Audit 23644

Title: Noncash Assistance Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared in accordance with 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). The purpose of the Schedule is to present a summary of those activities of Regenerative Research Foundation d/b/a The Neural Stem Cell Institute (Foundation) funded by the federal government or pass-through entities for the year ended December 31, 2022, using the accrual basis of accounting. For purposes of this Schedule, federal awards include assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Negative amounts, if any, on the Schedule represent adjustments made to prior year expenditures in the normal course of business. Federal award revenues are reported in the Foundations financial statements as federal grants. The Foundations financial statements are presented using the accrual basis of accounting. The Schedule presents only a selected portion of the activities of the Foundation. It is not intended to, and does not present, the financial position, activities, or other changes in net assets of the Foundation. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Foundation used its negotiated rate with the U.S. Department of Health and Human Service to charge indirect costs. There were no federal awards expended in the form of noncash assistance by the Foundation during the year ended December 31, 2022.