News & Updates

Dan Zugell speaking at the Financial Planning Association of Middle Tennessee Symposium

Dan Zugell Featured in The Alternative Board Newsletter

Upcoming Events

ESOPs for Breweries: Trends & Opportunities

Wednesday, August 1, 2018
10:00 AM/ PT

Webinar Length: 60 Minutes

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Is an ESOP Right for You?

October 17-18, 2018
Sheraton Downtown Hotel
250 North Main Street, Memphis, TN.

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Fall ESOP Forum

October 2 (pre-conference)
October 3–4, 2018
Hotel Albuquerque
800 Rio Grande Blvd. NW
Albuquerque, NM 87104
(505) 843-6300
Albuquerque, NM

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ESOP Nuts and Bolts: Employee Stock Ownership Plans

August 2, 2018
Entertainment Partners
2950 N. Hollywood Way
Burbank, CA 91505
(818) 955-6000

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ESOP Association’s 41st Annual Conference + 27th Annual Awards Ceremony

May 24-25, 2018
Washington, DC

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NCEO 2018 Employee Ownership Conference

April 17 (pre-conference)
April 18–20, 2018
Marriott Marquis Hotel
265 Peachtree Center Ave NE
Atlanta, GA 30303
(404) 521-0000

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Tax advantages of ESOPs as an exit opportunity for architecture and engineering firms

Stakeholders in mature architecture and engineering firms nearing retirement are bombarded with ideas from many advisors for the “best” exit option. Despite the owners’ desire to continue to run their firms as they always have and simply focus on their clients, they need to contemplate several key considerations of a solid and successful exit plan, which include: […]

Employee Stock Ownership Plans Financing

An ESOP is the only tax-qualified retirement plan that may borrow money. Both principal and interest, subject to limits, on debt incurred to purchase stock from a selling shareholder are deductible to the corporation. Therefore, due to the tax advantages afforded only an ESOP, most ESOP transactions are financed through borrowed (leveraged) funds. Senior Bank […]


ESOPs are projected to be the biggest transfer of wealth in U.S. history. A discussion regarding Employee Stock Ownership Plans (ESOPs) must contain the obligatory ESOP basics, including an ESOP definition, as well as the advantages to the seller, company and employees. This article will briefly do the same, but will focus mainly on the non-leveraged ESOP, […]


A company sponsoring an ESOP must “make a market” for vested plan participants. To ensure the success of an Employee Stock Ownership Plan (ESOP) as an employee motivational tool and as a means of corporate finance and succession planning, a company sponsoring an ESOP must “make a market” for vested plan participants who are entitled to […]


ESOPs have the most advantageous tax benefit. Download Document A recent Price Waterhouse Coopers report indicated that 62% of the U.S. companies planning to sell all or part of their business will do so within the next 5-6 years. U.S. Department of Commerce’s 2010 statistics show that Pennsylvania’s Allegheny and the surrounding five counties account […]


Employee Stock Ownership Plans, or ESOPs for short, are gaining momentum as baby boomers look to transfer their businesses in a way that best suits their families’ goals and objectives. Many are family businesses that would like to perpetuate the business into the next generation or key management, but giving the business away is not […]


ESOP // Employee Stock Ownership Plan // A qualified, defined contribution employee retirement plan designed to invest primarily in employer stock of a sponsoring company. Download Document ESOPs ESOPs provide an opportunity for business owners or shareholders to successfully plan an immediate or gradual tax advantaged exit strategy, while also engineering the continued success of […]


Does the ESOP Trust control the Board since they are the stockholders? Download Document The key component to control is the type of Trustee you choose once the ESOP is established. There are two types of trustees, independent and directed. An independent Trustee is independent of the current Board of Directors and has broad fiduciary […]


Every ESOP plan is carefully designed to fit specific needs and is not a one-size-fits-all approach. The process varies in complexity depending upon the unique circumstances of the company, the owner, and the goals to be achieved. We insist on installing a succession plan that will work over the long term while maximizing benefits to […]

News Articles

Godshall’s, A Bacon Leader, To Become Employee Owned

Source: PR Newswire   TELFORD, Pa., March 15, 2017  — Godshall’s Quality Meats Inc. has announced plans to convert to an employee owned company. The owners, Mark Godshall, Floyd Kratz, and Ron Godshall took this extraordinary step to ensure that the company remains independent and maintains its unique culture. “It seemed like the next step in our […]

Should an ESOP be Part of Your Succession Plan?

BY RICHARD E. SPENCE, JASON H. WINTER AND DANIEL M. ZUGELL   If you’ve spent most (or all) of your professional career building a small- to mid-size business, and you’ve reached the point where you need to consider the “exit,” then you’d be doing yourself a disservice if you failed to consider an Employee Stock […]

More Maine construction companies are embracing employee ownership

BY J. CRAIG ANDERSON STAFF WRITER – There are risks, but independent construction firms see even bigger advantages in ESOPs – employee stock ownership plans – to pass the business on.   Wright-Ryan Construction in Portland has joined a growing list of construction firms to tackle the challenge of succession by selling the company […]

Who’s lucky? The staff of Lucky 32. They now own the business.

BY DAVID RANII – – Tyler Psaroudis, a server at the Lucky 32 Southern Kitchen, just became part-owner of the Greensboro business that operates that restaurant — as well as three other eateries and two hotels — without lifting a finger.   Instead, the heavy lifting – in fact, all of the lifting – […]

Charter Construction Announces Transition to Become Employee Owned Company (ESOP)

Source – – Charter Construction Employee Ownership Plan Structure Establishes Long Term Viability SEATTLE, Nov. 16, 2016 — Today Charter Construction, an award winning Pacific Northwest company specializing in commercial, custom residential, remediation and emergency restoration construction, announced that it will convert its ownership structure to an Employee Stock Ownership Plan (ESOP).   Through transitioning […]

Eder Flag Co. becomes employee owned

Source – Rick Barrett , Milwaukee Journal Sentinel The employee stock ownership plan will put thousands of dollars into individual employee retirement accounts, according to Eder Flag Co.   This Labor Day weekend will have extra meaning for the employees at Eder Flag Co., in Oak Creek, as Friday they were told they are now company […]

4 Good Reasons Your Company Should Consider an ESOP

BY COREY ROSEN Source: Conscious Company Magazine   Baby Boomers will be retiring in record numbers in the coming years — 10,000 per day, by some estimates — and record numbers of businesses will be for sale. In fact, two out of three of all privately held businesses in the US are forecasted to go through […]

ESOPs: An attractive succession plan option for dental practices

By Jeannine Pendergast, CPA Senior ESOP Client Advisor, Spinnaker Trust Source: DentistryIQ   Employee stock ownership plans are growing in popularity in other industries and gaining traction among dental practices. Here’s why they have marked advantages over traditional models of succession planning.   A consequence of the rapidly retiring baby boomer generation is a rise […]

MarshBerry Enters Employee Stock Ownership Plan

Marsh, Berry & Co. Inc., a Cleveland-area consulting and investment banking firm focused on the insurance industry, announced that the firm has become 100 percent employee-owned through an Employee Stock Ownership Plan (ESOP) Trust.   The ESOP announcement was made to MarshBerry employees during a quarterly staff meeting held at the company’s headquarters in Woodmere, […]

Craft brewers toast independence in Fort Collins

Jacob Laxen from the Coloraroan –  October 10, 2016   On the eve of the country’s largest beer event, employees from five different breweries toasted in a cheers of solidarity.   Everyone who filled the stage at Odell Brewing Co. that night had an ownership stake in their brewery. So did each of their co-workers. “This is a […]