Blue Ridge ESOP Associates Industry News

Blue Ridge ESOP Associates

Recent Posts

Small Business Paycheck Protection Program and Loan Forgiveness

Posted by Blue Ridge ESOP Associates

Mar 27, 2020 5:13:01 PM

There is a lot of information coming out about the CARES Act, and we want to make sure our clients are immediately informed.

One piece of information that is timely and very important for our clients is that The CARES Act that President Trump has signed has the following provision:

"In one somewhat surprising twist, the CARES Act not only eliminates RMDs for 2020, but any RMD that otherwise needed to be taken in 2019 (and thus, would have normally been required to take such a distribution by April 1st, 2020, as well as a second RMD by the end of 2020) do not have to take either their 2019 or their 2020 RMD."

The following information is from Gentry Locke Attorneys:

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BLUE RIDGE ANNOUNCE INVESTMENT BY EXISTING MANAGEMENT AND LLCP

Posted by Blue Ridge ESOP Associates

Mar 26, 2020 3:00:00 PM

CHARLOTTESVILLE, VA - March 26, 2020 - Marie Minton and Greg Washburn, the current owners of Blue Ridge ESOP Associates, are happy to announce that Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, has invested in Blue Ridge ESOP Associates ("Blue Ridge" or the "Company") in partnership with the existing owners and the management team. Terms of the transaction were not disclosed.

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Pandemic Preparedness

Posted by Blue Ridge ESOP Associates

Mar 24, 2020 2:00:00 PM

Blue Ridge ESOP Associates continues to monitor news about the evolving spread of the new coronavirus, or COVID-19, around the world.

As a mature company delivering essential services to clients like you, we have long had a plan in place. This plan ensures you will be supported regardless of events such as the spread of COVID-19. It accounts for multiple levels of business continuity and includes contingencies for everything from customer support, to IT and information security, to client services.

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Blue Ridge ESOP Associates promotes Scott Freund

Posted by Blue Ridge ESOP Associates

Mar 6, 2020 12:33:00 PM

We are pleased to announce that Mr. Scott Freund has been promoted to Managing Director at Blue Ridge ESOP Associates. Scott has over 24 years of administration experience and has been with Blue Ridge since 2009 playing an integral role in providing administration and consulting advice to ESOP clients. Since coming to Blue Ridge, Scott has helped make our proprietary software, Blue Magic, more efficient so our professionals can spend more time consulting with our clients.  Scott has also been a valuable leader and mentor to our newer associates and has been integral in the development of our administration staff.

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Upcoming Conferences: Illinois, Indiana, Southwest Chapters

Posted by Blue Ridge ESOP Associates

Mar 2, 2020 4:22:37 PM

Blue Ridge professionals, Chad Guzinski and Renee Stadtmueller will be attending Illinois Chapter - 2020 Spring Conference in Champaign, IL on March 5. Renee will be speaking about "ESOP Accounting and Administration" which will focus on key ESOP administration and compliance considerations and the GAAP accounting treatment. Topics covered include allocation methods, funding strategies and distribution policies, diversification, segregation of terminated participants, and the respective financial statement and GAAP treatment.

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ICYMI - Challenges & Benefits of Employee-owned Small Businesses

Posted by Blue Ridge ESOP Associates

Feb 12, 2020 2:39:06 PM

Today there was a hearing in front of the House Small Business Committee regarding "Challenges and Benefits of Employee-owned Small Businesses". We encourage you to listen and learn what was presented today promoting employee-ownership.

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Upcoming Conferences: New South & Iowa/Nebraska ESOP Chapters

Posted by Blue Ridge ESOP Associates

Feb 10, 2020 4:56:24 PM

Blue Ridge professionals, Tom Roback and Carla Klingler will be attending The New South Chapter 2020 Spring Conference in Chattanooga, TN on February 26-27. Carla will be speaking about "ESOP Basics" to help everyone from first time conference attendees to those who need a refresher course on the basics of ESOPs. This session will give attendees a better understanding of how an ESOP works, why ESOP companies are so great, and what you can do to make yours better!  Registration closes February 19, so make plans to register this week.

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ACEC New York: Supporting ESOP Expansion

Posted by Blue Ridge ESOP Associates

Jan 7, 2020 1:08:01 PM

From the article re: Top News for New York Engineering Firms in 2020  - "The ACEC New York-supported legislation would allow an Employee Stock Ownership Plan to own a greater amount of an organized design professional firm. Licensed design professionals would control and manage the firm, but a larger number of employees can share in the benefits of ownership. Employee ownership and professional management and control is a common business model across the country, and it helps firms manage ownership transition, stay locally-owned, retain top talent and reward those who build the firm’s success."

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Great News for Connecticut Architectural Firms

Posted by Blue Ridge ESOP Associates

Dec 19, 2019 2:16:07 PM

Connecticut passed a new law effective October 1, 2019,  that makes it easier for architectural firms to become 100% owned by an ESOP. There is a hope that this updated law in Connecticut will pave the way for more ESOP activity among other professional corporations of this type. More information can be found here.

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Fall 2019: Blue Ridge Professionals - Las Vegas Conference & Tradeshow

Posted by Blue Ridge ESOP Associates

Oct 22, 2019 9:34:27 AM

The 29th Annual Las Vegas Conference & Tradeshow in Las Vegas - November 13-15. Stop by our booth and enter a chance to win the prize of the day! Also make plans to attend the following sessions with our professionals.

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