Title: 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 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: No indirect costs are allocated, therefore, no indirect cost rate is needed.
The accompanying schedule of expenditures of federal awards (The "Schedule") includes the federal award
activity of Eventide Senior Housing, Inc., HUD Project Number 074-EH095-WAH L8, and is presented 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 Eventide Senior Housing, Inc., it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Eventide Senior Housing, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles 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: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Title: Passed Through to Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles 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: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Eventide Senior Housing, Inc. does not have grants passed through to subrecipients.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles 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: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Eventide Senior Housing, Inc. has received a U.S. Department of Housing and Urban Development direct loan
under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the audit period
is included in the federal expenditures presented in the Schedule. Eventide Senior Housing, Inc. received no
additional loans during the audit period. The following loan balances were outstanding at June 30, 2024:
Assistance
Listing Amount
Number Outstanding
Section 202 Direct Loan 14.157 $1,041,703