Notes to SEFA
Accounting Policies: Summary of Signicant Accounting Policies General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal
awards of Team Gleason Foundation (the “Foundation”). The Foundation’s reporting entity is defined
in Note 1 to the financial statements for the year ended December 31, 2024. All federal awards received directly from federal agencies are included on the schedule. There were no federal awards passed-through other government agencies.
b. Basis of Accounting
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Foundation’s financial statements for the year ended December 31, 2024. Foundation has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditor did not use the de minimis cost rate.