EIN: 520853093
UEI: EL56UBDYP5N3
Audited by: Grandizio, Wilkins, Little & Matthews, LLP
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 December 19, 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 June 19, 2026 (79 days ago).
What is a management decision? →FAC accepted this audit on November 25, 2024 — management decision was due May 25, 2025.
FAC accepted this audit on March 7, 2024 — management decision was due September 7, 2024.
FAC accepted this audit on July 26, 2023 — management decision was due January 26, 2024.
2022-001 ? Late Office of Management and Budget (OMB) Submission Information on the Universe Population Size One (1) OMB submission. Sample Size Information One (1) OMB submission. Identification of Repeat Finding Reference Number 2021-001 Criteria The Entity?s Uniform Guidance submission the OMB was due within thirty (30) days after the report date. Statement of Condition The OMB submission was not submitted before the due date. Cause The cause of the late OMB submission was management oversight due to change in management personnel positions. Effect or Potential Effect The Entity was not in compliance with the requirement to complete the filing of their Uniform Guidance submission to the OMB within thirty (30) days of the report date and therefore the Entity cannot be considered a low risk auditee. Auditor Non-Compliance Code Z ? Other Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance of management oversight. Repeat finding Yes Recommendations Auditor recommends that management more closely monitor the signing of the OMB submission to ensure timely completion. Views of Responsible officials Auditee agrees with the finding. The 2021 finding was corrected by signing the OMB submission on 10/11/2022. The 2022 OMB filing will be signed upon the receipt of the finalized audit.
Show full finding ▾Hide full finding ▴2022-001 ? Late Office of Management and Budget (OMB) Submission Information on the Universe Population Size One (1) OMB submission. Sample Size Information One (1) OMB submission. Identification of Repeat Finding Reference Number 2021-001 Criteria The Entity?s Uniform Guidance submission the OMB was due within thirty (30) days after the report date. Statement of Condition The OMB submission was not submitted before the due date. Cause The cause of the late OMB submission was management oversight due to change in management personnel positions. Effect or Potential Effect The Entity was not in compliance with the requirement to complete the filing of their Uniform Guidance submission to the OMB within thirty (30) days of the report date and therefore the Entity cannot be considered a low risk auditee. Auditor Non-Compliance Code Z ? Other Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance of management oversight. Repeat finding Yes Recommendations Auditor recommends that management more closely monitor the signing of the OMB submission to ensure timely completion. Views of Responsible officials Auditee agrees with the finding. The 2021 finding was corrected by signing the OMB submission on 10/11/2022. The 2022 OMB filing will be signed upon the receipt of the finalized audit.
Auditee agrees with the finding. The finding for 2021 was corrected by signing the OMB Submission on 10/11/22. Additionally, the finding for 2022 will be corrected upon the receipt of the finalized audit.
2021-001
FAC accepted this audit on October 11, 2022 — management decision was due April 11, 2023.
2021-001 ? Late Office of Management and Budget (OMB) Submission Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size One (1) OMB submission. Sample Size Information One (1) OMB submission. Identification of Repeat Finding Reference Number N/A Criteria The Entity?s Uniform Guidance submission the OMB was due within thirty (30) days after the report date. Statement of Condition The OMB submission was not submitted before the due date. Cause The cause of the late OMB submission was management oversight due to change in management personnel positions. Effect or Potential Effect The Entity was not in compliance with the requirement to complete the filing of their Uniform Guidance submission to the OMB within thirty (30) days of the report date and therefore the Entity cannot be considered a low risk auditee. Auditor Non-Compliance Code L ? Reporting Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance of management oversight. Repeat finding No Recommendations Auditor recommends that management more closely monitor the signing of the OMB submission to ensure timely completion. Views of Responsible officials See corrective action plan.
Show full finding ▾Hide full finding ▴2021-001 ? Late Office of Management and Budget (OMB) Submission Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size One (1) OMB submission. Sample Size Information One (1) OMB submission. Identification of Repeat Finding Reference Number N/A Criteria The Entity?s Uniform Guidance submission the OMB was due within thirty (30) days after the report date. Statement of Condition The OMB submission was not submitted before the due date. Cause The cause of the late OMB submission was management oversight due to change in management personnel positions. Effect or Potential Effect The Entity was not in compliance with the requirement to complete the filing of their Uniform Guidance submission to the OMB within thirty (30) days of the report date and therefore the Entity cannot be considered a low risk auditee. Auditor Non-Compliance Code L ? Reporting Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance of management oversight. Repeat finding No Recommendations Auditor recommends that management more closely monitor the signing of the OMB submission to ensure timely completion. Views of Responsible officials See corrective action plan.
Owner is preparing.
2021-002 Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size One (1) surplus cash deposit Sample Size Information One (1) surplus cash deposit Identification of Repeat Finding Reference Number 2020-001 Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days after the fiscal year end. Statement of Condition The 2021 surplus cash deposit was not made. Cause The cause of why the deposit was not made is due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code N- Special tests and provisions Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight. Repeat finding Yes Recommendations Auditor recommends that management ensures the surplus cash deposit is done timely in the future. Views of Responsible officials See corrective action plan.
Show full finding ▾Hide full finding ▴2021-002 Timely Deposit of Surplus Cash Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size One (1) surplus cash deposit Sample Size Information One (1) surplus cash deposit Identification of Repeat Finding Reference Number 2020-001 Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days after the fiscal year end. Statement of Condition The 2021 surplus cash deposit was not made. Cause The cause of why the deposit was not made is due to management oversight. Effect or Potential Effect The requirement to deposit surplus cash within 90 days of the fiscal year end was not met. Auditor Non-Compliance Code N- Special tests and provisions Questioned Costs There were no known questioned costs. Perspective The finding represents an instance of management oversight. Repeat finding Yes Recommendations Auditor recommends that management ensures the surplus cash deposit is done timely in the future. Views of Responsible officials See corrective action plan.
Owner is preparing.
2020-001
2021-003 Security Deposits Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size Security deposit activity for the year ended August 31, 2021. Sample Size Information N/A Identification of Repeat Finding Reference Number N/A Criteria Maryland State Law requires that the landlord must return to the tenant the security deposit minus any amount which the landlord may rightfully keep within 45 days after the end of the rental period. Statement of Condition Security deposits were not reconciled to the tenants during 2021. Cause The cause of why the deposits were not reconciled is due to management oversight and change in management personnel positions. Effect or Potential Effect Security deposits may not have been refunded to tenants within the required time frame. Auditor Non-Compliance Code N- Special tests and provisions Questioned Costs There were no known questioned costs. Perspective Repeat Finding No Recommendations Auditor recommends that management ensures the tenant security deposits disposition are reconciled and refunded timely in the future. Views of Responsible Officials See corrective action plan. The finding represents an instance of management oversight caused by a change in management personnel.
Show full finding ▾Hide full finding ▴2021-003 Security Deposits Federal Assistance Listing Number 14.155 Name of Federal Program or Cluster Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Information on the Universe Population Size Security deposit activity for the year ended August 31, 2021. Sample Size Information N/A Identification of Repeat Finding Reference Number N/A Criteria Maryland State Law requires that the landlord must return to the tenant the security deposit minus any amount which the landlord may rightfully keep within 45 days after the end of the rental period. Statement of Condition Security deposits were not reconciled to the tenants during 2021. Cause The cause of why the deposits were not reconciled is due to management oversight and change in management personnel positions. Effect or Potential Effect Security deposits may not have been refunded to tenants within the required time frame. Auditor Non-Compliance Code N- Special tests and provisions Questioned Costs There were no known questioned costs. Perspective Repeat Finding No Recommendations Auditor recommends that management ensures the tenant security deposits disposition are reconciled and refunded timely in the future. Views of Responsible Officials See corrective action plan. The finding represents an instance of management oversight caused by a change in management personnel.
Owner is preparing.
FAC accepted this audit on August 16, 2022 — management decision was due February 16, 2023.
Program CFDA #14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Finding No. 2020-001 ? Surplus Cash Payment Information on the Universe Population Size N/A Sample Size Information N/A Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days after fiscal year end. Statement of Condition Management was supposed to make surplus cash deposits after the prior year final audit issued. However, auditor notes that management has not deposited the surplus cash during the year ended August 31, 2020. Cause The cause of not depositing the surplus cash payment was due to management oversight. Effect or Potential Effect The surplus cash of $3,611 was not deposited into residual receipts account as required. Auditor Non-Compliance Code N- Surplus cash payment Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance due to management oversight Repeat finding No Recommendations Auditor recommends that the Entity deposit the required surplus cash immediately to make it current and create a better system of controls to ensure no future occurrences. No further action required. Views of Responsible officials See corrective action plan
Show full finding ▾Hide full finding ▴Program CFDA #14.155 Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects Finding No. 2020-001 ? Surplus Cash Payment Information on the Universe Population Size N/A Sample Size Information N/A Identification of Repeat Finding Reference Number N/A Criteria The regulatory agreement requires surplus cash payments to be deposited in the residual receipts reserve within 90 days after fiscal year end. Statement of Condition Management was supposed to make surplus cash deposits after the prior year final audit issued. However, auditor notes that management has not deposited the surplus cash during the year ended August 31, 2020. Cause The cause of not depositing the surplus cash payment was due to management oversight. Effect or Potential Effect The surplus cash of $3,611 was not deposited into residual receipts account as required. Auditor Non-Compliance Code N- Surplus cash payment Questioned Costs There were no known questioned costs. Perspective The finding represents an isolated instance due to management oversight Repeat finding No Recommendations Auditor recommends that the Entity deposit the required surplus cash immediately to make it current and create a better system of controls to ensure no future occurrences. No further action required. Views of Responsible officials See corrective action plan
Awaiting Corrective Action Plan from Owner
FAC accepted this audit on December 2, 2020 — management decision was due June 2, 2021.
FAC accepted this audit on May 30, 2019 — management decision was due November 30, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-001
FAC accepted this audit on January 31, 2018 — management decision was due July 31, 2018.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on June 20, 2017 — management decision was due December 20, 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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