Audit 321666

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: PfD has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. PfD has a negotiated indirect cost rate. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Partners for Development (“PfD”) under programs of the federal government for the year ended December 31, 2023. The information in 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). Because the Schedule presents only a selected portion of the operations of PfD, it is not intended to and does not present the financial position, changes in net assets or cash flows of PfD.

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: PfD has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. PfD has a negotiated indirect cost rate. 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: 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: PfD has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. PfD has a negotiated indirect cost rate. PfD has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. PfD has a negotiated indirect cost rate.

Title: Subrecipients 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: PfD has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. PfD has a negotiated indirect cost rate. There were no amounts provided to subrecipients from federal awards received during the year ended December 31, 2023.