The Menke Group Celebrates 50 Years of ESOP Excellence
ncarol.com/10271026

BURLINGAME, Calif. - ncarol.com -- The Menke Group, the leading single-source Employee Stock Ownership Plan (ESOP) provider in the United States, announced that 2024 marks its fiftieth anniversary of advising companies on designing and managing ESOPs. In addition, the company announced that Trevor Gilmore, former CFO and COO of The Menke Group, was promoted to CEO, following Kyle Coltman's retirement.

Founded in 1974 by John D. Menke, the company's history is closely associated with the Employee Retirement Income Security Act (ERISA). ERISA, the landmark legislation enabling ESOPs, was signed into law in 1974 and included provisions drafted by John D. Menke. In 1993, Menke made a further contribution to legislation governing ESOPs by drafting key provisions regarding S-corporation ESOPs that made ESOPs available to S-corporations for the first time.

The Menke Group has been instrumental in helping American companies create more than 4,000 ESOPs all over the United States. As proof of the company's dedication to the employee ownership model, The Menke Group became employee-owned in 1983.

"Ownership is a cornerstone of the American Dream, and helping companies transfer ownership to its employees is our mission," said Trevor Gilmore, CEO of The Menke Group. "Selling all or part of a company to its employees makes great financial sense, leaves a lasting legacy in the community, and can make financial independence a reality for all employees, no matter the industry."

More on ncarol.com

• Charlotte-based Steady Tax & Bookkeeping launches to support small businesses nationwide
• Recreation Ponds: The Next Big Backyard Pond Trend?
• $620 Million in Recent Government Contract Awards with More Than $1.2 Billion in Annualized Revenue: Circle8 Group (N A S D A Q: CIRC)
• Lewis County Hydrogen Alliance Launches Phase 1 Work to Turn Forest Residuals into Fuel-Grade Hydrogen and Dispatchable Clean Power
• Next Gen Fibre Selects netElastic vBNG and CGNAT to Fuel Rapid Nationwide Expansion and Eliminate Network Bottlenecks

ESOPs are the most commonly-used forms of employee ownership in the United States, according to the National Center for Employee Ownership. Designed to encourage and reward increased employee productivity and efficiency, an ESOP offers multiple advantages to company owners, employees, and communities.

"Employees at ESOP companies often accrue 10%, on average, of their wages in their ESOP account," continued Gilmore. "In an employee-owned company, 100 percent of those contributions are company funded, so employees are not out of pocket. When you compound those contributions over time, ESOPs can build substantial equity and retirement security for employees."

Company owners or shareholders who wish to build a robust succession plan for their business in order to remain independent and continue to conduct "business as usual" can keep jobs in their communities by moving to an ESOP. "The ESOP model is an excellent means of creating a collaborative culture where employee owners and the bottom line can thrive, rewarding and retaining staff in an efficient manner that allows for a well-executed succession strategy," concluded Gilmore.

Gilmore, a licensed CPA, joined the Menke Group in 2015 in the dual role of Chief Financial Officer and Chief Operations Officer. He also holds the Accredited in Business Valuation credential (ABV) from the AICPA and has FINRA Securities licenses. Prior to joining Menke, he was the Director of Private Equity for a boutique accounting firm which was acquired by Moss Adams. Before that, he was a founder of a green building product brand.

More on ncarol.com

• Boston Industrial Solutions, Inc. Introduces SAP-G70 Primer for bonding silicone to silicone and other materials
• 'Reflections: Enlightening Insights Into the Divine Mystery' — The Latest Book by Philosopher Steven Colborne
• Scott G. Hoy of Hoy Law Earns 11th Consecutive Super Lawyers Selection
• L2 Aviation Selected for U.S. Air Force KC-46 CASPER Multiple Award Contract
• Leeds Billboard Campaign Drives 188% Traffic Uplift as AI Enquiries Rise 266% for Loud! OOH

"Looking back over the past 50 years, it is very gratifying to see the growth and evolution of the ESOP industry," said John D. Menke, Founder of The Menke Group. "Today, there are over 6,533 ESOPs in the United States, holding $2.1 trillion in assets and including 14.7 million employees. In the next 50 years, let us work together to unlock the transformative power of employee ownership for even more US companies so their employees can enjoy the benefits of being employee owners."

About The Menke Group

The Menke Group is America's largest and oldest ESOP advisor, with more than 50 years of experience creating and administering ESOPs. Menke has helped more than 4,000 companies become employee owned and has designed and installed ESOPs all over the United States, serving companies with as few as ten employees and as many as 15,000 employees. The Menke Group was founded in 1974 by John Menke who co-authored the landmark federal ESOP legislation which subsequently spawned the industry. Visit The Menke Group at www.menke.com for more information and a timeline with the history of the company and ESOPs.