Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Beacon Interfaith Housing Collaborative (Beacon) under programs of the federal government for the year ended June 30, 2025. This schedule includes wholly owned entities, and excludes limited partnerships and nonprofit organizations that receive separate audited financial statements in accordance with either the Consolidated Audit Guide for Audits of HUD Programs (the “Guide”) issued by the U.S. Department of Housing and Urban Development, Office of the Inspector General or the Uniform Guidance, when applicable. 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 (the Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Federal expenditures for the Community Development Block/Entitlement Grants ($270,000), Coronavirus State and Local Fiscal Recovery Funds ($2,941,152), and Housing Trust Fund ($7,485,710) consist of $10,696,862 of new loans received during the year plus the balance at the beginning of the year of loans outstanding from previous years ($5,620,748) for which the grantor imposes continuing compliance requirements. The balance of the loans outstanding as of June 30, 2025 is $16,317,610.