Spindrift July 21, 2022

PROGRAM

Diane Daruty introduced Joe Stapleton, a candidate for Newport Beach City Council in District 1. Joe is President and Co-Founder of Spinnaker Investment Group that customizes wealth and investment solutions for businesses and individuals. Joe has served on Newport Beach’s Harbor and Finance Commissions, and as Chairman of the Board of the Newport Beach Chamber of Commerce (2015) and of the Newport Beach Foundation (since 2017). He currently serves on more than a dozen boards of directors including Pacific Club, Pacific Arts Foundation, Literacy Project, International Executive Council, Newport Beach & Company, and Speak Up Newport. He has previously held numerous board positions including on the Corona del Mar Residents Association, Orange County Marathon, and Leadership Tomorrow. In 2020, in recognition of his exceptional community service, Joe received the distinguished honor of Newport Beach Citizen of the Year.

Joe was born in Newport Beach but moved to Tucson when he was young for his father’s employment. In 2006, he obtained a degree in Finance and Entrepreneurship from the University of Arizona and thereafter moved back to Newport Beach. Joe was excited and inspired by life in Newport Beach. He respected the ambition of those who achieved its magnificent life-style but was moved more by their contributions to the community.

Joe passionately pursued his financial career. By 2016, he cofounded Spinnaker Investment that currently manages half a billion in assets and recently added a tax practice. Joe simultaneously strived to serve his community. At age 25, he joined Newport Beach’s Chamber of Commerce and eventu- ally was appointed Chairman of the Board. As a member of the Commodores Club, Joe chaired the Newport Beach Boat Parade and became very involved in Newport Harbor. Troubled by the many derelict vessels in the harbor, Joe secured $100,000 per year from the State of California to clear them out. In 2013, he accepted an invitation to serve on the City’s Harbor Commission.

In 2017, Will O’Neill asked Joe to serve on the City’s Finance Committee. Joe agreed and has served there through today. The City is committed to fiscal responsibility and currently has a $31 million surplus. It has paid down $125 million of the unfunded pension liability created by the 2008 stock market crash. Barring market problems, the City has a plan to pay it off completely within six years.

In 2012, recognizing no citizen under age 40 was serving on council or a commission, Newport Beach Mayor Dennis O’Neil and California State Senator Marian Bergeson established the Newport Beach Foundation to raise civic awareness in young professionals. In 2017, Joe was asked to reestablish and assume the leadership of this foundation. Each year, a class of twenty-five of hundreds of applicants are selected to participate in a four-week program to learn about the City. Participants hear from City leaders including the Mayor, City Manager, City Clerk, City Attorney, Harbor Master, Chiefs of Police and Fire, and Directors of Finance, Public Works, Recreation and Senior Services, and Human Resources. Currently, eighteen program graduates serve the City including council members O’Neill and Muldoon who are both under age 45.

George Lesley, Joe Stapleton, Diane Daruty

Joe shared his business and community service with us so we could understand the depth of his experience with the City of Newport Beach. In an election for council, a candidate’s experience matters.

Joe competed in the 2013 Boston Marathon and was within a quarter mile of the finish line when the bomb detonated. As he sat on a bench reflecting upon the tragic bombing, he pondered his life’s calling. He concluded he wanted to serve the City of Newport Beach. If elected, some of Joe’s goals include maintaining the City’s fiscal responsibility, preserving open spaces, protecting the harbor, keeping up and building infrastructure in a fiscally responsible manner, and addressing the homeless by balancing compassion for them against the unacceptability of tent communities. He will strive to maintain the City as the special place it is.

Joe was asked about his opponent, Tom Miller. Tom came from humble beginnings and allegedly sold a car detailing business he built for tens of millions of dollars. Tom moved to Newport Beach in 2016 and has no prior experience with City government. Tom told Joe he’s running for council to create a legacy for his children. Tom has committed to spending $500,000 of his personal funds on his campaign. To date, Joe has raised $285,000 from more than 630 donors. Joe projects $1 million will be spent on the District 1 campaign. He’d prefer the vast majority be donated to non-profit organizations.
Joe was asked his plan for the homeless. He replied the City should continue to invest in the services it has for its 44 home- less including its Homeless Liaison, the Be Well van, and the 20 beds reserved in the Costa Mesa homeless shelter. Joe also plans to work with the Orange County supervisors to address homelessness.