Notes to SEFA
In connection with the interest credit agreement with Rural Development, the Organization received nonmonetary rental assistance of $16,402 for the year ended December 31, 2025. This amount is included in the total expenditures of federal awards. For the Section 515 Rural Rental Housing Loans (CFDA No. 10.415) the total amount is $2,799 and for the Section 538 Rural Rental Housing Guaranteed Loan (CFDA No. 10.438) the total amount is $13,603.
As of December 31, 2025 outstanding loan balances under the Rural Rental Housing Loans program (CFDA No. 10.415) and included in the accompanying schedule of expenditures of federal awards was $786,309, including $46,368 of deferred accrued interest. In connection with the Section 538 loan, Rural Development guarantees 90% of the outstanding balance. As of December 31, 2025, Rural Development’s guarantee totaled $476,375.