EIN: 810411708
UEI: MMH3MTJPUDJ8
Audited by: KCoe Isom, LLP
Oversight agency: 19 [Department of State]
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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 June 18, 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 December 18, 2026 (102 days from today).
What is a management decision? →Finding No. 2024-002: Semi-Annual Financial Report Was Not Timely Filed Assistance Title: The Mike Mansfield Fellowship Program Assistance Listing Number: 19.415 Federal Agency: U.S. Department of State Type of Finding: Significant Deficiency and Noncompliance Category of Finding: Reporting: Semi-Annual Financial Reports Known Questioned Costs: $-0- Likely Questioned Costs: $-0- Criteria Per the signed grant agreements for the Mike Mansfield Fellowship Program, the recipient is required to submit semi-annual financial reports. Reports are due 30 days after the end of a reporting period. A final financial report is due 120 calendar days after the period of performance end date. Condition During our reporting testing of one semi-annual financial report, we noted that the one semi-annual report was not filed within 30 days after the end of the reporting period. Cause The late filing of this report appears to be due to staffing changes and inadequate internal controls over the monitoring of the timely filing of these reports, resulting in the late filing. Effect Failure to comply with these reporting requirements may jeopardize the eligibility for future awards and/or delays in payments. Repeat Finding This is not a repeat finding. Recommendation We recommend that the Foundation strengthen its controls over the monitoring of the timely filing of semi-annual and final financial reports. This may include implementing a tracking system to monitor deadlines and conducting periodic semi-annual reviews to verify that the reports were timely filed. Management’s Response Management concurs with this finding. See management’s response and corrective action plan.
Show full finding ▾Hide full finding ▴Finding No. 2024-002: Semi-Annual Financial Report Was Not Timely Filed Assistance Title: The Mike Mansfield Fellowship Program Assistance Listing Number: 19.415 Federal Agency: U.S. Department of State Type of Finding: Significant Deficiency and Noncompliance Category of Finding: Reporting: Semi-Annual Financial Reports Known Questioned Costs: $-0- Likely Questioned Costs: $-0- Criteria Per the signed grant agreements for the Mike Mansfield Fellowship Program, the recipient is required to submit semi-annual financial reports. Reports are due 30 days after the end of a reporting period. A final financial report is due 120 calendar days after the period of performance end date. Condition During our reporting testing of one semi-annual financial report, we noted that the one semi-annual report was not filed within 30 days after the end of the reporting period. Cause The late filing of this report appears to be due to staffing changes and inadequate internal controls over the monitoring of the timely filing of these reports, resulting in the late filing. Effect Failure to comply with these reporting requirements may jeopardize the eligibility for future awards and/or delays in payments. Repeat Finding This is not a repeat finding. Recommendation We recommend that the Foundation strengthen its controls over the monitoring of the timely filing of semi-annual and final financial reports. This may include implementing a tracking system to monitor deadlines and conducting periodic semi-annual reviews to verify that the reports were timely filed. Management’s Response Management concurs with this finding. See management’s response and corrective action plan.
Mansfield Foundation Corrective Action Plan Summary Reviewed and Approved: Frank Jannuzi, Sara Harriger, Lisa Hosegood May 28, 2026 Action 1: Relevant to single audit finding 2024-001: Use external controller services support to ensure timely submission of Required Federal Financial Reports. Planned Implementation An external accounting/controller firm has been engaged to provide oversight and ensure that all bookkeeping and reporting tasks are completed on time. They report to the Vice President and President and work directly with the Director of Finance. They will provide weekly and monthly monitoring of financial procedures, regular financial reporting to management, and track grant reporting deadlines. This arrangement will continue for the foreseeable future. Responsible Party Outsourced CFO; Director of Finance Target Completion Ongoing Action 2: Relevant to single audit finding 2024-001: Apply an internal tracking system to ensure timely submission of Required Federal Financial Reports. Planned Implementation A reporting calendar will be established and maintained by the Director of Programs, with deadlines flagged 30 days in advance. Automated reminders will be circulated to responsible staff one month, two weeks, and one week prior to each filing deadline Responsible Party Outsourced CFO; Director of Finance, Director of Programs Target Completion Implement within three months Action 3: Relevant to single audit finding 2024-001: Implement a management review system to ensure timely submission of Required Federal Financial Reports. Planned Implementation The Vice President will verify completion of each report prior to submission. The President will receive confirmation that the report was submitted on or before the required deadline. Responsible Party President, Vice President, Director of Finance Target Completion Implement within three months Action 4: Relevant to single audit finding 2024-001: Implement a regular briefing to leadership to ensure compliance and monitor timely submission of Required Federal Financial Reports. Planned Implementation Twice annually, the Director of Finance will brief leadership on the status of required reports and confirm compliance. Responsible Party Outsourced CFO, Director of Finance Target Completion Implement within three months Action 5: Relevant to single audit finding 2024-001: Assign clear lines of responsibility to ensure timely submission of Required Federal Financial Reports. Planned Implementation The President and Vice President are ultimately accountable for submission of timely reports and will provide adequate resources and support, monitor regular bookkeeping and grant deadlines, and hold staff accountable for preparation of the reports. The Directors of Programs and of Finance will be the primary lead for monitoring deadlines, gathering information, and effectuating the timely preparation and submission of all financial reports. Responsible Party President, Vice President, Director of Programs, Director of Finance Target Completion Ongoing Action 6: Develop and formally document a standardized month‑end and year‑end close checklist, including required reconciliations, review sign‑offs, and reporting deadlines. Planned Implementation Management will implement a formal month‑end and year‑end close checklist that outlines key close activities, required account reconciliations, documentation standards, review and approval sign‑offs, and established reporting timelines. The checklist will clearly assign responsibility for each task to designated finance personnel to ensure accountability and consistency in execution. Responsible Party Outsourced CFO; Director of Finance Target Completion Implement for the next fiscal quarter close Action 7: Establish documented review procedures for key balance sheet accounts, including independent review of reconciliations and journal entries. Planned Implementation Management will implement formal, documented review procedures requiring monthly balance sheet reconciliations for all accounts, prepared on a timely basis and reviewed by appropriate Finance lead. In addition, management will require review and approval of journal entries associated with period‑end close activities to strengthen oversight and reduce the risk of error or misclassification. These review procedures will be integrated into the month‑end and year‑end close process and retained as part of the Foundation’s accounting records. Responsible Party Outsourced CFO; Director of Finance Target Completion Ongoing Action 8: Implement a formal budget‑to‑actual review process with documented explanations and periodic reporting to the Board of Directors Planned Implementation Management will establish a standardized budget‑to‑actual review process to be performed on a recurring Quarterly basis. This process will include preparation of variance analyses with documented explanations for significant differences between actual results and the approved budget. These reviews will be completed timely and used as a monitoring control to identify unexpected trends or potential misstatements requiring further review. Responsible Party Outsourced CFO; Director of Finance, Director of Programs Target Completion Implement within three months Action 9: Implement a structured system for tracking grants and contributions, including documentation of donor intent, restriction classification, and release schedules Planned Implementation Management will implement formal grant and contribution tracking procedures designed to document donor and grantor restrictions at the time of receipt and to monitor those restrictions throughout the life of the award. These procedures will support appropriate classification of net assets with and without donor restrictions and timely recognition of releases from restriction in accordance with donor intent and applicable GAAP rules. Responsible Party Outsourced CFO; Director of Finance Target Completion Implement within three months Action 10: Establish procedures for timely identification and release of donor‑restricted funds in accordance with donor and grantor requirements Planned Implementation Management will implement documented procedures to ensure that donor‑imposed restrictions and grantor requirements are identified at the time of receipt and tracked throughout the life of the contribution or grant. These procedures will include quarterly review of restricted net asset balances to ensure that restrictions are released in a timely manner when the applicable purpose or time requirements are satisfied. Responsible Party Outsourced CFO; Director of Finance Target Completion Ongoing Action 11: Strengthen technical accounting review through training, cross‑training, and use of qualified external resources as needed. Planned Implementation To address this recommendation, management has engaged an outsourced accounting team to provide technical accounting support and to assist with the development and documentation of formal finance policies and standard operating procedures (SOPs). These SOPs and policies will establish consistent accounting practices, clarify review and approval responsibilities, and provide appropriate documentation to support accounting judgments and GAAP‑compliant financial reporting. In addition, management will implement targeted training and cross‑training within the finance function to strengthen internal technical accounting knowledge and reduce reliance on single individuals for critical accounting functions. Periodic technical review by qualified internal and external personnel will be incorporated into the close and review process to support accurate application of accounting standards. Responsible Party Outsourced CFO; Director of Finance Target Completion Ongoing Action 12: Improve segregation of duties and compensating controls where full segregation is not feasible Planned Implementation To strengthen segregation of duties within the finance function, management has hired a full‑time Finance Associate, which will allow for clearer separation of transaction processing, review, and reconciliation responsibilities. In addition, management has engaged a part‑time, outsourced accounting firm to provide supplemental support, oversight, and review of selected accounting activities. Responsible Party Vice President, Outsourced CFO; Director of Finance, Finance Assistant Target Completion Within six months Action 13: Continued segregation of duties Planned Implementation Where limited staffing continues to constrain full segregation, management will implement and document compensating controls, including review of reconciliations, journal entries, and financial reports by qualified personnel. Management believes these actions will enhance the design and operating effectiveness of internal controls, reduce reliance on single‑person processes, and support more accurate and reliable financial reporting in accordance with GAAP. Responsible Party Vice President, Outsourced CFO; Director of Finance, Finance Assistant Target Completion Within six months
FAC accepted this audit on January 8, 2024 — management decision was due July 8, 2024.
FAC accepted this audit on December 19, 2022 — management decision was due June 19, 2023.
FAC accepted this audit on November 3, 2020 — management decision was due May 3, 2021.
The Foundation has inadequately designed controls over the compliance requirements under Uniform Guidance specifically the requirements surrounding allowable costs and procurement. Criteria: Uniform Guidance requires adequate internal controls over compliance requirements for federal awards. The Uniform Guidance also requires updated policies and procedures. Context: We noted instances where the controls do not appear to be effectively designed, including the process for reviewing of expenditures for allowability. We noted the Foundation did not have an updated procurement policy in accordance with Uniform Guidance Requirements. Effect: No material noncompliance or questioned costs were noted in the period under audit; however, continued findings could result in loss of funding. Cause: The Foundation experienced an extended absence of a key financial management team member. Once the position was filled, management began re-establishing a system of internal control, including internal control over compliance. Recommendation: We recommend management establish a system of internal controls over compliance requirements for all locations. We also recommend that management updates their procurement policy to be in accordance with Uniform Guidance requirements. Management Response: See Management's Corrective Action Plan on page 39.
Show full finding ▾Hide full finding ▴#2020-001 ? Grant Management Condition: The Foundation has inadequately designed controls over the compliance requirements under Uniform Guidance specifically the requirements surrounding allowable costs and procurement. Criteria: Uniform Guidance requires adequate internal controls over compliance requirements for federal awards. The Uniform Guidance also requires updated policies and procedures. Context: We noted instances where the controls do not appear to be effectively designed, including the process for reviewing of expenditures for allowability. We noted the Foundation did not have an updated procurement policy in accordance with Uniform Guidance Requirements. Effect: No material noncompliance or questioned costs were noted in the period under audit; however, continued findings could result in loss of funding. Cause: The Foundation experienced an extended absence of a key financial management team member. Once the position was filled, management began re-establishing a system of internal control, including internal control over compliance. Recommendation: We recommend management establish a system of internal controls over compliance requirements for all locations. We also recommend that management updates their procurement policy to be in accordance with Uniform Guidance requirements. Management Response: See Management's Corrective Action Plan on page 39.
Audit Finding and Response October 8, 2020 We will implement and communicate strong internal controls over reviewing and approving expenditures in our offices. Going forward, staff approving an expenditure must sign and date the invoice indicating their approval of the payment. We will also update our procurement policy to be in accordance with Uniform Guidance requirements. With these improvements, we will have stronger grant management controls in place.
2019-002
FAC accepted this audit on February 10, 2020 — management decision was due August 10, 2020.
The Foundation appears to have inadequately designed controls over the compliance requirements under Uniform Guidance and over financial reporting; specifically the requirements surrounding allowable costs, procurement and reporting. Criteria: Grant agreements tested as part of the major program require compliance with the Uniform Guidance. The Uniform Guidance requires adequate internal controls over compliance requirements for federal awards. The Uniform Guidance also requires updated policies and procedures. Additionally, the Foundation is required to prepare an accurate Schedule of Expenditures of Federal Awards (the Schedule) under Part 200.510, paragraph (b) of the Uniform Guidance; controls should be in place to allow for accurate preparation of the schedule. The Foundation is also required to provide timely and accurate reporting under the requirements of the federal award; controls should be in place to allow for compliance. Context: We noted several instances where the controls do not appear to be effectively designed, including the process for reviewing of expenditures for allowability and timely and accurate filing of required reports, which resulted in filing of inaccurate grant reporting. We noted the Foundation did not have an updated procurement policy in accordance with Uniform Guidance Requirements. We detected $15,937 of federal expenditures that were not included on the Schedule originally presented for audit. Effect: No material noncompliance or questioned costs were noted in the period under audit; however, continued findings could result in loss of funding. Cause: The Foundation experienced an extended absence of a key financial management team member. Once the position was filled, management began re-establishing a system of internal control, including internal control over compliance. Recommendation: We recommend management establish a system of internal controls over compliance requirements for all locations. We also recommend that management updates their procurement policy to be in accordance with Uniform Guidance requirements. It appears management has already established a system to allow for timely and accurate filing of required reports. Management Response: See Management's Corrective Action Plan on page 42.
Show full finding ▾Hide full finding ▴#2019-002 ? Grant Management Condition: The Foundation appears to have inadequately designed controls over the compliance requirements under Uniform Guidance and over financial reporting; specifically the requirements surrounding allowable costs, procurement and reporting. Criteria: Grant agreements tested as part of the major program require compliance with the Uniform Guidance. The Uniform Guidance requires adequate internal controls over compliance requirements for federal awards. The Uniform Guidance also requires updated policies and procedures. Additionally, the Foundation is required to prepare an accurate Schedule of Expenditures of Federal Awards (the Schedule) under Part 200.510, paragraph (b) of the Uniform Guidance; controls should be in place to allow for accurate preparation of the schedule. The Foundation is also required to provide timely and accurate reporting under the requirements of the federal award; controls should be in place to allow for compliance. Context: We noted several instances where the controls do not appear to be effectively designed, including the process for reviewing of expenditures for allowability and timely and accurate filing of required reports, which resulted in filing of inaccurate grant reporting. We noted the Foundation did not have an updated procurement policy in accordance with Uniform Guidance Requirements. We detected $15,937 of federal expenditures that were not included on the Schedule originally presented for audit. Effect: No material noncompliance or questioned costs were noted in the period under audit; however, continued findings could result in loss of funding. Cause: The Foundation experienced an extended absence of a key financial management team member. Once the position was filled, management began re-establishing a system of internal control, including internal control over compliance. Recommendation: We recommend management establish a system of internal controls over compliance requirements for all locations. We also recommend that management updates their procurement policy to be in accordance with Uniform Guidance requirements. It appears management has already established a system to allow for timely and accurate filing of required reports. Management Response: See Management's Corrective Action Plan on page 42.
Our efforts to strengthen our accounting policies and procedures have benefited from our updated accounting software's (Intacct) ability to require approval of accounts payable. These features ensure that expenditures are reviewed and recorded to the proper fiscal period, are an allowed expenditure within Uniform Guidance, and include supporting documentation prior to payment. One member of our finance team has received training to master Intacct's full suite of capabilities including a feature to require approval of journal entries, which was recently implemented. After the extended absence of a key financial management team member, the new team has worked diligently to get the Foundation's financial records current. Financial statements are now completed within 45 days of the month end. Management currently receives the Foundation's bank statement each month and also reviews the bank reconciliations. Our finance team began providing quarterly financial reporting to Management and the Board of Directors with Q1 FY2020. The Director of Finance will update the Accounting Policy and Procedures Manual to include specific expenditure authorization procedures for our DC and Tokyo offices and updated procurement policies to ensure need and value for goods and services to be purchased. Management will work with the finance team and program officers to generate timely grant reconciliations, thereby improving monitoring of grant expenditures and reimbursements. Additionally, management will consult more closely with the finance team during grant writing and application process to ensure that financial record-keeping tools are in place promptly to track grant expenditures after the launch of any new programs.
2018-002
FAC accepted this audit on October 30, 2019 — management decision was due April 30, 2020.
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2017-003
FAC accepted this audit on February 20, 2018 — management decision was due August 20, 2018.
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FAC accepted this audit on October 27, 2016 — management decision was due April 27, 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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