Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget (OMB) Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: APS has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. APS has the option to operate under predetermined fixed indirect cost rates. In June 2019, APS received approval to use an indirect cost rate from the National Science Foundation at 36.2% for the period from January 1, 2020 to December 31, 2024.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of American Physical Society (“APS”) 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 APS, it is not intended to and does not present the financial position, changes in net assets or cash flows of APS.
Title: Reconciliation of Schedule of Expenditures of Federal Awards to the Statement of Activities
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget (OMB) Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: APS has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. APS has the option to operate under predetermined fixed indirect cost rates. In June 2019, APS received approval to use an indirect cost rate from the National Science Foundation at 36.2% for the period from January 1, 2020 to December 31, 2024.
Total
Non-Grant
Total Federal
Total
Year ended December 31, 2024
Expenditures
Expenditures
Expenditures
Research publications
$
25,882,632
$
-
$
25,882,632
Scientific meetings
13,527,079
-
13,527,079
Membership operations
5,831,477
-
5,831,477
Public affairs and programs
8,101,641
2,564,430
10,666,071
Prizes and awards
850,402
-
850,402
General and administrative
33,663,475
-
33,663,475
Fundraising
526,183
-
526,183
$
88,382,889
$
2,564,430
$
90,947,319
American Physical Society
Notes to Schedule of Expenditures of Federal Awards
Year Ended December 31, 2024
34
APS records other revenue to Public affairs and programs revenue which are not required to be recorded within the Schedule.
Year ended December 31, 2024
Total
Income accrued from Schedule of Expenditures of Federal Awards
$
2,564,430
Contributions
176,786
Program income
643,202
Advertising
144,242
Other
96,820
$
3,625,480