Notes to SEFA
The accompanying Schedule is presented using the accrual basis of accounting.
The Corporation has a 0% mortgage note payable insured by the U.S. Department of Housing and Urban Development (HUD) in the amount of $5,829,600, at December 31, 2025 and 2024. The Note is payable on March 1, 2042. The Note is secured by substantially all real property of the Corporation. This Loan is included in the schedule of expenditures of federal awards.