Notes to SEFA
Title: Capital Advances Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of JPNDC and Affiliates 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
JPNDC and Affiliates' consolidated financial statements include the operations of certain limited partnerships and limited liability corporations, the Federal programs of which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2024, since for-profit companies are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: JPNDC and Affiliates have elected not to use the 10% de minimis cost rate for its Federal programs.
JPNDC and Affiliates have received two U.S. Department of Housing and Urban Development direct loans under Section 202 of the National Affordable Housing Act. Balances and transactions relating to this program are included in net assets without donor restrictions in JPNDC and Affiliates' consolidated financial statements. The Supportive Housing for the Elderly expenditures listed above includes of loan balances totaling $11,193,100 as of December 31, 2024.