BURLINGAME, Calif. - s4story -- 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 S For Story

• Julian Raven Releases Second Edition of Odious & Cerberus Following Resignation of Smithsonian Director Kim Sajet
• Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
• Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
• From Barrio to Transgender Pioneer: Chapter 12 of A Letter to Pawtone
• $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST

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 S For Story

• West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
• The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
• Kimberley Strunk's Inspiring New Book, "Jumping Boundaries,"
• Casting Pro Darya Balyura Named Judge for 2025 Meals 4 Monologues Virtual Showcase
• "Even the Crumbs Are Enough" — New Book Ignites Faith in a Time of Silence, Doubt, and Spiritual Exhaustion

"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.