EIN: 853072819
UEI: N1WXQA5Z39C6
Audited by: Wipfli LLP
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on September 30, 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 March 30, 2026 (152 days ago).
What is a management decision? →The Center for Black Excellence and Culture, Inc. does not have policies and procedures related to its financial management system. The Center for Black Excellence and Culture, Inc. is reliant upon an outsourced accountant for all accounting functions and reviewed financial information once during the year. Criteria: Uniform Guidance 200.302(b)(4) states each non federal entity must provide for "effective control over, and accountability for, all funds, property, and other assets." Effect: A fiscal procedures manual serves as the foundation for financial integrity, consistency, and compliance, establishing internal controls, standardizing processes, and clarifying roles and responsibilities. Fiscal procedures also should address the frequency and timing of processes. Financial information reviewed regularly means that errors and other problems may be recognized and resolved on a timely basis. Auditor's Recommendation: We recommend the Center for Black Excellence and Culture, Inc. develop policies to allow for consistency in reporting as well as an understanding by management of how the financial statements are prepared. Some basic policies that should be included in the manual include: • Code of conduct and conflict of interest policy • Basis of accounting • Bank reconciliations • Documentation retention • Internal controls Lines of authority and/or segregation of duties Conflict of interest • Financial reporting (what reports need to be created and how often) • Revenue recognition Definitions for conditional and unconditional contributions Process for tracking conditional contributions and donor restrictions Timing of recognition of contribution and grant revenue Process for identifying uncollectible receivables and the accounting treatment • Expenses Purchases and procurement Invoice approval and processing Payroll • Year end closing procedures Financial information, such as bank reconciliations, journal entries, and financial statement balances, should be reviewed on a monthly basis by a member of the Board of Directors who can determine whether balances are reasonable. View of Responsible Officials: Management agrees with this finding and has prepared a corrective action plan.
Show full finding ▾Hide full finding ▴2024 001 Accounting Policies and Procedures and Financial Review Federal program information: Funding Agency: U.S. Department of Housing and Urban Development Title: Economic Development Initiative, Community Project Funding, and Miscellaneous Grants AL Number: 14.251 Award year and number: 01/01/2024 12/31/2024 B 22 CP WI 0969 Questioned Costs: None Condition: The Center for Black Excellence and Culture, Inc. does not have policies and procedures related to its financial management system. The Center for Black Excellence and Culture, Inc. is reliant upon an outsourced accountant for all accounting functions and reviewed financial information once during the year. Criteria: Uniform Guidance 200.302(b)(4) states each non federal entity must provide for "effective control over, and accountability for, all funds, property, and other assets." Effect: A fiscal procedures manual serves as the foundation for financial integrity, consistency, and compliance, establishing internal controls, standardizing processes, and clarifying roles and responsibilities. Fiscal procedures also should address the frequency and timing of processes. Financial information reviewed regularly means that errors and other problems may be recognized and resolved on a timely basis. Auditor's Recommendation: We recommend the Center for Black Excellence and Culture, Inc. develop policies to allow for consistency in reporting as well as an understanding by management of how the financial statements are prepared. Some basic policies that should be included in the manual include: • Code of conduct and conflict of interest policy • Basis of accounting • Bank reconciliations • Documentation retention • Internal controls Lines of authority and/or segregation of duties Conflict of interest • Financial reporting (what reports need to be created and how often) • Revenue recognition Definitions for conditional and unconditional contributions Process for tracking conditional contributions and donor restrictions Timing of recognition of contribution and grant revenue Process for identifying uncollectible receivables and the accounting treatment • Expenses Purchases and procurement Invoice approval and processing Payroll • Year end closing procedures Financial information, such as bank reconciliations, journal entries, and financial statement balances, should be reviewed on a monthly basis by a member of the Board of Directors who can determine whether balances are reasonable. View of Responsible Officials: Management agrees with this finding and has prepared a corrective action plan.
2024-001 Accounting Policies and Financial Review Corrective Action Plan The Center for Black Excellence and Culture Inc has drafted an accounting policies and procedures document that will be reviewed and approved by the Board of Directors by December 31, 2025. Person(s) Responsible: Janine Stephens Hale, Chief Administrative Officer Timing for Implementation: No later than December 31, 2025.
During the audit we were unable to observe the Center for Black Excellence and Culture, Inc.'s documentation related to the procurement process. Criteria: Uniform Guidance 200.318(i) states the recipient must "maintain records sufficient to detail the history of each procurement transaction. These records must include the rationale for the procurement method, contract type selection, contractor selection or rejection, and the basis for the contract price." Effect: With the Center for Black Excellence and Culture, Inc.'s development in 2024, external monitoring sources may request documentation used to evaluate and select construction contractor. Failure to provide proper procurement documentation may result in noncompliance with applicable regulations. Auditor's Recommendation: We recommend the Center for Black Excellence and Culture, Inc. retain evidence in a location accessible to management to show the procurement requirements were met and support was obtained from a sufficient number of qualified sources. View of Responsible Officials: Management agrees with this finding and has prepared a corrective action plan.
Show full finding ▾Hide full finding ▴2024 002 Procurement Documentation Retention Federal program information: Funding Agency: U.S. Department of Housing and Urban Development Title: Economic Development Initiative, Community Project Funding, and Miscellaneous Grants AL Number: 14.251 Award year and number: 01/01/2024 12/31/2024 B 22 CP WI 0969 Questioned Costs: None Condition: During the audit we were unable to observe the Center for Black Excellence and Culture, Inc.'s documentation related to the procurement process. Criteria: Uniform Guidance 200.318(i) states the recipient must "maintain records sufficient to detail the history of each procurement transaction. These records must include the rationale for the procurement method, contract type selection, contractor selection or rejection, and the basis for the contract price." Effect: With the Center for Black Excellence and Culture, Inc.'s development in 2024, external monitoring sources may request documentation used to evaluate and select construction contractor. Failure to provide proper procurement documentation may result in noncompliance with applicable regulations. Auditor's Recommendation: We recommend the Center for Black Excellence and Culture, Inc. retain evidence in a location accessible to management to show the procurement requirements were met and support was obtained from a sufficient number of qualified sources. View of Responsible Officials: Management agrees with this finding and has prepared a corrective action plan.
2024-002 Procurement Documentation Retention Corrective Action Plan The Center for Black Excellence and Culture Inc will obtain procurement documentation for all vendors and keep for our records electronically in our shared google drive folders. We will have the board review and approve a criteria for RFP evaluation and a procurement policy. Person(s) Responsible: Jason Fields, Chief Operations Officer Timing for Implementation: No later than December 31, 2025
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