Audit 362736

Title: Subrecipients Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Springboard Nonprofit Consumer Credit Management, Inc. (DBA credit.org) and Subsidiaries (collectively, the “Organization”) 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position of the Organization. For purposes of the Schedule, expenditures for federal programs are recognized on the accrual basis of accounting. Expenditures are determined using the cost accounting principles and procedures set, as required by the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect rate per 2 CFR 200.510(b)(6). During the year ended December 31, 2024, the Organization did not provide federal funds to subrecipients.