Notes to SEFA
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: Basis of Presentation - This schedule includes the activity of Pelican Educational Foundation, Inc. (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Administraitve Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
Federal award revenues are reported in the Foundation's basic financial statements reconcile to federal award expenditures as follows: (See table in report.) Reconciliation of federal awards revenue on the statement of activities as follows: (See table in report.)
Title: LOAN
Accounting Policies: Basis of Presentation - This schedule includes the activity of Pelican Educational Foundation, Inc. (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Administraitve Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation did not expend federal awards related to loans or loan guarantees during the year.
Title: FEDERALLY FUNDED INSURANCE
Accounting Policies: Basis of Presentation - This schedule includes the activity of Pelican Educational Foundation, Inc. (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Administraitve Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation has no federally funded insurance.
Title: NONCASH ASSISTANCE
Accounting Policies: Basis of Presentation - This schedule includes the activity of Pelican Educational Foundation, Inc. (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Administraitve Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation received federal noncash assistance for the fiscal year ended June 30, 2023 for USDA donated commodities in the amount of $12,235.