, investment firms (PE, VC, RE etc.), trust firms, law firms and corporations across 20 countries.
Our ambition is to become the global best practice for retrieving, organizing and sharing all the must-have information for legal structures. We are building the future of legal entity management and governance.
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Tomas has spent his entire working life in startups. Two IPOed, one failed.
He is a strong believer in the power of focus. His favourite book is "Essentialism: the disciplined pursuit of less" by Greg Mckeown. Key quote: “Essentialism is not about how to get more things done; it’s about how to get the right things done. It doesn’t mean just doing less for the sake of less either. It is about making the wisest possible investment of your time and energy in order to operate at our highest point of contribution by doing only what is essential.”
ORCA is all about applying the principles of Essentialism to administering legal structures.
Show Breakdown
00:00 - Opening remarks
03:45 - Introductions
08:00 - Journey behind Orca and Giving Place; significance of the names
13:40 - Core values and proposition
19:05 - Leveraging flexible visuals to share the right information with multiple stakeholders
27:30 - Who are your clients and users of the platform? Which markets do you cover?
30:00 - Closing compliance and information gaps through automation
35:00 - Integrations with accounting and portfolio reporting systems
42:20 - Integrations with GuideStar, DAFs and impact measurement tools
45:30 - Involving the Next Generation
52:00 - Data security
54:20 - Implementation
58:40 - Pricing and client base
1:00:45 - Future expansion and closing remarks
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