Audit 332091

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. MAS has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for federal awards that began before 7/1/24, when its provisional indirect rate of 20.03% became effective under the Negotiated Indirect Cost Rate Agreement with the U.S. Department of Interior. MAS has passed through $79,149 to subrecipients during the year ended June 30, 2024. De Minimis Rate Used: N Rate Explanation: MAS has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for federal awards that began before 7/1/24, when its provisional indirect rate of 20.03% became effective under the Negotiated Indirect Cost Rate Agreement with the U.S. Department of Interior. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Massachusetts Audubon Society, Inc. (“MAS”) (a Massachusetts corporation, not for profit) under programs of the federal government for the year ended June 30, 2024. 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of MAS, it is not intended to and does not present the financial position, changes in net assets or cash flows of MAS.