Notes to SEFA
Title: Indirect Cost Recovery Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Carter Center, Inc. and subsidiary (the Center) and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the U.S. Office of Management and Budget (OMB) Uniform Guidance. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Center did not elect to use the 10% de minimis indirect cost rate as discussed in Uniform Guidance Section 200.414 and used the approved NICRA rate.
Indirect costs are applied to Federal grants in accordance with requirements of the various grants being administered. The Center did not elect to use the 10% de minimis indirect cost rate as discussed in Uniform Guidance Section 200.414. The maximum rate applied to 2024 expenses was the approved rate of 15.57%. For purposes of calculating the indirect cost recovery rate, common area and depreciation expense are included in management and general operating expenses. See the Notes to the SEFA for chart/table