EIN: 274115066
UEI: W9NPQEY9XL23
Audited by: 561688300
Oversight agency: 84 [Department of Education]
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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 May 29, 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 November 29, 2026 (92 days from today).
What is a management decision? →FAC accepted this audit on June 2, 2025 — management decision was due December 2, 2025.
FAC accepted this audit on May 23, 2024 — management decision was due November 23, 2024.
FAC accepted this audit on March 5, 2023 — management decision was due September 5, 2023.
FAC accepted this audit on January 26, 2022 — management decision was due July 26, 2022.
FAC accepted this audit on April 29, 2021 — management decision was due October 29, 2021.
The Institute?s initial financial statements had various material errors. Effect: The Institute?s financial statements were materially misstated. Cause: Errors related to the recording of receipts and disbursements.
Show full finding ▾Hide full finding ▴Criteria: Auditing standards require management have the ability to provide financial statements in accordance with the cash basis of accounting, which are free of material misstatements. Condition: The Institute?s initial financial statements had various material errors. Effect: The Institute?s financial statements were materially misstated. Cause: Errors related to the recording of receipts and disbursements.
The Institute has contracted with a competent bookkeeper who can provide accurate and timely financial statements. The Institute will begin recording transactions manually into QuickBooks, rather than automatically downloading transactions.
2019-001
The Institute had limited personnel involved in the accounting and reporting functions. Effect: There were not adequate internal controls in place to detect errors made by the bookkeeper, which resulted in the financial statements being materially misstated. The lack of adequate segregation of duties could result in misappropriation of funds. Cause: No oversight was being exercised over the bookkeeper; thus, no errors were discovered.
Show full finding ▾Hide full finding ▴Criteria: Adequate segregation of duties and oversight monitoring. Condition: The Institute had limited personnel involved in the accounting and reporting functions. Effect: There were not adequate internal controls in place to detect errors made by the bookkeeper, which resulted in the financial statements being materially misstated. The lack of adequate segregation of duties could result in misappropriation of funds. Cause: No oversight was being exercised over the bookkeeper; thus, no errors were discovered.
The Institute?s bookkeeper will provide these documents to a member of the Board of Directors. A member from the Board of Directors has retroactively reviewed each month from the fiscal year ended August 31, 2020. The member plans to continue this review going forward.
2019-002
The Institute had no dual signatures to confirm the intended recipient received their stipend or gift card. Effect: Signatures could be forged for a student by an Institute?s staff member. Cause: No dual signature signoff was being performed.
Show full finding ▾Hide full finding ▴Criteria: Stipends and Gift Card Log. Condition: The Institute had no dual signatures to confirm the intended recipient received their stipend or gift card. Effect: Signatures could be forged for a student by an Institute?s staff member. Cause: No dual signature signoff was being performed.
The Institute intends to require dual signature signoffs and periodic stipend and gift card reconciliation to the appropriate source documents.
2019-003
FAC accepted this audit on January 25, 2021 — management decision was due July 25, 2021.
The Institute?s initial financial statements had various material errors. Effect: The Institute?s financial statements were materially misstated. Cause: Errors related to the recording of receipts and disbursements.
Show full finding ▾Hide full finding ▴Criteria: Auditing standards require management have the ability to provide financial statements in accordance with the cash basis of accounting, which are free of material misstatements. Condition: The Institute?s initial financial statements had various material errors. Effect: The Institute?s financial statements were materially misstated. Cause: Errors related to the recording of receipts and disbursements.
Corrective action plan: The Institute has contracted with a competent bookkeeper who can provide accurate and timely financial statements.
2018-001
The Institute had limited personnel involved in the accounting and reporting functions. Effect: There were not adequate internal controls in place to detect errors made by the bookkeeping staff, resulting in the financial statements being materially misstated. Cause: No oversight was being exercised over the bookkeeper; thus, no errors were discovered.
Show full finding ▾Hide full finding ▴Criteria: Adequate segregation of duties and oversight monitoring. Condition: The Institute had limited personnel involved in the accounting and reporting functions. Effect: There were not adequate internal controls in place to detect errors made by the bookkeeping staff, resulting in the financial statements being materially misstated. Cause: No oversight was being exercised over the bookkeeper; thus, no errors were discovered.
Corrective action plan: The Institute has contracted with a competent bookkeeper who can provide accurate and timely financial statements. The Executive Director and a Board member will begin reviewing monthly financials, bank statements, bank reconciliations and other various financial reports.
2018-002
The Institute had no dual signatures to confirm the intended recipient received their stipend. Effect: Signatures could be forged for a student by an Institute?s staff member. Cause: No dual signature signoff was being performed. Recommendation: Two employees must sign off that a student received their stipend.
Show full finding ▾Hide full finding ▴Finding 2019-3 Criteria: Stipends Log. Condition: The Institute had no dual signatures to confirm the intended recipient received their stipend. Effect: Signatures could be forged for a student by an Institute?s staff member. Cause: No dual signature signoff was being performed. Recommendation: Two employees must sign off that a student received their stipend.
Corrective action plan: The Institute intends to require dual signature signoffs.
The data collection form has yet to be submitted. Effect: The Institute will not qualify as a low-risk auditee. Cause: The audit report was delayed due to a material misstatement for the fiscal year ended August 31, 2019. Recommendation: Recommendations have been made and appear to have been implemented.
Show full finding ▾Hide full finding ▴Finding 2019-4Criteria: Data collection form is to be submitted nine months from the fiscal year end date. Condition: The data collection form has yet to be submitted. Effect: The Institute will not qualify as a low-risk auditee. Cause: The audit report was delayed due to a material misstatement for the fiscal year ended August 31, 2019. Recommendation: Recommendations have been made and appear to have been implemented.
Corrective action plan: The August 31, 2020 audit will be scheduled in adequate time to complete the audit and submit the data collection form by the required due date.
2018-003
FAC accepted this audit on February 20, 2020 — management decision was due August 20, 2020.
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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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