EIN: 851383592
UEI: T8LKNJC8D5R3
Audited by: AAFCPAs, Inc.
Oversight agency: 47 [National Science Foundation]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 31, 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 October 1, 2026 (30 days from today).
What is a management decision? →FAC accepted this audit on March 26, 2026 — management decision was due September 26, 2026.
FAC accepted this audit on March 31, 2026 — management decision was due October 1, 2026.
FAC accepted this audit on June 20, 2025 — management decision was due December 20, 2025.
FAC accepted this audit on March 31, 2025 — management decision was due October 1, 2025.
The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024. Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements. Effect: May impact future funding from NSF. Repeat Finding: Yes, repeat finding of 2022-002. Questioned costs: None Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee. Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Show full finding ▾Hide full finding ▴Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2024. Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: The federal audit was not completed until March 2025 as management did not timely engage an audit firm to meet filing requirements. Effect: May impact future funding from NSF. Repeat Finding: Yes, repeat finding of 2022-002. Questioned costs: None Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee. Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Finding 2023-002: Reporting (Significant Deficiency): The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation, or their designee, by the due date of June 30, 2024. Name of Contact Person: Charles Xie, Chief Executive Officer email: charles@intofuture.org Corrective Action Plan: The Organization underwent a single audit as required by Uniform Guidance for the year that ended September 30, 2023. The Organization designated an individual at the Organization to implement procedures and monitor the timely filing of the single audit. The Organization had never been subjected to a prior single audit, and thus this was the first time they needed to produce supporting documentation. The Organization will monitor these due dates in future single audits and the individual will monitor timely completion of those single audits. Anticipated Completion Date: Immediately
2022-002
The Organization erroneously recorded a prior year subaward expense as a 2023 subaward expense. This was missed during the Chief Financial Officer's review of subaward invoices and during the Chief Executive Officer's overall review of the Statement of Expenditure of Federal Awards. Criteria: Under 2 CFR §200.332, pass through entities are required to review financial and performance reports of subawardees to ensure accurate reporting and cutoff of invoices related to subawards. Cause: The client does not have sufficient controls in place to ensure accurate reporting and cutoff of invoices related to subawards. Effect: The preliminary Statement of Expenditure of Federal Awards ("SEFA") was understated in the current period. Questioned costs: None. Recommendation: Management should review subaward invoices after year-end to determine proper recording in the proper period to which it relates. Views of responsible officials: Management of the Organization agrees with the finding. Management plans to review and revise existing policies and procedures to ensure accurate recording and proper cutoff of invoices related to subawards.
Show full finding ▾Hide full finding ▴Condition: The Organization erroneously recorded a prior year subaward expense as a 2023 subaward expense. This was missed during the Chief Financial Officer's review of subaward invoices and during the Chief Executive Officer's overall review of the Statement of Expenditure of Federal Awards. Criteria: Under 2 CFR §200.332, pass through entities are required to review financial and performance reports of subawardees to ensure accurate reporting and cutoff of invoices related to subawards. Cause: The client does not have sufficient controls in place to ensure accurate reporting and cutoff of invoices related to subawards. Effect: The preliminary Statement of Expenditure of Federal Awards ("SEFA") was understated in the current period. Questioned costs: None. Recommendation: Management should review subaward invoices after year-end to determine proper recording in the proper period to which it relates. Views of responsible officials: Management of the Organization agrees with the finding. Management plans to review and revise existing policies and procedures to ensure accurate recording and proper cutoff of invoices related to subawards.
Finding 2023-003: Subrecipient Monitoring (Significant Deficiency): The Organization erroneously recorded a prior year subaward expense as a 2023 subaward expense. This was missed during the Chief Financial Officer’s review of subaward invoices and during the Chief Executive Officer’s overall review of the Statement of Expenditure of Federal Awards. Name of Contact Person: Charles Xie, Chief Executive Officer email: charles@intofuture.org Corrective Action Plan: The Organization has a small accounting department, which consists of an outsourced bookkeeper. The bookkeeper works part time and did not timely reconcile certain accounts. The Organization has ensured all reconciliations are being done monthly and are reviewed, and that proper cutoff of invoices is implemented and reviewed at year-end. Anticipated Completion Date: Immediately
FAC accepted this audit on June 18, 2024 — management decision was due December 18, 2024.
The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2023. Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: The federal audit was not completed until June 2024 as management did not timely engage an audit firm to meet filing requirements. Effect: May impact future funding from NSF. Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee. Questioned costs: None Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Show full finding ▾Hide full finding ▴Finding 2022-002: Late Audit Reporting Condition: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation ("NSF"), or their designee, by the due date of June 30, 2023. Criteria: 45 CFR §75.501 requires organizations that complete a Generally Accepted Government Auditing Standards Financial Audit under 45 CFR §75.216 to submit a financial related audit in accordance with Government Auditing Standards by the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Cause: The federal audit was not completed until June 2024 as management did not timely engage an audit firm to meet filing requirements. Effect: May impact future funding from NSF. Recommendation: We recommend the Organization continue to review policies and procedures over financial reporting in order to ensure future audits are filed timely with NSF, or its designee. Questioned costs: None Views of responsible officials: Management of the Organization agrees with the finding. The Organization will ensure future audits are filed timely with NSF, or its designee. The Organization's corrective action plan is included at the end of this report.
Finding 2022-002: Late Audit Reporting: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation, or their designee, by the due date of June 30, 2023. Name of Contact Person: Charles Xie, Chief Executive Officer email: charles@intofuture.org Corrective Action Plan: The Organization underwent a single audit as required by Uniform Guidance for the year that ended September 30, 2022. The Organization designated an individual at the Organization to implement procedures and monitor the timely filing of the single audit. Part of the reason for the delay was that the Organization had never been subjected to a single audit before, and thus this was the first time they needed to produce supporting documentation. As the Organization was established in June 2020, it was only subject to a regular audit for the year ended September 30, 2021. At that time, the Organization had signed a three-year audit contract with Treeful Damaso Aniceto, Inc. However, when it came the time to audit the year ended September 30, 2022, the audit firm unexpectedly notified the Organization that they no longer performed single audits. As a result, the Organization needed to seek a new audit firm. But many firms that the Organization contacted were already overbooked. It was not until late 2023 that the Organization received quotes from several firms, of which the current auditor was chosen through a process of careful evaluation and comparison. From now on, the Organization will monitor these due dates in future single audits to ensure timely completion. Anticipated Completion Date: Immediately
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