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Member Bio

Daniel R. Van Vleet, ASA

 

Email: dvanvleet1@gmail.com

Contact Information:
1 South Wacker Drive
38th Floor
Chicago, IL 60606
View address on a map

1 (312) 752-3336


Appraiser Profile:

Overview

Daniel R. Van Vleet is a Managing Director in the Valuation & Financial Opinions Group at Stout Risius Ross (SRR). Mr. Van Vleet has extensive experience providing professional valuation advisory and economic analysis services in the fields of controversy, taxation, and corporate and shareholder transactions. His advisory and analytical services have been provided in a broad range of industries and for a variety of purposes including fairness and solvency opinions, estate and gift tax, income tax, tax restructuring, board of directors advisory services, shareholder disputes, marital dissolution, corporate transaction disputes, bankruptcy and reorganization, purchase and sale advisement, and other controversy, tax, and corporate and shareholder transaction related matters.

 

Mr. Van Vleet has provided professional services in the following industries, among others: advertising, aerospace, agriculture, apparel, architecture, automotive, aviation, beer and wine distribution, business consulting services, biotechnology, broker/dealers, cable television, carpet and floor cleaning,  chemical manufacturing, commercial banking, commercial packaging, commuity banking, computers, construction, container manufacturing, dental equipment, dealerships, direct mail, direct marketing, e-commerce, education, electrical contracting, electrical switchgear equipment, engineering, food brokerage and distribution, food processing, forest products, furniture manufacturing and distribution, gaming, genetic engineering, gold mining and exploration, grocery, health care, hedge funds, high frequency trading, HVAC, hotels, insurance, investment banking, internet B2B and B2C, investment management services, law, liquor distillers and distributors, management consulting, marine, medical equipment, medicine, merchandise vending, metal fabrication, mobile data communications, mortgage banking, motion pictures, multi-level marketing, newspapers, office equipment, oil and gas pipelines and exploration, operations consulting, paper brokerage and distribution, pari-mutuel racing, petrochemical, pharmaceuticals, plastics, professional sports, proprietary trading firms, publishing, pulp and paper machinery manufacturing, quick service restaurants, real estate development and brokerage, real estate investment entities, resort/recreation, restaurants, retail, soft drinks and beverages, television and radio broadcasting, tobacco, transportation and trucking, and wholesale distribution.

 

Mr. Van Vleet is a contributing author to several business valuation books. He has lectured extensively and presented numerous advanced education seminars on the subjects of business valuation, pass-through entity valuation, controversy and transaction advisory services. In addition, he has testified as an expert witness at trial in state and federal courts, arbitrations, and depositions.

Prior to joining SRR, Mr. Van Vleet was a Managing Director with Duff & Phelps, LLC in its Valuation Advisory Services Group in Chicago. Prior to his affiliation with Duff & Phelps, LLC, he was the Managing Director in charge of the Chicago office of Willamette Management Associates.

 

Mr. Van Vleet is an International Past President of the American Society of Appraisers (ASA) and a former President of the Business Valuation Association of Chicago.  He is also a member of the Association of Insolvency and Restructuring Advisors and serves on the editorial review board for Trusts & Estates magazine.  Mr. Van Vleet has served as the ASA representative to both the International Valuation Standards Council (IVSC) and the Saudi Authority for Accredited Valuers (TAQEEM).  He is also the developer of the Van Vleet Model, which is a widely used pass-through entity valuation model.

 

Mr. Van Vleet has served as an adjunct professor of finance at the Kellstadt Graduate School of Business at DePaul University and as a Continuing Education Instructor at Northwestern University. 

 

Testimony Experience

 

Charleston Laboratories, Inc. v. Dr. Raymond Takigiku; Case No. 15-81694, United States District Court Southern District Of Florida, 2016

 

John Douglas Dunmire, et al. v. Farmers & Merchants Bancorp of Western Pennsylvania, Inc.; C.A. No. 10589 CB, Court of Chancery of the State of Delaware, 2016

 

Joseph N. Broyles v. Cantor Fitzgerald & Co., et al., Civil Action No. 3:10-854-JJB-SCR, United States District Court, Middle District of Louisiana, 2016

 

Glen W. Rollins, et al. vs LOR, Inc., Gary W. Rollins and R. Randal Rollins, No. 2014CV249480, Superior Court of Fulton County, State of Georgia, 2016

 

The Patriot Group, LLC v. Hilco Financial, LLC; Case No. 10 L 03914; Circuit Court of Cook County, Illinois, County Department, Chancery Division, 2015

 

The City of Chicago v. The Chicago Park District, Millennium Park Joint Venture, LLC, and Millennium Park Management Venture, LLC; Case No. 11 CH 41075; Circuit Court of Cook County, Illinois, County Department, Chancery Division, 2014

 

Semir D. Sirazi, et al. v. General Mediterranean Holdings, et al., Case No. 1112-CV-00653, United States District Court, Northern District of Illinois, Eastern Division, 2014

 

In re AmFin Financial Corporation, et al, Case No. 09-21323, United States Bankruptcy

Court, Northern District of Ohio, Eastern Division, 2014

 

In re K&K Holdings, LLC, Case No. 12-23916, United States Bankruptcy Court, Northern District of Illinois, Eastern Division, 2013

 

In re Pethinaidu Veluchamy and Parameswari Veluchamy, Case No. 11-33413, United States Bankruptcy Court, Northern District of Illinois, Eastern Division, 2013

 

In re Windmill Durango Office, LLC, Case No. 11-33413, United States Bankruptcy Court, District of Nevada, 2011

 

Tong Hu, et al. vs. Sun Holdings, LLC, Case No. No. 10 CH 01570, State of Illinois, Circuit Court of Cook County, Chancery Division, 2011

 

Chrysler Dealer Termination Hearings, American Arbitration Association, Illinois, 2010

 

Mark Boyce v. Soundview Technology Group, Inc., United States District Court, Southern District of New York, 2008

 

Salt Lake Tribune Publishing Co., LLC v. Management Planning, Inc., United States District Court, District of Utah, 2007

 

In the Matter of the Revocable Trust Agreement of Kay Joan Brown, State of Indiana, Circuit Court for the County of Huntington, 2006

 

William Harrison Crabel and Lori Marie Crabel, State of Wisconsin, Circuit Court for the County of Ozaukee, 2005

 

In re Tomahawk Limited Partnership, U.S. Bankruptcy Court, Northern District of Illinois, 2003

 

E. Jerome McCarthy v. Lyle W. Miller, State of Michigan, Circuit Court for the County of Ingham, 2003

 

SFX Sports Group, Inc. vs. Clear Channel Communications, Inc., American Arbitration Association, Illinois, 2002

 

Align Risk Analysis, Inc. v. Robin Robinson, State of Illinois, Circuit Court for the County of Cook, 2002

 

In the Marriage of Eda Eisenberg and Jeffrey Eisenberg, State of Illinois, Circuit Court for the County of Cook, 2002

 

Dye v. Dye, State of Indiana, Circuit Court for the County of Whitley, 2001

 

Telechron of Florida, Inc. v. General Electric Company, American Arbitration Association, Indiana, 1999

 

Mary Keough Lyman v. Herbert M. Lyman, Sr., State of Iowa, District Court for the County of Johnson, 1999

 

Kuban Dissolution of Marriage, Moss & Barnett, PC, State of Minnesota, District Court, 1999

 

Pachmeyer v. Gibson & Associates, Piper Marbury Rudnick & Wolfe, State of Illinois, Circuit Court for the County of Cook, 1999

 

Warren E. Shoulders v. J.A. Knight and Heat Controller, Inc., State of Michigan, Circuit Court for the County of Jackson, 1997

 

Linda M. DiMichele v. Dean DiMichele, Farrell Law Firm, Godfrey, Illinois 1997

 

Estate of Richard Clatch v. Quality Beer Distributors, Power Rogers & Smith, P.C. Circuit Court for the County of Cook, 1996

Contributing Author – Textbook Publications

 

“The Van Vleet Model”, Financial Valuation: Application and Models, 2nd ed., 3rd ed. and 4th ed., edited by James R. Hitchner, New Jersey: John Wiley & Sons, Inc., 2006, 2011, and 2015

 

“Valuation of S Corporations and Other Pass-Through Entities”, Business Valuation & Taxes: Procedure, Law and Perspective, edited by Shannon P. Pratt, Ph.D. and U.S. Tax Court Judge David Laro, 1st ed., New York: John Wiley & Sons, Inc., 2005

 

“The S Corporation Economic Adjustment”, The Handbook of Business Valuation and Intellectual Property Analysis, edited by Robert F. Reilly and Robert P. Schweihs, 2nd ed., New York: McGraw-Hill, 2003

 

“Discounts and Premiums in Undivided Interest Valuations”, Business Valuation Discounts and Premiums, edited by Shannon P. Pratt, Ph.D., 1st ed., New York: John Wiley & Sons, Inc., 2001

 

“Application of Daubert-Related Decisions on Economic Damages Expert Testimony” Intellectual Property Infringement Damages: A Litigation Support Handbook, edited by

 

Russell L. Parr and Gordon v. Smith, 2nd ed., New York: John Wiley & Sons, Inc., 2000

 

“Litigation”, Valuing Small Businesses and Professional Practices, Shannon P. Pratt, Ph.D., 3rd ed. New York: McGraw-Hill, 1998

 

“Fair Value in Dissenter Actions”, Financial Valuation: Businesses and Business Interests, 1997 Update, edited by James H. Zukin, New York: Warren, Gorham & Lamont, 1997

 

Published Articles

 

“Delaware Open MRI and the Van Vleet Model”, Business Valuation Review, American Society of Appraisers, June 2015

 

“Life Insurance Valuation: It Involves a Variety of Methods and Analytical Assumptions”, Trusts & Estates Magazine, December 2014

 

“Estate of Gallagher: It’s Déjà Vu All Over Again,” Trusts & Estates Magazine, June 2012

 

“Cramdown Interest Rates under Chapter 11: A Valuation Experts Perspective”, American Bankruptcy Institute Journal, March 2011

 

“High Frequency Trading Firms: What They Do and How to Figure out What They’re Worth”, Trusts & Estates Magazine, Fall 2011

 

“Warning! The Service Believes S Corporations are Undervalued,” The SRR Journal, Fall 2010

 

“Higher Valuation Discounts for Undivided Interests?” The SRR Journal, Spring 2010

 

“Valuation Impact of the Built-in Gains Tax Liability”, The SRR Journal: Trusts & Estates Edition, Summer 2009

 

“An IRS Alternate Dispute Resolution Process: The Fast Track Settlement Program”, The SRR Journal: Trusts & Estates Edition, Summer 2009, Co-authored with Lawrence B. Gibbs, former Commissioner of the Internal Revenue Service

 

“A Review and Critique of the Fannon S Corporation Model”, Business Valuation Review, American Society of Appraisers, March 2008

 

“What’s an S Corp Really Worth”, Trusts & Estates Magazine, December 2007

 

“S Corporation Valuation Update”, Financial Valuation and Litigation Expert, February, 2007

 

“Appraisers: An Important Resource”, American Bankruptcy Institute, Law Review, July/Aug 2004

 

“The S Corporation Economic Adjustment Model”, Business Valuation Review, American Society of Appraisers, December 2004

 

“The S Corporation Economic Adjustment Model Revisited”, Willamette Management Associates Insights, Winter 2004

 

“The Valuation of S Corporation Stock: The Equity Adjustment Multiple”, Pennsylvania Bar Association, Pennsylvania Family Lawyer, May-June 2003

 

“A New Way to Value S Corporation Securities”, Trusts & Estates Magazine, March 2003

 

“Valuing a Hedge Fund”, Family Advocate, American Bar Association, January 2003

 

“The Valuation of S Corporation Stock: The Equity Adjustment Multiple”, Willamette Management Associates Insights, Winter 2003

 

“Intangible Asset Valuation Issues Under SFAS 142”, Willamette Management Associates Insights, Winter 2002

 

“Valuation of Copyright Intellectual Property”, Willamette Management Associates Insights, Summer 2002

 

“Valuation Analysis of Restricted Stocks of Public Companies”, Mergers & Acquisitions, January 1999

 

“Application of Daubert-Related Decisions on Economic Damages Expert Testimony” Willamette Management Associates Insights, Autumn 1999

 

“Economic Analysis Related to Controversy Matters” Willamette Management Associates Insights, 30th Anniversary Issue, 1999

 

“Revised Edition of Valuation Training for Appeals Officers Coursebook” Willamette Management Associates Insights, Summer 1998

 

“Valuation Analysis of Restricted Stocks of Public Companies” Willamette Management Associates Insights, Winter 1999

 

“Fair Value in Dissenting Shareholder Disputes” Willamette Management Associates Insights, Winter 1997

 

“Business Plans and Financing Memorandums” Willamette Management Associates Insights, Spring 1997

 

“Murphy and Frank Provide Insight on Minority Interest Discounts” Willamette Management Associates Insights, Autumn 1996

 

“Estate of Bonner: Court of Appeals Allows Valuation Discount for Fractional Undivided Interests” Willamette Management Associates Insights, Autumn 1996

 

“Final Regulations Issued regarding Section 2701 Valuation Rule Gift and Estate Tax Adjustments” Willamette Management Associates Valuation Insights, Winter 1995

 

“Quantitative and Qualitative Considerations in the Valuation of Medical Practices” Willamette Management Associates Insights, Fall 1995

 

“IRS Letter Ruling Requires Different Valuation on Closely Held Stock for Estate Tax Purposes and for Marital Deduction Purposes” Willamette Management Associates Insights, Summer 1994

 

Lectures and Seminars

 

“Pass-through Entities Issues and Developments”, Foundation for Accounting Education, New York State Society of CPAs, New York, New York, May 2016

 

“Financial Valuation Quality Initiative”, American Society of Appraisers, Fair Value Summit, San Francisco, California, November 17, 2015

 

“Tax Issues and Valuation”, American Society of Appraisers, National Business Valuation Conference, Las Vegas, Nevada, October 20, 2015

 

“Complex Shareholder Disputes and Potential Solutions”, American Society of Appraisers, National Business Valuation Conference, Las Vegas, Nevada, October 19, 2015

 

“The U.S. Valuation Profession Infrastructure Initiative”, International Valuation Standards Council, Paris, France, October 14, 2015

 

“Valuation Roundtable”, The Appraisal Foundation, Washington DC, October 5, 2015

 

“Complex Shareholder Dispute Valuation Issues”, Business Valuation Association of Chicago, Chicago, Illinois, September 24, 2015

 

“Navigating the IRS Process and Addressing Valuation Related Controversies”, National Trust Closely Held Business Association, New Orleans, Louisiana, September 17, 2015

 

“Legal & Financial Forum”, Lake Forest/Lake Bluff Chamber of Commerce, January 22, 2015

 

“Valuation Controversies”, JPMorgan Chase & Co., Columbus, Ohio, April 15, 2015

 

“Valuation Controversies”, JPMorgan Chase & Co., Columbus, Ohio, April 15, 2014

 

“Red Flag Valuation Issues in Tax Related Matters”, The Chicago Finance Group, Chicago, Illinois, January 22, 2014.

 

“Energy Valuation”, International Valuation Conference, Xiamen University, Xiamen, China, November 2013

 

“Valuation Issues from a U.S. Tax Court Perspective”, Joint Presentation with U.S. Tax Court Judge David Laro, Business Valuation Association of Chicago, Chicago, Illinois, March 7, 2013

 

“S Corporation Valuation Analysis and Court Case Update”, National Association of Certified Valuators and Analysts, Chicago, Illinois, November 15, 2012

 

“Valuation Issues Surrounding Buy/Sell Provisions of Shareholder Agreements”, Notre Dame Tax & Estate Planning Institute, University of Notre Dame, September 20, 2012

 

“Valuation Issues Surrounding Buy/Sell Provisions of Shareholder Agreements”, Illinois Institute for Continuing Legal Education, Chicago, Illinois, June 21, 2012

 

“Judicial, Legal and Valuation Perspectives on Controversial Estate Tax Issues”, Chicago Estate Planning Council, Presentation with U.S. Tax Court Judge David Laro and Carol Harrington of McDermott, Will & Emery, May 24, 2012 in Chicago, Illinois

 

“Estate of Louis Paxton Gallagher: TC Memo 2011-148,” Business Valuation Association of Chicago, Chicago, Illinois, May 31, 2012

 

“Estate of Louise Paxton Gallagher: TC Memo 2011-148,” New York Chapter of the American Society of Appraisers, New York, NY, May 7, 2012

 

“Financial Reporting Valuation: The BV Perspective”, presented at the Capital University of Economics and Business, Beijing, China, October 2011

 

“S Corporations: Issues and Analysis of Controlling Equity Interests”, presented at the Advanced Business Valuation Conference, Chicago, Illinois, American Society of Appraisers, October 2011

 

“Ask the Experts”, presented at the 2011 Advanced Business Valuation Conference, American Society of Appraisers, Chicago, Illinois, October 2011

 

“Valuation Reports and Estate Tax Controversies“, presented to the 2011 Notre Dame Tax & Estate Planning Institute, South Bend, Indiana, September 15, 2011

 

“Valuation of S Corporations”, presented to the Illinois Certified Public Accountants Society, Chicago, Illinois, May 10, 2011

 

"Effectively Defending Discounts for Lack of Marketability," SRR Webinar, November 10, 2010

 

“Valuation of Controlling Equity Interests in Pass-Through Entities,” presented to the American Society of Appraisers and the Business Valuation Association of Chicago in Chicago, Illinois, May 21, 2010

 

“Estate of Litchfield v. Commissioner: The Latest Development in the Evolution of Case Law Recognizing Built-in Gains Tax Liabilities,” SRR Webinar, April 22, 2009

 

“The Van Vleet Model”, presented to the Minnesota Society of Certified Public Accountants at the Business Valuation Conference in Minneapolis, Minnesota, October 2008

 

“The Van Vleet Model”, presented to the Wisconsin National Association of Certified Valuation Analysts at the Business Valuation Education Seminar in Milwaukee, Wisconsin, October 2008

 

“The Van Vleet Model”, presented to the Minnesota Society of Certified Public Accountants at the Business Valuation Conference in Brookfield, Minnesota, May 2008

 

“The Van Vleet Model”, presented to the Foundation for Accounting Education and the New York State Society of Certified Public Accountants in New York, New York, May 2008

 

“The Van Vleet Model”, presented to the American Society of Appraisers in Philadelphia, Pennsylvania, March 2008

 

“Tax Affecting is Not the Issue – Never Was”, presented to The American Institute of Certified Public Accountants at the National Business Valuation Conference in New Orleans, Louisiana, December 2007

 

“The S Corporation Economic Adjustment Model”, presented to The Institute of Business Appraisers at the National Business Valuation Conference in Denver, Colorado, June 2007

 

“Valuing Pass-through Entities”, presented to The Institute of Business Appraisers at the National Business Valuation Conference in Denver, Colorado, June 2007

 

“The S Corporation Economic Adjustment Model”, presented to the National Association of Certified Valuation Analysts at the National Business Valuation Conference in Washington, DC, June 2007

 

“The Valuation and Analysis of S Corporations”, presented to the Center for Advanced Valuation Studies of the American Society of Appraisers in Washington, DC, May 2007

 

“The S Corporation Economic Adjustment Model”, presented to the American Society of Appraisers, Miami Chapter in Miami, Florida, November 2006

 

“Valuation of a Privately Owned Business”, presented to the School of Continuing Studies of Northwestern University in Chicago, Illinois, September 2006

 

 “The Income Approach” presented to the American Society of Appraisers in Washington, DC, September 2006

 

“The Valuation of Pass-through Entities”, presented to the Illinois Institute of Certified Public Accountants in Chicago, Illinois, May 2006

 

“Marketing Your Practice and Yourself”, presented to the American Society of Appraisers in Chicago, Illinois, February 2006

 

“S Corporations and Pass-through Entities”, presented to the American Institute of Certified Public Accountants and the American Society of Appraisers at the National Business Valuation Conference in Las Vegas, Nevada, November 2005

 

“The Van Vleet Model”, presented to the National Association of Certified Valuation Analysts at the Massachusetts Institute of Technology in Boston, Massachusetts, October 2005

 

“Quantifying Discounts for Lack of Marketability and Lack of Liquidity”, presented to the American Society of Appraisers and the Business Valuation Society of Chicago in Chicago, Illinois, October 2005

 

“Quantifying Discounts for Lack of Marketability and Lack of Liquidity”, presented to the American Society of Appraisers at the Thirteenth Annual Seminar on Current Topics in Business Valuation in New York, New York, May 2005

 

“The Valuation of Pass-through Entities: The Plot Thickens”, presented to the American Institute of Certified Public Accountants at the National Business Valuation Conference, in Orlando, Florida, November 2004

 

“The S Corporation Economic Adjustment Model”, presented to RSM McGladrey, Inc at the National Business Valuation Training Seminar in Chicago, Illinois, November 2004

 

“Business Valuation Made Understandable for Estate Planners”, presented to the Illinois Institute of Continuing Legal Education at the 14th Annual Estate Planning with the Masters Series in Chicago, Illinois, October 2004

 

“The S Corporation Economic Adjustment Model”, presented to the Business Valuation Association of Chicago in Chicago, Illinois, September 2004

 

“S Corporation Valuation Issues: Tax Affecting Income and Minority vs. Control”, presented at an Internet National Conference of Business Valuation Resources, LLC, June, 2004

 

“The S Corporation Economic Adjustment Model”, presented to the Institute of Business Appraisers at the 2004 Annual National Business Valuation Conference in Las Vegas, Nevada, June 2004

 

“The Value of Pass-through Entities”, presented to the New Jersey Society of Certified Public Accountants at the Valuation and Litigation Support Conference in West Orange, New Jersey, October 2003

 

“The S Corporation Economic Adjustment Model”, presented to the American Society of Appraisers at the 22nd Advanced Business Valuation Conference in Chicago, Illinois, October 2003

 

“The Valuation of Limited Partnership Interests”, presented to The Center for Professional Education in Chicago, Illinois, July 2003

 

“S Corporations vs. C Corporations: Important New Valuation Issues”, presented to the Alliance of Mergers and Acquisitions Advisors at the 9th Annual SuperConference in Chicago, Illinois, July 2003

 

“Panel Review of New Research Articles in the Field of Business Valuation”, presented to the American Society of Appraisers at the 21st Advanced Business Valuation Conference in Orlando, Florida, October 2002

 

“Finance 798: Business Valuation”, taught at the Kellstadt Graduate School of Business of DePaul University, Chicago, Illinois, 2nd Quarter, 2001

 

“Finance 798: Business Valuation”, taught at the Kellstadt Graduate School of Business of DePaul University, Chicago, Illinois, 1st Quarter, 2001

 

“International Business Valuation Analysis and Non-Performing Loans”, presented to the Chicago Institute of Futures and Options and Hanvitt Bank of Seoul, Korea at the Comprehensive Financial Management Program in Chicago, Illinois, May 2000

 

“Valuation of Independent Trust Companies”, presented to Association of Independent Trust Companies in San Francisco, California, October 1999

 

“Recent Court Case Developments in Business Valuation”, presented to the American Society of Appraisers in Chicago, Illinois, November, 1998

 

“Recent Court Case Developments in Business Valuation”, presented to the Estate Planning Council of Greater Joliet, Joliet, Illinois, August 1998

 

“Expert Witness Training for General Engineers and Appraisers” presented to the Internal Revenue Service, Office of Chief Counsel in Chicago, Illinois, July 1998

 

“Current Issues in Business Valuation”, presented to the Illinois Association of Certified Public Accountants in Chicago, Illinois, May 1998

 

“How to Value a Business—Reconciling Theory with Real World Practice”, presented to the Twin Cities Society of Securities Analysts in Minneapolis, Minnesota, February 1998

 

“Distinguishing Professional & Enterprise Goodwill in Dissolutions”, presented to the Kentucky Bar Association in Lexington, Kentucky, January 1997

 

“The Asset Accumulation Approach to Business Valuation”, presented to the Venture Club of Indiana in Indianapolis, Indiana, October 1996