Audit 365400

Title: Subrecipients Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Well Community Development Corporation and Affiliates (the Organization) 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of the Organization. Basis of Accounting - 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. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the de minimis rate of 10% for the year ended December 31, 2024. The Organization did not provide federal awards to subrecipients during the year ended December 31, 2024.

Title: NON-CASH ASSISTANCE, LOANS OUTSTANDING, AND INSURANCE Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Well Community Development Corporation and Affiliates (the Organization) 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of the Organization. Basis of Accounting - 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. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the de minimis rate of 10% for the year ended December 31, 2024. The Organization did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended December 31, 2024.