Lantern Organization, Inc.Non-Profit

Finding 2024-001 - Significant Deficiency - Lease Agreements. Criteria: The Fair Housing Act ("FHA") requires that leases between landlords and tenants must comply with comply with applicable federal, state, and local laws, including fair housing laws. In performing our audit procedures, we noted that in some instances the rent charged per the rent roll did not agree to the approved rent per the subsidy agency. In most instances, these differences were not material and were due to timing of approvals. Condition: In some instances, The Organization's recorded rent payments do not correspond with the information per the rent rolls and tenant vouchers. Cause: The Organization's leases are not in compliance with FHA requirements. Repeat Finding: Yes. Effect: Failure to maintain accurate records could result in a loss in funding. Recommendation: Ensure that the Organization's tenant compliance policies are strictly adhered to, complying with FHA Guidance and that proper procurement documentation maintained. View of Responsible Officials and Planned Corrective Action: Management agrees with the finding. However, any differences discovered were due to timing of approvals from the New York State Department of Housing Preservation and Development. Management believes rental income is fairly stated at December 31, 2024.

Finding 2023-001 - Significant Deficiency - Lease Agreements. Criteria: The Fair Housing Act ("FHA") requires that leases between landlords and tenants must comply with comply with applicable federal, state, and local laws, including fair housing laws. In performing our audit procedures, we noted that in some instances the rent charged per the rent roll did not agree to the approved rent per the subsidy agency. In most instances, these differences were not material and were due to timing of approvals. Condition: In some instances, The Organization's recorded rent payments do not correspond with the information per the rent rolls and tenant vouchers. Cause: The Organization's leases are not in compliance with FHA requirements. Repeat Finding: Yes. Effect: Failure to maintain accurate records could result in a loss in funding. Recommendation: Ensure that the Organization's tenant compliance policies are strictly adhered to, complying with FHA Guidance and that proper procurement documentation maintained. View of Responsible Officials and Planned Corrective Action: Management agrees with the finding. However, any differences discovered were due to timing of approvals from the New York State Department of Housing Preservation and Development. Management believes rental income is fairly stated at December 31, 2023.

Finding 2022-001 - Significant Deficiency - Lease Agreements. Criteria: The Fair Housing Act ("FHA") requires that leases between landlords and tenants must comply with applicable federal, state, and local laws, including fair housing laws. In performing our audit procedures, we noted that in some instances the rent charged per the rent roll did not agree to the approved rent per the subsidy agency. In most instances, these differences were not material and were due to timing of approvals. Condition: In some instances, The Organization's recorded rent payments do not correspond with the information per the rent rolls and tenant vouchers. Cause: The Organization's leases are not in compliance with FHA requirements. Effect: Failure to maintain accurate records could result in a loss in funding. Recommendation: Ensure that the Organization's tenant compliance policies are strictly adhered to, complying with FHA Guidance and that proper procurement documentation maintained. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. However, any differences discovered were due to timing of approvals from the New York State Department of Housing Preservation and Development. Management believes rental income is fairly stated at December 31, 2022. Responsible Officials: Mr Daniel Kent - President.