Title: BASIS PRESENTATION
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal grant activity of the Organization under programs of the federal government for the years ended June 30, 2024 and 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures included in the Schedule are reported on the accrual basis of accounting in the Corporation's Statement Activities and Changes in Net Position, as further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Because the Schedule of Expenditures of Federal Awards presents only federal activities of the Corporation, it is not intended to and does not present the financial position, assets, liabilities, net position, revenues, expenses, changes in net position, and cash flows, as a whole.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Matching costs, such as the nonfederal share of certain program costs, are not included in the accompanying schedule.
Title: DISTINCTION BETWEEN TYPE A AND TYPE B PROGRAMS
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The dollar threshold for Type A and Type B programs amounted to $750,000.
Title: INDIRECT COST
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: PASS-TROUGH
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No federal grant dollar has been passed through to sub-recipients.