Title: Note 1 - Basis Of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of HomeSight 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 (Uniform
Guidance). Because the schedule presents only a selected portion of the operations of HomeSight, it is not
intended to and does not present the financial position, changes in net assets or cash flows of HomeSight.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized nonprofit following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: HomeSight has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of HomeSight 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 (Uniform
Guidance). Because the schedule presents only a selected portion of the operations of HomeSight, it is not
intended to and does not present the financial position, changes in net assets or cash flows of HomeSight.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of HomeSight 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 (Uniform
Guidance). Because the schedule presents only a selected portion of the operations of HomeSight, it is not
intended to and does not present the financial position, changes in net assets or cash flows of HomeSight.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized nonprofit following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: HomeSight has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized nonprofit following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
Title: Note 3 - Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of HomeSight 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 (Uniform
Guidance). Because the schedule presents only a selected portion of the operations of HomeSight, it is not
intended to and does not present the financial position, changes in net assets or cash flows of HomeSight.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized nonprofit following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: HomeSight has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
HomeSight had the following loans outstanding at December 31, 2024:
Federal Outstanding
CFDA Loan
Federal Grantor/Pass-Through Grantor/Program or Cluster Title Number Balance
Department of Housing and Urban Development:
Passed Through King County-
Home Investment Partnerships Program 14.239 $ 816,940
The loan has been outstanding since 2003 and there were no loans made during the current year.
Title: Note 4 - Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of HomeSight 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 (Uniform
Guidance). Because the schedule presents only a selected portion of the operations of HomeSight, it is not
intended to and does not present the financial position, changes in net assets or cash flows of HomeSight.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized nonprofit following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are
presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: HomeSight has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
HomeSight has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.