Notes to SEFA
Title: Federal Loans
Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by the Organization that are
reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this
schedule, only the portion of program expenditures reimbursable with such federal or state funds are reported in the accompanying
schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program
expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized
in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions
incurred under the federal program. The Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or
results of operations of the Organization.
De Minimis Rate Used: N
Rate Explanation: N/A
Boatwright Homes, Inc. participates in housing programs where funds have been provided by Federal agencies as loans reported as
capital advances in the net assets. Outstanding balances for these loans were as follows: Federal Grantor ALN(s) 12/31/23 Net Change 12/31/24
U.S. Department of Housing & Urban Development
Capital Advance upportive Housing for the Elderly (Section 202) 14.157 $ 1,809,000 $ ‐ $ 1,809,000
Total Federal Loan Balance $ 1,809,000 $ ‐ $ 1,809,000