Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10% de minimis indirect cost rate under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Foundation under programs of the federal government for the year ended September 30, 2023. 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). Because the Schedule\ presents only a selected portion of the Foundation’s operations, it is not intended to be and does not present the financial position, changes in net position, or cash flows of the Foundation.
Title: SUBRECIPIENTS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10% de minimis indirect cost rate under the Uniform Guidance.
There were no subrecipients of the Foundation’s programs during the year ended September 30, 2023.
Title: PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10% de minimis indirect cost rate under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Foundation’s portion, may be more than shown.
Title: NONCASH AWARDS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10% de minimis indirect cost rate under the Uniform Guidance.
No noncash awards existed in the current year.