Notes to SEFA
Title: Awards to Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Addgene, Inc. under its programs of the federal government for the year ended December 31, 2023. Expenditures reported on the Schedule are reported on the accrual basis of accounting. The information in this financial statement is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations (CFR) 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 Addgene, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
De Minimis Rate Used: N
Rate Explanation: The Company has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance as it has a DHHS rate.
During the year ended December 31, 2023, The Regents of University of California, Davis, was a subrecipient for award U24NS119916 in the amount of $197,985.