Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Strada Education Foundation, Inc., under programs of the federal government for the year ended December 31, 2024, and is presented using the accrual basis of accounting. While the Schedule is presented on a consolidated basis for Strada Education Foundation, Inc., all federal award activity is received by Strada Collaborative, LLC (the Company), an Indiana limited liability company, for which Strada Education Foundation, Inc. is the sole member. 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). 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. Because the Schedule presents only a selected portion of the operations of Collaborative, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
De Minimis Rate Used: N
Rate Explanation: The Company did not use the de minimis cost rate. The Company used a cost rate of 8% Modified Total Direct Cost as prescribed by the Department of Education.