Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Love146, Inc. under programs of the federal government for the year ended June 30, 2024. The information is 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Love146, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Love146, Inc. 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.
Love146, Inc. did not use the 10 percent de minimis indirect cost rate.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Love146, Inc. did not use the 10 percent de minimis indirect cost rate.