CLIENT SPOTLIGHT: Factory Five Racing

Factory Five Racing was founded in 1995. Over the years they have grown from a start-up business in a small garage to become the world's largest manufacturer of "build-it-yourself" component car kits. They employ a full-time crew of about 40 people, and are located in Wareham, Massachusetts (about an hour south of Boston). They make their products right here in the USA, in the heart of New England where American manufacturing was born.
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Fred and Danny Magnanimi grew up watching their father create beautiful, handcrafted jewelry in the family's Cranston, RI jewelry manufacturing business. When the boys grew up, Fred moved to New York and began working on Wall Street as an investment banker, while younger brother Danny, still enamored by the family business, stayed home. Increased competition from overseas businesses created significant challenges for the business, but Danny was confident he could find a way for the family business to evolve and thrive. This was his mission, this was his passion.
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        PS&H Counsel Elizabeth Manchester Speaks on Philanthropic Strategies for Nonprofits

        Partridge Snow & Hahn counsel Elizabeth Manchester is featured as the speaker for a session titled Philanthropic Strategies and Raising Revenue for Nonprofits Post COVID-19: Endowment Management, Planned Giving and Commercial Co-Ventures at the Nonprofit Virtual Conference hosted by Massachusetts Society of CPAs on Friday, January 22nd.

        Liz discussed how nonprofits can handle fundraising during the COVID-19 pandemic and examined why charitable organizations should consider expanding their fundraising and mission reach. She discussed why now is an opportune time to launch formal annual and planned giving programs and specific methods of giving that are more attractive in light of the current low interest rates, historic trends of giving in turbulent times, the SECURE Act and the CARES Act. Liz also covered why taking on the position of a thoughtful advisor is a successful strategy.