Notes to SEFA
McSherrystown Interfaith Housing Corporation has received a U.S. Department of Housing and Urban Development direct loan. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. McSherrystown Interfaith Housing Corporation received no additional loans during the year. The balance of the loan outstanding at September 30, 2025 is $2,908,562, which consists of Mortgage Insurance Rental Housing ALN # 14.134. CALCULATION OF 40% RULE: TOTAL FEDERAL EXPENDITURES PER SCHEDULE WERE $3,755,395. MAJOR PROGRAM: MORTGAGE INSURANCE_RENTAL HOUSING (14.134) TOTAL EXPENDED $2,985,021. (79% OF TOTAL FEDERAL EXPENDITURES).