EIN: 161584166
UEI: UZMWB638FS67
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 18, 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 January 18, 2026 (216 days ago).
What is a management decision? →Actual fidelity bond coverage amount in FY2024 was less than 2 months of calculated gross potential collections. Questioned costs: $0 Context: No sampling, entire population tested. Cause: The Company did not update coverage amount to keep pace with revenue growth. Effect: Result of the finding is that actual fidelity bond coverage amount fell below the required minimum. Repeat finding: No Recommendation: The auditor recommends that management increase their coverage amount to come into compliance with HUD requirements, as well as develop policies and procedures to monitor required coverage minimums. Views of responsible officials: There is no disagreement with the audit finding.
Show full finding ▾Hide full finding ▴Criteria or specific requirement: The Company must obtain a fidelity bond that is equal to or exceeds two months gross potential collections. Condition: Actual fidelity bond coverage amount in FY2024 was less than 2 months of calculated gross potential collections. Questioned costs: $0 Context: No sampling, entire population tested. Cause: The Company did not update coverage amount to keep pace with revenue growth. Effect: Result of the finding is that actual fidelity bond coverage amount fell below the required minimum. Repeat finding: No Recommendation: The auditor recommends that management increase their coverage amount to come into compliance with HUD requirements, as well as develop policies and procedures to monitor required coverage minimums. Views of responsible officials: There is no disagreement with the audit finding.
Section 232 Mortgage Insurance for Nursing Homes - Assistance Listing No. 14.157 Recommendation: The auditor recommends that management increase their coverage amount to come into compliance with HUD requirements, as well as develop policies and procedures to monitor required coverage minimums to ensure that actual coverage amount is kept at least at that level. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Fidelity Bond insurance coverage was immediately increased from $600,000 to $850,000 to be above the minimum required threshold of $812,581 when identified. The new process implemented will assess potential organizational revenue growth ahead of insurance renewal to maintain at least the minimum required coverage threshold. Name(s) of the contact person(s) responsible for corrective action: David Lockwood, Controller Planned completion date for corrective action plan: 3/31/25
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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