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Message From the Executive Director
Another year, but not another year-end fundraising report. We are thrilled to report that the Foundation fundraising effort exceeded our expectations. So, instead of listing all the wonderful benefits donors enjoy or list all the strategic, forward-looking research we conduct, I simply wish to acknowledge you - the volunteers and donors - who have made the Foundation the organization it is today.
Thanks to you we are able to tackle many new important industry topics in the coming year. We appreciate the opportunity to offer you projects and studies that we hope will always exceed your expectations. Wishing you and yours a safe and peaceful holiday and New Year. See you in '08!
Lisa A. Levine, CAE
Executive Director
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| Foundation Enjoys Record-Setting Year
The Foundation has set a record! In 2007, more than $500,000 in donations was raised. Not bad for an organization that, just three years ago, raised $150,000. This last yearŐs donations are about $100,000 more than anticipated.
"The increase in donations just goes to show you how the equipment finance and leasing industry is viewing the Foundation and what it does," says Henry Frommer, who heads up the Foundation's national development committee. "Clearly, industry members are viewing their contributions as an investment." Frommer is Senior Vice President and Managing Director of Wells Fargo Equipment Finance, Inc.
Photo of Henry Frommer & Mike Leichtling During the Foundation Luncheon at the 2007 ELFA Annual Convention
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| Groundbreaking Study FindsÉ
Equipment Finance Market Reaches $600 Billion!
Groundbreaking findings in a new report, US Equipment Finance Market Study, issued today, reveal the most accurate picture yet of the domestic equipment finance sector: of the $1.1 trillion invested in plant, equipment and software in 2006, 55 percent or $600 billion is financed through loans, leases and lines of credit according to the study released by the Equipment Leasing & Finance Foundation (the Foundation).
The study was conducted by Global Insight Inc. at the request of the Foundation.
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| Strategies for Predicting Default Study Debuts
 Avoiding bad credit risk is a basic business performance activity for equipment finance companies, and the ability to forecast which transactions will fall into default results in a competitive advantage. A new Foundation study, Strategies for Predicting Equipment Lease Defaults, offers a more effective method for forecasting defaults.
"The Foundation paper explored ways to use the models and techniques from other areas of the finance industry to provide additional insight and value to industry members," says Melisa Carter, Foundation board member, from Key Equipment Finance.
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| New Foundation Board Takes Their Place
The Foundation Board of Trustees provides oversight, strategic direction, vision, and, above all, time and energy to ensure the Foundation's projects and efforts meet industry demand for future-forward, independent, original research. The Foundation has been fortunate to have leaders from the top of the field participate, and 2008 will be no exception.
For the second year, Michael Leichtling, Troutman Sanders LLP, will chair the Foundation board. Joining him on the Executive Committee is Debbie Monossoon, Boston Financial & Equity Corporation who will serve as vice chair; Paul Frechette, Sun Microsystems, Inc., as treasurer; Joe C. Lane as immediate past chair; Ken Bentsen, Equipment Leasing and Finance Association as President of the Foundation; and Ed Groobert, Dykema & Gossett PLLC, as secretary.
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| Foundation Research Agenda Grows and Grows
When the Foundation Board met this fall, members spent two days talking about the future and research projects the Foundation should consider. A plethora of ideas were shared, many of which will be explored further, funded and ultimately developed into research studies. "We have been brainstorming on our 2008 research agenda," said Research Committee Chair, David Wiener of GE Capital Markets Group. "Many, many ideas have emerged, which we will now prioritize and introduce to our researcher community for their feedback."
As the board continues its conversations and prioritization of projects, several topics that rose to the top included "lessons learned from the sub-prime market," transportation, and bundled services.
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| International Research Series Debuts in '08
In October, the Foundation approved funding for an "international series" of studies. Due to the success of the 2005 Foundation study, "Breaking Down Great Walls of China" study, the Foundation will deliver four papers throughout 2008 (one every two months) on the following countries: India, Brazil, Hispanic Latin America, and Mexico.
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| Quick Poll
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| Did You Know?
Of the estimated $1.09 trillion dollars in public and private investment in equipment and software in 2006, $598 million (55 percent) was financed.
Source: Equipment Leasing & Finance FoundationŐs 2007-2008 U.S. Equipment Finance Market Study.
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