Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Easter Seals Serving DC | MD | VA, Inc. under programs of the federal government for the year ended August 31, 2023. 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). Because the Schedule presents only a selected portion of the operations of Easter Seals Serving DC | MD | VA, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of Easter Seals Serving DC | MD | VA, Inc.
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Loan balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Outstanding balances of government loans from federal sources at August 31, 2023 are as follows:
United States Department of Housing and Urban Development
Pass-through from D.C. Department of Housing and Community Development
Community Development Block Grant (CDBG Cluster) $ 325,839
Community Development Block Grant (CDBG Cluster) 990,627
Total government loans outstanding (CDBG – Entitlement Grants Cluster)
$ 1,316,466
Title: Reconciliation to revenue
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Such expenditures are recognized following the cost principles contained in OMB Circular A-122 “Cost Principles for Non-Profit Organizations” or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
A reconciliation of the Schedule to the Statement of Activities and Changes in Net Assets for the year ended August 31, 2023 is as follows:
Federal award expenditures $ 11,606,026
Less: Federal cost-reimbursement contract (777,454)
Employee retention tax credit 57,094
Total government grants
$ 10,885,666