Beth Demes, Executive Director
Ms. Demes has more than 25 years of experience in financing, developing and managing affordable housing. Ms. Demes directs the development process for affordable housing projects of the Alden Foundation, including new site selection, and oversees the asset management for operational projects. Among her previous positions, Ms. Demes directed the asset management operation of a national tax credit investment company and has consulted and advised clients on structuring the financing for and managing affordable housing developments. Her experience also includes commercial real estate lending and economic development.
Ms. Demes has a Bachelor of Arts degree in political science and a Master of Business degree in finance.
Barry Mullen, Development Director
Mr. Mullen has over 30 years of experience in real estate development, finance, and management. At the Alden Foundation, he helps to identify new sites for development, secures all local entitlements, manages consultants in the design development phase, monitors construction and manages the draw and project closeout process.
Mr. Mullen began his career as an architect and then created a real estate consulting practice that concentrated on helping developers buy and sell air rights and transferable development rights. Other positions have included directing the real estate department for the Chicago Transit Authority and developing affordable housing for non-profit and for-profit companies in Chicago. Mr. Mullen has master’s degrees in urban planning, economics, and a Bachelor of Science degree in Architecture.
Board of Directors
Joan Carl, President
Ms. Carl has more than 30 years of experience in real estate development, construction, nursing home management and senior health care at the Alden Group. She is vice president of all the affiliates, running the day-to-day operations of Alden Management Services and directing the financing of all new development activities for the Alden Group. She has been active in several charities and has served as President of the Chicago Metro Chapter of the Illinois Health Care Association.
Derek C.M. Smart, Treasurer
Mr. Smart is a CPA with over 25 years of experience in public accounting and private industry. In public accounting Mr. Smart worked with for profit and non-profit clients across multiple industries including healthcare and the real estate industry. Prior to joining Alden Management Services, Inc., Mr. Smart was the Controller for Smith Bucklin & Associates, an association management company providing full-service management and consulting services to healthcare, technology and trade organizations. Since joining Alden Management Services, Inc., a company providing consulting and administrative services to the long-term care industry, Mr. Smart has worked as the Director of Financial Reporting and currently serves as the company’s Chief Financial Officer.
Mary Chelotti-Smith, Secretary
Ms. Chelotti-Smith is General Counsel for Alden Management Services in Chicago, Illinois. She is also a Registered Nurse, who before joining Alden Management Services, worked for the Illinois Department of Public Health in the Division of Long Term Care. She was also an adjunct faculty member at Benedictine University, where she taught Health Aspects of Aging.
Steven D. Friedland
Mr. Friedland is a partner of Applegate & Thorne-Thomsen, P.C., a law firm with a special focus on affordable housing and community development. Mr. Friedland’s practice concentrates on acquisition, disposition, development financing, structuring and leasing of residential, commercial and industrial real property. During his over 30-year career, he has worked with several prominent national and regional real estate firms and corporations. Mr. Friedland has a particular focus on land use development and zoning matters.
He has worked on significant private development projects in the City of Chicago and in suburban municipalities in the Chicago metropolitan area, assisting clients in re-zonings, annexations and the procurement of other public entitlements. He has appeared before local zoning boards, planning commissions and municipal councils at numerous public meetings in communities such as Chicago, Evanston, Skokie, Winnetka, Grayslake, Lake Bluff, Shorewood, and Wheeling. He also has expertise in the area of real estate taxation, especially with respect to tax-delinquent property.
Ms. Fulkerson is a retired senior vice president of Brinshore Development, a real estate development company with a specialty in affordable housing. Ms. Fulkerson was responsible for developing affordable housing, from conception to completion, including site acquisition, municipal approvals and financing structure. She spent more than 30 years of her career in housing finance and community development. Ms. Fulkerson also assisted the syndication of housing tax credits for the Richman Group, performing due diligence, analysis and acquisition closings for the Midwest region.
Prior professional experience includes the Illinois Housing Development Authority and DuPage County, where she administered the Community Development Block Grant and HOME Investment Partnership programs.
Carl A. Jenkins
Carl A. Jenkins is Managing Director of Community Investments for BMO Harris Bank N.A., the U.S. banking subsidiary of BMO Financial Group. He oversees Community Reinvestment Act investments targeting lower middle-market companies and community-based real estate development in all BMO Harris markets. Presently, Carl manages a team and investment portfolio with commitments exceeding $500 million and covering the states of Arizona, Florida, Illinois, Indiana, Minnesota, Missouri, Washington, and Wisconsin. Prior to his current position, he served as a commercial real estate lender for BMO Capital Markets and the BMO Harris Community Development Lending team. Prior to joining the bank, Carl worked for the Local Initiatives Support Corporation (LISC), a national community development financial institution. He earned his bachelor’s degree in architecture from Washington University in St. Louis and holds an MBA from the Kenan-Flagler School of Business at the University of North Carolina.
He serves on the board of directors for several organizations, including; the National Association of Affordable Housing Lenders, the Cook County Land Bank Authority, the Disability Opportunity Fund, the Small Business Investor Alliance, the Chicago Sinfonietta and the Goodman Theatre. Carl also serves on the advisory committee of several lower middle-market private equity funds.