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Get to Know GJM’s Kelly Childress

Kelly Childress Gilmore Jasion MahlerKelly Childress has settled into her new role as an administrative assistant at Gilmore Jasion Mahler. While COVID-19 has made things interesting to say the least, she's gotten to know the team. Here's a chance for you to get to know her a bit better. Enjoy this Q&A.

Describe your role at GJM: I support our Consulting and Assurance team

When did you start with GJM? December 2nd 2019

Why did you choose the accounting industry? It wasn’t so much the industry I was looking to get involved in, it was more finding the right company fit. I wanted to be a part of a company with a reputation of good customer service, family values, work life balance, and community support. GJM encompasses all of this and more.

Are you from the Toledo area originally? If not, where are you from? I grew up in Genoa and then moved to Downtown Toledo in 2019. I am in the suburbs now, making my way back to downtown.

What do you like about living in Northwest Ohio? There is always something to do, there is no reason to be bored in this city.  And even though we may have road construction nonstop, the traffic is still nothing to complain about.

Anything you’d like to share about your past professional experience? My history includes banking, nonprofit work, and IT office management. The accounting world is a whole new ballgame for me.

Do you have any pets, hobbies, family? Fitness is a passion of mine. I’m certified to teach a variety of fitness classes. I also recently did my first NPC competition and am looking forward to doing another. 

How do you like to spend your free time? I love to golf, although I don’t very well. I also enjoy a good concert, festivals, and live for college football.

Favorite song or music? I enjoy all kinds but am a country girl at heart.

Favorite book or movie? I like any light hearted, feel good type of entertainment.

Are you involved in any community organizations, do any volunteer work? My philanthropic history includes serving on the Northwest Ohio Susan G Komen Race, including chairing the event in 2012 and 2013. I’ve also been active in Junior League of Toledo, serving as President 2017-2019. Further, I served with Harbor House for over 10 years. I’m currently looking for the next endeavor to get involved in. I think most likely it would include something with autism.

What is something people may be surprised to find out about you? I am a legal Baroness. It was a title gifted to me, but as any Bravo fan knows, if you have a title, you shall be referred by it.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.

Phil Vine Joins GJM as Assurance Manager

Phil Vine Joins Gilmore Jasion MahlerWe’re excited to share that Phil Vine has joined the GJM assurance department. We asked Phil to share a bit about himself so we all can get to know him a bit better. We hope you enjoy this Q&A. Welcome to the GJM family, Phil.

Describe your role at GJM:  It’s new, so it’s in the process of being defined.  I have a background focusing on EBP audits, M&D, and engagement quality reviews and a variety of other industries and types of projects that I hope to use to provide value on lots of different fronts.

When did you come on board with GJM?  August 10, 2020

Why did you choose the accounting industry? I initially majored in Actuarial Science, but then changed colleges. My new college didn’t offer actuarial science as a major, so like most people, I assumed that because I was good at math, I should be an accountant. Fortuitously, it ended up being a good fit.

What do you like best about accounting? Public accounting offers a great combination of intellectual challenge, entrepreneurship, and opportunities to build a diverse network of relationships with people who speak the language of business.

Are you from the Toledo area originally? Yes   

What do you like about living in Northwest Ohio? The Toledo area is big enough to have plenty of things to do, but not too big to still have that small-town feel.  

Anything you’d like to share about your past professional experience?  Of the projects that I’ve had the opportunity to be involved with, my two favorites have been focused on 1) helping members of the firm who were in the process of taking the CPA exam and 2) contributing to the firm’s pursuit of advanced audit technologies and general process improvement.

Do you have any pets, hobbies, family?

  • Pets – 2 cats (Fred and Ginger)

  • Family – Wife (Lydia), 4 kids (Eva – 6, Paul – 4, Vivian and Madeline – 2)

  • Hobbies – being a dad – I do like to read, most of which is in audiobook form

How do you like to spend your free time?  What is this free time you speak of?

Are you involved in any community organizations, do any volunteer work? Is there a particular cause you feel strongly about? If so, why?

  • Director of Children’s Ministry at Wyldewood Baptist Church

  • For about 3 years, I served on the board of a local nonprofit, Leading Families Home – The organization helps equip individuals and families who have become homeless to get back on their feet and return to permanent housing.

Favorite song or music?

It’s really a pretty broad range, but here are some.

  • Newer music – Imagine Dragons, Lewis Capaldi, Piano Guys, Ed Sheeran, Andy Grammar, One Republic

  • Older music – Aerosmith, Queen, Bon Jovi

Favorite book or movie?

Again, it’s a broad range.  Here are some favorites

  • Books – Thinking, Fast and Slow; Freakonomics; The Help; The Hobbit and Lord of the Rings (books 2 and 3); Pendergast series, Cotton Malone Series, Jack Reacher Series; Indistractable; Getting Things Done; Start With Why; Scrum: The Art of Doing Twice the Work in Half the Time

  • Movies – The Pursuit of Happyness, Indiana Jones (original 3), Knives Out, Lord of the Rings movies, Harry Potter movies

What is something people may be surprised to find out about you? My wife and I had only 6 weeks between our engagement and wedding day to plan our wedding (and I believe we made a profit on it).

Once again, Welcome to GJM!

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.

How Does a Paycheck Protection Program (PPP) Loan Affect Business Valuation?

How does a PPP loan affect business valuationThe COVID-19 pandemic has brought countless financial concerns for businesses across the country as many struggle to thrive, or even survive. In this GJM Q&A blog we tackle a question any business will need to answer if they've received a Paycheck Protection Program (PPP) loan and a valuation is in the cards.

Question: How does a PPP loan affect business valuation?

Answer from Jeff Denning, CPA, ABV, CFF:  

The COVID-19 pandemic has had an enormous impact on the business sector. The U.S. stock markets were initially affected in late February. Accordingly, appraisers of closely-held businesses have generally considered additional investment risks, lower projected profits, and lower growth rates in valuation engagements using ‘as of’ dates from late February to the present date. 

If your company received a loan through the Small Business Administration’s Paycheck Protection Program (PPP), an appraiser will need to take that into account when working to arrive at a value for your business. A business appraiser should separately consider any PPP loan payable balance, offset by unused cash in the PPP account, if any, as of the valuation date and the probability of a forgiveness amount. The consideration of the use of the loan proceeds should be in management’s profit and cash flow projections and then part of the appraiser’s overall probability and scenario analysis under an income approach to valuation.    

Jeff Denning is a partner with Gilmore Jasion Mahler, LTD and has 30 years of accounting experience, with a focus on providing services as an accredited business appraiser, forensic accountant, litigation consultant, and expert witness. For the past 20 years, his career has been focused on performing business valuations, accounting investigations, and damage calculations; preparing hundreds of expert reports and appraisal reports; and providing accounting and financial expert testimony.   

You’ll find more resources related to the COVID-19 pandemic’s impact on your business at GJM’s COVID-19 Resource Center.

Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.