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Community & Economic Development

AAF’s extensive experience with community economic development organizations makes us uniquely qualified to best serve you.

Community & Economic Development

Community & Economic Development Expertise

AAFCPAs is a leader in the community economic development industry, providing pragmatic solutions and advice to community leaders, policymakers and practitioners who are working to improve the socio-economic well-being of their local areas.

AAF offers profit-enhancing professional advice on the financial issues common throughout this movement, sharing lessons learned in one community with similar organizations in other communities.

Community & Economic Development Expertise

Funding Sources – AAF has extensive experience working with affordable housing projects and their financing sources, such as the US. Department of Housing and Urban Development (HUD), NeighborWorks America, state and local government agencies and regional nonprofits.

Compliance Audits – We are deeply rooted in all policies and procedures for meeting Financial Accounting Standards Board requirements, Uniform Guidance / Single Audit, and Uniform Financial Report (UFR) preparation and review.

Tax Credits – Our comprehensive knowledge of all new, existing, and changing applicable tax credits in the CED industry makes us uniquely qualified to provide valuable solutions. These include new markets tax credits, federal and state historic tax credits, tax credit exchange, tax credit assistance programs, and credits for use of alternative energy sources. We provide advisory services to limited partnerships/limited liability companies during exits at the end of tax credit compliance periods.

Management Training – We provide specialized training and technical assistance specifically for your industry. We routinely present financial management workshops on topics such as budgeting, implementing financial and performance measurement systems and asset management.

Proactive Solutions for Community & Economic Development Corporations

  • Easy to understand, formatting consolidated financial statements. AAF separates operations from real estate development activities because we understand how this helps lenders and Board members to accurately evaluate the performance of individual entities and separate lines of business.
  • Examination of financial and personnel resource allocations
  • Exit plans for expiring projects to minimize tax liability

AAF’s extensive experience with community economic development organizations makes us uniquely qualified to best serve you. AAF provides audit, tax, and consulting services to community development corporations (CDCs), affordable housing and mixed-use real estate projects, and their lending institutions. Our clients consider us a best-value CPA firm because we provide that ideal combination of expertise, service, and price.