Notes to SEFA
The Organization, administers a revolving loan program that was funded in prior years through the U.S. Department of Housing and Urban Development Community Block Grant (Assistance Listing Number 14.218). The purpose of this program is to encourage public and private investment in the City of Cambridge’s low income housing through long-term, low interest loans. The amount included on the Schedule $2,643,424 includes the loan balances at the beginning of the period plus new loans issued during the fiscal year and any cash balance at December 31, 2025. The loan balances at December 31, 2025 were $2,155,212. No administrative expenses were allocated to this program during 2025.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Homeowner’s Rehab, Inc., (the Organization), 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 the Organization, it is not intended to and does not present the consolidated financial position, consolidated changes in net assets or consolidated statement of cash flows of the Organization.
There were no federal awards passed through to subrecipients by the Organization during 2025.