EIN: 060842738
UEI: Q2LLAKUMFNL3
Audited by: AAFCPAs, Inc.
Oversight agency: 21 [Department of the Treasury]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 6, 2026. 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 January 6, 2027 (127 days from today).
What is a management decision? →FAC accepted this audit on July 10, 2025 — management decision was due January 10, 2026.
FAC accepted this audit on July 23, 2024 — management decision was due January 23, 2025.
FAC accepted this audit on October 23, 2023 — management decision was due April 23, 2024.
FAC accepted this audit on October 19, 2022 — management decision was due April 19, 2023.
FAC accepted this audit on June 29, 2021 — management decision was due December 29, 2021.
FAC accepted this audit on August 9, 2020 — management decision was due February 9, 2021.
III. Findings and Questioned Costs - Major Federal Award Programs Audit: Department of Housing and Urban Development Finding No. 2020-001; Title II Nonsupervised Mortgages, CFDA 14.XXX Statement of Condition C4C did not properly report delinquent loans on a monthly basis. Criteria Lenders must report a delinquent loan when one full installment is due and unpaid as of the last day of the month and continue reporting the loan?s status until there is a resolution to the delinquency. The delinquencies are required to be reported to HUD via the FHA Connection, the reported delinquencies are then processed in HUD?s Single Family Default Monitoring System (SFDMS/F42). Questioned Costs None Effect The Organization was not in compliance with the delinquency reporting requirements during the year. Context During the year ended March 31, 2020 the Organization staff preparing the report was not properly registered in the system and as a result, the data was not validated and transmitted. The internal controls over the reporting process were not adequate to identify this error in the normal course of business. The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. The financial impact is not material to the financial statements as a whole. Cause The internal controls over the reporting process were not adequate to identify this error in the normal course of business. The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. After reviewing the process in place, management identified the registration issue for the new staff and corrected the processing error but also instituted an added review procedure to confirm monthly validation by a senior staff. Recommendation No additional recommendation at this time as management has added a review procedure that would detect a reporting error in a timely manner. Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions Management identified the registration issue for the new staff and corrected the processing error but also instituted an added review procedure to confirm monthly validation by a senior staff. The report was properly filed in June 2020 for May 2020 delinquencies.
Show full finding ▾Hide full finding ▴III. Findings and Questioned Costs - Major Federal Award Programs Audit: Department of Housing and Urban Development Finding No. 2020-001; Title II Nonsupervised Mortgages, CFDA 14.XXX Statement of Condition C4C did not properly report delinquent loans on a monthly basis. Criteria Lenders must report a delinquent loan when one full installment is due and unpaid as of the last day of the month and continue reporting the loan?s status until there is a resolution to the delinquency. The delinquencies are required to be reported to HUD via the FHA Connection, the reported delinquencies are then processed in HUD?s Single Family Default Monitoring System (SFDMS/F42). Questioned Costs None Effect The Organization was not in compliance with the delinquency reporting requirements during the year. Context During the year ended March 31, 2020 the Organization staff preparing the report was not properly registered in the system and as a result, the data was not validated and transmitted. The internal controls over the reporting process were not adequate to identify this error in the normal course of business. The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. The financial impact is not material to the financial statements as a whole. Cause The internal controls over the reporting process were not adequate to identify this error in the normal course of business. The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. After reviewing the process in place, management identified the registration issue for the new staff and corrected the processing error but also instituted an added review procedure to confirm monthly validation by a senior staff. Recommendation No additional recommendation at this time as management has added a review procedure that would detect a reporting error in a timely manner. Finding Resolution Status: Resolved Views of Responsible Officials and Planned Corrective Actions Management identified the registration issue for the new staff and corrected the processing error but also instituted an added review procedure to confirm monthly validation by a senior staff. The report was properly filed in June 2020 for May 2020 delinquencies.
Capital for Change, Inc. respectfully submits the following corrective action plan for the year ended March 31, 2020 . Name and address of independent public accounting firm: CohnReznick, LLP 350 Church Street Hartford, CT 06103 Audit period: March 31, 2020 The findings from the March 31, 2020 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule . Section A of the schedule, Summary of Audit Results, does not include findings and is not addressed. FINDINGS-FINANCIAL STATEMENT AUDIT Finding No. 2020-001; Title II Nonsupervised Mortgages, CFDA 14.XXX Recommendation: No additional recommendation at this time as management has added a review procedure that would detect a reporting error in a timely manner . Action Taken: The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. Upon a more extensive review of the process, the Organization found that the staff preparing the report was not properly registered in the system and as a result, the data was not validated and transmitted. The Organization provided additional training to the personal responsible for submitting the report, including identification of a successful submission of the report. Review procedures were updated to require a review of this verification. FINDINGS-FEDERAL AWARD PROGRAMS AUDITS DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Finding No. 2020-001; Title II Nonsupervised Mortgages, CFDA 14.XXX Recommendation: No additional recommendation at this time as management has added a review procedure that would detect a reporting error in a timely manner. Action Taken: The error was detected when management attempted to retrieve a delinquency history from the system and discovered the data was not saved. Upon a more extensive review of the process, the Organization found that the staff preparing the report was not properly registered in the system and as a result, the data was not validated and transmitted. The Organization provided additional training to the person13I responsible for submitting the report, including identification of a successful submission of the report. Review procedures were updated to require a review of this verification. If HUD has questions regarding this plan, please call Gary Clark at 860-233-5165 x2022 or email him at gclark@capitalforchange .org.
FAC accepted this audit on August 27, 2018 — management decision was due February 27, 2019.
FAC accepted this audit on October 1, 2017 — management decision was due April 1, 2018.
GSA_MIGRATION
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GSA_MIGRATION
2015-001
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