Advisory Committee on Administration
Companies face important choices when establishing and running an ESOP. This committee’s focus is helping companies understand how the ESOP can help accomplish its strategic goals, operate effectively and efficiently, and stay in compliance with all rules and regulations.
Chair: Lori Stuart, Senior Manager, Crowe
Advisory Committee on Valuation
Business Valuation is an essential aspect of new ESOP formations and ongoing annual administrative updates. Valuation professionals assist ESOP trustees in the process of determining the fair market value of ESOP shares. This committee helps ESOP professional advisors and ESOP companies understand the latest trends, issues, laws, and regulations related to properly determining an ESOP’s share value.
Chair: Donnie Springer, Managing Principal and Shareholder, Columbia Financial Advisors Inc.
Advisory Committee on Ownership Culture
This committee focuses on developing effective practices related to building high performance ownership cultures, including ESOP communication and education, employee engagement, and leadership and management practices that leverage the skills and knowledge of employee owners.
Chair: John Williams, President, Elucidate Resources
Advisory Committee on Legislative & Regulatory Issues
This committee is focused on the laws, regulatory activity, and latest court rulings impacting ESOP companies and professional advisors in connection with ESOP purchase and sale transactions and the administration of ESOPs.
Chair: Julie Govreau, Senior Vice President and General Counsel, GreatBanc Trust Co.
Advisory Committee on Fiduciary Issues
ESOP fiduciaries are a requirement of all ESOPs and being a fiduciary can involve many legal, valuation, and financial decisions that fiduciaries need to fulfill as part of their duties. This committee plays a vital role in helping ESOP fiduciaries understand and fulfill their legal, financial, and ethical obligations.
Chair: Tracy Woolsey, Senior VP/Employee Benefits Officer, Horizon Trust & Investment Management
Advisory Committee on Finance Issues
This committee focuses on the accounting, tax, and finance implications of both ESOP purchase and sale transactions, as well as the ongoing financial requirements and strategic and tactical alternatives in managing a partially or 100% ESOP-owned company.
Chair: Cara Benningfield, Partner, BKD LLP