Notes to SEFA
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting used by the Organization to report to the federal government. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Differences between amounts included in the Schedule and amounts reported to funding agencies for these programs result from report timing.
The Organization obtained a mortgage guarantee from HUD. The outstanding balance of this mortgage at December 31, 2025 was $9,273,729.