Casa Nueva Vida

“James cote and alba alvarez core have a family relationship.”

“Form 990 is reviewed by financial consultant with preparer and provided to the board prior to submission.”

“The organizations's tax filings are available at the massachusetts attorney general's division for public charities website and upon request.”

“Bad debt expense -25,000.”

“After june 30, 2020, the commonwealth of massachusetts issued an investigative summons to the organization. As of the filing date, casa nueva vida understands that the investigations have concluded, with the former president and executive director having settled with the state of massachusetts. To the best of the organization's knowledge, the investigations involved related party transactions by and with the former president and executive director. The transactions in question span numerous years, including the fiscal year 2022. Related party transactions and potential related party transactions for the year ended june 30, 2022, known to the organization as of the filing date, are included in the related party disclosure section of this filing. A raw estimate that the potential impact on casa nueva vida for excess payments of lease properties ranges between $1m and $1.4m; there might be other financial damages not identified at the time of filing this report. Casa nueva vida has hired a new interim executive director and has updated and restructured its board of directors. A new audit firm has been engaged to ensure complete independence and avoid any conflict of interest for fiscal year june 30, 2021. This same audit firm was used for the fiscal year june 30, 2022. On november 5th, 2021, brandon garcia, it manager, informed senior management about the existence of a paypal account with casa nueva vida as a beneficiary. The website shows manuel duran, former president/ executive director as account owner. However, the payee on the tax forms 1099k tax (payment card and third-party network transactions) available on the site for the fiscal year 2019&2020 is casa nueva vida. The available balance as of january 10, 2022 amounts to $10,387.37. There are no accounting records in cnv's files to trace any transaction with paypal. We understand that the account wasn't reported on casa nueva vida's 990 forms in previous fiscal years. The all paypal funds were transferred to the citizens bank account in march of 2023. On april 22, 2022, brandon garcia, it manager, informed senior management about the existence of donor box, a system linked to casa nueva vida's website for the donors to deposit their contributions. The statement shows a gross donation balance of $31,795. The funds were collected through two fundraising campaigns: i) 30th anniversary and christmas party celebration. Ii) donations. We understand that the account wasn't reported on casa nueva vida's 990 forms in previous fiscal years. At the time of filing this report, casa nueva vida has accessed the paypal account funds and is in the process of attempting to reconcile donations to donor box account.”

“Casa nueva vida's contracts with its main donor, state of massachusetts, was revoked. The state of massachusetts granted the contract to heading home effective july 1, 2022. Casa nueva vida no longer has any relation to the homeless shelter activities.”

“A board member of the organization is the broker of record of the organization's 401(k) employee benefit plan. The board member's only compensation under this prior arrangement was a variable fee of .60% to .80% on all held assets of the organization's plan. All fees were paid directly to the board member's company by the organization's plan. As such, and as no fees were paid directly by the organization, there were no amounts recorded within these financial statements that were paid or owed to the board member.”