Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal grant expenditures of AARP Foundation (the “Foundation”) for the year ended December 31, 2024. The Schedule was prepared using the accrual basis of accounting and is 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 portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation. Therefore, some amounts presented in the Schedule may differ from amounts presented in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation did not utilize the 10% de minimis indirect cost rate described in 2 CFR 200.414, Indirect (F&A) Costs of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal grant expenditures of AARP Foundation (the “Foundation”) for the year ended December 31, 2024. The Schedule was prepared using the accrual basis of accounting and is 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 portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation. Therefore, some amounts presented in the Schedule may differ from amounts presented in the financial statements.
Title: NOTE 2 - INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal grant expenditures of AARP Foundation (the “Foundation”) for the year ended December 31, 2024. The Schedule was prepared using the accrual basis of accounting and is 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 portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation. Therefore, some amounts presented in the Schedule may differ from amounts presented in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Foundation did not utilize the 10% de minimis indirect cost rate described in 2 CFR 200.414, Indirect (F&A) Costs of the Uniform Guidance.
The Foundation did not utilize the 10% de minimis indirect cost rate described in 2 CFR 200.414, Indirect (F&A) Costs of the Uniform Guidance.