The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Harborlight Community Partners, Inc., 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 U.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 Harborlight Community Partners, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Harborlight Community Partners, Inc.
RURAL RENTAL HOUSING LOANS (10.415) Harborlight Community Partners, Inc. and Subsidiaries have received a Rural Development loan under Section 515 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. Harborlight Community Partners, Inc. and Subsidiaries received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists of $3,278,576.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) Harborlight Community Partners, Inc. and Subsidiaries have received the following loans under the Home Investment Partnerships Program from the federal agency U.S. Department of Housing and Urban Development passed through the North Shore HOME Consortium and the Town of Rockport. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures in the Schedule. The balance of the loan outstanding at December 31, 2024 consists of $706,864. During the year ended December 31, 2024, debt in the aggregate amount of $165,000 under this loan program was discharged.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Harborlight Community Partners, Inc. and Subsidiaries have received the following loan under the Community Development Block Grants/Entitlement Grants loan program from the federal agency U.S. Department of Housing and Urban Development passed through the City of Beverly. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures in the Schedule. The balance of the loan outstanding at December 31, 2024 consists of $100,000. There were no expenditures or receipts on the loans during the year ended December 31, 2024.
Harborlight Community Partners, Inc. and Subsidiaries have received an American Rescue Plan Act (ARPA) loan under Section 9901 of the American Rescue Plan Act from the federal agency U.S. Department of the Treasury passed through the City of Lynn. During 2024, loan balances of $250,000 was received. The balance of the loan outstanding at December 31, 2024 was $250,000.