Notes to SEFA
Title: GENERAL INFORMATION
Accounting Policies: Federal, state, and county expenditures are reported on the combined statement of activities and changes in net assets as program services and general and administrative. In certain programs, the expenditures reported in the combined financial statements may differ from the expenditures reported in the schedule of expenditures of federal, state, and county awards due to program expenditures exceeding grant or contract budget limitations or capitalization policies required by accounting principles generally accepted in the United States of America, which are not included as federal, state, and county awards. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal, state, county, and other funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to receive the 10% de minimis indirect cost rate pursuant to Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The accompanying schedule of expenditures of federal, state, and county awards presents the activities in all the federal, state, and county awards of Interfaith Neighbors, Inc. (the “Organization”) for the year ended December 31, 2024. All financial assistance received directly from federal, state, and county agencies, as well as financial assistance passed through governmental agencies or nonprofit organizations, is included on the schedule.
Title: NONCASH ASSISTANCE
Accounting Policies: Federal, state, and county expenditures are reported on the combined statement of activities and changes in net assets as program services and general and administrative. In certain programs, the expenditures reported in the combined financial statements may differ from the expenditures reported in the schedule of expenditures of federal, state, and county awards due to program expenditures exceeding grant or contract budget limitations or capitalization policies required by accounting principles generally accepted in the United States of America, which are not included as federal, state, and county awards. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal, state, county, and other funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to receive the 10% de minimis indirect cost rate pursuant to Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The Organization did not receive any federal noncash assistance for the year ended December 31, 2024.