Title: SCHEDULE NOT IN AGREEMENT WITH OTHER FEDERAL AWARDS REPORTING
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
The information included in the Schedule may not fully agree with other federal awards reports,
submitted directly to federal grantor agencies because, among other reasons, the award report
may (a) be prepared for a different fiscal period and (b) include cumulative data (from prior years)
rather than data from the current year only.
Title: MAJOR FEDERAL PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
Major programs are identified in the Summary of Auditors’ Results Section in the Schedule of
Findings and Questioned Costs. Federal programs are presented by federal agencies.
Title: ASSISTANCE LISTING NUMBERS ("ALN")
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
Assistance Listing Number ("ALN") included in the Schedule are determined based on the program name, review of grant contract information and the public description of federal assistance listings published by the U.S. Government on sam.gov. The first two digits identify the federal department or agency that administers the program, and the last three numbers are assigned by numerical sequence
Title: RELATIONSHIP TO THE STATEMENT OF ACTIVITIES
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
The reconciliation of expenses in the Statement of Activities and Changes in Net Assets to the total expenditures of federal awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statements of Activities and Changes in Net Assets $ 11,798,390 Less: Unrestricted Funds Expenditures (Non-Federal) (6,249,566) Depreciation Expense in Federal Programs (449,672)
Plus: Federal Capitalized Expenses 211,794 Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 5,310,946
Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
Matching costs, such as the nonfederal share of certain programs costs not borne by the Federal
Government, are not included in the Schedule.
Title: PASS-THROUGH AWARDS TO SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
For the year ended December 31, 2024, there were no awards passed through to subrecipients.
Title: SUBSEQUENT EVENT
Accounting Policies: The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal award activity of Leap Social Enterprise, Inc. ("the Institution") 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 Institution, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institution The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports The financial information for the Schedule is taken from the Institution's books, records, and financial statements. The amounts, however, may not agree with the amounts in the Federal Financial Reports. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
a. The Schedule is prepared from the Institution’s accounting records and is not intended to present its financial position or the results of its operations.
b. The financial transactions are recorded by the Institution in accordance with the terms
and conditions of the grants, which are consistent with US GAAP.
c. Expenditures are recognized in the accounting period in which the liability is incurred, if
measurable or when actually paid, whichever occurs first.
d. Expenditures are reported on the Schedule following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditure may or may not be allowable or
may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Institution has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance for the year ended December 31, 2024.
On January 27, 2025, the OMB of the United States Federal Government instituted a pause
(freeze) on the disbursement of federal grant and loan funds, which became effective on January
28, 2025. The extent to which the funding freeze impacts our operations, financial results, and cash
flows, both current and future, will depend on future developments, which are highly uncertain and
cannot be predicted with any measure of certainty or probability