Notes to SEFA
Title: Donated personal protective equipment
Accounting Policies: (1) 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. (2) NFP has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency. (3) No awards passed through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: NFP has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency.
During the year ended June 30, 2024, NFP did not receive donated personal protective equipment.
Title: Small Business Administration Disaster Assistance loan program
Accounting Policies: (1) 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. (2) NFP has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency. (3) No awards passed through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: NFP has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency.
NFP has a Small Business Administration Disaster Assistance loan. The loan balance outstanding at the beginning of the year is included in the Federal expenditures presented in the Schedule. NFP received no additional loans during the year. The balance of the loan outstanding was $128,608 at June 30, 2024.