Industry
Lawsuit Returns $1.2M in Community Impact Fees to Cannabis Businesses
AAFCPAs would like to make Cannabis clients aware that Caroline’s Cannabis recently reached a $1.2 million settlement with the town of Uxbridge, Massachusetts contesting millions of dollars in community impact fees imposed on marijuana businesses. The lawsuit claimed that the town had not provided any documentation justifying a host community agreement (HCA) fee, which is […]
Social Equity Program Application Opening February 5th
The Massachusetts Cannabis Control Commission announced that it will begin accepting applications for the fourth cohort of its Social Equity Program (SEP) starting Monday, February 5. Applications will be accepted until April 30th, according to its press release. Applicants are eligible for the Social Equity Program (SEP) if they demonstrate they meet at least one […]
BBJ: How to apply to state cannabis grants, according to finance expert Dave McManus
Boston Business Journal (January 31, 2024) – After years of waiting, cannabis social equity companies in Massachusetts can start applying to state grants to support their businesses. Last week, the state Executive Office of Economic Development launched the “Immediate Needs Grant Program,” which is first release of grants from the state’s Cannabis Social Equity Trust […]
Construction Analytics Overview and Software Demo
AAFCPAs’ Construction Practice is pleased to share an informative dialogue about which construction financial analytics are most crucial for controlling costs, ensuring profitability, and managing project efficiency. We also offer a product demonstration presented by ProNovos, a leading financial analytics solution tailored to suit the needs of the construction industry. This webinar OnDemand will reveal […]
Immediate Needs Grant Program Funding Available, Application Due February 15th
AAFCPAs would like to make Cannabis clients aware that the Massachusetts Cannabis Control Commission announced on January 23rd the availability of financial resources with the launch of its first funding from the Cannabis Social Equity Trust Fund (Trust Fund). The Immediate Needs Grant Program will offer grants to support cannabis business license holders with urgent […]
Massachusetts’ Cannabis Social Equity Trust Fund to Soon Offer Grants
AAFCPAs would like to make clients aware that Massachusetts’ supplemental budget passed late last year includes a procedural fix to the Cannabis Social Equity Trust Fund. This means the state-wide cannabis industry, particularly communities of color, may soon gain access to millions in state funding meant to diversify entrepreneurship opportunities. One of the greatest obstacles […]
Nonprofit Challenges in Navigating Tax Issues
Nonprofit organizations are often thought to be tax exempt. But this is a misnomer, as there are many situations where a nonprofit may have to either pay or collect and remit tax. Private foundations, also under the umbrella of 501(c)(3) nonprofit organizations, are subject to a 1.39 percent net investment tax on their investment income […]
Save the Date: AAFCPAs’ 2024 Nonprofit Educational Seminar
AAFCPAs invites you to join us for our Annual Nonprofit Educational Seminar, virtual again in 2024 and considered by many nonprofit CFOs and Executive Directors to be the premier nonprofit finance educational event of the year. Our panel of industry specialists will discuss important accounting, tax, and regulatory matters that affect nonprofits along with ways […]
Ripianzi to Present at FEI-Boston/MNN Joint Event
Joyce Ripianzi, CPA, Nonprofit Partner in AAFCPAs’ Fractional CFO & Outsourced Accounting Practice, has been invited to present strategies for improving audit preparation at the joint professional development event, ‘Nonprofit Outlook for 2024: Guidance for the Year Ahead’, held by FEI Boston and the Mass Nonprofit Network. The event will be held on January 10, […]