Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Share XIV, Inc. (the “Project”), HUD Project No. 012-HD143 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 the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project.
The Project has a Capital Advance/Building Loan Agreement with HUD under Section 811 of the National Affordable Housing Act of $3,016,900. This amount is reflected as a grant when received in the Project’s financial statements and is therefore included in net assets.