Notes to SEFA
The Organization has received a U.S. Department of Housing and Urban Development (“HUD”) direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Organization received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: AL Number Program Name Outstanding Balance at December 31, 2025 14.157 Supportive Housing for the Elderly Section 202 direct loan $ 1,375,400