Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization 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 (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 the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Sub-Recipients
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
There were no amounts provided to subrecipients from federal awards received during the year ended
September 30, 2023.
Title: Loan Details
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
The Microloan Program is administered directly by the Organization, and balances and transactions relating to these loans are included in the Organization’s basic financial statements. The balances of loans outstanding at September 30, 2023 consist of: AL# Grant Program Outstanding Balance at
Number Number Name September 30, 2023
59.046 6834935003 Microloans $175,100
59.046 9566385000 Microloans $618,056
59.046 3784737002 Microloans $829,072
59.046 5314708201 Microloans $1,128,921
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
The Organization has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.