September 2019: Advancements and Invited Talk “Research & Development Tax Credits”

Todd JardenAt its first Chapter Meeting of the season, Philadelphia Chapter President Todd Jarden thanked outgoing President Megan Salehli and introduced the 2019-20 Board of Governors: 1st VP Walter O’Connell, 2nd VP John Carroll, Smith-Klein-CataneseTreasurer Frank Merenda, and Treasurer Michael Cunningham. Mr. Cunningham said he was finalizing plans for a special Fall Social/Networking Event to be held on October 23 at Ladder 15. Mark your calendar!

The Chapter had three advancements to celebrate in September. Jamar Smith, now a Vice President at Duff & Phelps in Houston, Tx, earned the ASA designation in Machinery & Equipment. Also earning his Michael Procaccini.pngASA, but in Real Property, was Robert M. Klein, a Director at Cushman and Wakefield. And rounding at the troika, was Matthew J. Catanese, Transaction Advisory Services Manager at Ernst & Young, who now holds the AM designation in Machinery & Equipment. Congratulations all around!

The Guest Speaker was Michael J. Procaccini CPA/Engineer, CEO and Managing Partner of the Algorithm Tax Group, headquartered in Warwick, RI. Mr. Procaccini delivered a well-received talk on “Research & Development Tax Credits” and answered questions afterward.


2018: Golashovsky Awarded FASA Designation, ASA’s Highest

Susan Golashovsky has long distinguished herself as a knowledgeable and accomplished appraiser and by her extensive service for the American Society of Appraisers (ASA) at all levels. At its International Appraisers Conference in Anaheim in October 2018, the ASA recognized Ms. Golashovsky’s achievements and service by elevating her to its College of Fellows, marked by the prestigious FASA designation.

Susan Golashovsky, FASAMs. Golashovsky, who is the principal of her eponymous Doylestown, PA appraisal firm, has studied antiques and Decorative Arts both nationally and internationally. She has earned four ASA designations in Personal Property and has lectured publicly about the appraisal profession, antiques, and the decorative arts, She has also developed and presented several connoisseurship seminars and webinars on decorative arts topics.

Ms. Golashovsky has served ASA at all levels from Chapter President to International President (2016-17) and has chaired or sat on various committees. She currently serves on the International Board of Examiners and the Personal Property Committee among others. She also has been active locally in the Doylestown Toastmasters and in the Bucks County Antiques Dealer’s Association. (Read more in the ASA press release.)

2018: Chapter President Salehli Gets ASA Rising Star Award

The Board of Directors of the Philadelphia Chapter is pleased to announce that its 2018-2019 Chapter President, Megan Salehli, ASA, is one of six winners of the 2018 Rising Stars Award.

Rising Stars Award

The award honors the brightest young valuation professionals who have demonstrated success throughout the fiscal year. The six winners, who were selected from over 30 nominees by the national Rising Stars Committee, will receive free registration to ASA’s Joint 2018 Advanced Business Valuation and International Appraisers Conference and will be recognized at the Membership Meeting and Awards Luncheon.

Megan Salehli, ASA, Chapter President and Rising Star Award winner.

In presenting the Award to Megan Salehli, a Principal in the Philadelphia office of Asterion, International President Robert B. Morrison, ASA noted: Megan specializes in valuation and economic damages and provides consulting services in a variety of matters requiring the investigation and evaluation of financial and economic data and determination of value. Ms. Salehli is part of ASA’s Philadelphia Chapter and has been an ASA member for more than 8 years. She contributed to the chapter by arranging speakers and managing the transition of the chapters banking and file system.


May 2018: An Evening at the Rosenbach Museum

Rosenbach Museum Library

In the Rosenbach library: Docent talks with Chapter members about Shakespeare and James Joyce originals.

The May Chapter Meeting, on Tuesday, May 15, 2018, included a buffet dinner and private tour of the Rosenbach Museum and Library. Chapter Members viewed the current exhibit — Of Two Minds: Creative Couples in Art and History — and browsed the collections of books and memorabilia donated by Maurice Sendak and the poet, Marianne Moore. Enjoying the exquisite displays of decorative arts as they toured the two well-maintained Rosenbach townhouses, the members ultimately stopped in the Library stuffed with rare books and manuscripts and manned by an engaging docent.

April 2018: ASA Philadelphia Chapter Business Valuation Seminar

2018 Business Valuation SeminarOrganized by Chapter President Sheila Gorman, ASA and Frank Merenda, ASA, who organized the award-winning 2017 edition, the 2018 Business Valuation Seminar again provided eight (8) hours of Continuing Education Credit (CEC), while breaking new ground. The one-day seminar featured five unique sessions presented by seven key thought leaders.

  • James Hitchner talked about rigging a valuation and introduced new tools for calculating the discount for lack of marketability (DLOM);
  • Roger Grabowski gave an update on estimating the cost of capital;
  • Mitchell Gerstein and Laura Anastasio explored the impact of the recent tax cuts and the Jobs Act on business valuations;
  • Charles Sapnas and Anthony Pumphrey reviewed best practices in inventory valuation;
  • Martin Abo closed the session with his thoughts about taxes on damage awards arising from litigation.

Comments from participants ranged from “Can’t wait until next year!” to “Best BV seminar ever!”

January 2018 Breakfast Meeting: Luciani Gets Sinclair Award; Dornstreich Talks Financial Planning

The Chapter’s January Breakfast Meeting was held on Wednesday, January 17, 2018, at the Doubletree Guest Suites in Plymouth Meeting, PA. The Annual Breakfast Meeting, which was free for Members, kicked off the New Year with a Sinclair Award presentation and a timely talk on Financial Planning for Turbulent Times.

2017 Sinclair Award
Sheila Gorman presents Sincliar Award to Robert LucianiChapter President Sheila Gorman said she was honored to present the 2017 George D. Sinclair Professionalism Award to longtime Chapter Member — and booster — Robert J. Luciani, ASA. The Award was created in memory of George D. Sinclair, FASA, (1925-2005), who served his family, his church, his Chapter and the appraisal profession with uncommon ability and zeal. Like the 2017 recipient of the Award, Mr. Sinclair was accredited in Real Property and served ASA and other appraisal groups locally, nationally and in multiple capacities.

Mr. Luciani, who is a graduate of the Real Estate Institute at Temple University, where he now teaches, has over 30 years experience as a Real Estate Appraiser and a Real Estate Broker. He has served the ASA and our sister organization, NAIFA, in leadership roles both locally and at the National level. An Appraiser Qualification Board Certified Instructor, Bob is a well-regarded and popular instructor for NAIFA and ASA-sponsored courses on topics ranging from comparable sales to appraisal law. A strong supporter of ASA, He sees it as the way for appraisal professionals to gain the experience, education, and outreach they need to succeed.
Elijah Dornstreich
As a teacher, mentor, and real property professional, Robert Luciani is both honored by and does honor to the award. Congratulations to Robert, the 2017 recipient of the Sinclair Award!

Elijah Dornstreich on Financial Planning
The guest speaker was Elijah Dornstreich, a Vice President at Bernstein Global Wealth Management in Philadelphia. Mr. Dornstreich’s talk — “All The Right Moves: Financial Planning in a Turbulent World” — was timely and well-received.

Mr. Dornstreich discussed the factors contributing to the continuing stock market rally — and what could derail it — with a view toward investment and retirement planning. He offered an approach to planning that he said will be successful, even in adverse markets.

November 2017: Installation of Officers, Delmar Advancement, Burton on International Business Valuation

The November Chapter Meeting was held on Wednesday, November 15, 2017, at Pipeline Philly in Philadelphia.

2017 InstallationDelmar AdvancementIn the photo at left, outgoing President Andrew Sherriff, far right, administers the oath to 2017-2018 Officers (from left to right), First Vice President Megan B. Salehli, incoming President Sheila Gorman, Third Vice President Todd C. Jarden, Second Vice President Walter W. O’Connell. Not pictured: Secretary/Treasurer John P. Carroll.

In the photo at right, Chapter President Sheila Gorman presents the ASA Certificate to Shea Delmar, ASA who advanced from Candidate to ASA in Machinery and Technical Specialties/ Machinery & Equipment. Mr. Delmar, who has over 10 years experience in the appraisal industry, heads the valuation group in personal property in the Philadelphia office of Grant Thornton.

Barton Talks International BVAbove, Guest Speaker (and Chapter Member) John Barton, President of Brandywine Valuation Consultants in Lyndell, PA, brought other Members up to date on advanced “Topics in International Business Valuation.” John’s illuminating talk was well-received!

October 2017: Oktoberfest Happy Hour

The Philadelphia Chapter sponsored an Oktoberfest Happy Hour on Thursday, October 5, 2017, at Frankford Hall in Philadelphia.

October Fest 2017 1
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October Fest 2017 4

Appraisers from all disciplines and their guests gathered at Frankford Hall to talk shop, reminisce and enjoy an Oktoberfest-themed menu featuring an Open Bar and German staples, including bratwurst, potato pancakes, and Bavarian pretzels.

May 2017: Cars & Cocktails at the Simeone Auto Museum

The May 2017 Chapter Meeting was held at the Simeone Foundation Automotive Museum in Southwest Philadelphia. The meeting featured a talk, tour and cocktail reception with retired neurosurgeon Dr. Frederick Simeone, the Museum’s founder.

Dr. Frederick Simeone
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Simeone Museum 2
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Simeone Museum 5

The Museum includes sports cars from the first international road races of the 1900s to competition vehicles from the 1970s. Displayed in dioramas, like those at a natural history museum, each of the 65 historically significant cars is an original, not a copy or replica. All parts are original!

For Dr. Simeone, “cars are not always just hobby things. They are representative of certain times and places in history.” “Cars,” he says, “are emotional items and … really worth studying as history.”

And fun to drive, too, but you knew that.