EIN: 161498651
UEI: TD3JYNL177U6
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on May 9, 2022. 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 9, 2022 (1385 days ago).
What is a management decision? →Condition - The reserve for replacements account is underfunded by $22,000 for the year ended December 31, 2021. Criteria ? As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Corporation is required to deposit $5,500 in a reserve for replacements account on a monthly basis. Effect - The Corporation was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Repeat Finding ? This is a repeat finding of 2020-001 as reported for the year ended December 31, 2020. Recommendation - We recommend that the delinquent deposits totaling $22,000 for the year ended December 31, 2021 be deposited into the reserve for replacements account as soon as possible. Management?s Reply ? Management understands HUD?s requirements for monthly deposits into the reserve for replacements and has deposited the delinquent deposit of $22,000 into the reserve for replacements account in February 2022.
Show full finding ▾Hide full finding ▴Condition - The reserve for replacements account is underfunded by $22,000 for the year ended December 31, 2021. Criteria ? As part of Special Tests and Provisions related to Assistance Listing Number 14.157- Supportive Housing for the Elderly, the Corporation is required to deposit $5,500 in a reserve for replacements account on a monthly basis. Effect - The Corporation was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not adequately funded during the year. Repeat Finding ? This is a repeat finding of 2020-001 as reported for the year ended December 31, 2020. Recommendation - We recommend that the delinquent deposits totaling $22,000 for the year ended December 31, 2021 be deposited into the reserve for replacements account as soon as possible. Management?s Reply ? Management understands HUD?s requirements for monthly deposits into the reserve for replacements and has deposited the delinquent deposit of $22,000 into the reserve for replacements account in February 2022.
Name of auditee: 1490 Estates Housing Development Fund Corporation Project No.: 014-EE111 TIN: 16-1028940 Name of audit firm: EFPR Group, CPA, PLLC Period covered by audit: December 31, 2021 CAP prepared by: Robert Miller, Jr. President Belmont Management Co., Inc. (716) 854-1251 Finding 2021-001 Management understands HUD?s requirements for monthly deposits into the reserve for replacements and has deposited the delinquent deposit of $22,000 into the reserve for replacements account in February 2022.
2020-001
FAC accepted this audit on March 31, 2021 — management decision was due October 1, 2021.
Condition - The reserve for replacements account is underfunded by $16,500 for the year ended December 31, 2020. Criteria - HUD requires that the reserve for replacements account to be funded $5,500 monthly. Effect - The Corporation was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not funded for three months during the year. Recommendation - We recommend that the delinquent deposits totaling $16,500 for the year ended December 31, 2020 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - Management informed us that the amount was deposited during January 2021.
Show full finding ▾Hide full finding ▴Condition - The reserve for replacements account is underfunded by $16,500 for the year ended December 31, 2020. Criteria - HUD requires that the reserve for replacements account to be funded $5,500 monthly. Effect - The Corporation was not in compliance with the above HUD regulations. Cause - The reserve for replacements account was not funded for three months during the year. Recommendation - We recommend that the delinquent deposits totaling $16,500 for the year ended December 31, 2020 be deposited into the reserve for replacements account as soon as possible. Management?s Reply - Management informed us that the amount was deposited during January 2021.
Name of auditee: 1490 Estates Housing Development Fund Corporation Project No.: 014-EE111 TIN: 16-1028940 Name of audit firm: EFPR Group, CPA, PLLC Period covered by audit: December 31, 2020 CAP prepared by: Robert Miller, Jr. President Belmont Management Co., Inc. (716) 854-1251 Finding 2020-001 Management understands HUD?s requirements for monthly deposits into the reserve for replacements and has deposited the delinquent deposit of $16,500 into the reserve for replacements account in January 2021.
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