Audit 334589

Title: NOTE 1 – BASIS OF PRESENTATION Accounting Policies: NOTE 2 – SUMMARY OF SIGNIFICANT 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. St. Francis of Assisi Residences at Braintree II, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: St. Francis of Assisi Residences at Braintree II, Inc. 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 includes the federal award activity of St. Francis of Assisi Residences at Braintree II, Inc. (MHFA Project No. 00-291) under programs of the federal government for the year ended June 30, 2024. 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 St. Francis of Assisi Residences at Braintree II, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Francis of Assisi Residences at Braintree II, Inc. For the year ended June 30, 2024, no awards were passed through to subrecipients.

Title: NOTE 3 – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM Accounting Policies: NOTE 2 – SUMMARY OF SIGNIFICANT 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. St. Francis of Assisi Residences at Braintree II, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: St. Francis of Assisi Residences at Braintree II, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. St. Francis of Assisi Residences at Braintree II, 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 of the Housing Finance Agency Risk Share Program loan at June 30, 2023 was $2,265,493. 50% of the loan has been included on the SEFA to represent HUD’s 50% risk sharing obligation. St. Francis of Assisi Residences at Braintree II, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2024 consists of: Assistance Living Outstanding Balance at Number Program Name June 30, 2024 Housing Finance Agency 14.188 (HFA) Risk Sharing Program $ 2,225,248

Title: NOTE 4 – FINDING OF NONCOMPLIANCE Accounting Policies: NOTE 2 – SUMMARY OF SIGNIFICANT 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. St. Francis of Assisi Residences at Braintree II, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: St. Francis of Assisi Residences at Braintree II, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. There were no findings of noncompliance identified in connection with the Organization’s single audit for the year ended June 30, 2024.