Notes to SEFA
Accounting Policies: Note A – Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of There Is Hope, Inc. 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 There Is Hope, Inc., it is not intended to and does not present the financial
position, changes in net assets, or cash flows of There Is Hope, Inc.
Note B – 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.
De Minimis Rate Used: N
Rate Explanation: Note C – De Minimis Indirect Cost Rate
There Is Hope, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.