Title: Basis of Presentation
Accounting Policies: 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). Because the Schedule presents only a selected portion of the operations of Redeemer Housing Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows for Redeemer Housing Association, Inc.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards of Redeemer Housing Association, 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). Because the Schedule presents only a selected portion of the operations of Redeemer Housing Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows for Redeemer Housing Association, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: 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). Because the Schedule presents only a selected portion of the operations of Redeemer Housing Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows for Redeemer Housing Association, Inc.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where as certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: 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). Because the Schedule presents only a selected portion of the operations of Redeemer Housing Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows for Redeemer Housing Association, Inc.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Loan Programs – Mortgage Insurance for Multifamily Housing Projects (Federal Assistance Listing Number 14.155)
Accounting Policies: 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). Because the Schedule presents only a selected portion of the operations of Redeemer Housing Association, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows for Redeemer Housing Association, Inc.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amount included on the accompanying schedule of expenditures equals the beginning balance of the loans as there were no new loans made or received during 2023. The outstanding loan balance at December 31, 2023 was $1,595,861.