Notes to SEFA
Title: 1. Summary of Significant Accounting Policies
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cleveland Clinic Foundation (EIN 34-0714585) and its controlled affiliates, d.b.a. Cleveland Clinic Health System (System), and is presented on the accrual basis of accounting.
Subrecipient
The System is a subrecipient of federal funds, which are reported as expenditures and listed as federal pass-through funds.
De Minimis Rate Used: N
Rate Explanation: The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cleveland Clinic Foundation (EIN 34-0714585) and its controlled affiliates, d.b.a. Cleveland Clinic Health System (System), and is presented on the accrual basis of accounting.
Subrecipient
The System is a subrecipient of federal funds, which are reported as expenditures and listed as federal pass-through funds.
Title: 2. Federal Direct Student Loans
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cleveland Clinic Foundation (EIN 34-0714585) and its controlled affiliates, d.b.a. Cleveland Clinic Health System (System), and is presented on the accrual basis of accounting.
Subrecipient
The System is a subrecipient of federal funds, which are reported as expenditures and listed as federal pass-through funds.
De Minimis Rate Used: N
Rate Explanation: The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
During the year, the System expended $160,593 in Federal Direct Student Loans (Assistance Listing 84.268), which includes Direct Stafford Loan and Parent’s Loan for Undergraduate Students from the federal government. The federal government is responsible for billings and collections of the loans. The System assists the federal government by processing the applications and applying funds to student accounts from the federal government. Since this program is administered by the federal government, new loans made in the fiscal year ended December 31, 2024 related to Federal Direct Student Loans are considered current year federal expenditures, whereas the outstanding loan balances are not.
Title: 3. Indirect Cost Rate
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cleveland Clinic Foundation (EIN 34-0714585) and its controlled affiliates, d.b.a. Cleveland Clinic Health System (System), and is presented on the accrual basis of accounting.
Subrecipient
The System is a subrecipient of federal funds, which are reported as expenditures and listed as federal pass-through funds.
De Minimis Rate Used: N
Rate Explanation: The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Title: 4. Disaster Grants – Public Assistance (Presidentially Declared Disasters)
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cleveland Clinic Foundation (EIN 34-0714585) and its controlled affiliates, d.b.a. Cleveland Clinic Health System (System), and is presented on the accrual basis of accounting.
Subrecipient
The System is a subrecipient of federal funds, which are reported as expenditures and listed as federal pass-through funds.
De Minimis Rate Used: N
Rate Explanation: The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
For the Federal Emergency Management Agency (FEMA), Department of Homeland Security’s Disaster Grants – Public Assistance (Presidentially Declared Disasters) (Assistance Listing No. 97.036), the System incurred expenditures in 2020 through 2024; however, FEMA did not approve the project worksheets until 2024. As a result, most Assistance Listing No. 97.036 expenditures reported in the Schedule for the year ended December 31, 2024 were incurred in prior years.