David A. Gaynor, II, ASA
16 Route 601
Belle Mead, NJ 08502
Home: (908) 829-5072
Mobile: (609) 240-7211
• Senior valuation and corporate finance professional with extensive valuation and financial modeling experience related to the valuation of business enterprise, equity, debt, options/warrants and intellectual property in connection with mergers and acquisitions, corporate restructurings, divestitures, debt recapitalizations, solvency opinions, fairness opinions and financial reporting for both corporate and private equity clients.
• Prepare and deliver various technical reports and presentations both internally and externally.
• Supervising and overseeing multiple project teams on several concurrently active projects in a fast-paced, deadline driven environment; working well both independently and as part of a larger organization.
• Over 22 years of experience working directly with senior management team members including CFOs, Controllers, VPs Financial Reporting, VPs Research and Development, VPs Manufacturing/Operations, and internal and external Legal Counsel.
Crowe LLP, New York, New York
Managing Director August 2019 – Present
Senior Manager February 2014 – July 2019
Manager January 2004 - July 2007
• Valuation group leader for the firm’s healthcare valuation services group.
• Instrumental in growing revenues of the healthcare valuation services group by over $1.0 million.
• Responsibilities include performing valuations for various purposes including financial reporting (ASC 805, ASC 350, ASC 820, and ASC 360), IRC Section 409A and SFAS 123R, mergers and acquisitions, estate and gift tax, income taxes, charitable contributions, litigation support, strategic planning, fairness opinions, and Employee Stock Ownership Plans (ESOPs).
• Responsible for training staff on intangible valuations and valuation techniques in the healthcare industry.
• Other responsibilities include the co-lead of the firm’s FAS 141/142 task force that is responsible for the training, valuation model development and implementation, and SAS 73 and 101 reviews of outside valuation experts’ reports.
CohnReznick LLP, Edison, New Jersey June 2012 - February 2014
• Led the expansion of the Company’s footprint into the New York, New Jersey, and Philadelphia markets.
• Business valuations were performed for various purposes including financial reporting (ASC 805, ASC 350, ASC 820, and ASC 360), IRC Section 409A and SFAS 123R, mergers and acquisitions, estate and gift tax, income taxes, litigation support, strategic planning, and Employee Stock Ownership Plans (ESOPs).
• Responsible for training staff on valuation techniques including intangible asset valuation techniques.
• Responsibilities included leading the firm’s restaurant valuations.
Pluris Valuation Advisors LLC, New York, New York June 2010 - June 2012
• Business valuation responsibilities ranged from preparing an initial business valuation proposal through the preparation of the final report and audit review for a variety of purposes including purchase price allocations under ASC 805 Business Combinations, goodwill impairment testing under ASC 350 Intangibles – Goodwill and Other, Impairment or Disposal of Long-Lived Assets Under ASC 360, IRC Section 409A, estate and gift taxes, income taxes, life insurance transfers, recapitalizations, and Employee Stock Ownership Plans (ESOPs) for presentation to management, directors and stockholders of client companies, as well as to attorneys and accountants.
• Responsible for training staff and the development of intangible asset valuation models and reports.
• Led the expansion of the firm’s footprint into the Delaware Valley market and the development of the Company’s life insurance valuation model and report.
• Co-authored multiple valuation case summaries and was a co-presenter on the firm’s monthly webinars regarding the Pluris DLOM Database.
Management Planning, Inc., Princeton, New Jersey
Vice President April 2008 - April 2010
Business Valuation Analyst January 1998 - October 2002
• Developed a valuation model that utilized the Bloomberg terminal and a customer relationship attrition analysis model, both of which enhanced the analyses performed by team members.
• Responsibilities included preparing an initial business valuation proposal through the preparation of the final report and audit review for a variety of purposes, including purchase price allocations under SFAS 141 and ASC 805 Business Combinations [previously SFAS 141R], goodwill impairment testing under ASC 350 Intangibles – Goodwill and Other [previously SFAS 142], estate and gift taxes, recapitalizations, and Employee Stock Ownership Plans (ESOPs).
• Responsible for training staff on intangible asset valuation techniques and the development and refinement of intangible asset valuation models and reports.
• Co-authored the firm’s response to The Appraisal Foundation’s Work Group on Contributory Asset Charges Exposure Draft on the proposed best practices for The Identification of Contributory Assets and the Calculation of Economic Rents.
Valuation Research Corporation, Princeton, New Jersey July 2007 - March 2008
• Instrumental in expanding client purchase price allocation work.
• Prepared valuation analyses, reports, and presentations for various purposes such as SFAS 141 and SFAS 141R purchase price allocations and SFAS 142 goodwill impairment testing.
• Specialized in the valuations of intangible assets including in-process research & development, software, trademarks, customer relationships, patents and copyrights.
EisnerAmper, Flemington, New Jersey October 2002 - December 2003
Supervisor, Litigation and Valuation Group
• Business valuation and litigation consulting responsibilities ranged from assisting in the initial proposal through preparation of the final report.
• Prepare business valuation opinions and economic loss analyses in connection with shareholder disputes, divorces, estate and gift valuations, buy/sell agreements, acquisitions, liquidations and sales, business interruptions, torts, contract disputes and criminal cases.
• The Litigation and Valuation Group’s clients consisted of corporate officers, corporate attorneys, and matrimonial, estate and civil attorneys.
• Responsible for training staff members in business valuation techniques and development of their case management skills.
• Responsibilities also included amending and improving the Company’s lack of marketability analysis database resultant of recent tax court decisions, including issuing monthly updates on recent tax court decisions.
Education/Growth and Development:
BS, Finance, The College of New Jersey, December 1997
Accredited Senior Analyst in Business Valuation (ASA), American Society of Appraisers
Member, Appraisal Issues Task Force (AITF)
Treasurer and Board Member, Towson University Family Network
Member, Montgomery Township, NJ Budget and Finance Committee
Crowe, LLP Web Article – “Q&A: The Benefits of Rollover Equity in Healthcare Transactions.” https://www.crowe.com/insights/healthcare-connection/qa-benefits-of-rollover-equity-in-healthcare-transactions, June 11, 2019.
Crowe, LLP Webinar – “Healthcare Valuations and Due Diligence Trends for 2019.” Online Webinar. January 9, 2019.
Gaynor, David. “Solid as Stone – Family Limited Partnership Circumvents IRC Section 2036 Attack” Published in Trusts and Estates, March 28, 2012.
American Society of Appraisers, NYC Chapter – “Analyzing the Discount for Lack of Marketability” November 9, 2010.
Bash, Ori and Gaynor, David. “Estate of Jensen Gets the Full BIG Discount.” Published in Estates, Gifts, and Trusts Journal, September/October 2010
Strafford Publications Webinar – “FAS 141R: Valuing Contingent Assets and Liabilities.” Online Webinar. July 27, 2010.
April 2009, co-authored Management Planning, Inc.’s response to The Appraisal Foundation’s Work Group on Contributory Asset Charges Exposure Draft on the proposed best practices for The Identification of Contributory Assets and the Calculation of Economic Rents.
November 2008, co-presented a discussion titled Basics of Business Valuation, to clients of Paychex, Inc.
Co-authored an article title “Early Adopters of FAS 157”, Executive Counsel, January/February 2007
June 2006, co-chaired a panel discussion titled Update on FLP’s and LLC’s and Current Developments on Valuation Related Issues, to the Louisville Bar Association - Probate Law Section
February 2006, led a presentation titled Tax Case Update – Recent FLP Tax Cases 2006, to the Louisville Estate Planning Council
April 2004, co-chaired a panel discussion titled Basic Financial Statement Analysis, to Lorman Education Services
February 2004, led a presentation titled Tax Case Update – Recent FLP Tax Cases 2004, to the Louisville Estate Planning Council
September 2003, presented a summary and critique of Lappo v. Commissioner T.C. Memo, to The Federal Middlesex County Bar Association – Tax Committee