Audit 356321

Title: NOTE A - 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Nonprofit Housing Preservation RA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Nonprofit Housing Preservation RA, 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 includes the federal award activity of Nonprofit Housing Preservation RA, Inc. and is presented on the accrual basis of accounting. 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 Nonprofit Housing Preservation RA, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Nonprofit Housing Preservation RA, Inc.

Title: NOTE C – 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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Nonprofit Housing Preservation RA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Nonprofit Housing Preservation RA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Nonprofit Housing Preservation RA, Inc. has received a U.S. Department of Housing and Urban Development insured loan under Section 223(f) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Nonprofit Housing Preservation RA, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists of: Federal Assistance Listing Number - 14.155; Program Name - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects; Outstanding Balance at December 31 2024 - $5260156