Notes to SEFA
Title: SECTION 220 PRESERVATION GRANT
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 OMB Circular A-122 and Uniform Guidance.
The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
At December 31, 2024, Ridgeway Village Associates, Inc. had the following Section 220 preservation grant which is presented within the net assets with donor restrictions. The preservation grant is also
included in the federal expenditures presented.
Program or Cluster Title - Section 220 Preservation Grant; Federal ALN Number - 14.XXX; Amount Outstanding - $1,084,473
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 contained in the OMB Circular A-122 and Uniform Guidance.
The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Ridgeway Village Associates, Inc. (the Corporation) under programs of 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operation of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
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 contained in the OMB Circular A-122 and Uniform Guidance.
The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB Circular A-122 and Uniform Guidance.
The Corporation elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.