Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: In instances where an indirect cost rate is applied, the Society has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of The New-York Historical Society (the Society) under programs of the federal government for the
year ended June 30, 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 Society, it is not intended to and does not present
the financial position, changes in net assets, or cash flows of the Society.
Title: Summary of Significant Accounting Policies
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: In instances where an indirect cost rate is applied, the Society has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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. In instances where an indirect cost rate
is applied, the Society has elected to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. The Society did not pass-through any Federal awards to sub-recipients during the year
ended June 30, 2023.
Title: National Endowment for the Humanities - Challenge Grants
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: In instances where an indirect cost rate is applied, the Society has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Society received a grant for $525,954 in March 2009, of which $158,977 has been designated as
restricted in perpetuity and included as part of the endowment fund created by the grant. In addition, the
Society received a grant for an educational endowment of $620,000, which has been received and has
been designated as restricted in perpetuity. These amounts are included on the accompanying schedule of
expenditures of federal awards as “Institute for Constitutional Studies” and “Renovation Project and
American History Education Program,” respectively, and will be reported each year.