Title: Note A - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International
Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from
amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International
Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from
amounts presented in, or used in the preparation of the basic consolidated financial statements.
Title: Note B - Catalog of Federal Domestic Assistance (CFDA) Numbers
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International
Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from
amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Some of the Federal awarding agencies have not issued CFDA numbers; therefore, the OMB Clearinghouse
numbering conventions were utilized. Contracts having a common grant purpose and from the same agency were
aggregated and classified as one program.
Title: Note C - Reconciliation of Schedule of Expenditures of Federal Awards to the Statement of Activities
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International
Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from
amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal grant revenue as shown on the statement of activities $ 139,781,123
Less: Federal expenditures of subsidiary not subject to single audit (647,216)
Total 2023 expenditures on the schedule of expenditures of Federal awards $ 139,133,907
Title: Note D - Indirect Cost Rates
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International
Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from
amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.