Audit 353619

Title: Loans Oustanding Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B:Side Capital and B:Side Fund(the "Organization") under programs of the federal government for the year ended December 31, 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. SUMMARY OF SIGNIFICANT 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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass_x0002_through entity identifying numbers are presented where available and applicable. De Minimis Rate Used: N Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Schedule includes loan balances as of the beginning of the period for loans which the Federal government imposes continuing compliance plus the value of new loans made or received during the year and any interest subsidy, cash, or administrative cost allowances received. The loan balances for loans included on the Schedule is as follows as of December 31,2024.

Title: Economic Adjustment Assistance Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B:Side Capital and B:Side Fund(the "Organization") under programs of the federal government for the year ended December 31, 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. SUMMARY OF SIGNIFICANT 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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass_x0002_through entity identifying numbers are presented where available and applicable. De Minimis Rate Used: N Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The amounts reported in the Schedule for the Economic Adjustment Assistance program consists of the following: Balance of revolving loan fund principal oustanding on loans, Cash balance in the revolving loan fund, Administrative expenses paid using revolving loan fund income, Unpaid principal of all loans written off.