Notes to SEFA
In connection with the interest credit agreement with Rural Development, the Organization received nonmonetary rental assistance of $41,432 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) program in the accompanying schedule of expenditures of federal awards.
The outstanding balance of loans under the Rural Rental Housing Loans program (CDFA #10.415) in the accompanying schedule of expenditures of federal awards was $1,163,268, including $71,063 of deferred accrued interest.