Notes to SEFA
Title: NOTE 3 - SUBRECIPIENTS
Accounting Policies: Expenditures reported in the Schedule are on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2
U.S Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement. The Foundation has elected not to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
The Foundation had no amounts which were passed-through to subrecipients.