Title: 1
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal program activity of Logan
Square Elderly Housing Corporation 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 Requirement for Federal Awards.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
Logan Square Elderly Corporation was organized as a Not-For-Profit Corporation under the laws of the State of
Illinois to construct, hold, and operate an apartment complex (the Project). The Project consists of 48 units
located in Chicago, Illinois.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de minimums indirect cost rate as allowed in the Uniform
Guidance, Section 414.
The accompanying schedule of expenditures of federal awards includes the federal program activity of Logan
Square Elderly Housing Corporation 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 Requirement for Federal Awards.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
Logan Square Elderly Corporation was organized as a Not-For-Profit Corporation under the laws of the State of
Illinois to construct, hold, and operate an apartment complex (the Project). The Project consists of 48 units
located in Chicago, Illinois.
Title: 2
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal program activity of Logan
Square Elderly Housing Corporation 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 Requirement for Federal Awards.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
Logan Square Elderly Corporation was organized as a Not-For-Profit Corporation under the laws of the State of
Illinois to construct, hold, and operate an apartment complex (the Project). The Project consists of 48 units
located in Chicago, Illinois.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de minimums indirect cost rate as allowed in the Uniform
Guidance, Section 414.
As of December 31, 2024, the loan balance is $3,025,116. The loan balance is insured under HUD Section 207,
pursuant to Section 223(f).
Title: 3
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal program activity of Logan
Square Elderly Housing Corporation 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 Requirement for Federal Awards.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
Logan Square Elderly Corporation was organized as a Not-For-Profit Corporation under the laws of the State of
Illinois to construct, hold, and operate an apartment complex (the Project). The Project consists of 48 units
located in Chicago, Illinois.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de minimums indirect cost rate as allowed in the Uniform
Guidance, Section 414.
The Corporation has not elected to use the 10% de minimums indirect cost rate as allowed in the Uniform
Guidance, Section 414.