Pensacola’s legendary journalist/historian, John Appleyard, honors legacy of CPA firm Saltmarsh Cleaveland & Gund

By John Appleyard

Pensacola News Journal

March 31, 2019

When one recognizes that Pensacola became part of the United States 198 years ago, it becomes obvious there have been countless military, governmental and private organizations which have forged the city's economic history. A few such firms (and the Navy) have begun, and through capable performance have been sustained, generation after generation, coming to 2019 celebrating both age and a solid reputation.

             One such firm, Saltmarsh, Cleaveland & Gund, has now a full 75 years in existence. Saltmarsh, Cleaveland & Gund is one of the largest CPA-led business advisory firms in the southeast, serving firms and professional groups of many sizes, worldwide. The current staff of more than 150 continues to emphasize a cardinal principle that the firm has sustained from the beginning: “We have achieved success by contributing to the success of others.”

             The beginning came in Pensacola as World War II was at its height, when the community’s manufacturers, the Naval Air Station and shops along major streets were in a unique wartime period of financial struggle. Many knew they could benefit from professional assistance in meeting the complex financial paperwork which Uncle Sam had brought forth.

             The profession of certified public accountant was in its infancy, yet the need for such aid and financial counsel was obvious. Three men agreed to join forces, to begin something truly new: a professional CPA partnership, a team able to bring the benefit of personal experiences and cooperative strength into the local economy.

             The men, Thomas Saltmarsh, Harold Cleaveland and Charles Gund, shared a local background and understanding of the financial needs of the day. Through existing personal contacts, the trio found they could be of true benefit to the three existing national banks, two savings and loan associations, and the privately-owned shops at the heart of the commercial economy.

             Current partner Charles Gund Jr. remembered: “My father had been an employee of the relatively new paper mill, yet he readily knew many of the men and women who operated the familiar shops. … The 25-year-old Elebash's, the Ordon's and Douglas-Allen clothing outlets. They were considered friends. In casual conversations, he'd discovered some of the needs they faced. It was logical that businesses such as those became the first clients of Saltmarsh, Cleaveland & Gund.”

             The same held true with F. M. (Son) Turner, at First Bank & Trust Company, and George Cary, who was involved both with his own coal company and the Pensacola Home & Savings Association. It was initial links like those that enabled the newly joined CPAs to earn a solid reputation.

             Looking back, Lee Bell, shareholder and current president of the firm, remembered: “Those men — then and afterward — agreed their profession demanded operation with a set of core values, and an understanding that the firm was dealing with the delicate financial heart of their clients' affairs. This demanded a philosophy of honesty, integrity and quality service. What was needed was a willingness to go far beyond the normal call of duty in performance.”

             The war — to the east and west — ended a year later, and peace ushered in a new economic atmosphere. The 1930s had been a decade of depression, with little opportunity for development of new enterprises. Now that changed. Pensacola proved to be like many other communities, with money available for investment, and a willingness to take risks. Such an atmosphere profited from the very service which the newly established Saltmarsh, Cleaveland & Gund firm could provide.

             This was also a time when the nation was embarking on a variety of cultural programs and many charities. Into that atmosphere, the three firm founders with those who quickly came to join them, proceeded. Part of the new times were the start of the Home Builders Association and the General Contractors Association. The works of such organizations promoted the coming of many associate businesses, all of whom would require accounting and other assistance.

             Commenting recently, Charles Gund Jr., a senior shareholder and the son of a founder, said: “The years that followed sometimes produced situations where critical values were misused by some. Because our three founders held such values as critical to their work, they could and did place an emphasis on honesty and quality. Often our clients received added benefits in working through us, because accounting is a fundamental part of every business, every profession. Doing things right always has been at the base of our work. Our predecessors added respect in all dealings, plus an emphasis on doing work well. The result has been our firm’s corporate culture. Others see us for what we do, and how we do it.”

             As the firm celebrates 75 years in 2019, another core value is being stressed. Each year, the 150 employees contribute thousands of hours (and substance) to their communities. For 2019, the goal is to provide 1,944 hours of such service, taking the number from the year the firm was established.

             In Pensacola, and the many other offices of the firm, 2019 is a year of acknowledgment and a time for giving thanks. President Bell summarized: “We're proud to have been committed to our clients and communities for 75 years. This is also a time for planning our future, and what we may provide tomorrow for all whom we continue to serve.”

             (John Appleyard, a Pensacola historian, writes a weekly historical column in the Pensacola News Journal.)