Our Staff
- Jerry V. Smith
- CPA
- Toggle Full Resume for Jerry V. Smith
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PERSONAL
- Married - Three Adult Children
- Date of Birth: September 18, 1942
EDUCATION
- MBA 1967 - Texas Tech University, Lubbock, Texas
- BBA 1965 - Texas Tech University, Lubbock, Texas, Accounting
- Texas Christian University, Ranch Management Program
(Graduated, December 2001)
PROFESSIONAL
- Certified Public Accountant
HONORS
- Distinguished Alumnus 2001, Texas Tech University Rawls College of Business
SUMMARY OF BUSINESS ENTITIES OWNED (100%) AND TRUSTEESHIPS
- The Royal Gorge Company of Colorado, Inc. (Entertainment Park and Scenic Park)
- J.V. Smith Oil Company/Energy Partners, Inc./Espuela Resources, LLC (General Partners in Oil & Gas Investment Partnerships and Operator of 3 Gas Wells)
- J.V. Smith Professional Corporation, CPAS
- Caprock Capital, LLC, a Registered Investment Advisor (Asset Allocation and Related Consulting)
- CEO and Co-Trustee, Lupe Murchison Foundation
- Co-Trustee of Trust u/w of Hugh Bancroft Jr., Article Third
SUMMARY OF EXPERTISE
- Currently and since 2001, CEO and Co-Trustee, Lupe Murchison Foundation
- Currently and since 2007, Co-Trustee of Trust u/w of Hugh Bancroft Jr., Article Third
- 1981 – 2001, President of The Royal Gorge Company of Colorado, Inc., an entertainment and scenic park, near Canon City, Colorado.
- Currently and since 2001 – Owner of The Royal Gorge Company of Colorado, Inc. Purchased 100% of outstanding stock on November 1, 2001.
- Since mid 1990s, President and Owner of JV Smith Oil Company and Energy Partners, Inc., General Partners and investors in thousands of producing oil and gas properties (sold most in 2004; new entities – Espuela and Espuela II – in 2005) primarily through Espuela Gas Partners 2005, LP and Espuela Gas Partners II, LP, who invests with Wynn-Crosby Energy. Also operator of 3 gas wells.
- In 2006, formed Caprock Capital, LLC, a Registered Investment Advisor, to assist clients with Asset Allocation and related activities (primarily in joint ventures with other consultants until 2010).
- Currently and since 1981, owner of J.V. Smith Professional Corporation, CPAS with emphasis 1) as Operational, Business, and Financial Manager for Mrs. John D. Murchison (Co-Executor of her Estate from July 3, 2001 to 2006 and Co-Trustee of her Foundation since 2001)) and, prior to 1986, the Estate of John D. Murchison (employed by both as a Consultant rather than as direct employee), including land development and Presidency and/or Directorship of many companies, including one public company and 2) on a tax and accounting practice, with delegation of duties except overall management, to the Vice President of the Company.
- From 1990 to 2003, President of Metropol Properties of America, Inc., a real estate company, owned by a German individual, which purchased and managed a major office building, Park Place on Turtle Creek, a "trophy" office building across from the Mansion Hotel, Dallas, Texas.
- From October 15, 2003 to 2006, President and Owner of Extreme Realty, LP which, until the summer of 2006 when the building was sold, was the contract manager of "Park Place on Turtle Creek," owned by a partnership formed by Lionstone Group, Houston with a State of Oregon Pension Fund.
- From 1994 to 2007, President of Preston Trails Land Company, Inc. which developed approximately 120 single family residential lots and homes at Cambridge Place at Preston Trails, Dallas, Texas adjacent to Preston Trails Golf Club.
- Co-Executor, Estate of John Lawrence, former CEO of Dresser Industries
- Co-Executor, Estate of Janet Lawrence, Spouse of John Lawrence
- Co-Executor, Estate of Lucille G. Murchison
- Executor, Estate of Gladys Howard
- Three and one-half years as Chief Financial and Administrative Officer of an independent oil and gas company, Tyler, Texas.
- One year as Controller and Board Member of $1/2 billion dollar petrochemical company.
- Seven years with a "Big 4" CPA firm, including three years as Audit Manager with emphasis in SEC practice.
BUSINESS EXPERIENCE
- J.V. SMITH PROFESSIONAL CORPORATION, CPAS, Dallas, Texas
- 1981 - Present
- Positions: President, Director, and Sole Shareholder
- In business as a CPA firm, which includes responsibility for various accounting and tax clients and for total operational, business, and financial management of business and financial affairs of Mrs. John D. Murchison (Co-Executor of her Estate from July 3, 2001 to 2006; Co-Trustee of Lupe Murchison Foundation which was funded principally in December 2006) and, from 1981 to 1985 (when the Estate was distributed) responsibility for total business, operational and financial management of Estate of John D. Murchison, Sr.
- Also from 1990 to 2003 responsible, as President of Metropol Properties of America, Inc., for operations and purchase in the United States for a German developer and investor of major office building in Dallas, Texas. From October 15, 2003 to the summer, 2006 a President and Owner of Extreme Realty, LP which was the contract manager of "Park Place on Turtle Creek," owned by a partnership of Lionstone Group, Houston and partially by the State of Oregon Pension Fund.
- Also, active principal in real estate development in Dallas, Texas.
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- Management Services and Responsibilities
- CEO and Co-Trustee, Lupe Murchison Foundation since 2001
- Co-Trustee of Trust u/w of Hugh Bancroft Jr. Article Third since 2007
- Mrs. John D. Murchison (since July 3, 2001 Estate of Mrs. John D. Murchison, Sr.) – Administrator and Manager or her affairs from 1981. Mrs. Murchison had diversified holdings, including extensive real estate, oil and gas, stocks, bonds, ranching, plantations (farming), scenic park, and extensive other investments and operating companies.
- Estate of John D. Murchison, Sr. (1981 to 1985) – Administrator and Manager. Estate had diversified holdings, including extensive real estate, oil and gas, stocks, bonds, ranching, plantations (farming), scenic park, and extensive other investments.
- The Royal Gorge Company of Colorado, Inc. – President and Director 1981 through 2001 (Owner since November 1, 2001). The Bridge and Park is a scenic attraction which has 275,000 to 500,000 guests per year. Company was purchased on November 1, 2001.
- Preston Trails Land Company, Inc. – As President, responsible for development of approximately 120 single family residential lots at Cambridge Place at Preston Trails, Dallas, Texas.
- Various other companies controlled by The Estate of Lucille G. Murchison and the Estate of John D. Murchison – Officer and Director.
- Spectradyne, Inc. – Director (Public company in entertainment business)
- New York Venture Capital – Business Development Fund II and III and Abbingdon Fund II and III – Advisory Director (Purchases companies and takes them public).
- Manage companies, estates (estate administration), trusts, personal affairs of individuals, analyze investments (economics and tax), monitor and evaluate cash flows vs. budgets, structuring and preparation of investment packages, planning for land development.
- Negotiating expertise (buying and selling companies and other assets) and litigation management and consulting.
- Turnaround ("workout") experience – 2 companies.
- Extensive real estate development and re-zoning experience.
- President of various companies owned by a German investor. Companies purchased and operated major office buildings in Dallas, Texas.
- From October 15, 2003 to 2006 responsible as President and Owner of Extreme Realty, LP which is the contract manager of "Park Place on Turtle Creek," owned by a partnership owned by Lionstone Group, Houston and the State of Oregon Pension Fund.
- General Partner Responsibilities - Partnerships
- President Espuela Resources, LLC and Energy Partners, Inc. - Ten oil and gas production partnerships, (Energy Partners, Inc., Espuela Resources, LLC and J.V. Smith Oil Company, Managing Partners of various partnerships which invests with Wynn-Crosby, Inc., oil and gas operator)
- Oil and gas production joint ventures, (J.V. Smith, Co-Managing Venturer and Vernon E. Faulconer, Managing Venturer and oil and gas operator)
- Financial and Estate Planning, Income Taxes and Accounting Services
- Entity (business planning) and personal financial planning services and Estate planning
- Income Tax
- Preparation and review of corporate, personal, partnership, sub-chapter S corporate, trust, estate, and other tax returns
- Personal tax planning and management
- Management Services and Responsibilities
- CAPROCK CAPITAL, LLC, Dallas, Texas - Wealth Management and Institutional Fund Consulting
- 2006 - Present
- Position: Member (Co-Owner)
- Founded in 2006, Caprock Capital is a registered investment advisor, supervising the management of approximately $150 million in assets plus individual trustee of $450 million on behlaf of high net worth clients and institutions. Employee owned since inception, Caprock's independent structure reinforces our commitment to producing strong investment performance and high levels of customer service. Our goals are completely aligned with our clients' - the creation of long-term value.
- MEWBOURNE OIL COMPANY, Tyler, Texas
- 1977 - 1981
- Positions: Board of Directors, Vice President Finance and Chief Financial Officer
- Responsible for all financial, accounting, and tax aspects and administration. Expanded to a large staff during a time oil and gas exploration and development increased from four to over seventy wells per year. Also responsible for investor relations.
- AMERICAN PETROFINA, INC.
- 1976 - 1977
- Positions: Board of Managers and Controller, Hercofina
- Extensive financial and general management experience in world-wide $1/2 billion petrochemical company. Member of Board. Duties included controllership of the company (venture) and responsibility for all financial aspects of the venture's world-wide activities. Also responsible for establishment and coordination of initial operations of an offshore trading company.
- Completed SEC registration during 1977.
- PRICEWATERHOUSE COOPERS, formerly COOPERS & LYBRAND
- 1970 - 1976
- Dallas, Texas ("Big 4" CPA Firm)
- Positions: Audit Manager, Audit Supervisor, Audit Senior
- Extensive experience in SEC auditing and reporting.
- Emphasis from 1972 to 1976 was primarily related to acquisitions and mergers (tax, accounting and economic consultations and audits) and various types of SEC filings (primarily registration statements and Form 10-K's).
- UNITED STATES ARMY, United States Army Finance School
- 1968 - 1970
- Positions: First Lieutenant, Instructor, Accounting Systems Division, Department of Accounting
- PRICEWATERHOUSE COOPERS, formerly COOPERS & LYBRAND
- 1967 - 1968
- Position: Staff Accountant (Audit and Tax Departments)
OTHER
- Distinguished Alumnus 2001, Texas Tech University, Rawls College of Business
- Texas Tech University Foundation, former Director (8 years)
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- Texas Tech University, University Investment Committee, Former Member from 1996 - 2010 (investments increased from $29 million to over $700 million, with about half earned from Investments)
- Texas Tech University, Chancellor's Council
- Texas Tech University, Red Raider Club
- Texas Tech University, Advisory Council, Rawls College of Business
- Plains Capital Bank, Board of Directors (Advisory)
- Foster Management Company (NY Venture Capital firm), Former Member Board of Advisors
- Dallas Annual Scholarship Campaign, Former Committee Member and Former Co-Chair, Texas Tech University, Rawls College of Business - about 12 years
- Texas Stampede Rodeo 2002 Top Hand (Ticket and Advertising Sales), Benefiting Dallas Children's Medical Center
- The Dallas Real Estate Council, Member
- American Institute of CPAs, Member
- Texas Society of CPAs, Member
- Dallas CPA Society
- Dallas Estate Planning Council, Member
- Independent Petroleum Association of America, Member
- Texas Independent Producers & Royalty Owners Assn., Member
- Dallas Theological Seminary, Member Board of Incorporate Members, Member and Former Chairman of Board of Trustees, Founding Chairman of Investment Committee and Chairman of Pension Committees
- Dallas Theological Seminary Foundation, Founding Investment Committee Member and Board Member
- Trinity Christian Academy, former Trustee and former Chairman of Board Trustees
- Trinity Christian Academy Foundation, former Chairman Board of Directors and former member and founding member of Investment Committee.
- Pine Cove Christian Conference Center, former Director
- RREACH International (Ramesh Richard), former Director
- Christian Community Action (“CCA”), Advisory Board (ministry to the poor)
- Grace Bible Church, Member (Non-standing Elder)
- Don Anderson Ministries, Former Director and Former Treasurer
- Evangelistic Ministries Association, Inc., Former Director and Former Treasurer
- Bible Study Host and Coordinator - over 30 years
- Scofield Memorial Bible Courses, Moody Bible Institute
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- Old Testament Course Graduate 2001
- New Testament Course Graduate 2004
- Scofield Doctrine Course Graduate 2005
- Dallas Petroleum Club, Member
- Bent Tree Country Club, Former Member
- Delta Tau Delta, Texas Tech University, Alumnus
- S-7 Securities License, lapsed in 1997
- Insurance License since 1987
- High School Football All American, 1960
REFERENCES: Available upon request.
- Mark E. Mitchell
- CPA
- Toggle Full Resume for Mark E. Mitchell
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PERSONAL
- Married - Two children
- Date of Birth: May 7, 1965
EDUCATION
- MBA 1991 - University of North Texas, Denton
- BBA 1987 - Texas Tech University, Lubbock, Texas Major: Accounting
PROFESSIONAL
- Certified Public Accountant
SUMMARY OF EXPERTISE
- Currently and since 1991, Vice President of J.V. Smith Professional Corporation, CPAs, with emphasis as Director of tax, accounting, and consulting practice. Duties include direct oversight of professional and administrative staff and delegation of duties associated with all aspects of our practice.
- Currently and since 2007, Co-Trustee of Trust u/w of Hugh Bancroft Jr., Article Third. Duties include direct oversight and responsibility of all investment and management decisions relating to the family trust.
- Currently and since 2002, President and Sole Director of The Royal Gorge Company of Colorado, Inc., an entertainment and scenic park, near Canon City, Colorado.
- Between 1996 and 2008, Vice President and Operating Manager of Preston Trail Land Company-II, Inc., a privately owned real estate company actively involved in residential development and commercial real estate planning in North Dallas.
- Currently and since 2006, President, Shareholder and Director of Caprock Capital, LLC, a Registered Investment Advisory Firm, formed to assist high net worth family offices in the oversight and implementation of their investment asset allocation process.
- Between 2003 and 2006, Vice President of Extreme Realty, LP, a property management company actively involved in the management and oversight of Park Place on Turtle Creek (14 story Class A office building) located in the Turtle Creek area of Dallas.
- Between 1991 and 2003, Vice President of Metropol Properties of America, a foreign owned corporation which owned and managed a premier Class A office complex (Park Place on Turtle Creek) in the Turtle Creek area of Dallas.
BUSINESS EXPERIENCE
- J.V. SMITH PROFESSIONAL CORPORATION, CPAS - Taxation
- 1988 - Present
- Position: Vice President (since 1991) and Tax Manager
- In business as a CPA firm, specializing in taxation (both compliance and research), my primary duties include the oversight and management of all firm professionals and staff.
- I have served as Manager and Director of our tax practice since 1992. I am responsible for the oversight of tax compliance and tax research connected with business corporations (both operating as well as acquisitions and liquidations), partnerships, LLC's, estates and trusts, and large net worth individuals.
- In addition to tax compliance, I have worked on numerous engagements relating to the formation, capital structure, and debt structure of business entities including partnerships, LLC's, C-corporations, and S-corporations.
- Lastly, I have worked with many of our clients and their professional advisors (including estate attorneys and financial advisors) in the area of estate and gift tax and family wealth transfer planning, including the structure and formation of trusts, family partnerships, and other wealth transfer vehicles.
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- Oil and gas production & exploration
- Residential and Commercial real estate development
- Restaurant operations
- Entertainment and Theme parks
- Real estate management
- Professional Service corporations
- Cattle and Ranching companies
- Public Charities and Private Foundations
- Foreign Currency Investments
- J.V. SMITH PROFESSIONAL CORPORATION, CPAS - Consulting
- 1988 - Present
- Position: Vice President (since 1991)
- In addition to tax, our firm specializes in related areas of management advisory, and consulting for small businesses.
- Experience includes the management and oversight of the financial affairs and investments for some of our larger individual clients and their families, including:
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- analysis and assessment of financial goals and investment suitability
- determination of investment policies and structure including asset allocation associated with modern portfolio theory
- implementation of investment policies
- evaluation of investment alternatives and mixes
- I have also worked on numerous engagements which involved in-depth analysis, and due diligence relating to proposed acquisitions of high risk venture capital investments for many of our clients.
- CAPROCK CAPITAL, LLC - Wealth management and Institutional Fund Consulting
- 2006 - Present
- Position: President and Member (Co-Owner)
- Founded in 2006, Caprock Capital is a registered investment advisor, supervising the management of approximately $150 million in assets plus individual trustee of $450 million on behalf of high net worth clients and institutions. Employee owned since inception, Caprock's independent structure reinforces our commitment to producing strong investment performance and high levels of customer service. Our goals are completely aligned with our clients' - the creation of long-term value.
- ARTHUR ANDERSEN & COMPANY
- 1986 - 1988
- Position: Tax Accountant and Audit Intern
- Duties included: Preparing corporate, individual and partnership income tax returns, including research and planning considerations.
PROFESSIONAL AFFILIATIONS
- Texas Society of Certified Public Accountants
- Dallas CPA Society
- American Institute of Certified Public Accountants
- Registered Investment Advisor
OTHER AFFILIATIONS
- Cottonwood Creek Baptist Church
REFERENCES: Available upon request.
- Allison K. Badgett
- CPA
- Toggle Full Resume for Allison K. Badgett
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EDUCATION AND PROFESSIONAL
- BBA - Three Degrees: Accounting, Management, and Economics
- Texas Tech University, Lubbock, Texas
- CPA - Certified Public Accountant
BUSINESS EXPERIENCE
- JV SMITH PROFESSIONAL CORPORATION, CPAS
- 1993 - Present
- Position: Tax and Accounting Contract Staff, Part-Time
- Duties Include: Tax preparation and research of complex tax issues including partnerships, limited liability companies, corporations, individuals, including high net worth individuals, estates, trusts, and private foundations; preparation of state income tax returns; preparation of sales tax returns; correspondence and resolution of state income tax issues with state taxing authorities; client communication; compilations of financial statements; budgeting; special projects; auditing; accounting; research and evaluation of firm's compliance with reporting requirements and quality control procedures; and preparation of tax estimates for both federal and state tax liabilities.
- COOPERS & LYBRAND, currently known as PRICEWATERHOUSE-COOPERS
- 1989 - 1992
- Position: Audit Supervising Senior
- Duties Include: Examination and preparation of financial statements for private and public companies, including initial public offering; supervision of audit staff; evaluation and documentation of internal controls; research of complex accounting issues; compliance testing and reporting under government contract; assisted in recruiting of new staff.
- PRICE WATERHOUSE, currently known as PRICEWATERHOUSE-COOPERS
- 1986 - 1988
- Position: Audit and tax staff; litigation support.
- Duties Include: Coordinated all areas of financial statement audits including engagement planning, supervising and reviewing staff performance, budgeting of time and fees, ensuring compliance with generally accepted auditing principles; prepared a significant number of annual financial statements and management reports, including SEC reporting; performed research and documentation of complex accounting and auditing issues; analyzed and reviewed general ledger accounts and transactions including preparation of journal entries; utilized sampling and computer auditing techniques; supervised and performed litigation and special project work including reconstruction of client accounting records, mortgage servicing reporting and bank closings.
COMMUNITY ACTIVITIES
- Junior League of Dallas
- Parkland Memorial Hospital
- Children's Medical Center
- I Am That I Am Center
- Equest
- Senior Citizens Craft Fair
- Ronald McDonald House
- Dallas Public Library
- Sunday school teacher
- Kids Kingdom Preschool – Board of Directors Member
- Volunteer, Kent Elementary School
- Volunteer, Blalack Middle School
PROFESSIONAL AFFILIATIONS
- Texas Society of Certified Public Accountants
- Texas Tech University, Ex Students Association
- Texas Tech University, Red Raider Club
- Jason C. Lockhart
- Vice President
- Toggle Full Resume for Jason C. Lockhart
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EDUCATION AND PROFESSIONAL
- MPA - Master of Professional Accountancy
- 2002 - 2003
- West Texas A&M University, Canyon TX
- BBA - Finance
- 1996 - 2001
- Texas Tech University, Lubbock TX
BUSINESS EXPERIENCE
- JV SMITH PROFESSIONAL CORPORATION, CPAs
- 2003 - Present
- Position: Vice President
- Duties Include: Tax research and consulting, tax return preparation including partnerships, LLC's, corporations, estates, trusts, and high net worth individuals; tax planning and research; compilations of financial statements; management and controllership of 14 story office building (2003 - 2006, Extreme Realty, LP); and general accounting responsibilities for J.V. Smith entities.
- West Texas A&M University, COLLEGE OF BUSINESS
- 2002 - 2003
- Position: Graduate Assistant
- Duties Included: Performed research and directed special projects within the information technology and accounting departments; instructed undergraduate business courses in a University classroom setting.
- COMPUTER INTEGRATED ACCOUNTING, JOHN GROGAN CPA
- 2001 - 2002
- Position: Staff Accountant
- Duties Included: Controllership duties for clients; compilation of financial statements; facilitated start-up and maintenance of computerized accounting systems; general office management; and payroll preparation.
- UNITED PAINTING AND WATERPROOFING INC.
- 1994 - 2000
- Position: Cost Administrator and Crew Leader
- Duties Included: Managed direct and indirect job expense accounts; assisted with administrative duties including billings, collections, accounts payable and customer service.
AFFILIATIONS
- Watermark Community Church, Dallas, TX, Member
- Texas Tech University - Ex Students Association, Dallas/Fort Worth Chapter
- Texas Tech University – Red Raider Club
- Texas Tech University – Beta Theta Pi, Alumnus
REFERENCES: Available upon request.
Contact Information
J.V. Smith Professional Corporation, CPAS
- Phone: (972) 248-2200
- Fax: (972) 250-2505
- jvs@jvsmithpc.com
- 16250 Knoll Trail Drive
- Suite 110
- Dallas, Texas 75248
All materials © J.V. Smith Professional Corporation. Contact us with any questions.