Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal financial assistance programs of Affordable Housing, Education and Development (AHEAD), Inc. and Subsidiaries (the Organization). The information in the Schedule is presented in accordance with 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 portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
The Home Investment Partnerships Program includes an outstanding capital advance of $1,102,109 at December 31, 2025.
The Organization’s consolidated financial statements include the operations of Beattie House, Inc. and Northern Lights Housing Corporation, which received $3,221,040 and $2,212,627, respectively, in federal pass-through awards, from unrelated organizations. These federal pass-through awards are not included in the Schedule for the year ended December 31, 2025 as the need for a Uniform Guidance audit was addressed as part of the respective stand-alone audits of those organizations' financial statements.