Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected to not use the 10% de minimums indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimums indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of federal awards ("schedule") includes the federal award
and loan activity of 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 ("Uniform Guidance"). Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Outstanding Loan
Accounting Policies: Expenditures reported on the schedule are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected to not use the 10% de minimums indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimums indirect cost rate allowed under the Uniform
Guidance.
The Organization's loan balance, related to federal awards, outstanding as of December 31,
2024 was $652,010.