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 | |
| Company type | Private |
|---|---|
| Industry | Financial Services |
| Genre | Employee Stock Ownership Plan |
| Founded | 1974 in Oakland, California |
| Founder | John D. Menke |
| Headquarters | |
Area served | United States |
| Website | menke |
Menke & Associates, Inc. is a U.S.-based firm specializing in Employee Stock Ownership Plans (ESOPs). The firm was founded in 1974 by John D. Menke and is headquartered in Oakland, California.[1]
History
editThe firm was established by its namesake John D. Menke shortly after the passage of the Employee Retirement Income Security Act (ERISA) in 1974, a law that laid the groundwork for the legal recognition of ESOPs.[2] John D. Menke, a co-drafter of the original ESOP legislation, founded the firm with the goal of providing financial and consulting services to companies.[3]
In 1983, Menke & Associates became employee-owned through its own ESOP. The Tax Reform Act of 1986 reduced corporate tax rates, which led to a temporary decline in ESOP installations as many companies transitioned to S-corporation status, which at the time was ineligible for ESOPs. Menke responded by advocating for legislative changes that eventually allowed S-corporations to adopt ESOPs starting in 1997.[4] Menke & Associates expanded its national reach by acquiring BSI, enhancing its consulting, and advisory service.[5]
Rutgers University launched the Rutgers Institute for Employee Ownership and Profit Sharing and listed John D. Menke as one of its supporters.[6] As of 2023, the firm manages approximately 700 ESOPs annually.[7]
References
edit- ^ "Menke & Associates, Inc. | THE 3rd WAY Book". Retrieved 2024-10-13.
- ^ "Menke & Associates | Certified EO". www.certifiedeo.com. Retrieved 2024-10-13.
- ^ Pasahow, Michael (2021-09-07). "Former In-house Counsel to ESOP Advisors Michael Pasahow Joins Faegre Drinker Benefits and Executive Compensation Practice in San Francisco | Faegre Drinker Biddle & Reath LLP". www.faegredrinker.com. Retrieved 2024-10-13.
- ^ "The Employee Share Ownership Centre". The Employee Share Ownership Centre. Retrieved 2024-10-13.
- ^ "About Us". www.esoponlineservices.com. Retrieved 2024-10-13.
- ^ "Fellowships Supported By John D. Menke | Rutgers School of Management and Labor Relations". smlr.rutgers.edu. Retrieved 2024-10-13.
- ^ Stringer, Judy (2018-06-23). "Could ESOPs spell the future of business ownership?". crainscleveland. Retrieved 2024-10-13.