Title: Note 1 - Basis of Presentation
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule") includes the federal award activity of Southwest Wetlands Interpretive Association 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 Southwest Wetlands Interpretive Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Southwest Wetlands Interpretive Association
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Southwest Wetlands Interpretive Association has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 - Loans Outstanding
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
The Organization did not have any loan balance outstanding as of December 31, 2024.
Title: Note 4 - Cluster
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
The Organization did not have any federal clusters for the Year ended December 31, 2024.
Title: Note 5 - Subrecipients
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
The Organization did not have any subrecipients fo the year ended December 31, 2024
Title: Note 6 - Exempt Status
Accounting Policies: The SEFA is presented on the accrual basis of accounting. Expenditures are recognized when the underlying activity related to the federal award occurs, regardless of when cash is received or disbursed. Expenditures include direct costs and indirect costs. Federal awards received as a subrecipient are included in the schedule and are based on information provided by the pass-through entities.
De Minimis Rate Used: N
Rate Explanation: Southwest Wetlands Interpretive Association has a Nonprofit Organization Indirect Cost Negotiation Agreement developed through the U.S. Department of the Interior. In 2024, Southwest Wetlands Interpretive Association had an accepted Provisional Rate of 23.01%, which is higher than de minimis cost rate.
Southwest Wetlands Interpretive Association is exempt from income taxation under Internal Revenue Code Section 501c3 and California Revenue Taxation Code Section 23701d