Notes to SEFA
Accounting Policies: 1. GENERAL INFORMATIONThe accompanying schedule of expenditures of federal, state, and county awards presents the activities inall the federal, state, and county awards of Interfaith Neighbors, Inc. (the Organization) for the year endedDecember 31, 2022. All financial assistance received directly from federal, state, and county agencies, aswell as financial assistance passed through governmental agencies or nonprofit organizations, is included onthe schedule.2. BASIS OF ACCOUNTINGFederal, state, and county expenditures are reported on the combined statement of activities and changes innet assets as program services and general and administrative. In certain programs, the expendituresreported in the combined financial statements may differ from the expenditures reported in the schedule ofexpenditures of federal, state, and county awards due to program expenditures exceeding grant or contractbudget limitations or capitalization policies required by accounting principles generally accepted in the UnitedStates of America, which are not included as federal, state, and county awards. The amounts reported in thisschedule as expenditures may differ from certain financial reports submitted to federal, state, county, andother funding agencies due to those reports being submitted on either a cash or modified accrual basis ofaccounting.3. INDIRECT COST RATEThe Organization has elected to receive the 10% de minimis indirect cost rate pursuant to Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards.4. NONCASH ASSISTANCEThe Organization did not receive any federal noncash assistance for the year ended December 31, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.