Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the National Trust for Historic Preservation in the United States (the National Trust) and its Subsidiaries and Affiliates (collectively, the Trust) under programs of the federal government for the year ended June 30, 2025. 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 Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Trust.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget (OMB) Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The National Trust has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. One of the Trust’s subsidiaries, National Main Street Center, Inc., has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Trust has one federally sponsored endowment fund, the Congressional Cemetery Endowment, funded by the Architect of the Capitol, which is included in the Schedule. The balance of this endowment fund is summarized below: "See the Notes to the SEFA for chart/table."