Title: Basis of Presentation
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of The Disability Fund, Inc. and Subsidiaries (d/b/a The Disability Opportunity Fund), (“the Organization”) under programs of the federal government for the year ended December 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Significant Accounting Policy
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
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.
Title: Indirect cost rate
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
The Organization has used the funding strictly for loans, as such no overhead costs were charge against this grant for the year ended December 31, 2023.
Title: Federal Award Assistance
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
The Organization receives federal funding from the Community Development Financial Institutions Fund (“CDFI Fund”) which is part of the United States Department of Treasury. Through the CDFI Program, the CDFI Fund provides two types of monetary awards to CDFIs-Financial Assistance (FA) Awards and Technical Assistance (TA) Awards. In order to be eligible to apply for assistance, entities must meet, or propose to meet, specific CDFI eligibility criteria (12 CFR sections 1805.200 and 1805.201). CDFIs include, among others, entities such as banks, credit unions, depository institution holding companies, loan funds, and venture capital funds. The costs incurred to operate this program were fully funded by the United States Department of Treasury.
Title: Subrecipients
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
During the year ended December 31, 2023, the Organization had no sub-recipients.
Title: Noncash assistance and other
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: No indirect costs incurred
The Organization did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended December 31, 2023.