Don Reeve had a problem. His trucking company, which hauls material all over California and beyond, had grown beyond his ability to keep an eye on it. “We were struggling to keep up with what was happening,” Don recalls. “I had put a lot of reliance on my CFO, and I wanted to get back into the driver’s seat. I used Bowman to help me get my accounting straightened out — streamlined — and got financial statements that I can use as a tool to help me manage my business. It was a huge relief.
The Bowman team not only helped to restructure the accounting function, but also worked with the company to close an unnecessary subsidiary that was muddying the financial picture. “My wife and I are blessed to have a successful business,” says Don. “We are thankful that our banker recommended Bowman to us. It’s made our lives a lot easier.”
Don Reeve, President
Reeve Trucking Company, Inc.
“I’m going to be honest with you: I hate to pay taxes!” says Gary Woody, president of Bockmon and Woody Electric Company, Inc. “Being a contractor in this environment is difficult. I have a bonding company to keep happy, a bank looking at our financial statements, and the IRS acting as though it’s a partner in my business. I need to work with someone who can keep the government’s share to a bare minimum, and allow us to keep the money we earn.”
Gary’s sentiments are not unusual for Bowman clients. We spend a lot of time helping people keep their taxes as low as possible.
“We’ve done everything we can do,” Gary says. “We have a retirement plan, we own our own building, we take good care of our employees.”
“Bowman’s been a great help,” he continues. “We ask their advice throughout the year, and they work hard to make sure that the only surprises we have are good surprises.”
Gary E. Woody, President
Bockmon and Woody Electric Company, Inc.
“I needed to find an accounting firm to be an advisor to my company that was experienced in the affordable housing field,” says Cyrus. “When the Bowman people came to meet with us for the first time, I knew it was a good fit. They were with us when we had only two low-income projects, and they continue to serve us now that we have 35 projects throughout California, helping thousands of people find affordable places to live.”
CFY Development has developed a remarkable portfolio of affordable housing units stretching from Crescent City, California to as far south as Catalina Island. Two of the company’s most notable developments are located locally—The Hotel Stockton, a 156 unit apartment building which is on the National Register of Historic Places, and The Globe Mills, a $38 million retrofit of a downtown Sacramento flour mill into a 143-unit apartment community — a project that is leading the renaissance of a neglected part of the capital.
“These deals are very delicate, not only from a construction standpoint, but from a financing standpoint,” says Cyrus. “We’re using federal and state tax credits, municipal bonds, conventional bank loans, and private equity to build these projects. There are very few accounting firms as well equipped as Bowman & Company to meet our requirements. They’ve been there to make sure we were in compliance with all of the tax and accounting regulations, and are instrumental in helping us obtain the financing we need. I’m very proud to tell my bankers and equity partners that Bowman is part of the team that makes this all happen.”
Cyrus Youssefi, President
CFY Development, Inc.