A tar-based waterproofing material is sprayed on the foundation walls to reduce water infiltration. The basement is deep enough to allow for a semi-finished space if the owner of the house ever decides to do so. It will also be plumbed for eventual addition of a bathroom.

The yellow piece under the window is a fiber-based material designed to wick water away from below the window.

It looks like the waterproofing material was sprayed above the final grade line. If this ends up being the case, I may consider painting it to match the foundation.