Associated Links:
ASA
ESOP Association
NCEO

CFAI Professional Staff
Senior valuation analyst Arlene Ashcraft has been designated an Accredited Senior Appraiser by the American Society of Appraisers in the Business Valuation discipline. The ASA designation requires five years of full time business appraisal experience, successful completion of four principals of valuation courses, and peer review of written appraisal reports.

New Digs for Our Midwest Office
CFAI's midwest office has relocated to new space in downtown Cedar Rapids. Our new offices are at 222 Third St. SE, Suite 600A, Cedar Rapids, IA., 319-731-5879. The building was renovated as part of Cedar Rapids flood recovery efforts.

Mark Your Calendar: Upcoming ESOP Conferences
ESOP Association NW Chapter: 2010 Fall Conference
Sept 15-16, 2010
Sun Valley, ID
Columbia Financial Advisors, Inc., is a sponsor of the Northwest ESOP Chapter Fall Conference, “Getting Your ESOP to Shine,” September 15-16, 2010, at Sun Valley Resort, Idaho. CFAI Principal Kathryn Daly, Chair of the Valuation Advisory Committee of the ESOP Association, will speak on valuation issues at the one-day educational session.

Midwest Conference of ESOP Champions II
Sept 23-24, 2010
Bloomington, MN
The Midwest Conference of ESOP Champions II, September 23-24, 2010 is the second Midwest regional conference presented by the ESOP Association’s Illinois, Iowa-Nebraska, Minnesota/Dakotas and Wisconsin Chapters. Senior Valuation Analyst Hillary Hughes is participating in the Advanced Valuation Issues Roundtable. The two-day conference takes place in
Bloomington, MN.

California/Western State Chapter Conference
Oct 6-8, 2010
Lake Tahoe, CA
California/Western State Chapter Conference, October 6-8, 2010, will take place at Squaw Valley/Resort at Squaw Creek, Lake Tahoe. Enjoy golf and fly fishing along with educational presentations. Early bird registration and hotel reservation deadline is September 17, 2010. Register on line: www.regonline.com/esop2010

Las Vegas Conference & Trade Show
Nov 4-5, 2010
Las Vegas, NV
This year the ESOP Association’s Las Vegas Conference & Trade Show happens November 4 & 5, 2010, at Caesar’s Palace. Online registration and hotel reservations are available at www.esopassociation.org. CFAI professionals will be among the speakers.

Articles/White Papers:
Valuation and Repurchase Obligation (Issue Brief #25)
The ESOP Association is publishing a White Paper on Valuation and Repurchase Obligation as “Issue Brief #25”, Integrated Relationship of ESOP Repurchase Obligation and Valuation. The white paper is on the ESOP Association website for members. Non-members may purchase it at the ESOP Store for $12.00.

Understanding Your ESOP Appraisal - An In-House Trustee's Viewpoint
by Kathryn F. Aschwald
Understanding your ESOP appraisal may be one of the most difficult challenges of an in-house Trustee. Often, many Trust Committees are made up of individuals with little or no financial background ... download PDF

Valuing S Corporation ESOP Companies, S Corporation ESOPs,
3rd ed., Chapter 4
by Kathryn F. Aschwald and Donna J. Walker
On January 1, 1998, corporations with employee stock ownership plans (ESOPs) became eligible to elect S corporation status, and existing S corporations became eligible to form ESOPs, without nullifying the S corporation election. For 100% ESOP-owned companies, this change in the tax laws effectively eliminates federal income taxation... download PDF