Title: Sub-Recipients
Accounting Policies: The information in the accompanying schedule of expenditures of federal awards (the Schedule) of Community Housing Innovations, Inc. (CHI) has been prepared on the accrual basis of accounting. 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 CHI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CHI.
De Minimis Rate Used: N
Rate Explanation: Many of CHIs federal grants provide for specific allocations for administrative costs. Where administrative costs are not specifically limited by the funding source, CHI has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
During the year ended December 31, 2022, CHI had no sub-recipients.
Title: Federal Award Assistance
Accounting Policies: The information in the accompanying schedule of expenditures of federal awards (the Schedule) of Community Housing Innovations, Inc. (CHI) has been prepared on the accrual basis of accounting. 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 CHI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CHI.
De Minimis Rate Used: N
Rate Explanation: Many of CHIs federal grants provide for specific allocations for administrative costs. Where administrative costs are not specifically limited by the funding source, CHI has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
CHI has a contract with the United States Department of Housing and Urban Development, under its Housing Opportunities for Persons with AIDS (HOPWA) program to establish, maintain, and operate transitional housing for homeless low-income individuals and families with an AIDS diagnosis. Between 2012 and 2018, CHI received HOPWA funding to purchase and renovate two properties in Islip, New York. Pursuant to the respective grant agreements, the properties must be used for a period of at least ten years otherwise the grants must be repaid to HOPWA. Furthermore, if additional monies are received from HOPWA for additional renovations to these properties, the forgiveness term of these grants can be extended for three or ten years, depending on if such renovations are non-substantial or substantial, respectively. The grants are set to expire in 2023 and 2028 in the amounts of $680,505 and $781,206, respectively. At December 31, 2022, the outstanding balance of the forgivable HOPWA grants was $1,461,711. There were no expenditures of HOPWA funds during the year ended December 31, 2022. CHI has other contracts that are funded through the United States Department of Housing and Urban Development, all of which are passed through from different agencies, including Family Residences and Essential Enterprises, Westchester County, and Nassau County.