Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award of activity of Boys & Girls Clubs of America (BGCA) under programs of the federal government 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. Because the Schedule presents only a selected portion of the operations of BGCA, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of BGCA. BGCA's consolidated financial statements include the operations of its 60 subsidiary alliance organizations, certain of which received approximately $99,643,000 in federal awards in aggregate which is not included in the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: BGCA has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
Title: CONTINGENCY
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award of activity of Boys & Girls Clubs of America (BGCA) under programs of the federal government 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. Because the Schedule presents only a selected portion of the operations of BGCA, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of BGCA. BGCA's consolidated financial statements include the operations of its 60 subsidiary alliance organizations, certain of which received approximately $99,643,000 in federal awards in aggregate which is not included in the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: BGCA has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of BGCA. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal laws and regulations.
Title: INDIRECT COST RATE
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award of activity of Boys & Girls Clubs of America (BGCA) under programs of the federal government 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. Because the Schedule presents only a selected portion of the operations of BGCA, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of BGCA. BGCA's consolidated financial statements include the operations of its 60 subsidiary alliance organizations, certain of which received approximately $99,643,000 in federal awards in aggregate which is not included in the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: BGCA has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
BGCA has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
Title: NONAPPROPRIATED FUND INSTRUMENTALITIES
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award of activity of Boys & Girls Clubs of America (BGCA) under programs of the federal government 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. Because the Schedule presents only a selected portion of the operations of BGCA, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of BGCA. BGCA's consolidated financial statements include the operations of its 60 subsidiary alliance organizations, certain of which received approximately $99,643,000 in federal awards in aggregate which is not included in the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: BGCA has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
Nonappropriated Fund Instrumentalities (NAFIs) are created and regulated by federal agencies for that benefit of governmental entities but are not federal agencies of governmental corporations in and of themselves. During the year ended December 31, 2024, BGCA expended $3,733,972 in NAFIs, which are not included in the Schedule.