Title: Note 1 Basis of Presentation
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of El Pasoans Fighting Hunger Food Bank and Affiliate (nonprofit organizations) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements.
Title: Note 2 Summary of Significant Accounting Policies
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 Food Distribution
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Non-cash assistance is reported in the schedule at the fair market value of the commodities received and distributed. USDA food commodities inventory on hand totaled $2,801,426 as of December 31, 2024.
Title: Note 4 Contingencies
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization had in effect for the fiscal year ended December 31, 2024 the following insurance coverage: General Liability $2,000,000, Umbrella $7,000,000, Workers Compensation $1,000,000, Officer and Directors $2,000,000, Cyber Insurance $2,000,000, Commercial Carrier $1,000,000.
Title: Note 5 Reconciliation of Schedule Expenditures of Federal Awards to Consolidated Financial Statements
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Total federal awards expended per schedule of expenditures of federal award $35,320,674 less: reported elsewhere -0- Statement of Activities, page 8 $35,320,674.