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Shelley Lombardo honored by 1-95 Magazine
We are proud to announce that Shelley Lombardo, President of Evergreen Advisors, has been recognized as a 2024 Women of Influence by I-95 Business.
Making a difference is what drives Shelley Lombardo. It’s the mission that motivates Lombardo in her role as president of Evergreen Advisors, LLC, and in her positions on various boards and organizations around Baltimore, as well as in her private life.
“I want to make a difference in whatever I’m doing,” Lombardo says. “My motto is to make it happen. That’s what I’m driven by in everything I do.”
Read more of the spotlight article here on I-95 Magazine:
Evergreen’s George Davis at 2024 Maryland MedTech Summit
Evergreen’s George Davis, Executive Vice President of Strategic Advisory, is honored to be participating on the opening panel at the 2024 Maryland MedTech Summit on Thursday, April 11th. Medical device innovators, investors, universities, the FDA, and the rest of Maryland’s MedTech community are coming together for a full day to explore the impact and future of MedTech in Maryland, opportunities to participate in federal and regional initiatives, device manufacturing, go-to-market strategies, and more.
George will be speaking on the panel entitled “Engineering the Future” moderated by LaunchPort’s Managing Partner Bob Storey. This panel brings together key influencers in MedTech from the region, including:
- Bill Bentley, PhD – University of Maryland Distinguished Chair of Engineering and Director, Robert E Fischell Institute for Biomedical Devices
- Dr. Henry Brem – Director of Johns Hopkins Department of Neurosurgery and Johns Hopkins Neurosurgeon-in-Chief
- George Davis – Executive Vice President, Evergreen Advisors and Fund Manager, Wexford SciTech Venture Fund
- Kyp Sirinakis – Managing Partner, Epidarex Capital
- Youseph Yazdi, PhD, MBA – Director, Johns Hopkins Center for Bioengineering Innovation and Design
Continuing the morning’s exploration will explore “Pathways to Progress: Exploring National and Regional Initiatives for Maryland’s MedTech” covering relevant programs at ARPA-H, Blueprint Neurotech, CHIPS and the FDA breakthrough programs. The third morning panel will discuss “Social Impacts of MedTech”, moderated by Kory Bailey of Upsurge Baltimore, and will discuss topics of Women/Infant health technologies, developments in Health System interoperability and programs at MedTech Color to build a community of leaders of color in the medical device industry.
Afternoon sessions will have multiple tracks discussing specific MedTech execution issues, such as the development of business strategies, validation of revenue models, transitional manufacturing approaches, and workforce development issues, among other topics.
More information is available at https://lu.ma/0nhcovj1
NOTE: EVENT HAS BEEN FULLY SUBSCRIBED. PLEASE SIGN UP FOR THE WAITING LIST OR DELIST RSVP IF UNAVAILABLE TO ATTEND
About Evergreen Advisors:
Evergreen Advisors is a middle-market investment bank and corporate advisory firm focused on servicing organizations throughout their financial lifecycles to drive successful outcomes. Serving the Mid-Atlantic region, including Maryland, Washington D.C., Virginia, and Pennsylvania, Evergreen Advisors, LLC was formed in 2001 to provide innovative and strategic solutions to meet our client’s evolving business needs.
Navigating the Sunset of the Higher Gift and Estate Exemptions
In 2018, as part of the Tax Cuts and Jobs Acts (TCJA), the lifetime exemption limit for estate and gift tax purposes was increased to allow individuals to transfer double the previous amount over their lifetime without incurring taxes. Presently, individuals can transfer up to $13.61 million, while married couples can transfer up to $27.22 million. As a result of this change, high-net-worth individuals whose estates are subject to transfer taxes have an opportunity to significantly reduce future estate and gift taxes.
However, as the expression goes, all good things must come to an end. As it currently stands, the lifetime exemption is scheduled to sunset at the end of 2025 and drop back to $5 million as of January 1, 2026. Additionally, the maximum gift and estate tax rate (currently 40%) will increase to 45%. The sunset provision, if not extended, could significantly impact the financial benefits of generational gifts unless Congress intervenes.
Considering this timeline is crucial for individuals planning to leverage the current favorable limits, it is important to start implementing estate planning strategies now, while there is still time.
Actionable Strategies:
- Gifting Shares of Privately Held Businesses and FLPs: Gifting shares of stock in a privately held business and family limited partnerships (FLPs) is an effective strategy to utilize the current lifetime exemption and increase personal tax deductions. This approach provides an avenue to transfer assets with growth potential such as business interests, real estate and stocks held in closely-held entities.
- Charitable Gifts for Tax Efficiency: Charitable gifts represent another avenue to navigate tax implications. Making charitable gifts can help individuals avoid capital gains on future sales and simultaneously increase personal deductions. This strategy aligns with both philanthropic goals and financial planning.
Next Steps:
While there is still time to make decisions and take advantage of current exemption limits, the planning process can be lengthy, so it is essential to have conversations today. An effective plan requires input from a team of professionals including estate attorneys, accredited business valuation professionals, wealth managers and tax experts. For reliable business valuation advice and well-reasoned opinions, the Business Valuation Practice Group of Evergreen Advisors is here to assist.
Our expertise covers various industries, offering services such as Estate and Gift Tax Planning, Fair Value for Financial Reporting, Equity Incentive Plans (409A), Employee Stock Ownership Plans (ESOPs), Transaction Support, and Fairness & Solvency Opinions. For inquiries, please contact us at 410-997-6000.
2023 Annual Market Update: Aerospace, Defense, & Government Services
Discover the latest insights from the 2023 Annual Industry Market Report by Evergreen Advisors Capital for the Aerospace, Defense, and Government Services (ADG) sector:
Read More Here:
Key Findings:
– Middle-market M&A continued to be the catalyst for dealmaking in 2023 due to the relative ease with which smaller deals can be funded at current interest rates.
– The ADG sector persisted through a tighter M&A environment, leading to a 10% YoY increase in deal volume.
– While public companies remained active acquirors, private equity groups continued to drive the bulk of acquisition activity.
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About Evergreen Advisors Capital
Evergreen Advisors Capital, LLC is a leading investment banking and corporate advisory firm headquartered in Columbia, Maryland, focused on assisting emerging growth and middle-market companies in the areas of corporate finance, mergers & acquisitions, business valuations, location strategies, and outsourced CFO advisory services. For more information, visit www.evergreenadvisorsllc.com
Evergreen’s Shelly Carmichael to Attend Business Facilities LiveXchange
Shelly Carmichael, Vice President of Evergreen Location Strategies, will attend the 20th annual Business Facilities LiveXchange event in Richmond, Virginia, March 17-19th, where she will join economic development and site selection professionals from across the country.
Evergreen CFO Spotlight: John Goode
For this feature, we interviewed John Goode in Evergreen Advisors’ CFO Advisory Practice. John has over 25 years of executive financial management experience in private and public accounting, where he provided strategic financial advice on process improvement in the construction, technology, and government services sectors. Learn more about John, his career at Evergreen, and whether he likes Pineapple Pizza.
What first made you interested in CFO Advisory?
In 1990, I established a CFO advisory practice in the Maryland, DC, and Virginia markets and built it to seven full-time CFOs. The one-on-one advisory services and the variety of clients and needs kept it different and fun. Providing companies with advisory services that help create value and corporate efficiencies brings me a tremendous amount of satisfaction, accomplishment, and worth.
[Read more…]New Proposed Tax Bill Includes Changes That Impact Valuations
In providing valuations for clients for a variety purposes, including financial reporting or estate and gift tax planning engagements, preparers should consider the impact on value of both State and Federal tax-related provisions.
Tax provisions are frequently changing, whether it be due to a change in the Presidential administration or due to significant events such as COVID-19, and it is incumbent upon preparers of valuations to understand and appropriately implement these ever-changing tax rules.
Take the Tax Cuts and Jobs Act of 2017 (the “TCJA”), signed into law during the Trump administration, overhauled the Federal tax code through reforms for both individuals and businesses. Features of the TCJA which impacted businesses included:
- Lowering the corporate income tax rate from 35.0% to 21%
- Removing the carryback period for accrued net operating losses (“NOLs”) however, allowing for an indefinite carryforward period for NOL’s at an amount equal to 80.0% of each subsequent year’s taxable income
- Limiting the amount of net interest a business could deduct against taxable income
- Amending Section 168(K) of the tax code to allow for accelerated cost recovery (“bonus depreciation”) for certain qualified property, and v) amending Section 174A of the tax code to require research and experimental (“R&E”) expenditures, including software development costs, to be capitalized and amortized over a five-year period beginning in tax years after 2021
Evergreen Advisors advises Ultimate CNG on its sale to Critical Infrastructure Holdings
Evergreen Advisors Capital, a middle-market investment bank, announced that it advised Ultimate CNG, LLC (“UCNG”) on its sale to Critical Infrastructure Holdings, LLC (“CIH”).
Headquartered in Chantilly, Virginia, UCNG is a leading mobile deployment provider of compressed natural gas and liquefied natural gas services. UCNG’s core capabilities encompass a wide range of offerings, including pipeline interruption support, peak shaving, virtual pipeline, power generation, methane capture, and mobile natural gas vehicle fueling services. Ultimate CNG provides a full range of services and equipment to handle both planned and unplanned pipeline interruptions.
Evergreen Location Strategies attends SFA Winter Fancy Food Show
Shelly Carmichael and Morgan Trask of Evergreen Location Strategies will attend The Specialty Food Association’s 48th Annual Winter Fancy Food Show in Las Vegas this week, which brings together more than 1,200 domestic and global specialty food and beverage makers and manufacturers.
Evergreen Advisors Promotes Shelley Lombardo to President
COLUMBIA, MD – Evergreen Advisors, LLC is pleased to announce the promotion of Shelley Lombardo to the position of President. This appointment reflects her outstanding contributions to the company and her proven leadership capabilities.
Highlights from ASA’s 2023 Fair Value Conference
On 12/7/2023, the American Society of Appraisers (ASA) held its 2023 ASA Fair Value Virtual Conference – Winter.
Below are a few key takeaways from the conference:
Valuation Credentials: The AICPA, ASA, and RICS will be sunsetting the Certified in Entity and Intangible Valuations (CEIV) credential. Ultimately the decision was that this credential was too costly and that the adoption rate was too low to be meaningful. In turn, the Mandatory Performance Framework (MPF) that CEIV holders were subject to will no longer be mandatory, but rather will be revised as a ”best practices” document. The goal of revising the MPF is to streamline, shorten, and simplify the document.
[Read more…]Evergreen’s Shelley Lombardo Re-elected to Vice Chair of the Cybersecurity Association of Maryland
The Cybersecurity Association of Maryland, Inc. (CAMI), a regional membership association leading the advancement of cybersecurity through advocacy and collaboration, today announced new appointments to its Board of Directors, including its Executive Committee.
CAMI’s Board of Directors, composed of 24 prominent technology and cybersecurity leaders, remains at the forefront of driving the organization’s programming to best accommodate CAMI’s over 700 members and the broader regional cybersecurity community. The Executive Committee consists of:
● Chair: Chuck Faughnan III, CEO of Personam.AI
● Vice Chair: Shelley Lombardo, COO of Evergreen Advisors
● Treasurer: Tina Kuhn, President at The Lanzar Group
● Secretary: Sarah Woods, Founder & President of VenturePotential
● Assistant Secretary: Dr. Tim Schilbach, CEO of Penacity, LLC
2023 Q3 Market Update: Aerospace, Defense, & Government Services
Evergreen Advisors Capital is excited to announce the release of our 2023 Q3 Market Update for the Aerospace, Defense, & Government Services Market. This comprehensive report offers industry insights, highlighting noteworthy transactions, an analysis of M&A and private placement activity, and essential data on valuation metrics and stock price performance.
Why Hire an Outsourced / Fractional CFO?
In today’s rapidly evolving business landscape, companies face numerous challenges in managing their financial operations effectively. From navigating complex regulations to optimizing financial strategies, the role of a Chief Financial Officer (CFO) is paramount in ensuring a company’s financial health and strategic growth. However, for many small and medium-sized businesses (SMBs), hiring a full-time, in-house CFO may not be feasible due to various constraints such as budget limitations or lack of need for a full-time executive. In such cases, outsourcing CFO services emerges as a compelling solution that offers numerous benefits and strategic advantages.
1. Cost Efficiency
One of the primary reasons businesses opt for outsourced CFO services is the cost efficiency it provides. Hiring a full-time CFO entails significant expenses, including salary, benefits, and overhead costs. In contrast, outsourcing CFO services allows companies to access high-level financial expertise without the hefty price tag associated with a full-time executive. By paying for services on an as-needed basis, businesses can effectively manage their financial resources and allocate capital to other critical areas of operation.
[Read more…]When Not to Implement an ESOP: Considerations for Businesses
Employee Stock Ownership Plans (ESOPs) have gained popularity as a way for companies to engage and incentivize their employees while providing a path to ownership. ESOPs can be a powerful tool for fostering a sense of ownership and alignment within a company. However, like any business strategy, they are not a one-size-fits-all solution. In some scenarios, there are better courses of action than implementing an ESOP. In this blog, we’ll explore some critical situations where business owners should carefully consider the risks and rewards of implementing an ESOP.
Financial Instability
ESOPs require a substantial financial commitment from the company, as cash flow is utilized to fund the ESOP transaction and to provide ESOP benefits. Implementing an ESOP could exacerbate these challenges if a business faces financial instability, such as declining revenues, mounting debt, or cash flow issues. In such cases, the priority should be stabilizing the company’s financial health before considering an ESOP.
[Read more…]Evergreen Advisors Capital advises PRKK on its sale to SPA, an Arlington Capital Partners Portfolio Company
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Systems Planning & Analysis (“SPA”), a leading global provider of strategic advisory, systems engineering, modeling and simulation, advanced analytics, industrial policy, and program management solutions to government and defense customers, has acquired PRKK, LLC.
Founded in 2006, PRKK’s mission is the advancement of Space Domain Awareness and Space Superiority. PRKK is a recognized leader in large, cross-domain studies and analyses for clients such as the Office of the Secretary of Defense Strategic Capabilities Office (OSD SCO), U.S. Space Force, Space Security and Defense Program, and the Intelligence Community. PRKK has operations across the U.S. including Washington, D.C., Colorado Springs, CO, and Vandenberg SFB, CA.
[Read more…]Unlocking the Potential for Economic Incentives for Growth
Billions of dollars are invested into U.S. businesses every year by economic development agencies across the country. These investments come in the form of tax credits and incentives aimed at attracting, recruiting, and supporting targeted industries. However, many companies are unaware of the existence of these incentives or mistakenly believe they don’t qualify. Even those who receive incentives often fail to maximize their benefits due to various reasons. In this blog, we will explore the importance of incentives, qualifying criteria, the best time to seek incentives, and the significance of performance metrics and proof of performance reporting.
Unveiling the Incentives:
Economic development agencies offer a range of incentives to attract and retain businesses. These incentives, often provided as cash or cash-like benefits, can have a significant impact on a company’s EBITDA. Some common examples include training grants, site preparation grants, land/property donations, utility rate reductions, permit fee waivers, cash for jobs, infrastructure upgrades, railway extensions, and property tax abatements. Additionally, there are numerous project-specific incentives that are not widely publicized on economic development websites.
[Read more…]Evergreen Advisors Welcomes Back Director Will O’Donnell to Corporate Advisory Practice
Evergreen Advisors is delighted to announce the return of William O’Donnell as a Director in our Corporate Advisory Practice. With a wealth of experience spanning CPA and corporate advisory domains, Will brings a distinctive expertise to his role.
Will’s extensive skill set covers areas including estate and gift tax, ESOPs, business combinations, goodwill impairment, IRC Section 409A compliance, and more. He excels in complex financial matters, including dissenting shareholder concerns, Subchapter-S elections, and marital dissolution.
[Read more…]Evergreen’s Mike Gill Joins Loyola’s Innovation Advisory Board
Loyola University Maryland’s Simon Center for Innovation & Entrepreneurship proudly announces the formation of its inaugural advisory board, featuring prominent business leader and entrepreneur, Mike Gill, Chairman of Evergreen Advisors. This new advisory board is poised to play a pivotal role in advancing the mission of the Simon Center by offering expert guidance and leveraging their extensive networks to bolster educational programs for students and entrepreneurs in Baltimore.
[Read more…]Outsourcing CFO Services: Unlocking Growth Potential for Your Company
In today’s dynamic business landscape, companies are constantly seeking innovative ways to streamline operations, optimize resources, and drive growth. One area that plays a pivotal role in achieving these objectives is financial management. As businesses strive to reach the next level, the question arises: Should you hire an outsourced CFO? In this blog post, we will explore the key considerations and advantages of engaging the services of Evergreen Advisors’ Outsourced CFO advisory group to help propel your company toward success.
Defining Your CFO Needs:
Before deciding to outsource the CFO role, it is crucial to assess your organization’s requirements. What aspects of financial management could be improved or could benefit from expert guidance? Outline your wish list for taking your company to the next level. A CFO brings financial expertise, strategic insights, and valuable advice to the table, assisting the CEO and senior executives in making informed decisions.
[Read more…]Aerospace, Defense, & Government Services Market Update
Evergreen Advisors Capital is excited to announce the release of our Q2 2023 Aerospace, Defense, & Government Services Market Update. This comprehensive report offers industry insights, highlighting noteworthy transactions, an analysis of M&A and private placement activity, and essential data on valuation metrics and stock price performance.
Read more or Download Here:
[Read more…]Entrepreneur Spotlight: Simple Cell
In this edition of our Entrepreneur Spotlight, we’re thrilled to showcase one of our remarkable Outsourced CFO clients, Simple Cell, and highlight its co-founder, Nick Skelly. As a pioneering re-commerce company, Simple Cell has forged strong partnerships with manufacturers, national distributors, and big-box retailers. Their mission is to maximize the value and extend the life cycle of customer returns, overstock items, and end-of-life products. With its cutting-edge e-commerce and logistics platforms, Simple Cell is revolutionizing how products find their way into the hands of those who genuinely need them.
[Read more…]Southern Garrett High, GRIT, Actions Not Words, Steel Curtain, We Are Family, “Just Swing the Bat”
An Interview with Rob Sharps, Chief Executive Officer and President, T. Rowe Price
In January 2022, Rob Sharps officially became CEO of T. Rowe Price Group. Growing up in Garrett County and attending Southern Garrett High, Rob’s career has been special and accelerated quickly.
He went to Towson University, majored in accounting, and got his CPA soon after graduating. By Rob’s own admission, he wasn’t “Ivy League material” coming out of high school. Cars, girls, and sports had a higher priority for teenage Rob. It was at Towson, where the lightbulb went off, and Rob graduated at the top of his class.
He has an MBA from Wharton and worked at KPMG and Wellington before joining T. Rowe Price in 1997.
Rob and I sat down recently and covered a wide range of topics. During our interview, Rob’s passion for “everything” came through consistently, starting with his two families, the Sharps and T. Rowe Price.
His authenticity, openness, and candor are three of his greatest leadership qualities that stood out during our hour together. Baltimore is fortunate to have Rob Sharps and T. Rowe Price.
Enjoy the interview and thank you, Rob, for spending quality time with me.
Mike Gill
Chairman
Evergreen Advisors
Tax Benefits Await Investors in Small Business Stock
For many years, investors in qualified small business stock (QSBS) have sought to take advantage of a little-known tax election under Section 1202 of the Internal Revenue Code (IRC). Subject to certain eligibility requirements (outlined below), Section 1202 allows stockholders to claim an exclusion from the gain on the sale of QSBS for federal income tax purposes. The gain exclusion could be very significant depending on facts and circumstances. The realization of this benefit has become more likely with the passage of the Inflation Reduction Act because none of the proposed amendments, which were meant to curb Section 1202 benefits, were adopted.
The following are some of the essential eligibility requirements to qualify for Section 1202 gain exclusion:
[Read more…]Incentives Unleashed: Maximize ROI on Business Expansions
Billions of dollars are invested into U.S. businesses every year by economic development agencies across the country. These investments come in the form of tax credits and incentives aimed at attracting, recruiting, and supporting targeted industries. However, many companies are unaware of these incentives or mistakenly believe they don’t qualify. Even those who receive incentives often fail to maximize their benefits due to various reasons. In this blog, we will explore the importance of incentives, qualifying criteria, the best time to seek incentives, and the significance of performance metrics and proof of performance reporting.
[Read more…]Evergreen advises JRAD on its sale to Sayres Defense, a portfolio company of Broadtree Partners
Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Sayres Defense, a Broadtree Partners portfolio company, has acquired Joint Research and Development (JRAD). Broadtree Partners is a middle-market private equity firm with a specific focus on aerospace, defense, intelligence, and federal civilian government services. JRAD is a leading provider of test and evaluation services, total life-cycle acquisition support, medical and public health preparedness, and science and technology research and development to government customers including DOD, DHS, and Federal Civilian Agencies. JRAD has extensive expertise in defense and homeland critical areas including weapons of mass destruction, emerging CBRN threats, modeling and simulation, systems engineering and integration and laboratory and non-laboratory sciences.
[Read more…]Evergreen Advisors Adds New Shareholders
Evergreen Advisors, a middle-market Investment Banking and Corporate Advisory firm with offices in Columbia, MD, and McLean, VA, is pleased to announce the admission of four new partners to the firm. Shelley Lombardo, Steve Prichett, Eric Clarke, and Patrick Lowry have been key members of the firm and have made significant contributions in accelerating the growth and success of our firm.
“This is an exciting time for Evergreen Advisors,” said Rick Kohr, CEO of Evergreen Advisors. “Over the past year, we have celebrated our move into new headquarters in the Merriweather area of Columbia and witnessed substantial growth across all practice areas of the firm. Equally significant, we are thrilled to welcome four highly-valued team members as owners, which is a remarkable achievement that recognizes their excellence in their respective areas of expertise and their unwavering dedication to our clients. We take immense pride in commemorating this exciting milestone with these well-deserved promotions. Evergreen feels fortunate to have such an exceptionally talented group of individuals to assume increased responsibilities as our firm continues to grow. We extend our heartfelt congratulations to them on this significant accomplishment.”
[Read more…]
Behind the Scenes with Fred Shaw: Vice President at Evergreen Advisors and Outsourced CFO at BTS
Fred Shaw is a Vice President in the CFO Advisory Practice of Evergreen Advisors, LLC. With diversified experience in both public and private accounting, Fred has provided financial advisory services to clients in various industries, including Manufacturing, Health Care, Service, and Government Contracting. At Evergreen Advisors, Fred helps businesses achieve their financial goals by providing tailored financial solutions that can help them grow, optimize operations, and improve financial performance. Whether clients need to improve cash flow, raise capital, or navigate complex regulatory requirements, Fred has the knowledge and expertise to guide them through the process.
[Read more…]Evergreen’s Jeff Reed to Attend Business Facilities LiveXchange
Jeff Reed, Senior Vice President of Evergreen Location Strategies will attend the 19th annual Business Facilities LiveXchange event in Myrtle Beach April 24th -26th where he will join professionals from across the country. With over 30 years’ experience in location analysis, site selection, and business incentive services, Jeff brings a wealth of knowledge and strategic consulting to not only corporate entities in the U.S. and abroad, but also to economic development agencies and communities seeking to gain a competitive edge. He is an expert in creative solutions to ensure ELS clients increase project ROI by maximizing incentives such as tax abatements and cash grants for infrastructure, new jobs, machinery and equipment, employee training and much more.
[Read more…]Cash Flow Management During a Recession
A recession is a period of economic slowdown that can have far-reaching consequences for businesses and individuals alike. With that in mind, it is more important than ever to be proactive and take control of one’s cash flow. It is a critical for both businesses and individuals to navigate the challenges posed by a recession.
Here are five ways to manage cash flow during a recession.
Evaluate all your outgoing expenses and prioritize them based on importance. Pay bills for essential services first, such as utilities, rent, and payroll. Evaluate if you are able to delay or renegotiate payments for non-essential expenses. Extending terms just five to ten days can have a huge compounding impact on your cash outlook.
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