Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity for The Disability Fund, Inc. (d/b/a The Disability Opportunity Fund) (“DOF”) under programs of the federal government for the year ended December 31, 2025. 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 DOF, it is not intended to and does not present the financial position, changes in net assets or cash flows of DOF.
Home Investment Partnerships Program (Federal Assistance Listing Number 14.239) In 2025, DOF was awarded a $1,330,000 special purpose grant passed through Nassau County from the U.S. Department of Housing and Urban Development under the HOME Investment Partnerships Program, which supports affordable housing initiatives for local governments. Pursuant to the grant agreement with Nassau County, the funds were designated for the acquisition of the residential property located at 241 Shore Road (the “Property”), a three-unit dwelling intended to be rented to low-income individuals with disabilities. The Property is owned and operated by 241 Shore Road LLC, a related party to DOF (see Note 10). In May 2025, DOF advanced $1,327,700 to cover the closing and acquisition costs associated with the purchase of the Property. Because 241 Shore Road LLC holds legal title to the Property, DOF recorded the amount advanced as a due from related party on the accompanying statement of financial position. As of December 31, 2025, the balance due from related party was $1,327,700. In accordance with the agreement, Nassau County reimbursed DOF for the acquisition costs incurred. The grant is subject to a fifteen-year affordability period, during which DOF and 241 Shore Road LLC must comply with the program’s requirements. Accordingly, the funds received have been recorded as a refundable advance. Upon satisfaction of the affordability and other compliance requirements at the end of the fifteen-year period, the refundable advance will be recognized as income. As of December 31, 2025, the refundable advance totaled $1,327,700.