Title: Note A - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.
Title: Note B - Catalog of Federal Domestic Assistance (CFDA) Numbers
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Some of the Federal awarding agencies have not issued CFDA numbers; therefore, the OMB Clearinghouse numbering conventions were utilized. Contracts having a common grant purpose and from the same agency were aggregated and classified as one program.
Title: Note C - Reconciliation of Schedule of Expenditures of Federal Awards to the Statement of Activities
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal grant revenue as shown on the consolidated statement of activities and changes in net assets: $ 147,524,396 Less: Fee earned on Federal contracts (694,954) Less: Federal expenditures of subsidiary not subject to single audit (366,589) Total 2024 expenditures on the schedule of expenditures of Federal awards $ 146,462,853
Title: Note D - Indirect Cost Rates
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of International Research & Exchanges Board, Inc. (IREX), and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule of expenditures of Federal awards may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
IREX has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.