Notes to SEFA
Title: NOTE 2 - PASSTHROUGH PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditure of Federal Awards (the "Schedule") has been prepared as required under the Office of Management and Budget (OMB) Uniform Guidance. The purpose of the schedule is to present a summary of those activities of National Young Farmers Coalition, Inc. for the year ended December 31, 2023 using the accrual basis of accounting. For purposes of this schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loans and loan guarantees, and other noncash assistance. Because the schedule presents only a selected portion of the activities of the Organization, it is not intended to, and does not, present either the financial position, or statement of activities and other changes in net assets of the Organization.
De Minimis Rate Used: Y
Rate Explanation: Indirect costs are charged to federal grants and contracts when applicable at the 10 percent de-minimis indirect cost rate allowed under the Uniform Guidance.
Where the Organization receives funds from a government entity other than the federal government (passthrough), the funds are accumulated based upon the Federal Assistance Listing (FAL) (formerly Catelogue of Federal Domestic Assistance or "CFDA" number) advised by the passthrough grantor. Identifying numbers, other than the federal assistance listings, which may be assigned by passthrough grantors are not maintained in the Organization's financial management system. The Organization has identified certain passthrough identifying numbers and included them in the schedule of expenditures of federal awards.