Title: 1. 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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of GSMA Mobile for Development Foundation, Inc. (the Foundation) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
All of the Foundation’s federal awards were in the form of cash assistance. The Foundation did not have any subrecipient expenditures during the year ended March 31, 2025.
Title: 2. Summary of Significant Accounting Policies
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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
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.
Title: 3. Indirect Cost Rate
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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
Title: 4. Contingency
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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Foundation. In the opinion of management, all
grant expenditures are in compliance with the terms of the grant agreements and applicable federal laws and regulations.
Title: 5. 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 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: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
Year ended March 31, 2025
U.S. Government $ 1,102,860
GSMA member 2,634,215
Other government and nongovernment organizations:
Foreign, Commonwealth, and Development Office 16,420,816
Swedish International Development Cooperation Agency 2,178,212
Other 4,144,495
Total Revenues and Other Support $ 26,480,598
Title: 6. Termination of Grant
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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, which increased from 10% to 15% during the year ended March 31, 2025.
On January 27, 2025, an Executive Order concerning the Reevaluation and Realignment of United States Foreign Assistance Programs initiated a 90-day “pause” on new funding obligations to facilitate a review by the new administration. The Foundation received a termination notice for its
grant ALN 98.001 during February 2025, effective immediately. The unused funds from this grant at the time of termination totaled approximately $21,704,306 and the unused authorized funds from this grant at the time of termination totaled approximately $9,681,141. As of March 31, 2025 and
July 16, 2025, the current accounts receivable balance for this terminated grant were $327,804 and $210,139, respectively, which is in process for collection with termination settlement and final billings. Management is currently assessing the implications of this termination on the projected decrease in grants revenue, as well as the corresponding program expenses for the year ending March 31, 2026. The loss of grant ALN 98.001 is not material to the Foundation, as it
represents the entirety of federal funds received.