EIN: 582592577
UEI: QBH1RPLDWG44
Data as of August 25, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 15, 2024. 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 January 15, 2025 (587 days ago).
What is a management decision? →The project paid expenses for an adjacent property. Cause: The Corporation paid non-project expenses from Project funds. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: H - Unauthorized Distribution of Project Funds Questioned Costs: $899 Reportable Views of Responsible Officials: We agree that the Corporation paid amounts from Project funds for non-project expenses. Context: Not applicable Recommendation: Expense allocations should be closely monitored to ensure Project funds are not used for nonproject expenses. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024
Show full finding ▾Hide full finding ▴Finding Reference Number: 2023-02 Title and Federal Assistance Listing Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: Unresolved Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: Not applicable Criteria: In accordance with HUD regulations, entities should not make unauthorized distributions of project funds. Statement of Condition: The project paid expenses for an adjacent property. Cause: The Corporation paid non-project expenses from Project funds. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: H - Unauthorized Distribution of Project Funds Questioned Costs: $899 Reportable Views of Responsible Officials: We agree that the Corporation paid amounts from Project funds for non-project expenses. Context: Not applicable Recommendation: Expense allocations should be closely monitored to ensure Project funds are not used for nonproject expenses. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024
In accordance with HUD regulations, entities should not make unauthorized distributions of project funds. The project paid expenses for an adjacent property. The Corporation paid non-project expenses from Project funds. The Project is noncompliant with the HUD regulatory agreement. Expense allocations should be closely monitored to ensure Project funds are not used for non-project expenses.
The fidelity bond policy lapsed during the year. Cause: The renewal of the policy was not completed in a timely manner resulting in a lapse of coverage. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: Z Questioned Costs: $- Reportable Views of Responsible Officials: Management is in agreement with the finding and will adhere to the requirements set forth in the HUD Handbook going forward and reinstate the fidelity bond insurance policy in accordance with HUD regulations. Context: Not applicable Recommendation: The policy should be renewed in a timely manner to ensure no lapses in coverage. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024
Show full finding ▾Hide full finding ▴Finding Reference Number: 2023-03 Title and Federal Assistance Listing Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: Unresolved Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: Not applicable Criteria: The HUD Handbook states that management agents are required to have fidelity bond insurance of two months gross rent or $50,000, whichever is greater. Statement of Condition: The fidelity bond policy lapsed during the year. Cause: The renewal of the policy was not completed in a timely manner resulting in a lapse of coverage. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: Z Questioned Costs: $- Reportable Views of Responsible Officials: Management is in agreement with the finding and will adhere to the requirements set forth in the HUD Handbook going forward and reinstate the fidelity bond insurance policy in accordance with HUD regulations. Context: Not applicable Recommendation: The policy should be renewed in a timely manner to ensure no lapses in coverage. Auditors’ Summary of the Auditee’s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2024
Management is in agreement with the finding and will adhere to the requirements set forth in the HUD Handbook going forward and reinstate the fidelity bond insurance policy in accordance with HUD regulations.
FAC accepted this audit on April 23, 2023 — management decision was due October 23, 2023.
The project overpaid management fees by $4,142. Cause: The Corporation paid management fees in excess of the amount allowed by the Regulatory Agreement. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: J - Unauthorized Management Fees Questioned Costs: $4,142 Reportable Views of Responsible Officials: We agree that the Corporation overpaid the management fees, resulting in a receivable from HRC as of December 31, 2022. Management agrees that the fees were paid in excess of the amount allowed by the HUD approved management certification. Context: Not applicable Recommendation: Management fee calculations should be consistent with terms agreed upon. Auditors? Summary of the Auditee?s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2023
Show full finding ▾Hide full finding ▴Finding Reference Number: 2022-01 Title and CFDA Number of Federal Program: Section 202 Capital Advance and PRAC, 14.157 Type of Finding: Federal Award Finding Finding Resolution Status: Unresolved Information on Universe Population Size: n/a Sample Size Information: n/a Identification of Repeat Finding and Finding Reference Number: Not applicable Criteria: In accordance with HUD regulations, entities should not make unauthorized distributions of project funds. Statement of Condition: The project overpaid management fees by $4,142. Cause: The Corporation paid management fees in excess of the amount allowed by the Regulatory Agreement. Effect or Potential Effect: The Project is noncompliant with the HUD regulatory agreement. Auditor Non-Compliance Code: J - Unauthorized Management Fees Questioned Costs: $4,142 Reportable Views of Responsible Officials: We agree that the Corporation overpaid the management fees, resulting in a receivable from HRC as of December 31, 2022. Management agrees that the fees were paid in excess of the amount allowed by the HUD approved management certification. Context: Not applicable Recommendation: Management fee calculations should be consistent with terms agreed upon. Auditors? Summary of the Auditee?s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2023
Reportable Views of Responsible Officials: We agree that the Corporation overpaid the management fees, resulting in a receivable from HRC as of December 31, 2022. Management agrees that the fees were paid in excess of the amount allowed by the HUD approved management certification. Context: Not applicable Recommendation: Management fee calculations should be consistent with terms agreed upon. Auditors? Summary of the Auditee?s Comments on the Findings and Recommendations: Agree with management's assessment. Response Indicator: Agree Completion Date: 12/31/2023
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