Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Exceptional Children's Foundation and Affiliates (“ECF”). 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"). Because the Schedule presents only a selected portion of the operations of ECF, it is intended to and does not present the financial position, changes in net assets, or cash flows of ECF.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has not elected to use the de minimis indirect cost rate allowed under the Uniform Guidance during the year. Pass-through entity identifying numbers are presented where available and applicable.
The federal awards reported on the Schedule for Supportive Housing for the Elderly (and Disabled) - Direct Loans (ALN 14.157) are the July 1, 2024, balances. The loan balances reported on the June 30, 2025, consolidated statement of financial position are as follows: Valverde, Inc. $51,352 ERAS House II $404,900 Total balance of $456,252