Audit 352791

Title: Basis of presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB Circular A-122, "Cost Principles for Non-Profit Organizations" and 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: B'nai B'rith III, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B'nai B'rith III, Inc., HUD Project No.: 023-EE-116, under programs of the federal government for the year ended December 31, 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of B'nai B'rith III, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of B'nai B'rith III, Inc. For the year ended December 31, 2024, no awards were passed through to subrecipients.

Title: U.S. Department of Housing and Urban Development loan program Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB Circular A-122, "Cost Principles for Non-Profit Organizations" and 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: B'nai B'rith III, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. B'nai B'rith III, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the period is included in the federal expenditures presented in the Schedule. B'nai B'rith III, Inc. received no additional capital advances during the year. The balance of the capital advance outstanding at December 31, 2024, consists of: Assistance Listing Number Program Name Outstanding Balance at December 31, 2024 14.157 Section 202 (Capital Advance) $ 4 ,088,100