Audit 328755

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of African Services Committee, Inc. and Affiliate (“ASC” or the “Organization”) for the year ended December 31, 2023. Federal awards received directly from federal agencies, as well as federal awards passed through other entities, are included on the Schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the Organization, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of the Organization. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. For the year ended December 31, 2023, the Organization provided no funds to subrecipients. De Minimis Rate Used: Y Rate Explanation: The Organization was approved the indirect cost rate for the year ended December 31, 2023 at 16.60%. The indirect cost rate was approved in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200.