Title: 1
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal Program activity of
Sacramento 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. Sacramento Elderly Housing Corporation was formed as a Not-For-Profit Corporation under the laws of the State
of Illinois for the purpose of constructing and operating an apartment complex (the Project). The Project consists
of 40 units located in Chicago, Illinois known as Rev. Daniel Alvarez Apartments.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimus 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
Sacramento 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. Sacramento Elderly Housing Corporation was formed as a Not-For-Profit Corporation under the laws of the State
of Illinois for the purpose of constructing and operating an apartment complex (the Project). The Project consists
of 40 units located in Chicago, Illinois known as Rev. Daniel Alvarez Apartments.
Title: 2
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal Program activity of
Sacramento 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. Sacramento Elderly Housing Corporation was formed as a Not-For-Profit Corporation under the laws of the State
of Illinois for the purpose of constructing and operating an apartment complex (the Project). The Project consists
of 40 units located in Chicago, Illinois known as Rev. Daniel Alvarez Apartments.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform
Guidance, Section 414.
As of December 31, 2024, the loan balance is $3,677,700. The loan does not have to be paid back under the
stipulation that the Corporation rents only to qualified tenants for 40 years as defined by HUD.
Title: 3
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal Program activity of
Sacramento 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. Sacramento Elderly Housing Corporation was formed as a Not-For-Profit Corporation under the laws of the State
of Illinois for the purpose of constructing and operating an apartment complex (the Project). The Project consists
of 40 units located in Chicago, Illinois known as Rev. Daniel Alvarez Apartments.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform
Guidance, Section 414.
The Corporation has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform
Guidance, Section 414.