Audit 355519

Accounting Policies: Note 1 - Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Mental Health Innovation Foundation (the Organization) under programs of the federal government for the year ended December 31, 2024. The information is presented in accordance with the requirements for 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 or changes in net position of the Organization. Note 2 - Summary of Significant Accounting Policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance was provided to a subrecipient. De Minimis Rate Used: N Rate Explanation: Note 3 - Indirect Cost Rate The Organization has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.