Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of 419 Walnut, Inc. (HUD Project No.: 023-EE235) under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 PU.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of 419 Walnut, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of 419 Walnut, Inc. For the year ended December 31, 2024, no awards were passed through to subrecipients.
419 Walnut, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act and a HOME Investment Partnerships Program ("HOME loan") loan. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of the loan outstanding at December 31, 2024 consists of Federal Assistance Listing Number 14.157; Program Name - Supportive Housing for the Elderly (Section 202); Outstanding Balance $5,688,600. The balance of the loan outstanding at December 31, 2024 consists of Federal Assistance Listing Number 14.239; Program Name - HOME Investment Partnerships Program; Outstanding Balance $984,210.