Notes to SEFA
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
The reimbursement of indirect costs reflected in the accompanying financial statements as federal grants revenue is subject to final approval by federal grantors and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to the Foundation’s financial position or change in net assets.
Awarding agencies retain the right to disallow certain reimbursements and expenses claimed based on audit findings. In the event of final disallowance, the funds will be reimbursed to the awarding agency from the Foundation’s net assets without donor restrictions.
All of the Foundation’s federal awards were in the form of cash assistance for the year ended December 31, 2024. The Organization had no federally funded insurance programs or loan guarantees during the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The organization use the NICRA rate approved on 02/16/2024 for its indirect cost. The approved NICRA rate is applicable for the period 01/01/2023 to 12/31/2025.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Elizabeth Glaser Pediatric AIDS Foundation (the Foundation) 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 the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation.
The Organization makes sub-awards to organizations to assist with project implementation in the country of performance. The Schedule for the year ended December 31, 2024 includes only reimbursable expenses reported by the subrecipients to the Foundation during the year ended December 31, 2024.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
The reimbursement of indirect costs reflected in the accompanying financial statements as federal grants revenue is subject to final approval by federal grantors and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to the Foundation’s financial position or change in net assets.
Awarding agencies retain the right to disallow certain reimbursements and expenses claimed based on audit findings. In the event of final disallowance, the funds will be reimbursed to the awarding agency from the Foundation’s net assets without donor restrictions.
All of the Foundation’s federal awards were in the form of cash assistance for the year ended December 31, 2024. The Organization had no federally funded insurance programs or loan guarantees during the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The organization use the NICRA rate approved on 02/16/2024 for its indirect cost. The approved NICRA rate is applicable for the period 01/01/2023 to 12/31/2025.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
The reimbursement of indirect costs reflected in the accompanying financial statements as federal grants revenue is subject to final approval by federal grantors and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to the Foundation’s financial position or change in net assets.
Awarding agencies retain the right to disallow certain reimbursements and expenses claimed based on audit findings. In the event of final disallowance, the funds will be reimbursed to the awarding agency from the Foundation’s net assets without donor restrictions.
All of the Foundation’s federal awards were in the form of cash assistance for the year ended December 31, 2024. The Organization had no federally funded insurance programs or loan guarantees during the year ended December 31, 2024.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
The reimbursement of indirect costs reflected in the accompanying financial statements as federal grants revenue is subject to final approval by federal grantors and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to the Foundation’s financial position or change in net assets.
Awarding agencies retain the right to disallow certain reimbursements and expenses claimed based on audit findings. In the event of final disallowance, the funds will be reimbursed to the awarding agency from the Foundation’s net assets without donor restrictions.
All of the Foundation’s federal awards were in the form of cash assistance for the year ended December 31, 2024. The Organization had no federally funded insurance programs or loan guarantees during the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The organization use the NICRA rate approved on 02/16/2024 for its indirect cost. The approved NICRA rate is applicable for the period 01/01/2023 to 12/31/2025.
The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.