EIN: 382376561
UEI: C4PCPEMHEUR6
Audited by: Yeo & Yeo, P.C.
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 May 26, 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 26, 2026 (80 days from today).
What is a management decision? →FAC accepted this audit on April 25, 2025 — management decision was due October 25, 2025.
FAC accepted this audit on May 1, 2024 — management decision was due November 1, 2024.
FAC accepted this audit on April 25, 2023 — management decision was due October 25, 2023.
FAC accepted this audit on April 28, 2022 — management decision was due October 28, 2022.
FAC accepted this audit on April 30, 2021 — management decision was due October 30, 2021.
FAC accepted this audit on August 4, 2020 — management decision was due February 4, 2021.
The Corporation is required by ?200.508(d) to provide the auditor with access to personnel, accounts, books, records, supporting documentation and other information as needed for the auditor to perform the audit. Context/Criteria: Federal regulations require the Corporation to maintain and provide records needed for the auditor to perform the audit. Cause: During the transition to a new management agent, the prior management agent did not transfer tenant rental receipt support to the new management company. The prior management agent ceased operations and removed the Corporations access to any documentation held by the management agent. Effect: The Corporation was unable to retain support for tenant rental receipts for the period January 1, 2019 through June 30, 2019 when the Corporation was managed by a prior management agent. Recommendation: We recommend the Corporation contact their HUD asset manager to determine if any steps need to be taken as a result of the lack of support related to rental receipts. We also recommend the Corporation develop a checklist of items needed to be obtained from the management agent during a period of transition. View of responsible officials and planned corrective actions: Management is in agreement with the finding. See accompanying Corrective Action Plan.
Show full finding ▾Hide full finding ▴Finding 2019-001: Record Retention Program Name: Section 223(f) Insured Loan ? CFDA 14.155 Awarding Agency: U.S. Department of Housing and Urban Development Finding Type: Material Weakness in Internal Controls over Compliance Questioned Cost Amount: $0 Condition: The Corporation is required by ?200.508(d) to provide the auditor with access to personnel, accounts, books, records, supporting documentation and other information as needed for the auditor to perform the audit. Context/Criteria: Federal regulations require the Corporation to maintain and provide records needed for the auditor to perform the audit. Cause: During the transition to a new management agent, the prior management agent did not transfer tenant rental receipt support to the new management company. The prior management agent ceased operations and removed the Corporations access to any documentation held by the management agent. Effect: The Corporation was unable to retain support for tenant rental receipts for the period January 1, 2019 through June 30, 2019 when the Corporation was managed by a prior management agent. Recommendation: We recommend the Corporation contact their HUD asset manager to determine if any steps need to be taken as a result of the lack of support related to rental receipts. We also recommend the Corporation develop a checklist of items needed to be obtained from the management agent during a period of transition. View of responsible officials and planned corrective actions: Management is in agreement with the finding. See accompanying Corrective Action Plan.
Mercy Housing Corporation HUD Project No. 047-11048 For the Year Ended December 31, 2019 Prepared by: Ashley Ley KMG Prestige Audit Finding 2019-001 ? Record Retention The Corporation concurs with the finding, and now that it has been brought to our attention, will take steps to ensure a checklist is created to verify all required documentation is sent with the Corporation during period of transition between management agents. The management agent will be responsible for following the corrective action plan and we expect to have it completed and implemented by the end of the 2020 calendar year.
FAC accepted this audit on April 17, 2019 — management decision was due October 17, 2019.
FAC accepted this audit on April 5, 2018 — management decision was due October 5, 2018.
FAC accepted this audit on March 7, 2017 — management decision was due September 7, 2017.
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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