Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting with the exception of awards made to subrecipients, which are reported when cash payments are made. Such expenditures are recognized following cost principles and reporting guidelines based on when the activity related to the federal award occurs contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. For select grants renewed later in 2024, the new 15% de minimis indirect
cost rate was utilized.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Goodwill Industries International, Inc. and Related Entities (the Organization) 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 Organization, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting with the exception of awards made to subrecipients, which are reported when cash payments are made. Such expenditures are recognized following cost principles and reporting guidelines based on when the activity related to the federal award occurs contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. For select grants renewed later in 2024, the new 15% de minimis indirect
cost rate was utilized.
Expenditures reported on the Schedule are reported on the accrual basis of accounting with the exception of awards made to subrecipients, which are reported when cash payments are made. Such expenditures are recognized following cost principles and reporting guidelines based on when the activity related to the federal award occurs contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting with the exception of awards made to subrecipients, which are reported when cash payments are made. Such expenditures are recognized following cost principles and reporting guidelines based on when the activity related to the federal award occurs contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. For select grants renewed later in 2024, the new 15% de minimis indirect
cost rate was utilized.
The Organization elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. For select grants renewed later in 2024, the new 15% de minimis indirect
cost rate was utilized.