EIN: 660714509
UEI: RHF2MC2ZUWM2
Audited by: JLM & CO., LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on July 11, 2023. 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 11, 2024 (972 days ago).
What is a management decision? →FAC accepted this audit on July 11, 2023 — management decision was due January 11, 2024.
Finding No. 2021-001 1. CONDITION ? Vacancy losses is extremely high when compared to last year vacancy losses. Vacancy losses increased in fiscal year 2021 by $62,424 from $31,130 to $93,554, representing a 11.39% of gross potential income. 2. CRITERIA ? Management Agent is not in compliance with the Affirmative Fair Housing Marketing Plan as stated in HUD Handbook 4350.3 Rev. 1, Change 4, Chapter 4, Paragraph 4-12(B)(3) in which indicates that the results of marketing efforts and marketing techniques should be adjusted when necessary to avoid recurring vacancy losses. 3. EFFECT ? Negative impact in cash flows to the Project. 4. CAUSE ? Project advertising and marketing plan has not been effective to attract new prospective tenants. 5. QUESTIONED COST ? Loss of tenant?s revenues in the amount of $93,554. 6. RECOMMENDATION ? Management Agent of the Project must review its Marketing Plan in order to be more successful in attractive new prospective tenants.
Show full finding ▾Hide full finding ▴Finding No. 2021-001 1. CONDITION ? Vacancy losses is extremely high when compared to last year vacancy losses. Vacancy losses increased in fiscal year 2021 by $62,424 from $31,130 to $93,554, representing a 11.39% of gross potential income. 2. CRITERIA ? Management Agent is not in compliance with the Affirmative Fair Housing Marketing Plan as stated in HUD Handbook 4350.3 Rev. 1, Change 4, Chapter 4, Paragraph 4-12(B)(3) in which indicates that the results of marketing efforts and marketing techniques should be adjusted when necessary to avoid recurring vacancy losses. 3. EFFECT ? Negative impact in cash flows to the Project. 4. CAUSE ? Project advertising and marketing plan has not been effective to attract new prospective tenants. 5. QUESTIONED COST ? Loss of tenant?s revenues in the amount of $93,554. 6. RECOMMENDATION ? Management Agent of the Project must review its Marketing Plan in order to be more successful in attractive new prospective tenants.
During the course of this year, and in addition to marketing efforts conducted regularly, we have increased the use of newspaper advertising, established an incentive program for resident referrals from current residents and an incentive for new residents moving into the project. We have also increased the use of social media as a means for marketing. Fundacion is currently in the process of contracting with a company specialized in conducting marketing studies and preparing marketing plans to address vacancy problems in other properties. As part of the process, we will develop metrics that will help to evaluate the efficacy of the marketing efforts conducted. The methodology learned during the process, the strategies developed as part of this marketing plan and the metrics developed to evaluate marketing efforts will be implemented companywide to increase the possibility of success in attracting prospective tenants.
FAC accepted this audit on March 10, 2021 — management decision was due September 10, 2021.
FAC accepted this audit on June 2, 2020 — management decision was due December 2, 2020.
FAC accepted this audit on January 21, 2019 — management decision was due July 21, 2019.
FAC accepted this audit on March 26, 2018 — management decision was due September 26, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on January 9, 2017 — management decision was due July 9, 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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