Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Through the Looking Glass under programs of the federal government
for the year ended June 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 operations of the Association, it is not
intended to and does not present the financial position, changes in net assets or cash flows
of the Association.
De Minimis Rate Used: N
Rate Explanation: Through the Looking Glass has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Through the Looking Glass under programs of the federal government
for the year ended June 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 operations of the Association, it is not
intended to and does not present the financial position, changes in net assets or cash flows
of the Association.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Through the Looking Glass under programs of the federal government
for the year ended June 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 operations of the Association, it is not
intended to and does not present the financial position, changes in net assets or cash flows
of the Association.
De Minimis Rate Used: N
Rate Explanation: Through the Looking Glass has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported based on allowable expenditures incurred and paid during the period. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable in accordance to specific requirements per EHS
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Through the Looking Glass under programs of the federal government
for the year ended June 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 operations of the Association, it is not
intended to and does not present the financial position, changes in net assets or cash flows
of the Association.
De Minimis Rate Used: N
Rate Explanation: Through the Looking Glass has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Through the Looking Glass has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.