Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes
the federal award activity of the V.B.R. Foundation, Inc. (VBRF), 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 (Uniform Guidance). Because the Schedule presents
only a selected portion of the operations of VBRF, it is not intended to and does not present
the financial position, or its related statement of activities, functional expenses or cash
flows.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
NOTE 3 - INDIRECT COST RATE
VBRF uses the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
for all of its projects.
De Minimis Rate Used: Y
Rate Explanation: 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.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes
the federal award activity of the V.B.R. Foundation, Inc. (VBRF), 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 (Uniform Guidance). Because the Schedule presents
only a selected portion of the operations of VBRF, it is not intended to and does not present
the financial position, or its related statement of activities, functional expenses or cash
flows.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes
the federal award activity of the V.B.R. Foundation, Inc. (VBRF), 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 (Uniform Guidance). Because the Schedule presents
only a selected portion of the operations of VBRF, it is not intended to and does not present
the financial position, or its related statement of activities, functional expenses or cash
flows.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
NOTE 3 - INDIRECT COST RATE
VBRF uses the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
for all of its projects.
De Minimis Rate Used: Y
Rate Explanation: 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.
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: NOTE 3 - INDIRECT COST RATE
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes
the federal award activity of the V.B.R. Foundation, Inc. (VBRF), 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 (Uniform Guidance). Because the Schedule presents
only a selected portion of the operations of VBRF, it is not intended to and does not present
the financial position, or its related statement of activities, functional expenses or cash
flows.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
NOTE 3 - INDIRECT COST RATE
VBRF uses the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
for all of its projects.
De Minimis Rate Used: Y
Rate Explanation: 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.
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.