Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 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. The Foundation has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
Federal award activity of the Foundation under programs of the United States Government for the
year ended December 31, 2023. Information on the 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).
The Schedule presents only a selected portion of the operations of the Foundation; accordingly, it
is not intended to and does not present the financial position, changes in net assets or cash flows
of the Foundation.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 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. The Foundation has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures 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. 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. The Foundation has elected to use the de
minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 3. Revenue Reconciliation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 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. The Foundation has elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation for Federal grant revenue to unrestricted grants revenue included
in the Statement of Activities and Change in Net Assets:
Federal Grants $ 18,536,098
Corporate, Foundation Non-Federal Government Grants 108,586
TOTAL GRANTS REVENUE WITHOUT DONOR RESTRICTIONS $ 18,644,684