Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of International Fund for Animal Welfare, Inc. (the Organization) under the programs of the Federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
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.
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Subsequent to the issuance of the Organization’s original schedule of expenditures of federal awards for the year ended June 30, 2024, the Organization identified an error in the presentation of that schedule. The accompanying schedule of expenditures of federal awards improperly excluded the amounts passed through to sub-recipients from the total federal expenditures reported and was restated to correct the expenditures previously reported for Federal Assistance Listing Numbers 98.001 and 19.705. The effects of the restatement on federal expenditures reported in the accompanying schedule are summarized as follows: Federal Grantor/Pass-through Grantor/Program or Cluster Title Federal Assistance Listing Number Total Federal Expenditures as previously issued Adjustment Total Federal Expenditures as restated Total U.S. Agency for International Development 98.001 $ 1,059,268 $ 143,937 $ 1,203,205 Total U.S. Department of State 19.705 $ 855,834 $ 166,877 $1,022,711 Total expenditures of federal awards $2,215,185 $310,814 $2,525,999