Title: Basis of Presentation
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Lantern Organization, Inc. and Affiliates 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
Lantern Organization, Inc. and Affiliates, it is not intended to and does not present the consolidated financial position,
changes in net assets, or cash flows of Lantern Organization, Inc. and Affiliates.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Lantern Organization, Inc. and Affiliates 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
Lantern Organization, Inc. and Affiliates, it is not intended to and does not present the consolidated financial position,
changes in net assets, or cash flows of Lantern Organization, Inc. and Affiliates.
Title: Summary of Significant Accounting Policies
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Lantern Organization, Inc. and Affiliates 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
Lantern Organization, Inc. and Affiliates, it is not intended to and does not present the consolidated financial position,
changes in net assets, or cash flows of Lantern Organization, Inc. and Affiliates.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Lantern Organization, Inc. and Affiliates 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
Lantern Organization, Inc. and Affiliates, it is not intended to and does not present the consolidated financial position,
changes in net assets, or cash flows of Lantern Organization, Inc. and Affiliates.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Project did not provide any funds related to their federal awards to any subrecipients.
Title: Loan and Guarantee Programs
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Lantern Organization, Inc. and Affiliates 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
Lantern Organization, Inc. and Affiliates, it is not intended to and does not present the consolidated financial position,
changes in net assets, or cash flows of Lantern Organization, Inc. and Affiliates.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule are reported on the accrual basis of accounting. 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. Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Lantern Organization, Inc. and Affiliates has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
As of December 31, 2023, there were no outstanding loans due to federal government agencies.