Notes to SEFA
The accompanying schedule of federal awards ("schedule") includes the federal award and loan activity of the Organization 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"). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
For the year ended December 31, 2025, the Organization provided no funds to subrecipients.
The Organization holds a mortgage refinanced under Section 202 pursuant to Section 223(f) of the National Housing Act during fiscal year 2022. The mortgage balance outstanding at the beginning of the year was $3,096,178. The mortgage balance at December 31, 2024 was $3,055,201.