Notes to SEFA
In connection with the interest credit agreement with Rural Development, the Organization received nonmonetary rental assistance of $10,777 in the form of an interest credit subsidy for the year ended December 31, 2024. This amount is included in the total expenditures for the Rural Rental Housing Loans (CFDA No. 10.415) in the accompanying schedule of expenditures of federal awards.
As of December 31, 2024 outstanding loan balances under the Rural Rental Housing Loans program (CFDA No. 10.415) and included in the accompanying schedule of expenditures of federal awards was $772,162, including $58,696 of deferred accrued interest.