Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, but cash basis for subrecipient as required by the Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: IWPR has finalized rates through fiscal year 2021, and has been given provisional rates for fiscal year 2023. Based on the final approval rates through 2021, IWPR has updated all grants accordingly. As such, IWPR has elected to not use the 10% de minimis indirect rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Institute for War & Peace Reporting (US) (IWPR) 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 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 IWPR, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of IWPR.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, but cash basis for subrecipient as required by the Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: IWPR has finalized rates through fiscal year 2021, and has been given provisional rates for fiscal year 2023. Based on the final approval rates through 2021, IWPR has updated all grants accordingly. As such, IWPR has elected to not use the 10% de minimis indirect rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, but cash basis for subrecipient as required by the Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, but cash basis for subrecipient as required by the Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: IWPR has finalized rates through fiscal year 2021, and has been given provisional rates for fiscal year 2023. Based on the final approval rates through 2021, IWPR has updated all grants accordingly. As such, IWPR has elected to not use the 10% de minimis indirect rate as allowed under the Uniform Guidance.
IWPR has finalized rates through fiscal year 2021, and has been given provisional rates for fiscal year 2023. Based on the final approval rates through 2021, IWPR has updated all grants accordingly. As such, IWPR has elected to not use the 10% de minimis indirect rate as allowed under the Uniform Guidance.
Title: Reconciliation of Expenses
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, but cash basis for subrecipient as required by the Uniform Guidance. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: IWPR has finalized rates through fiscal year 2021, and has been given provisional rates for fiscal year 2023. Based on the final approval rates through 2021, IWPR has updated all grants accordingly. As such, IWPR has elected to not use the 10% de minimis indirect rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards is reconciled to the statement of activities for the year ended December 31, 2023, of IWPR as follows: