Notes to SEFA
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 elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The capital advance loans are draws made by Anja House and Aquilla House to purchase property under capital advance agreements with the U.S. Department of Housing and Urban Development (HUD). The loans bear no interest and are not required to be repaid as long as the houses remain available for low income persons with disabilities for a period of 40 years.
The Organization has received loans funded by programs of the U.S. Department of Housing and Urban Development. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balances have been included in refundable advances at June 30, 2025, as the loans were recorded as liabilities in the year received. The Organization received no additional loans during the year ended June 30, 2025. The balance of the loans outstanding at June 30, 2025, are as follows: Assistance Listing Number: 14.181; Program Name: Supportive Housing for Persons with Disabilities; Outstanding Balance: $1,155,796. Assistance Listing Number: 20.513; Program Name: Enhanced Mobility Of Seniors And Individuals With Disabilities; Outstanding Balance: $989,753.