EIN: 236398764
UEI: C3HRLZLEKVX4
Audit also covers 4 related EINs: 222536011, 232758281, 232877541, 232973366 · unlinked EINs have no separate FAC filing
Audited by: EisnerAmper LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 25, 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 August 25, 2026 (4 days ago).
What is a management decision? →FAC accepted this audit on February 27, 2025 — management decision was due August 27, 2025.
FAC accepted this audit on February 22, 2024 — management decision was due August 22, 2024.
FAC accepted this audit on February 26, 2023 — management decision was due August 26, 2023.
FAC accepted this audit on December 21, 2021 — management decision was due June 21, 2022.
FAC accepted this audit on February 28, 2021 — management decision was due August 28, 2021.
Significant Deficiency: As discussed at Finding 2020-002 (SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS), during our testing of accounts receivable and revenue, we noticed that the Project is not recording move-ins and move-outs or changes in subsidy correctly in their accounting system. This is evidenced by rents continuing to be charged to past tenants for tenant and subsidy portions of rents. This is also evidenced by when tenants stopped receiving subsidy and were changed to tenant rent, no charges were created and receivables and revenues were both understated.
Show full finding ▾Hide full finding ▴Significant Deficiency: As discussed at Finding 2020-002 (SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS), during our testing of accounts receivable and revenue, we noticed that the Project is not recording move-ins and move-outs or changes in subsidy correctly in their accounting system. This is evidenced by rents continuing to be charged to past tenants for tenant and subsidy portions of rents. This is also evidenced by when tenants stopped receiving subsidy and were changed to tenant rent, no charges were created and receivables and revenues were both understated.
Recommendation: Management properly record move-ins and move-outs and account for change in subsidy in order to ensure that rents are correctly recorded for tenants and that past tenants are not continued to be charged rent. Action Taken: Management will begin to correctly record move-ins and move-outs and account for change in subsidy in order to ensure that rents are correctly recorded for tenants and that past tenants are not continued to be charged rent.
2019-004
The Entity is in arrears on the principal mortgage payments and monthly escrow payments. Criteria: The Entity is required to make monthly mortgage payments to PHFA and monthly escrow deposits for real estate taxes, insurance, and reserve for replacement. Cause: Cash flow difficulties have affected the Entity?s ability to timely fund required escrows and to make the monthly mortgage payments. Effect: The Entity has not made certain required mortgage and escrow payments timely and is not in compliance with PHFA. Context: The Entities are in arrears on the following payments: Sarah Allen Homes Partners - Delinquent escrow payments of $87,425; Sarah Allen Community Homes IV LP - Delinquent mortgage and escrow payments of $186,681; Friends Development Company - Delinquent escrow payments of $52,083. Recommendation: We recommend that management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement and will try to make additional payments in 2021 to become current on the escrow and mortgage balances. In addition, effective July 2020, PHFA has waived six months of reserve for replacement contributions to allow the Company to become current with the required escrow deposits.
Show full finding ▾Hide full finding ▴Condition: The Entity is in arrears on the principal mortgage payments and monthly escrow payments. Criteria: The Entity is required to make monthly mortgage payments to PHFA and monthly escrow deposits for real estate taxes, insurance, and reserve for replacement. Cause: Cash flow difficulties have affected the Entity?s ability to timely fund required escrows and to make the monthly mortgage payments. Effect: The Entity has not made certain required mortgage and escrow payments timely and is not in compliance with PHFA. Context: The Entities are in arrears on the following payments: Sarah Allen Homes Partners - Delinquent escrow payments of $87,425; Sarah Allen Community Homes IV LP - Delinquent mortgage and escrow payments of $186,681; Friends Development Company - Delinquent escrow payments of $52,083. Recommendation: We recommend that management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement and will try to make additional payments in 2021 to become current on the escrow and mortgage balances. In addition, effective July 2020, PHFA has waived six months of reserve for replacement contributions to allow the Company to become current with the required escrow deposits.
Recommendation: Management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Action Taken: Management is in agreement and will try to make additional payments in 2021 to become current on the escrow and mortgage balances.
2019-005
The Property owner entered into a new management agreement, effective November 1, 2016, without the approval by PHFA. In addition, under the new agreement, the new management company is to receive a monthly fee of approximately 24% of gross income. Pursuant to PHFA regulations, as of May 31, 2020, Corporation is owed $38,842 - 2020, $31,618 - 2019, $24,367 - 2018, and $11,318 - 2017 for management fees paid in excess of PHFA's maximum fee. Criteria: According to the PHFA Reporting Manual, no change in management agent may take place without the prior written approval of PHFA. In addition, the management fee percentage should not exceed 10% of gross income and cannot change without prior approval from PHFA. Lastly, per PHFA notice, all management fees paid in excess are to be returned to the Corporation. Cause: Management oversight Effect: The Project is not in compliance with PHFA Regulations. Context: See condition above. Recommendation: We recommend that Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement.
Show full finding ▾Hide full finding ▴Condition: The Property owner entered into a new management agreement, effective November 1, 2016, without the approval by PHFA. In addition, under the new agreement, the new management company is to receive a monthly fee of approximately 24% of gross income. Pursuant to PHFA regulations, as of May 31, 2020, Corporation is owed $38,842 - 2020, $31,618 - 2019, $24,367 - 2018, and $11,318 - 2017 for management fees paid in excess of PHFA's maximum fee. Criteria: According to the PHFA Reporting Manual, no change in management agent may take place without the prior written approval of PHFA. In addition, the management fee percentage should not exceed 10% of gross income and cannot change without prior approval from PHFA. Lastly, per PHFA notice, all management fees paid in excess are to be returned to the Corporation. Cause: Management oversight Effect: The Project is not in compliance with PHFA Regulations. Context: See condition above. Recommendation: We recommend that Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement.
Recommendation: Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Action Taken: Management is in agreement.
2019-006
FAC accepted this audit on January 8, 2020 — management decision was due July 8, 2020.
Significant Deficiency: As discussed at Finding 2019-002 (SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS), during our testing of accounts receivable and revenue, we noticed that the Project is not recording move-ins and move-outs or changes in subsidy correctly in their accounting system. In addition, during our tenant file testing and cash receipts testing, we noted one tenant was charged a different rent amount from their lease and rent roll. This is evidenced by rents continuing to be charged to past tenants for tenant and subsidy portions of rents. This is also evidenced by when tenants stopped receiving subsidy and were changed to tenant rent, no charges were created, and receivables and revenues were both understated.
Show full finding ▾Hide full finding ▴Significant Deficiency: As discussed at Finding 2019-002 (SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS), during our testing of accounts receivable and revenue, we noticed that the Project is not recording move-ins and move-outs or changes in subsidy correctly in their accounting system. In addition, during our tenant file testing and cash receipts testing, we noted one tenant was charged a different rent amount from their lease and rent roll. This is evidenced by rents continuing to be charged to past tenants for tenant and subsidy portions of rents. This is also evidenced by when tenants stopped receiving subsidy and were changed to tenant rent, no charges were created, and receivables and revenues were both understated.
Recommendation: Management properly record move-ins and move-outs in order to ensure that rents are correctly recorded for tenants and that past tenants are not continued to be charged rent. Action Taken: Management will begin to correctly record move-ins and move-outs and account for change in subsidy in order to ensure that rents are correctly recorded for tenants and that past tenants are not continued to be charged rent.
2018-007
The Entity is in arrears on the principal mortgage payments and monthly escrow payments. Criteria: The Entity is required to make monthly mortgage payments to PHFA and monthly escrow deposits for real estate taxes, insurance, and reserve for replacement. Cause: Cash flow difficulties have affected the Entity?s ability to timely fund required escrows and to make the monthly mortgage payments. Effect: The Entity has not made certain required mortgage and escrow payments timely and is not in compliance with PHFA. Context: The Entities are in arrears on the following payments: Sarah Allen Homes Partners - Delinquent escrow payments of $32,382; Sarah Allen Community Homes IV LP - Delinquent mortgage and escrow payments of $67,724; Friends Development Company - Delinquent escrow payments of $16,213.Recommendation: We recommend that management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement and will try to make additional payments in 2020 to become current on the escrow and mortgage balances.
Show full finding ▾Hide full finding ▴Condition: The Entity is in arrears on the principal mortgage payments and monthly escrow payments. Criteria: The Entity is required to make monthly mortgage payments to PHFA and monthly escrow deposits for real estate taxes, insurance, and reserve for replacement. Cause: Cash flow difficulties have affected the Entity?s ability to timely fund required escrows and to make the monthly mortgage payments. Effect: The Entity has not made certain required mortgage and escrow payments timely and is not in compliance with PHFA. Context: The Entities are in arrears on the following payments: Sarah Allen Homes Partners - Delinquent escrow payments of $32,382; Sarah Allen Community Homes IV LP - Delinquent mortgage and escrow payments of $67,724; Friends Development Company - Delinquent escrow payments of $16,213.Recommendation: We recommend that management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement and will try to make additional payments in 2020 to become current on the escrow and mortgage balances.
Recommendation: Management should analyze cash flow activity and determine the adjustments necessary to provide for the timely funding of the escrow and mortgage accounts. Monthly payments should be made until the required escrow and mortgage account balances are funded. Action Taken: Management is in agreement and will try to make additional payments in 2020 to become current on the escrow and mortgage balances.
2018-008
The Property owner entered into a new management agreement, effective November 1, 2016, without the approval by PHFA. In addition, under the new agreement, the new management company is to receive a monthly fee of approximately 17% of gross income. Pursuant to PHFA regulations, as of May 31, 2019, Corporation is owed $38,406 - 2019, $32,008 - 2018, and $11,318 - 2017 for management fees paid in excess of PHFA's maximum fee. Criteria: According to the PHFA Reporting Manual, no change in management agent may take place without the prior written approval of PHFA. In addition, the management fee percentage should not exceed 10% of gross income and cannot change without prior approval from PHFA. Lastly, per PHFA notice, all management fees paid in excess are to be returned to the Corporation. Cause: Management oversight Effect: The Project is not in compliance with PHFA Regulations. Context: See condition above. Recommendation: We recommend that Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement.
Show full finding ▾Hide full finding ▴Condition: The Property owner entered into a new management agreement, effective November 1, 2016, without the approval by PHFA. In addition, under the new agreement, the new management company is to receive a monthly fee of approximately 17% of gross income. Pursuant to PHFA regulations, as of May 31, 2019, Corporation is owed $38,406 - 2019, $32,008 - 2018, and $11,318 - 2017 for management fees paid in excess of PHFA's maximum fee. Criteria: According to the PHFA Reporting Manual, no change in management agent may take place without the prior written approval of PHFA. In addition, the management fee percentage should not exceed 10% of gross income and cannot change without prior approval from PHFA. Lastly, per PHFA notice, all management fees paid in excess are to be returned to the Corporation. Cause: Management oversight Effect: The Project is not in compliance with PHFA Regulations. Context: See condition above. Recommendation: We recommend that Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Views of Responsible Officials and Planned Corrective Actions: Management is in agreement.
Recommendation: Property owner should obtain proper written approval from PHFA for the change in management agent and management fee. In addition, all management fees paid in excess need to be re-deposited to the Corporation's operating account. Action Taken: Management is in agreement.
2018-009
FAC accepted this audit on November 19, 2018 — management decision was due May 19, 2019.
GSA_MIGRATION
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2017-007
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2017-008
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2017-011
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2017-013
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2017-014
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2017-015
FAC accepted this audit on December 19, 2017 — management decision was due June 19, 2018.
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2016-006, 2016-007, 2016-008
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2016-009
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2016-011
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2016-012
FAC accepted this audit on January 4, 2017 — management decision was due July 4, 2017.
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2015-002
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2015-003
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2015-004
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2015-005
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Show full finding ▾Hide full finding ▴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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