Title: NOTE 4: NONMONETARY ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of HeartLands Conservancy, Illinois 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 for Federal Awards Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the client, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the client. Federal awards passed through other governmental agencies are included in the schedule. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: HeartLands Conservancy has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Heartlands has a federally negotiated cost rate of 19.71 percent.
No federal nonmonetary assistance was granted to HeartLands Conservancy in the fiscal year.
Title: NOTE 5: INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of HeartLands Conservancy, Illinois 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 for Federal Awards Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the client, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the client. Federal awards passed through other governmental agencies are included in the schedule. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: HeartLands Conservancy has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Heartlands has a federally negotiated cost rate of 19.71 percent.
Heartlands purchases commercial general liability, workers' compensation and property insurance to cover all risks. HeartLands does not have any insurance provided by federal
sources.
Title: NOTE 6: LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of HeartLands Conservancy, Illinois 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 for Federal Awards Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the client, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the client. Federal awards passed through other governmental agencies are included in the schedule. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: HeartLands Conservancy has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Heartlands has a federally negotiated cost rate of 19.71 percent.
The nonprofit has no federal loans or loan guarantees outstanding as of December 31, 2023.
Title: NOTE 7: PAYMENTS TO SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of HeartLands Conservancy, Illinois 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 for Federal Awards Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the client, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the client. Federal awards passed through other governmental agencies are included in the schedule. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: HeartLands Conservancy has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Heartlands has a federally negotiated cost rate of 19.71 percent.
HeartLands Conservancy passes federal funds through to two subrecipients in the fiscal year. See the Notes to the SEFA for chart/table.