EIN: 910941053
UEI: JGNFHK7ULLB2
Audited by: Eide Bailly LLP
Oversight agency: 84 [Department of Education]
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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 February 20, 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 August 20, 2026 (14 days ago).
What is a management decision? →The Foundation did not report the first-tier subawards funded at $30,000 or more in accordance with FFATA. Subaward Missing Transactions Subaward Report Amount Key Tested Not Reported Not Timely Incorrect Elements Quantity 15 15 N/A N/A N/A Subaward Missing Transactions Subaward Report Amount Key Tested Not Reported Not Timely Incorrect Elements Dollar Value $731,000 $731,000 N/A N/A N/A N/A – As none of the reports were submitted, these categories were not applicable and/or we were unable to test them. Cause: The Foundation did not have adequate internal controls to ensure that the FFATA reporting requirements were completed in accordance with the grant agreement. Effect: $731,000 of subawards that should have been reported in accordance with FFATA was not completed. Questioned Costs: None reported. Context/Sampling: No sampling was done as the FFATA reporting was not performed, the full population of first-tier subawards is shown above. Repeat Finding from Prior Year: No Recommendation: We recommend the Foundation enhance internal controls to ensure that the FFATA reporting requirements are met. Views of Responsible Officials: Management agrees with the finding.
Show full finding ▾Hide full finding ▴U.S. Department of the Education Fund for the Improvement of Postsecondary Education, 84,116Z Reporting Material Weakness in Internal Control over Compliance and Material Noncompliance Grant Year: FY 2022 Grant Award Number: P116Z220137 Criteria: The Federal Funding Accountability and Transparency Act (FFATA) explains that the grant award term is issued in accordance with 2 CFR Part 170 Reporting Subaward and Executive Compensation Information. This is designed to increase transparency and improve the public’s access to Federal government information. FFATA requires the grant recipients to report first-tier subawards made under Federal grants that are funded at $30,000 or more that meet the reporting conditions as set forth in this grant award term. Condition: The Foundation did not report the first-tier subawards funded at $30,000 or more in accordance with FFATA. Subaward Missing Transactions Subaward Report Amount Key Tested Not Reported Not Timely Incorrect Elements Quantity 15 15 N/A N/A N/A Subaward Missing Transactions Subaward Report Amount Key Tested Not Reported Not Timely Incorrect Elements Dollar Value $731,000 $731,000 N/A N/A N/A N/A – As none of the reports were submitted, these categories were not applicable and/or we were unable to test them. Cause: The Foundation did not have adequate internal controls to ensure that the FFATA reporting requirements were completed in accordance with the grant agreement. Effect: $731,000 of subawards that should have been reported in accordance with FFATA was not completed. Questioned Costs: None reported. Context/Sampling: No sampling was done as the FFATA reporting was not performed, the full population of first-tier subawards is shown above. Repeat Finding from Prior Year: No Recommendation: We recommend the Foundation enhance internal controls to ensure that the FFATA reporting requirements are met. Views of Responsible Officials: Management agrees with the finding.
Finding 2025-002 FFATA reporting Summary of Finding: The Foundation did not report the first-tier subawards funded at $30,000 or more in accordance with FFATA. Name of contact person responsible for corrective action: Jeff Lenberger, lnnovia Foundation Controller Corrective Action Plan: As of the audit report date lnnovia Foundation has notified the U.S. Department of Education regarding this reporting issue and is awaiting specific action steps to ensure appropriate reporting is completed. lnnovia Foundation is waiting to regain electronic access to the U.S. Department of Education reporting function through sam.gov since the grant period ended on August 31, 2025. As soon as specific guidance is provided from the U.S. Department of Education lnnovia Foundation will ensure prompt action is taken. Anticipated Completion Date of the Corrective Action: Immediately upon gaining access from the U.S. Department of Education lnnovia will report all required first-tier subawards .
FAC accepted this audit on January 23, 2025 — management decision was due July 23, 2025.
FAC accepted this audit on February 12, 2024 — management decision was due August 12, 2024.
FAC accepted this audit on January 19, 2022 — management decision was due July 19, 2022.
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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