Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of One Acre Fund and Subsidiaries (the Organization), under programs of the federal government for the year ended December 31, 2024. The information in the 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
One of the initial determinations if the Organization is a low-risk auditee is the requirement that the Organization was audited in the prior two years under the Uniform Guidance (section 45 CFR §75.520(a)). The Organization did not meet that requirement and therefore is not considered a low-risk auditee.
The Organization has evaluated subsequent events occurring after the consolidated financial statements’ date of December 31, 2024 through April 30, 2025, except for our report on the supplemental schedule of expenditures of federal awards, for which the subsequent events date is September 26, 2025, which is the date these consolidated financial statements were available to be issued. No events arose during the period that would require adjustments or additional disclosures.