Title: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The accompanying schedule summarizes the federal expenditures of the Foundation under programs of the federal government for the year ended December 31, 2022. The amount reported as federal expenditures were obtained from the Foundation’s general ledger. Because the schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the net assets, changes in net assets and cash flows of the Foundation. For purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards for purposes of the schedule. The Foundation has obtained Assistance Listing Numbers (ALN) to ensure that all programs have been identified in the Schedule. ALN have been appropriately listed by applicable programs. Federal programs with different ALNs that are closely related because they share common compliance requirements are defined as a cluster by the Uniform Guidance. There were no clusters identified.
Title: Relationship of the Schedule to program Financial Reports
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agency and the schedule may differ. Some of the factors that may account for any difference include the following: The Foundation's fiscal year end may differ from the program's Uear end.
Title: Federal Pass-Through Funds
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Foundation is the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds.
Title: Contingencies
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
Grant monies received and disbursed by the Foundation are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Foundation does not believe that such disallowance, if any, would have a material effect on the net assets of the Foundation. As of December 31, 2022, there were no known material questioned or disallowed costs as a result of grant audits in process or completed.
Title: Noncash Assistance
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Foundation did not receive any federal noncash assistance for the fiscal year ended December 31, 2022.
Title: Subrecipients
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Foundation did not provide federal funds to subrecipients for the fiscal year ended December 31, 2022.
Title: Loans and Loan Guarantees
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Foundation did not have any loans or loan guarantee programs required to be reported on the schedule for the year ended December 31, 2022.
Title: Federally Funded Insurance
Accounting Policies: The schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Kellin Foundation (the Foundation), and is presented on the modified cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presents in, or used in the presentation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Foundation did not have any federally funded insurance required to be reported on the schedule for the fiscal year ended December 31, 2022.