EIN: 341232967
UEI: S19YUN38FJ55
Audited by: CARTER & COMPANY CPA LLC
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 7, 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 July 7, 2026 (58 days ago).
What is a management decision? →FAC accepted this audit on October 31, 2023 — management decision was due May 1, 2024.
FAC accepted this audit on December 26, 2022 — management decision was due June 26, 2023.
FAC accepted this audit on July 11, 2021 — management decision was due January 11, 2022.
Finding reference number: #2021-001 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution: Resolved Universe population size: 12 Sample size information: 12 Statistically valid sample: Yes Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $41 Statement of condition #2020-001 (CFDA No. 14.155): The Corporation did not make the required monthly reserve for replacements deposit in June 2020. Criteria: Pursuant to the Regulatory Agreement, The Mortgagor will deposit a monthly deposit, approved by HUD, into the reserve for replacements account. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. As of March 31, 2021, the reserve for replacements account is underfunded by $41. Cause: The Lender did not update their records for the new deposit amount, requiring an increase in January 2020, until July 2020. Management corrected underfunded deposits for the period January 2020 through May 2020, under the assumption the Lenders records were updated and the correct deposit would be made. Recommendation: The management agent should transfer funds of $41 from the operating account to the reserve for replacements account. Completion date: May 6, 2021 Management's response: Management concurs with the finding and recommendation. On May 6, 2021, the finding was cleared as $41 was transferred by management to the reserve for replacements account.
Show full finding ▾Hide full finding ▴Finding reference number: #2021-001 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution: Resolved Universe population size: 12 Sample size information: 12 Statistically valid sample: Yes Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $41 Statement of condition #2020-001 (CFDA No. 14.155): The Corporation did not make the required monthly reserve for replacements deposit in June 2020. Criteria: Pursuant to the Regulatory Agreement, The Mortgagor will deposit a monthly deposit, approved by HUD, into the reserve for replacements account. Effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. As of March 31, 2021, the reserve for replacements account is underfunded by $41. Cause: The Lender did not update their records for the new deposit amount, requiring an increase in January 2020, until July 2020. Management corrected underfunded deposits for the period January 2020 through May 2020, under the assumption the Lenders records were updated and the correct deposit would be made. Recommendation: The management agent should transfer funds of $41 from the operating account to the reserve for replacements account. Completion date: May 6, 2021 Management's response: Management concurs with the finding and recommendation. On May 6, 2021, the finding was cleared as $41 was transferred by management to the reserve for replacements account.
Name of auditee: Hope Manor, Inc. HUD auditee identification number: 042-11226 Name of audit firm: Dauby O'Connor & Zaleski, LLC Period covered by the audit: Year ended March 31, 2021 CAP prepared by Name: Kathleen Crowley Position: Vice President Telephone number: 419-242-2300 Current Findings on the Schedule of Findings, Questioned Costs, and Recommendations Comments on the Finding and Each Recommendation: The Corporation did not make the required monthly reserve for replacements deposit in June 2020. The management agent should transfer funds of $41 from the operating account to the reserve for replacements account. Action(s) taken or planned on the finding Management concurs with the finding and recommendation. On May 6, 2021, the finding was cleared as $41 was transferred by management to the reserve for replacements account.
2020-002
FAC accepted this audit on July 13, 2020 — management decision was due January 13, 2021.
Finding reference number: #2020-001 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) and Section 8 Housing Assistance Payments Contract CFDA No. 14.195 Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: Not applicable Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Was the sampling statistically valid: N/A Statement of condition #2020-001 (CFDA No. 14.155): For the year ended March 31, 2019, the Corporation did not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days after receipt of the auditor's report on July 1, 2019. The audited financial statements were submitted to the Federal Audit Clearinghouse on September 3, 2019. Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Effect or potential effect: The Corporation is not in compliance with the federal reporting requirements. Cause: Management oversight. Recommendation: The Corporation should submit audited financial statements to the Federal Audit Clearinghouse within the time frames required. Completion date: September 3, 2019 Reporting response: Management concurs with the finding and agrees with the auditor's recommendation. The audited financial statements have been submitted to the Federal Audit Clearinghouse. No further action required.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-001 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) and Section 8 Housing Assistance Payments Contract CFDA No. 14.195 Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: Not applicable Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Was the sampling statistically valid: N/A Statement of condition #2020-001 (CFDA No. 14.155): For the year ended March 31, 2019, the Corporation did not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days after receipt of the auditor's report on July 1, 2019. The audited financial statements were submitted to the Federal Audit Clearinghouse on September 3, 2019. Criteria: Pursuant to 2 CFR 200.512(a), the Corporation is required to electronically submit audited financial statements to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Effect or potential effect: The Corporation is not in compliance with the federal reporting requirements. Cause: Management oversight. Recommendation: The Corporation should submit audited financial statements to the Federal Audit Clearinghouse within the time frames required. Completion date: September 3, 2019 Reporting response: Management concurs with the finding and agrees with the auditor's recommendation. The audited financial statements have been submitted to the Federal Audit Clearinghouse. No further action required.
Finding 2020-001: For the year ended March 31, 2019, the Corporation did not submit audited financial statements to the Federal Audit Clearinghouse within 30 calendar days after receipt of the auditor's report on July 1, 2019. The audited financial statements were submitted to the Federal Audit Clearinghouse on September 3, 2019. The Corporation should submit audited financial statements to the Federal Audit Clearinghouse within the time frames required. Action(s) taken or planned on the finding Management concurs with the finding and agrees with the auditor's recommendation. The audited financial statements have been submitted to the Federal Audit Clearinghouse. No further action required.
Finding reference number: #2020-002 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: 12 Sample size information: 12 Statistically valid sample: Three deposits did not include the required deposit increase Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $123 Was the sampling statistically valid: Yes Statement of condition #2020-002 (CFDA No. 14.155): Effective January 1, 2020, monthly deposits into the reserve for replacements account increased from $1,859 to $1,900; however the Corporation did not make the required deposits from January to March. As of March 31, 2020, the reserve for replacement account was underfunded by $123. Criteria: The Regulatory Agreement requires monthly deposits into a separate reserve for replacements account. Effective January 1, 2020, the monthly required deposit increased from $1,859 to $1,900. Effect or potential effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: The Lender did not update their records for the new deposit amount and the prior reserve for replacement monthly deposit amount was made. Recommendation: Management should transfer $123 from the operating account to the reserve for replacements account. In addition, Management should ensure that the lender updates the monthly reserve for replacements deposit amount when deposits are changed in the future. Completion date: May 15, 2020 Reporting response: Agreed. The Corporation made an additional deposit of $123 to the reserve for replacement account on May 15, 2020. No further action required.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-002 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: 12 Sample size information: 12 Statistically valid sample: Three deposits did not include the required deposit increase Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $123 Was the sampling statistically valid: Yes Statement of condition #2020-002 (CFDA No. 14.155): Effective January 1, 2020, monthly deposits into the reserve for replacements account increased from $1,859 to $1,900; however the Corporation did not make the required deposits from January to March. As of March 31, 2020, the reserve for replacement account was underfunded by $123. Criteria: The Regulatory Agreement requires monthly deposits into a separate reserve for replacements account. Effective January 1, 2020, the monthly required deposit increased from $1,859 to $1,900. Effect or potential effect: The Corporation is not in compliance with the terms of the Regulatory Agreement. Cause: The Lender did not update their records for the new deposit amount and the prior reserve for replacement monthly deposit amount was made. Recommendation: Management should transfer $123 from the operating account to the reserve for replacements account. In addition, Management should ensure that the lender updates the monthly reserve for replacements deposit amount when deposits are changed in the future. Completion date: May 15, 2020 Reporting response: Agreed. The Corporation made an additional deposit of $123 to the reserve for replacement account on May 15, 2020. No further action required.
Finding 2020-002: Effective January 1, 2020, monthly deposits into the reserve for replacements account increased from $1,859 to $1,900; however, the Corporation did not make the required deposits from January to March. As of March 31, the reserve for replacement account was underfunded by $123. Management should transfer $123 from the operating account to the reserve for replacements account. In addition, Management should ensure that the lender updates the monthly reserve for replacements deposit amount when deposits are changed in the future. Action(s) taken or planned on the finding Agreed. The Corporation made an additional deposit of $123 to the reserve for replacement account on May 15, 2020. No further action required.
Finding reference number: #2020-003 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: Not applicable Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $63,384 Was the sampling statistically valid: N/A Statement of condition #2020-003 (CFDA No. 14.155): The required deposit of $63,384, per the March 31, 2019 Computation of Surplus Cash, Distribution and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of the fiscal year end. Criteria: Pursuant to Section 11 of the Regulatory Agreement Surplus Cash, as defined by HUD, is to be deposited into the Residual Receipts Fund within 90 days of the fiscal year end. Effect or potential effect: The Corporation is not in compliance with Section 11 of the Regulatory Agreement. Cause: Management did not make the required deposit into the Residual Receipts Funds within 90 days of fiscal year end based on the Computation of Surplus Cash, Distributions and Residual Receipts as of March 31, 2019. Recommendation: Management should monitor the Surplus Cash position and make required deposits to the Residual Receipts Fund within 90 days of fiscal year end. Completion date: July 16, 2019 Reporting response: Agreed. Management concurs with the finding and the auditor's recommendation. The required deposit was made on July 16, 2019. No further action required.
Show full finding ▾Hide full finding ▴Finding reference number: #2020-003 CFDA title and number (federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA No. 14.155 (Project identification number 042-11226, April 2013) Auditor non-compliance code: N-Special Tests and Provisions Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size is not applicable to the finding. Statistically valid sample: Not applicable Name of federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: $63,384 Was the sampling statistically valid: N/A Statement of condition #2020-003 (CFDA No. 14.155): The required deposit of $63,384, per the March 31, 2019 Computation of Surplus Cash, Distribution and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of the fiscal year end. Criteria: Pursuant to Section 11 of the Regulatory Agreement Surplus Cash, as defined by HUD, is to be deposited into the Residual Receipts Fund within 90 days of the fiscal year end. Effect or potential effect: The Corporation is not in compliance with Section 11 of the Regulatory Agreement. Cause: Management did not make the required deposit into the Residual Receipts Funds within 90 days of fiscal year end based on the Computation of Surplus Cash, Distributions and Residual Receipts as of March 31, 2019. Recommendation: Management should monitor the Surplus Cash position and make required deposits to the Residual Receipts Fund within 90 days of fiscal year end. Completion date: July 16, 2019 Reporting response: Agreed. Management concurs with the finding and the auditor's recommendation. The required deposit was made on July 16, 2019. No further action required.
Finding 2020-003: The required deposit of $63,384, per the March 31, 2019 Computation of Surplus Cash, Distribution and Residual Receipts, was not deposited into the Residual Receipts Fund within 90 days of the fiscal year end. Management should monitor the Surplus Cash position and make required deposits to the Residual Receipts Fund within 90 days of fiscal year end. Action(s) taken or planned on the finding Agreed. Management concurs with the finding and the auditor's recommendation. The required deposit was made on July 16, 2019. No further action required.
FAC accepted this audit on September 2, 2019 — management decision was due March 2, 2020.
FAC accepted this audit on June 27, 2018 — management decision was due December 27, 2018.
FAC accepted this audit on July 9, 2017 — management decision was due January 9, 2018.
FAC accepted this audit on September 15, 2016 — management decision was due March 15, 2017.
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