Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Union Congregational Church Homes, Phase II, Inc., HUD Project No. 023-EH217, 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). Because the Schedule presents only a selected portion of the operations of Union Congregational Church Homes, Phase II, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Union Congregational Church Homes, Phase II, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, and the cost principles contained in the Uniform Guidance.
The Organization does not have a federally approved negotiated indirect cost rate agreement and, therefore, has elected to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Union Congregational Church Homes, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 221(d)(4) 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. Union Congregational Church Homes, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: See the Notes to the SEFA for chart/table.