Audit 349875

Title: Note 4: Federal Loan Programs Accounting Policies: Note: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of The Lutheran Foundation, Inc. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Lutheran Foundation, Inc. Note: 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. De Minimis Rate Used: N Rate Explanation: The Lutheran Foundation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Lutheran Foundation, Inc. administered no federal loan programs during the year ended June 30, 2024.