EIN: 043300758
UEI: WKJ8M52KPL87
Data as of August 19, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 14, 2023. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by November 14, 2023, which was (1010 days ago).
What is a management decision? →Department of Housing and Urban Development Finding No. 2022-001 Late Filing; Assistance Listing Number 14.157 Supportive Housing for the Elderly Criteria Audited financial statement data submissions are due within 90 days of the fiscal year end. Statement of Condition The audited annual financial statement data for the year ended December 31, 2021 was not timely submitted to HUD via the Real Estate Assessment Center (REAC) system and data collection form. Cause The Sponsor required additional time for resolving entity fees and accounting related matters. Effect or Potential Effect The audited annual financial statement data was not filed timely to REAC. Recommendation Audited financial statements should be timely filed. Auditor Noncompliance Code Other. Views of Responsible Officials The Sponsor made note that audited financial statements should be timely filed. Finding Resolution Status Resolved.
Finding No. 2022-001 Late Filing; Assistance Listing Number 14.157 Supportive Housing for the Elderly Recommendation Audited financial statements should be timely filed. Action Taken The Sponsor made note that audited financial statements should be timely filed.
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 8, 2023. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by July 8, 2023, which was (1139 days ago).
What is a management decision? →Unauthorized Distributions Department of Housing and Urban Development Finding No. 2021-001; Section 202 Capital Advance, Assistance Listing 14.157 Criteria: Per the HUD Regulatory Agreement, the Corporation may not make payments from project cash without the approval of HUD. Condition: The Corporation incurred and paid the Sponsor fees totaling $45,000 which represent $15,000 for each of the years of 2021, 2020 and 2019. The amount due to the Project as of December 31, 2021 is $45,000. Cause: Management believed the fees were appropriate based on their understanding of the facts and circumstances. Effect or Potential Effect: The Corporation is not in compliance with HUD laws and regulations. Questioned Cost: $45,000 Context: Subsequent to year end, it was brought to management?s attention by HUD that the fees disbursed to the Sponsor for 2021, 2020 and 2019 would be required to be repaid to the Project. Recommendation: Management should immediately reimburse the amount due to the project and establish procedures to ensure payments of this nature are not made in the future. Identification of Repeat Finding: N/A Auditor Noncompliance Code: Unauthorized distribution of project assets. Finding Resolution Status: Resolved. As of the date of the Auditors? Report the Sponsor has returned the requested funds to the Project. Views of Responsible Officials: The Corporation has repaid the fees to the Project as requested by HUD.
Finding No. 2021-001; Section 202 Capital Advance, Assistance Listing 14.157 Material Weakness: See Finding 2021-001 Recommendation: Management should immediately reimburse the amount due to the Project and establish procedures to ensure payments of this nature are not made in the future. Action Taken: The Sponsor has repaid the fees to the Project as requested by HUD.
Mortgage/Reserves - Delinquent deposits to the residual receipts reserve Department of Housing and Urban Development Finding No. 2021-002; Section 202 Capital Advance, Assistance Listing 14.157 Criteria: Residual receipts reserve deposits should be made within 90 days of year end. Condition: During the year ended December 31, 2021, management did not make the required residual receipts reserve deposit in the amount of $10,827 within 90 days of year end, as required by HUD. Cause: Controls are not in place to ensure that required residual receipts reserve deposits are made timely. Effect or Potential Effect: The Project is not in compliance with the requirements of the regulatory agreement. Questioned Cost: N/A Context: Management did not have controls in place to timely monitor surplus cash flow in order to make a timely determination of surplus cash, if any, to be deposited into residual receipts and did not timely make the deposit to residual receipts. Identification of Repeat Finding: N/A Auditor Noncompliance Code: Lack of controls to timely make residual receipts deposit Recommendation: Management should establish internal controls and procedures to ensure that required residual receipts reserve deposits are made timely. Finding Resolution Status: Resolved. As of the date of the Auditors' Report the Corporation has funded the residual receipts reserve. Views of Responsible Officials: The Corporation has funded the residual receipts reserve in the amount of $10,827.
Finding No. 2021-002; Section 202 Capital Advance, Assistance Listing 14.157 Material Weakness: See Finding 2021-002 Recommendation: The Corporation should establish internal controls and procedures to ensure that required residual receipts reserve deposits are made timely. Action Taken: As of the Auditors? Report date, the Corporation made the residual receipt deposit and will make the required residual receipts deposits, if any, timely in the future.
Mortgage/Reserves - Residual receipt remittance Department of Housing and Urban Development Finding No. 2021-002; Section 202 Capital Advance, Assistance Listing 14.157 Criteria: In accordance with HUD Notice H-2012-14 and HUD letter dated June 19, 2015 regarding Residual Receipts Authority - Section 202/811 Project Rental Assistance Contracts (PRACs), owners are allowed to an initial reserve in an amount equal to $250 per income-producing unit to use for project purposes. Amounts in excess on this initial residual receipts reserve (reserve) are to be remitted on the annual contract renewal date. Condition: During the year ended December 31, 2021, the Corporation did not remit funds to HUD. Cause: Controls are not in place to ensure that amounts in excess of the initial reserve are remitted to HUD. Effect or Potential Effect: The Project is not in compliance with HUD requirements. Questioned Cost: $66,979 Context: The Corporation did not have controls in place to timely remit excess funds in excess of the initial deposit to HUD. Identification of Repeat Finding: N/A Auditor Noncompliance Code: Lack of controls to timely remit initial excess reserve funds. Recommendation: The Corporation should establish internal controls and procedures to ensure that funds in excess of the initial reserve are timely submitted to HUD. Finding Resolution Status: Resolved. As of the Auditors' Report date the Corporation has remitted excess funds to HUD. Reporting Views of Responsible Officials: The Corporation has remitted excess funds in the amount of $66,979 to HUD.
Finding No. 2021-002; Section 202 Capital Advance, Assistance Listing 14.157 Recommendation: The Corporation should establish internal controls and procedures to ensure that funds in excess of the initial reserve are timely submitted to HUD. Action Taken: As of the Auditors? Report date, the Corporation remitted the funds to HUD.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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