From the Executive Director
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Happy 30th Anniversary FEA!
August 17
th marked the official 30
th anniversary of the Federation of Exchange Accommodators. Thirty years later, we are still in awe by the foresight of our founders and early leaders and how their vision has proven to be spot on to the future needs of our association. We asked a number of past and current volunteer leaders and staff members to share with you some insight on how some of our most important initiates came to be. Below read about them.
While you’re in a nostalgic mood, read about
FEA’s History and check out the long list of outstanding past presidents.
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Evolution of the FEA Model Law
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by Tim Egan, FEA Executive Director 1989 - 2005
Virtually from the inception of FEA in 1989, the idea of either a federal or state model law has been an active topic of discussion, especially in light of numerous state attempts to regulate exchange accommodators due primarily to various 1031 trust losses over the years. Shortly after FEA was formed, we were confronted in 1990 with the failure of San Diego Realty Exchange which attracted the attention of the California Department of Corporations and San Diego District Attorney.
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Williams & Jensen LLP Joins the Fight
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by Mary Cunningham, CES®
In the mid-1990s, the Clinton Administration proposed to modify IRC Section 1031 to change the like-kind standard to “similar or related in service or use” – the same standard that applies to involuntary conversions of property. Practitioners in the 1031 industry recognized that a restricted definition of “like-kind” would dramatically affect the nascent industry and immediately formed a loose coalition to address the problem.
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by Stephen A. Wayner, Esq., CES®
PACs (Political Action Committees) have been around since 1944. The FEA’s PAC was founded in July of 2006. I was its first chairman. Wow—more than 13 years ago. We ask for voluntary contributions. In fact, our PAC is categorized as a connected trade association PAC, which means that the law requires members of the FEA to sign and/or execute a prior authorization form before any employees of the member-corporation can be solicited by FEA PAC.
When we first started the PAC, I initially came up with additional ideas to raise funds. I thought we could have a silent auction at our annual conference or have a raffle. I was able to obtain from a number of our members some wonderful gifts (vacation trips, air fares, tickets to major sporting/entertainment events, gift certificates, etc.) Unfortunately, I was informed that this kind of fundraising is very restricted under state law and IRS rulings. So, we are left with asking you to sign the prior approval form printed below, if you have the authority to represent your company. The company may not approve a solicitation by any other trade association for this year.
For additional information on the PAC, contact PAC Chairman,
Bill Horan
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Passion of our Board and Committee Chair Volunteers
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by Hugh Pollard, Esq., CES®
Everything costs. Money, time or both. Given a choice, we often prefer to write a check rather than give up our time. Thankfully, FEA volunteers are a different breed. They willingly give their valuable time for the betterment of the Association and the exchange industry. Time for meetings, conference calls, planning seminars, presenting at seminars, lobbying (state and federal), and more.
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Importance of 1031 Tax Reform Web Site and Coalition
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by Bill Horan, CES®
Tax Reform Web Site
Our 1031 tax reform web site,
www.1031taxreform.com
, was launched in the early days of the tax reform process when FEA understood the need to have a website dedicated to saving 1031 exchanges. After researching other associations which had dedicated websites to particular lobbying efforts, we copied the best ideas.
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The Value of the CES
®
Program
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by Margo McDonnell, CES®, CRE
The Certified Exchange Specialist® (CES®) Program was launched in 2003 to provide consumers another way to evaluate QIs before deciding who would facilitate their exchange. In a largely unregulated industry, it was an independent way to verify one’s knowledge and application of Section 1031.
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Affiliate Membership Provides Win-Win
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Affiliate members provide a product or service a QI can use to effectively run or grow their business and/or provide value to their clients. Having a list of companies available that are members of the FEA make that “shopping” process easier for our QI members and FEA leadership regularly encourages our members to use “Affiliates First” because they are the companies who support the FEA, its members and the 1031 industry through membership dues, conference sponsorships and voluntary additional contributions. This incoming revenue allows the FEA to keep the cost of registration fees and annual membership dues lower. Our QI members are encouraged to visit all of our annual conference sponsors and thank they from their support and learn more about their products and/or services.
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Help Promote the FEA's 30th Anniversary
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This milestone calls for a celebration and a commemorative logo. We encourage each of our members to take advantage of this opportunity and:
- Add the logo to your email signature.
- Put it on your website and share you are a proud member of FEA.
- Include it in a company newsletter, email blast and written communications.
- Take the 30th Anniversary Press Release and use this opportunity to share with your clients that you care about the 1031 industry and gain professional growth by being an FEA member.
You can download various versions in the Members Center on the
website or click
here.
Be proud of your association!
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FEA 2019 Annual Conference –
There's Still Time to Register
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FEA Annual Conference
Big Ideas in the Big Easy
September 11–13, 2019
#FEA2019Annual
The Roosevelt New Orleans
130 Roosevelt Way
New Orleans, LA 70112
There is still time to register and walk-ins are welcome.
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ExchangeRight Real Estate, LLC
3950 Cobb Parkway, Suite 302
Acworth, GA 30101
(866) 721-1031 Phone / (877) 711-4047 Fax
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Lockton Insurance Brokers, LLC
Three Embarcadero Center, Suite 600
San Francisco, CA 94111
(415) 568‐4106 Phone / (415) 992‐4106 Fax
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FEA thanks our Affiliate Members for their support of our FEA members and the 1031 exchange industry. In return, FEA members are encouraged to support our Affiliate Members.
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1031 Investment Services LLC
(845) 534-6818
Axos Bank
(858) 732-1381
Back Nine Apartment Investors
(773) 272-5020
BankUnited
(914) 305-9428
Cantor Fitzgerald & Co.
(917) 476-9393
Capital One
(631) 304-3061
Capital Square 1031
(804) 290-7900 Ext 132
Clark Wealth Strategies, Inc.
(402) 504-3531
Colorado Financial Service Corporation
(303) 962-7267
Customers Bank, CB Private & Commercial BKNG-NY
(212) 843-2488
Effective 1031 Planning
(888) 251-3004
ExchangeRight Real Estate, LLC
(855) 317-4448
Independent Bank of Texas
(469) 301-2791
Inland Real Estate Group
(630) 218-4953
Kay Properties & Investments, LLC
(310) 404-7297
Lockton Insurance Brokers, LLC
(415) 568-4106
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Luther Burbank Savings
(858) 436-1830
Meltzer, Lippe, Goldstein & Breitstone, LLP
(516) 747-0300
MUFG Union Bank, N.A.
(312) 601-3956
Nano Banc
(858) 880-5900
Northern Bank and Trust
(781) 569-1852
Passco Companies, LLC
(949) 263-7904
Peak Financial Company
(720) 443-4265
Peregrine 1031 Energy Partners
(214) 483-1997
Robbins May & Rich, LLP
(910) 692-4900
Seacoast Commerce Bank
(760) 550-2030
Signature Bank
(646) 822-1946
Stan Johnson Company
(646) 778-5560
Syndicated Equities
(312) 640-9028
TriState Capital Bank
(412) 304-0464
Umpqua Bank
(818) 254-3492
Wilmington Trust
(302) 636-6019
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BciCapital, Inc.
Orlando, FL
Commercial Exchange, Inc.
Beverly Hills, CA
Four Springs Capital Trust
Lake Como, NJ
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Infinity Exchange Services
Gilbert, AZ
National 1031 Exchange Services, Inc.
Milpitas, CA
AFFILIATE
Investors 1031 Exchange Inc.
Solana Beach, CA
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Federation of Exchange Accommodators
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