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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards and state financial assistance present the activity of all federal awards and state financial assistance programs of NJCIE received directly from federal agencies as well as passed through other government agencies for the year ended June 30, 2023. The information in these schedules is presented in accordance with the requirements of 2 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 NJCIE, it is not intended to and does not present the financial position, changes in net assets, or cash flows of NJCIE.
Title: Summary of Significant Accounting Policies
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
NJCIE has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
NJCIE provided no federal or state awards to subrecipients during the year.
Title: Relationship to Federal and State Financial Reports
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The regulations and guidelines governing the preparation of federal and state financial reports vary by agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal and state financial reports do not necessarily agree with the amounts in the accompanying schedules of expenditures of federal and state awards, which is prepared on the accrual basis of accounting explained in Note 2.
Title: Loan Programs
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NJ Coalition for Inclusive Education, Inc. and Subsidiary (NJCIE) has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
In May 2020, NJCIE received federal funding from the U.S Small Business Administration through the Economic Injury Disaster Loan (“EIDL”) program in the amount of $150,000. In October 2021, the EIDL agreement was modified, increasing the loan to $500,000. The balance of loan programs outstanding as of June 30, 2023 was $500,000, including accrued interest of $11,240.