EIN: 133124888
UEI: HAYQHLNZXD38
Audited by: Vargas & Rivera LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 4, 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 September 4, 2026 (1 day from today).
What is a management decision? →The Data Collection Form was not submitted to the Federal Audit Clearinghouse within the nine-month period for the year ended September 30, 2023. Cause: Due to delays of audit documentation from management, the audit was not able to be completed within the required time frame. Effect: The Project is not in compliance with the requirement to complete the filing required by the Uniform Guidance within nine months of its year end. Repeat Finding: 2022-001 Recommendation: The Data Collection form should be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
Show full finding ▾Hide full finding ▴Mortgage Insurance for the Purchaser or Refinancing of Existing Multifamily Housing Projects, CFDA 14.155 and Section 8 Housing Assistance Program Payments, CFDA 14.195 Criteria: Reporting: The Data Collection Form is required to be submitted to the Federal Audit Clearinghouse within none months of year end. Condition: The Data Collection Form was not submitted to the Federal Audit Clearinghouse within the nine-month period for the year ended September 30, 2023. Cause: Due to delays of audit documentation from management, the audit was not able to be completed within the required time frame. Effect: The Project is not in compliance with the requirement to complete the filing required by the Uniform Guidance within nine months of its year end. Repeat Finding: 2022-001 Recommendation: The Data Collection form should be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
Planned Corrective Action: The Board of Directors acknowledges the reporting deadline was not met. We have implemented significant changes in internal controls over compliance to ensure the audit is completed and submitted by the required deadlines.
2022-001
The financial information was not submitted to HUD within the nine months following the end of fiscal year. Cause: Due to delays of audit documentation from management, the audit was not able to be completed within the required time frame Effect: The Project is not in compliance with the requirement to complete the filing required within the nine months after fiscal year end. Repeat Finding: 2022-002 Recommendation: We recommend the electronic submission to REAC be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
Show full finding ▾Hide full finding ▴Mortgage Insurance for the Purchaser or Refinancing of Existing Multifamily Housing Projects, CFDA 14.155 and Section 8 Housing Assistance Program Payments, CFDA 14.195 Criteria: Reporting: Within nine months following the end of each fiscal year the project owners must submit to HUD financial information derived from the audited financial statements electronically to HUD via the Real Estate Assessment Center (REAC). Condition: The financial information was not submitted to HUD within the nine months following the end of fiscal year. Cause: Due to delays of audit documentation from management, the audit was not able to be completed within the required time frame Effect: The Project is not in compliance with the requirement to complete the filing required within the nine months after fiscal year end. Repeat Finding: 2022-002 Recommendation: We recommend the electronic submission to REAC be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
Planned Corrective Action: The Board of Directors acknowledges the reporting deadline was not met. We have implemented significant changes in internal controls over compliance to ensure the audit is completed and submitted by the required deadlines.
2022-002
FAC accepted this audit on June 17, 2025 — management decision was due December 17, 2025.
The Data Collection Form was not submitted to the Federal Audit Clearinghouse within the nine-month period for the year ended September 30, 2022. Effect: The Project is not in compliance with 2 CFR 200.512(a)(2). Context: The Data Collection Form was not filed timely. Cause: The annual audit was not completed within the applicable time frame so it was not available to be submitted by the due date. Recommendation: The Data Collection form should be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
Show full finding ▾Hide full finding ▴Criteria - Reporting: Compliance Requirement – The Data Collection Form is required to be submitted to the Federal Audit Clearinghouse within nine months of year end (2 CFR 200.512(a)(2). Condition: The Data Collection Form was not submitted to the Federal Audit Clearinghouse within the nine-month period for the year ended September 30, 2022. Effect: The Project is not in compliance with 2 CFR 200.512(a)(2). Context: The Data Collection Form was not filed timely. Cause: The annual audit was not completed within the applicable time frame so it was not available to be submitted by the due date. Recommendation: The Data Collection form should be filed as soon as possible. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the finding and will file the report.
January 29, 2025 Management's Planned Corrective Action Plan For the Year Ended September 30, 2022 Names of contact person(s) responsible for corrective action: Derrick Taitt, President. Planned Corrective Action: The Board of Directors acknowledges the reporting deadline was not met. The Board was in the process of engaging a new audit firm. We have implemented significant changes in internal controls over compliance to ensure the audit is completed and submitted by the required deadlines.
The financial information was not submitted to HUD within the 90 days following the end of fiscal year. Effect: The Project is not in compliance with the reporting requirements. Context: The financial information was not filed timely. Cause: The annual audit was not completed within the applicable time frames so it was not available to be submitted the due date. Repeat Finding: N/A Recommendation: The financial information should be filed as soon as possible. Auditor Non-Compliance Code: Reporting Views of Responsible Officials: Management agrees with the finding and will file the report.
Show full finding ▾Hide full finding ▴Criteria: The Projects regulatory agreement with HUD and the HUD Uniform Financial Reporting Standards require financial statements to be submitted to HUD within 90 days fiscal year end. Condition: The financial information was not submitted to HUD within the 90 days following the end of fiscal year. Effect: The Project is not in compliance with the reporting requirements. Context: The financial information was not filed timely. Cause: The annual audit was not completed within the applicable time frames so it was not available to be submitted the due date. Repeat Finding: N/A Recommendation: The financial information should be filed as soon as possible. Auditor Non-Compliance Code: Reporting Views of Responsible Officials: Management agrees with the finding and will file the report.
January 29, 2025 Management's Planned Corrective Action Plan For the Year Ended September 30, 2022 Names of contact person(s) responsible for corrective action: Derrick Taitt, President. Planned Corrective Action: The Board of Directors acknowledges the reporting deadline was not met. The Board was in the process of engaging a new audit firm. We have implemented significant changes in internal controls over compliance to ensure the audit is completed and submitted by the required deadlines.
FAC accepted this audit on July 24, 2022 — management decision was due January 24, 2023.
FAC accepted this audit on June 27, 2021 — management decision was due December 27, 2021.
FAC accepted this audit on November 29, 2020 — management decision was due May 29, 2021.
FAC accepted this audit on June 27, 2019 — management decision was due December 27, 2019.
FAC accepted this audit on March 29, 2018 — management decision was due September 29, 2018.
FAC accepted this audit on May 22, 2017 — management decision was due November 22, 2017.
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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