Audit 322398

Title: Basis of Presentation 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. Negative amounts, when shown on the Schedule, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented when available. De Minimis Rate Used: N Rate Explanation: IYF has not elected to use the 10% de minimis indirect cost rate for federal awards under the Uniform Guidance. Indirect costs are charged to U.S. Government grants and nonfederal grants based on an estimate of the final indirect cost rate. Any variance between the estimate and the final negotiated rate is adjusted in the period when finalized. For the year ended December 31, 2023, IYF's indirect cost rate was calculated based on total direct costs. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant expenditures of International Youth Foundation and Affiliate (IYF) 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 the 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 IYF, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of IYF.