Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information on 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
The Organization did not elect to use the 10-percent de minimis indirect cost rate.
During the year ended June 30, 2025, the Organization had no sub-recipients.
The Organization has received a loan funded by programs of U.S. Department of Housing and Urban Development. The loan is included in the federal expenditures presented in the schedule of expenditures of federal awards at the balance as of July 1, 2024. The balance of the loan outstanding at June 30, 2025 is $3,688,090.