Finding 1134541 (2024-001)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-04-29

AI Summary

  • Core Issue: The Corporation has not filed federal income tax returns for 2017-2023, jeopardizing its not-for-profit status.
  • Impacted Requirements: Non-compliance with HUD Regulatory Agreement terms due to failure to file tax returns.
  • Recommended Follow-up: Ensure timely filing of all tax returns and work towards reinstating not-for-profit status.

Finding Text

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Supportive Housing for the Elderly, Assistance Listing 14.157 (061-EE125 and 2008) Auditor non-compliance code: Z - Other Finding resolution status: In Process Universe population size: The universe population size is not applicable to the finding. Sample size information: The sample size information is not applicable to the finding. Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-001: The Corporation has not filed the 2017, 2018, 2019, 2020, 2021, 2022, or 2023 federal income tax returns. Criteria: HUD Section 202 Capital Advances are available to not-for-profit owners. Effect: The Corporation is not in compliance with the terms of the HUD Regulatory Agreement. As of December 31, 2024, the Corporation's status as a not-for-profit entity has been revoked. Cause: The Board of Directions failed to provide the information required to complete the tax returns on a timely basis. Recommendation: Tax returns should be filed on a timely basis and all delinquent tax returns should be filed as soon as possible. Completion Date: In Process Management's response: Agree. Management and the Board of Directors are taking steps to file the previous tax returns and have the Corporation's not-for-profit designation reinstated.

Categories

Subrecipient Monitoring HUD Housing Programs

Other Findings in this Audit

  • 558097 2024-001
    Significant Deficiency Repeat
  • 558098 2024-002
    Significant Deficiency Repeat
  • 558099 2024-001
    Significant Deficiency Repeat
  • 558100 2024-002
    Significant Deficiency Repeat
  • 1134539 2024-001
    Significant Deficiency Repeat
  • 1134540 2024-002
    Significant Deficiency Repeat
  • 1134542 2024-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $132,265