MRC HOUSING DEVELOPMENT FUND COMPANY INC (MARJORIE RICHARDSON COURT)

EIN: 113289580

UEI: EZ9UBST28MB5

Data as of August 23, 2026

MRC HOUSING DEVELOPMENT FUND COMPANY INC (MARJORIE RICHARDSON COURT)9 audit years1 findings
9
Audit Years
1
Total Findings
0
Repeat Findings

FY 2024-12-31

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on May 12, 2025. 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 12, 2025 (285 days ago).

What is a management decision? →
2024-001
Cost Allowability
QUESTIONED COSTS

S3800-010 Finding Reference Number 2024-001 S3800-011 Title and Federal Assistance Listing Number of Federal Program 14.157 – Supportive Housing for the Elderly S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status S3800-017 Information on Universal Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Finding Reference Number N/A S3800-020 Criteria Pursuant to the requirements of the regulatory agreement, the Corporation is required to comply with all HUD regulations and other requirements. The regulatory agreement establishes the requirement to deposit surplus cash to the residual receipts fund. S3800-030 Statement of Condition During the year ended December 31, 2024 residual receipts deposits totaling $37,303 were not made as required by the regulatory agreement. S3800-032 Cause Management did not make the required residual receipts deposit as calculated in the December 31, 2023 audited financial statements. S3800-033 Effect or Potential Effect The Corporation is not in compliance with the terms of the regulatory agreement. S3800-035 Auditor Non-Compliance Code B S3800-040 Questioned Costs $37,303 S3800-045 Reporting Views of Responsible Officials The finding was due to excess tax escrow funds being transferred to the operating account. S3800-050 Context Residual receipts are required to be deposited within 90 days following yearend. The Corporation did not have sufficient funds during the year ended December 31, 2024. S3800-080 Recommendation Management should comply with all HUD regulations and other requirements. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Management will comply with all HUD regulations and other requirements. S3800-130 Response Indicator Agree S3800-140 Completion Date 12/31/2025 S3800-150 Response Agree

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Full finding narrative

S3800-010 Finding Reference Number 2024-001 S3800-011 Title and Federal Assistance Listing Number of Federal Program 14.157 – Supportive Housing for the Elderly S3800-015 Type of Finding Federal Award Finding S3800-016 Finding Resolution Status S3800-017 Information on Universal Population Size N/A S3800-018 Sample Size Information N/A S3800-019 Identification of Repeat Finding and Finding Reference Number N/A S3800-020 Criteria Pursuant to the requirements of the regulatory agreement, the Corporation is required to comply with all HUD regulations and other requirements. The regulatory agreement establishes the requirement to deposit surplus cash to the residual receipts fund. S3800-030 Statement of Condition During the year ended December 31, 2024 residual receipts deposits totaling $37,303 were not made as required by the regulatory agreement. S3800-032 Cause Management did not make the required residual receipts deposit as calculated in the December 31, 2023 audited financial statements. S3800-033 Effect or Potential Effect The Corporation is not in compliance with the terms of the regulatory agreement. S3800-035 Auditor Non-Compliance Code B S3800-040 Questioned Costs $37,303 S3800-045 Reporting Views of Responsible Officials The finding was due to excess tax escrow funds being transferred to the operating account. S3800-050 Context Residual receipts are required to be deposited within 90 days following yearend. The Corporation did not have sufficient funds during the year ended December 31, 2024. S3800-080 Recommendation Management should comply with all HUD regulations and other requirements. S3800-090 Auditor’s Summary of the Auditee’s Comments on the Findings and Recommendations Management will comply with all HUD regulations and other requirements. S3800-130 Response Indicator Agree S3800-140 Completion Date 12/31/2025 S3800-150 Response Agree

Corrective Action Plan

The finding was due to excess tax escrow funds being transferred to the operating account. A residual receipts account has been opened

About Allowable Costs / Cost Principles →

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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