The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Gilman Housing Trust, Inc. d/b/a RuralEdge and Subsidiaries (the Organization) under programs of the federal government for the year ended December 31, 2025. 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 portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
TThe Rural Rental Housing Loans and the HOME Investment Partnerships Program include outstanding loan balances of $437,255 and $2,063,641, respectively, as of December 31, 2025.
The Organization’s consolidated financial statements include the operations of The Meadows, a housing project of the Organization; Passumpsic View, Inc.; Gilman Housing Corporation; Groton Village Housing, Inc.; Derby Line Gardens, a housing project of the Organization; Rainbow Apartments, a housing project of the Organization; and Memphremagog Senior Citizen Housing, Inc., which expended $1,041,994, $2,181,956, $162,150, $68,605, $88,854, $1,215,083, and $161,270, respectively, in federal awards which are not included in the Organization’s Schedule for the year ended December 31, 2025 because the applicability of Schedule reporting under the Uniform Guidance was determined in conjunction with the respective stand-alone audits of theirfinancial statements.