Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal and state grant activity of Isaiah House, Inc. under programs of the federal and state government for the year ended December 31, 2024, and is presented on the accrual basis of accounting. The information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and New Jersey (NJ) Circular Letter 15-08 OMB Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Because the Schedule presents only a selected portion of the operations of Isaiah House, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Isaiah House, Inc.
During the year ended December 31, 2024, the Organization did not provide any funds relating to their federal or state programs to subrecipients.
As of December 31, 2024 and 2023, $466,158 and $271,345, respectively was outstanding under a federal loan program. As of December 31, 2024 and 2023, $100,000 was outstanding under a state loan program. See Note 10 for further information on these loans.