Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activities of Homeless Emergency Project, Inc. d/b/a Homeless Empowerment Program (HEP). The information in the 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). Because the schedule presents only a selected portion of the operations of HEP, it is intended to and does not present the statements of financial position, activities and changes in net assets, functional expense or cash flows of HEP. Expenditures represent: 1) allowable costs, determined in accordance with federal cost principles, for cost-reimbursement contracts; and 2) allowable billings for fixed-fee and units of service contracts. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
HEP did not elect to use the 10 percent de minimis indirect cost rate for grant agreements entered into prior to October 1, 2024, nor the 15 percent de minimis indirect cost rate for grant agreements, where applicable, entered into after October 1, 2024.
HEP had the following loan balances at December 31, 2025