Title: Note 1 - Basis of Presentation:
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NeighborWorks Community Partners and Affiliates has not yet elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All costs are directly allocated.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of NeighborWorks Community Partners and Affiliates 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 NeighborWorks Community Partners and Affiliates, it is not intended to and does not present the financial position, change in net assets, or cash flows of NeighborWorks Community Partners and Affiliates.
Title: Note 3 - Principles of Consolidation:
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NeighborWorks Community Partners and Affiliates has not yet elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All costs are directly allocated.
The schedule of expenditures of federal awards include the following organizations:
Upstate New York Community Partners, Inc., doing business as NeighborWorks® Community Partners - a not-for-profit corporation, which coordinates all program and administrative activities of the combined and consolidated entity.
Neighborhood Housing Services of Rochester, Inc. doing business as NeighborWorks® Community Partners Rochester - a non-profit corporation that was formed to provide housing-related financial, educational and technical services, and resources that revitalize and sustain Rochester city neighborhoods. These services and resources are provided to a wide spectrum of the community in cooperation with residents and other partners.
Niagara Falls Neighborhood Housing Services, Inc. doing business as NeighborWorks® Community Partners Niagara Falls - a non-profit corporation established to aid in the preservation and stabilization of economic and aesthetic conditions in commercial and residential properties within the City of Niagara Falls, New York, through assistance to business people and homeowners. The Organization provides grants of business and home improvement loans, counseling with respect to business and home improvement, housing and health codes, studies of commercial revitalization possibilities, and administrative and program development supporting services.
Black Rock-Riverside Neighborhood Housing Services, Inc. doing business as NeighborWorks® Community Partners Buffalo - a non-profit corporation, that was established to provide human service and housing programs to residents of the surrounding community in Buffalo, NY.
West Side Neighborhood Housing Services, Inc. doing business as NeighborWorks® Community Partners Buffalo - a non-profit corporation that was formed to provide housing-related financial, educational and technical services, and resources that revitalize and sustain Buffalo city neighborhoods. These services and resources are provided to a wide spectrum of the community in cooperation with residents and other partners. The Organization collaborates with the various funding sources, including NeighborWorks America, the City of Buffalo, New York State, commercial lenders, insurance representatives, and area residents who realize that only a concerted effort can ensure the future of the surrounding neighborhood.
White's Livery Housing Development Fund Company, Inc. - a not-for-profit corporation and wholly owned affiliate of West Side Neighborhood Housing Services, was organized for the purpose of operating a 14 unit apartment building in Buffalo, NY. Operations commenced in March 2014. Rental units are designated for tenants who are low income, with three units for visual or hearing impaired.
Title: Note 4 - HUD-Insured Mortgages:
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NeighborWorks Community Partners and Affiliates has not yet elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All costs are directly allocated.
The HUD insured mortgages listed on the Schedule, administered directly by NeighborWorks Community Partners and Affiliates, and the balances and transactions relating to these programs are included in NeighborWorks Community Partners and Affiliates' basic financial statements. The loan amounts outstanding at the beginning of the year are included in the federal expenditures presented in the schedule. The balance of the loans outstanding at the end of the year were not different, as no re-payments are required.