Notes to SEFA
Title: U.S. DEPARTMENT OF AGRICULTURE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Interfaith Housing & Community Services, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the net assets, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimus indirect cost rate.
Interfaith Housing & Community Services, Inc. has received U.S. Department of Agriculture direct loans for Rural Housing. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the schedule. No additional loans were received during the year. The balances at December 31, 2023 are:
Federal Assistance Listing Number Program Name
Outstanding Balance at December 31, 2023
10.405 Farm Labor Housing Loans and Grants $355,151
10.415 Rural Rental Housing Loans 636,553