Audit 349928

Title: Supportive Housing for Persons With Disabilities Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Jack & Virginia Wright Apartments Foundation 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 Jack & Virginia Wright Apartments Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of Jack & Virginia Wright Apartments Foundation. Expenditures reported on the Schedule are reported on the full 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: The foundation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The amount above for "Supportive Housing for Person with Disabilities" represents the full balance of the capital advance subject to this federal program and not expenditures incurred for the year ended June 30, 2024.