Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federalaward activity of Purple Mai?a Foundation (a not-for-profit organization; the Foundation) underprograms of the federal government for the year ended December 31, 2022. The information on thisSchedule is prepared in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operationsof the Foundation, it is not intended to and does not present the financial position, changes in netassets, or cash flows of the Foundation.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in OMB Circular A-122, CostPrinciples for Non-Profit Organizations (codified in 2 CFR Part 230) and Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards, wherein certain types of expenditures may or may not be allowable or may belimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: INDIRECT COST RATEThe Foundation does not have an indirect cost rate and did not have any indirect costs on grants asallowed under the Uniform Guidance.