Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal expenditures of Penelope House, Inc. and CLAY Foundation, Inc. (collectively, 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 combined financial position, changes in net assets, or cash flows of the Organization. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Organization and agencies and departments of the federal government and all sub-awards to the Organization by nonfederal organizations pursuant to federal grants, contracts, and similar grants.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Total federal expenditures as shown on the Schedule is reconciled below to total support and revenues per the Combined Statement of Activities, which is included as part of the Organization’s basic combined financial statements for the year ended December 31, 2024. Expenditures per Schedule of Expenditures of Federal Awards $ 1,031,457 Plus: Special events 72,485 Non-federal grants and performance contracts 343,978 Contributions 709,831 Community Foundation of South Alabama income distributions 26,250 Penelope's Closet income 132,182 Other 10,955 Total support and revenues per the Combined Statement of Activities $ 2,327,138
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.