Notes to SEFA
Accounting Policies: Contributions received are recorded as without donor or with donor restrictions, depending on the existence and/or nature of donors restriction. All contributions are considered to be without donor restrictions unless specifically restricted by the donor. All donor-restricted support is reported as an increase in net assets with donor restrictions, depending on the nature of the restriction. When a restriction expires, that is, when a stipulated time restriction ends or purpose restriction is accomplished, net assets with donor restrictions are reclassified to net assets without donor restrictions and reported in the statement of activities as net assets released from restrictions. The Organization uses the accrual basis of accounting to report federal awards expended. Federal, state, and other grants awards received for specific purpose are recognized as support to the extent of the related expenses incurred in compliance with the specific restrictions.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Instead, the Organization claims administrative costs based on actual transactions.