Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant and loan activities of Chinatown Community Development Center and affiliate only and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The purpose of the Schedule is to present a summary of those activities of Chinatown Community Development Center and affiliate for the year ended December 31, 2025, which have been financed by the U.S. Government. For purposes of the Schedule, federal awards include all federal assistance entered into directly and indirectly between Chinatown Community Development Center and affiliate and the federal government. An affiliate of Chinatown Community Development Center for the purposes of this combined schedule of expenditures of federal awards is a limited liability company under the control of Chinatown Community Development Center’s board of directors that is not subject to a separate audit in accordance with the requirements of the Uniform Guidance. The federal expenditures awarded to the following affiliated entity is included in the combined schedule of expenditure of federal awards: (a) CCDC Throughline LLC $14,040,000
Chinatown Community Development Center and affiliate did not elect to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The loans outstanding at December 31, 2025 require continuous compliance with certain provisions of the loan agreements. The amount outstanding at December 31, 2025 is $20,767,931.
The grant of $1,396,500 was received in prior year and requires continuous compliance with the terms on the grant agreement. This grant is being amortized over 50-year compliance period.