Title: Non-cash Assistance, Insurance, Loans and Loan Guarantees Outstanding
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Gateway Foundation, Inc. (Foundation) under programs of the federal government for the year ended June 30, 2022. The information in the 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Foundation did not receive any non-cash assistance during the year ended June 30, 2022. The Foundation did not have any federal insurance in effect during the year ended June 30, 2022, nor were there any loans or loan guarantees at year-end.
Title: Subrecipients
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Gateway Foundation, Inc. (Foundation) under programs of the federal government for the year ended June 30, 2022. The information in the 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
None of the Foundations federal awards expenditures were provided to subrecipients during the year ended June 30, 2022.
Title: Provider Relief Fund
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Gateway Foundation, Inc. (Foundation) under programs of the federal government for the year ended June 30, 2022. The information in the 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Foundation received amounts from U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution program (93.498) during the years ended June 30, 2021 and 2022. The Foundation recognized PRF revenue in its June 30, 2021 and 2022 consolidated financial statements of $1,690,350 and $1,705,767, respectively. In accordance with HHS guidance, the funding received in 2021 is included in the accompanying Schedule for the year ended June 30, 2022. Amounts received during 2022 will be included on future schedules of expenditures of federal awards in accordance with HHS guidance.