Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of Neighbor to Neighbor, Inc. and its Subsidiaries (the Organization) for the year ended December 31, 2024. 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 (the Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note 2 to the consolidated financial statements. 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.
The Organization has elected to use the 15% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
As of December 31, 2025, loan amounts drawn under the Community Development Block Grants program totaled $208,504. The funds were used to rehabilitate that property, and the loan is deferred until the sale of the property.