Notes to SEFA
The Organization received a U.S. Department of Housing and Urban Development mortgage insurance under Section 232 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the insured loans outstanding at December 31, 2024 was $16,973,797.
The Schedule includes the federal award activity of 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 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 or cash flows of the Organization.