A Company Built on a Strong Value System
In 1900, Martin Luther Beistle founded The Beistle Company, a manufacturer of everyday and holiday party goods and decorations. Not long after its inception, Beistle planted permanent roots in Shippensburg, Pennsylvania, and developed products that started to gain traction in the marketplace.
Beistle found that the key to success was offering meaningful employment opportunities and building a team with a strong work ethic. The company has a “we’re all in this together” mentality, which includes sharing their profits. Early on, Beistle established a bonus program to reward employees who were creating the products. In 1976, Beistle was one of the original companies in the country to offer an employee stock ownership plan, which gives employees equity in the company. Christopher Keegan, Executive Vice President at Beistle, put it simply: “Whatever we’re accomplishing, we’re doing it together.”
Aligning with the Right Partner
In 2010, Beistle began searching for a new accounting and tax partner, and quickly discovered the Walz Group shares a similar value system to their own. Chris commented, “The Walz Group hires well-trained professionals who are dedicated to their craft. They have a smart, capable team that upholds all of their commitments.” Walz Group brings a breadth of knowledge in the manufacturing and distribution industry and supports Beistle with their corporate financial statement audits, retirement and employee benefit plan audits, tax return preparation and business advisory needs.
One of the first opportunities that Walz brought to Beistle over a decade ago was the R&D Tax Credit; a credit for taxpayers that design, develop or improve products, processes, techniques, formulas or software. With Beistle continuing to manufacture products and evolving to be more automated in the U.S., this tax credit has provided a consistent benefit over the years.
The Walz team is committed to staying current on changes to policies and regulations in order to best serve their customers. “Walz has always been out in front of timely issues. They learn about changes as soon as they are available and then help our business either maximize an opportunity or maintain compliance, whichever the case,” said Chris.
Creating Efficiency from an Unexpected Source
Recently, an outside firm approached Beistle about installing a solar array at its Shippensburg location. In order to complete this project, Beistle was successful in securing a grant from the Commonwealth of Pennsylvania. Fortunately, they had the Walz team to provide guidance and support throughout this process. “A great opportunity presented itself to make our operations more environmentally friendly,” said Chris. “The Walz team helped us understand the process of obtaining a grant and realizing federal tax credits associated with the solar installation. Ultimately, we achieved a great result with this renewable energy endeavor.”
An Integral Partner
The Walz team is dedicated to supporting Beistle as it continues the legacy it has built over the past 121 years. “We live in a complex time with ever-changing rules and regulations,” expressed Chris. “With Walz Group in our corner, we are confident that we have the information we need to make sound decisions that are appropriate for our business.”
