FAC Explorer

Audit 365878

FY End
2024-12-31
Total Expended
$13.37M
Findings
2
Programs
1
Organization: The Indianapolis Foundation (IN)
Year: 2024 Accepted: 2025-09-09
Auditor: Forvis Mazars LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
575974 2024-001 - - A
1152416 2024-001 - - A

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $13.37M Yes 1

Contacts

Name Title Type
SJHXZF89CLG5 Erin Tanner Auditee
3176316542 Rick Wittgren Auditor
No contacts on file

Notes to SEFA

Title: Federal Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Central Indiana Community Foundation, Inc., The Indianapolis Foundation, Inc., Hamilton County Community Foundation, Inc. and Affiliated Organizations (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, statement of activities or cash flows of the Foundation. 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 or other applicable regulatory 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 amounts reported as expenditures in prior years. De Minimis Rate Used: Y Rate Explanation: The Foundation has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Foundation had no federal loans that they were administering as of December 31, 2024.

Finding Details

Finding 2024-001
Federal Program Name: COVID-19 Coronavirus State and Local Fiscal Recovery Funds Federal Agency: U.S. Department of Treasury Federal Assistance Listing Title and Number: COVID-19 Coronavirus State and Local Fiscal Recovery Funds, 21.027 Award Year: January 1, 2023 – December 31, 2023 Criteria or Specific Requirement: Activities Allowed or Unallowed/Allowable Costs Condition: Subrecipient self-reported misuse of federal grants funds. (Other Instance of Noncompliance) Questioned Costs: $46,111 Context: During 2024 a subrecipient self-reported misuse of federal grant funds claimed in 2023 totaling $46,111 of expenses used for unallowable purposes. Effect: Costs were approved by the subrecipient without appropriate review for allowability. Cause: Adequate review of allowability of costs by the subrecipient was not performed properly due to oversight in administration of the program. Repeat Finding: No Recommendation: We recommend the Foundation revisit controls over this compliance requirement with subrecipients to ensure appropriate documentation is obtained and maintained within files by subrecipients. Views of Responsible Officials and Planned Corrective Action: See corrective action plan prepared by management and attached.
Finding 2024-001
Federal Program Name: COVID-19 Coronavirus State and Local Fiscal Recovery Funds Federal Agency: U.S. Department of Treasury Federal Assistance Listing Title and Number: COVID-19 Coronavirus State and Local Fiscal Recovery Funds, 21.027 Award Year: January 1, 2023 – December 31, 2023 Criteria or Specific Requirement: Activities Allowed or Unallowed/Allowable Costs Condition: Subrecipient self-reported misuse of federal grants funds. (Other Instance of Noncompliance) Questioned Costs: $46,111 Context: During 2024 a subrecipient self-reported misuse of federal grant funds claimed in 2023 totaling $46,111 of expenses used for unallowable purposes. Effect: Costs were approved by the subrecipient without appropriate review for allowability. Cause: Adequate review of allowability of costs by the subrecipient was not performed properly due to oversight in administration of the program. Repeat Finding: No Recommendation: We recommend the Foundation revisit controls over this compliance requirement with subrecipients to ensure appropriate documentation is obtained and maintained within files by subrecipients. Views of Responsible Officials and Planned Corrective Action: See corrective action plan prepared by management and attached.