FAC Explorer

Audit 368798

FY End
2024-12-31
Total Expended
$3.54M
Findings
2
Programs
1
Organization: Wadhwani Institute for Artificial Intelligence Foundation (CA)
Year: 2024 Accepted: 2025-09-29
Auditor: Frank Rimerman + CO LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1156464 2024-001 Material Weakness Yes L
1156465 2024-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
98.001 Usaid Foreign Assistance for Programs Overseas $2.49M Yes 1

Contacts

Name Title Type
WWU7QG5SZLV9 Amy Frizzi Auditee
4123871486 Patrick White Auditor
No contacts on file

Notes to SEFA

The Wadhwani Institute for Artificial Intelligence Foundation (the Foundation), a California privateoperating foundation, was founded in August 2017 with the primary mission to develop and applyartificial intelligence (AI)-based solutions to a broad range of societal domains, including healthcare,agriculture, education, infrastructure, and financial inclusion in emerging economies. The Foundation receives funding through a direct grant from the United States Agency forInternational Development (USAID).
Basis of Presentation: The schedule of expenditures of federal award (the Schedule) includes the Foundation’s federalaward activities under USAID grants for the year ended December 31, 2024. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the Foundation’s operations, it is not intended to and does not present theFoundation’s results of operations, and cash flows in accordance with accounting principlesgenerally accepted in the United States of America (U.S. GAAP). Cost Principles: Expenditures reported on the Schedule are reported on the accrual method of accounting inaccordance with U.S. GAAP. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Indirect Cost Rates: The Foundation has elected to use the 10% de minimis indirect cost rate allowed under the UniformGuidance.

Finding Details

Finding 2024-001
Finding No. 2024-001 – Federal Funding Accountability and Transparency Act Reporting Criteria Reporting subaward and executive compensation information in accordance with the Federal Funding Accountability and Transparency Act of 2006 (FFATA), codified in 2 CFR Part 170. Condition During our audit for the year ended December 31, 2024, we tested a subaward contract under which FFATA reporting was required but not submitted. First tier subawards of $30,000 or more must be submitted to the Federal Funding Accountability and Transparency Act Subaward Reporting System (FSRS) no later than the end of the month following the month in which the subaward was issued. Effect As a result, the Foundation was not in compliance with reporting requirements under FFATA. Recommendation We recommend that the Foundation submit the FFATA report. Additionally, a formal process should be implemented to ensure timely submission of future reports whenever the $30,000 subaward threshold is met. Views of Responsible Officials Management agrees with the finding and recommendation. See corrective action plan.