Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Emerge Community Development (EMERGE) and subsidiaries 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of EMERGE, it is not intended to and does not present the financial position, changes in net assets, or cash flows of EMERGE and its subsidiaries.