Equipment Leasing & Finance Foundation Elects Officers, Welcomes New Trustees, and Presents Research Award During Annual Meeting

Washington, DC, December 2, 2021 – The Equipment Leasing & Finance Foundation (Foundation) announced the 2022 officers of its Board of Trustees (Board). Board Officers serving are Nancy Pistorio, President, Madison Capital LLC as Chair, and the first woman to hold the position; Zack Marsh, CFO, Orion First Financial, LLC as Vice Chair; Jeffrey Berg, Global Business Unit President – Advanced Solutions, DLL, as Secretary/Treasurer; and Ralph Petta, President and CEO, Equipment Leasing and Finance Association (ELFA) as President. Scott Thacker, Chief Executive Officer, Ivory Consulting Corporation, is Immediate Past Chair.

New members appointed to the Foundation Board of Trustees include Peter Bullen, Executive Vice President, Key Equipment Finance; Mark Loken, Vice President, Credit, Farm Credit Leasing; and Nancy Robles, Chief Operating Officer/Compliance Officer, Eastern Funding LLC.

“The Foundation’s 2022 Board brings a wealth of leadership and industry experience to their roles as Trustees” said Nancy Pistorio. “We are privileged to have such talent, commitment and expertise serving the Foundation and its mission for the advancement of the equipment finance industry.”

Trustees continuing on the Board for 2022 are:

  • Katie Emmel, Chief Operating Officer, Solifi
  • Christopher Enbom, CEO & Chairman, AP Equipment Financing
  • Valerie Gerard, Co-Chief Executive Officer, The Alta Group LLC
  • Miles Herman, President and COO, LEAF Commercial Capital Inc.
  • Shari Lipski, Principal, ECS Financial Services, Inc.
  • Brian Madison, President, TrinityRail Leasing and Management Services
  • William Tefft, SVP Asset Management, Pacific Western Bank
  • Thomas Ware, President, Tom Ware Advisory Services, LLC
  • Bonnie Wright
  • Donna Yanuzzi, Director of Equipment Finance, 1st Equipment Finance

Kelli Nienaber will continue to serve as Executive Director.

Steven R. LeBarron Award
Research Committee Chair Thomas Ware honored James M. Johnson, a Foundation Trustee for more than 25 years and prolific contributor to the body of knowledge of the equipment finance industry, with the Steven R. LeBarron Award for Principled Research. Throughout his 40-year-long involvement with the Foundation, ELFA, and ELFA’s precursors, Johnson cofounded the Journal of Equipment Lease Finance (JELF), contributed 25 articles and continuously served on its Editorial Review Board since its inception, reviewing dozens of articles. He developed and delivered the first Principles of Leasing workshops, and authored two books on “Fundamentals of Finance for Equipment Lessors” with ELFA. This award is presented annually in memory of LeBarron to the Research Committee member who demonstrates the insight, fortitude, and dedication he exemplified.


The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through individual and corporate donations. Learn more at

Media Contact: Charlie Visconage,