Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Presentation, Summary of Significant Accounting Policies, & Indirect Cost Recovery
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the activity of all federal awards of the Institute 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 Institute, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Institute.
Title: Summary of Significant Accounting Policies
Accounting Policies: Basis of Presentation, Summary of Significant Accounting Policies, & Indirect Cost Recovery
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Indirect Cost Recovery
Accounting Policies: Basis of Presentation, Summary of Significant Accounting Policies, & Indirect Cost Recovery
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Institute has elected not to use the 10-percent de minimis indirect cost rate allowed under Section 200.414 Uniform Guidance.