Notes to SEFA
Title: Matching
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal expenditures of Grameen America, Inc. ("Grameen") for the year ended December 31, 2023, and is prepared on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Organizations fiscal 2023 consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate as provided by §200.414 Indirect (“F&A”) Costs.
During the year ended December 31, 2023, the Organization matched $4,957,678 under the Community Development Financial Institutions Funds Equitable Recovery Program and $1,107,900 under the Community Deveopment Financial Institutions Program.