Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 1 to the consolidated financial statements of the Institute.
De Minimis Rate Used: N
Rate Explanation: The institute has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of the International Institute of Metropolitan St. Louis (the International Institute) and its affiliate, International Institute Community Development Corporation (collectively, the Institute). The information on 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, and Audit Requirements for Federal Awards (the Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. International Institute’s affiliate, International Institute Community Development Corporation, had no federal expenditures during the year ended December 31, 2024.
Title: Loan Funds
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 1 to the consolidated financial statements of the Institute.
De Minimis Rate Used: N
Rate Explanation: The institute has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
International Institute administers the Microenterprise Revolving Loan Fund (ALN #93.576). The outstanding loan balance as of December 31, 2024 is $14,765 .