EIN: 931189853
UEI: Z2H1LQJDDJK7
Audited by: McDonald Jacobs PC
Oversight agency: 14 [Department of Housing and Urban Development]
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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 May 12, 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 November 12, 2026 (69 days from today).
What is a management decision? →The replacement reserve account was underfunded by $2,249 at December 31, 2025. Context: Management did not increase monthly deposit amount from $2,239 to $2,367 effective August 1, 2025, as required. In addition, the Project was underfunded by $12,279 at December 31, 2024, of which only $10,670 was deposited during 2025. Cause: The underfunding partially resulted from an oversight by management in updating the required monthly deposit amount effective August 1, 2025. Additionally, the Project was unable to fully fund the required catch‑up deposits due to cash flow constraints. Effect: The Project was not in compliance with the HUD Regulatory Agreement related to replacement reserve funding requirements. Questioned Costs: None Recommendation: We recommend that management update the monthly replacement reserve deposit to $2,367 in accordance with the HUD Regulatory Agreement and make the remaining catch‑up deposit of $2,249 as soon as feasible. Management’s Response: Management agrees with the recommendation.
Show full finding ▾Hide full finding ▴Finding # 2025-001 Type: Noncompliance Assisting Listing Number: 14.186 Federal Agency: U.S. Department of Housing and Urban Development (HUD) Name of Federal Program: Low-Income Housing Preservation and Resident Homeownership Act (LIHPRHA) Requirement: The HUD Regulatory Agreement requires the Project to make monthly deposits to the replacement reserve of $2,249 through July 31, 2025. Effective August 1, 2025, the required monthly deposit increased to $2,367, as provided in HUD‑9520. Condition: The replacement reserve account was underfunded by $2,249 at December 31, 2025. Context: Management did not increase monthly deposit amount from $2,239 to $2,367 effective August 1, 2025, as required. In addition, the Project was underfunded by $12,279 at December 31, 2024, of which only $10,670 was deposited during 2025. Cause: The underfunding partially resulted from an oversight by management in updating the required monthly deposit amount effective August 1, 2025. Additionally, the Project was unable to fully fund the required catch‑up deposits due to cash flow constraints. Effect: The Project was not in compliance with the HUD Regulatory Agreement related to replacement reserve funding requirements. Questioned Costs: None Recommendation: We recommend that management update the monthly replacement reserve deposit to $2,367 in accordance with the HUD Regulatory Agreement and make the remaining catch‑up deposit of $2,249 as soon as feasible. Management’s Response: Management agrees with the recommendation.
Finding # 2025-001 Type: Noncompliance Assisting Listing Number: 14.186 Federal Agency: U.S. Department of Housing and Urban Development (HUD) Name of Federal Program: Low-Income Housing Preservation and Resident Homeownership Act (LIHPRHA) Corrective Action: Management will update the monthly replacement reserve deposit to $2,367 in accordance with the HUD Regulatory Agreement and make the remaining catch‑up deposit of $2,249 as soon as feasible. Anticipated Completion Date: June 30, 2026
2024-001
FAC accepted this audit on May 29, 2025 — management decision was due November 29, 2025.
S3800-150 - Response: I agree with Management’s response
Show full finding ▾Hide full finding ▴S3800-150 - Response: I agree with Management’s response
We agree with finding 2024-001 and will resolve the $12,279 shortage in the replacement reserve bank account with our HUD representative.
FAC accepted this audit on April 30, 2024 — management decision was due October 30, 2024.
FAC accepted this audit on May 17, 2023 — management decision was due November 17, 2023.
FAC accepted this audit on June 1, 2022 — management decision was due December 1, 2022.
FAC accepted this audit on April 26, 2021 — management decision was due October 26, 2021.
FAC accepted this audit on April 20, 2020 — management decision was due October 20, 2020.
FAC accepted this audit on April 17, 2019 — management decision was due October 17, 2019.
FAC accepted this audit on April 18, 2018 — management decision was due October 18, 2018.
FAC accepted this audit on April 9, 2017 — management decision was due October 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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