Title: Note A-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 Uniform Guidance, Cost principles for Non- Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Direct and Indirect Expenditures — Expenditures presented in the schedule consist of direct and indirect costs. Direct costs are those that can be easily attributed to a federal award, such as the salary of a principal investigator. Indirect costs cannot be easily attributed to a federal award and relate to the cost of services and resources that benefit federal awards as well as non-federal activities of the Organization.
The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of the Trinity Church, Inc., under programs of the Federal Government for the year ended December 31, 2023. 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, Audits of States, Local Governments, and Non-Profit Organizations. Because this schedule presents only a selected portion of the operation of Trinity Church, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Trinity Church, Inc.
Title: Note B - 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 Uniform Guidance, Cost principles for Non- Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Direct and Indirect Expenditures — Expenditures presented in the schedule consist of direct and indirect costs. Direct costs are those that can be easily attributed to a federal award, such as the salary of a principal investigator. Indirect costs cannot be easily attributed to a federal award and relate to the cost of services and resources that benefit federal awards as well as non-federal activities of the Organization.
The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the 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 Uniform Guidance, Cost principles for Non- Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Direct and Indirect Expenditures — Expenditures presented in the schedule consist of direct and indirect costs. Direct costs are those that can be easily attributed to a federal award, such as the salary of a principal investigator. Indirect costs cannot be easily attributed to a federal award and relate to the cost of services and resources that benefit federal awards as well as non-federal activities of the Organization.
The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note C- Noncash Assistance and Federal Insurance
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 Uniform Guidance, Cost principles for Non- Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Direct and Indirect Expenditures — Expenditures presented in the schedule consist of direct and indirect costs. Direct costs are those that can be easily attributed to a federal award, such as the salary of a principal investigator. Indirect costs cannot be easily attributed to a federal award and relate to the cost of services and resources that benefit federal awards as well as non-federal activities of the Organization.
The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The organization has a policy that allows for the allocation of indirect costs such as salaries, employee benefits, occupancy, and other miscellaneous organizational costs relating to federal grants. The organization has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The organization did not receive any noncash federal awards, federal insurance, or loans or guarantees during the year ended December 31, 2023.