Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of International Medical Corps. The Schedule includes federal awards received directly from federal agencies as well as federal awards passed through other agencies. Because the Schedule presents only a selected portion of the operations of International Medical Corps, it is not intended to, and does not, present the financial position of the International Medical Corps.
The accompanying Schedule is presented using the accrual basis of accounting.
Amounts reflected as negative balances represent adjustments made to estimates during the closeout period. The adjustments pertaining to federal donors are reflected in the accompanying Schedule.
International Medical Corps has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. Facilities and administrative costs allocated to awards for the year ended June 30, 2025, were based on predetermined fixed rates negotiated with International Medical Corps cognizant federal agency, the U.S. Agency for International Development (USAID), and are included as a component of the expenditures in the Schedule.
International Medical Corps has anti fraud policies that require all allegations of corruption or fraud to be reported and evaluated. If allegations are found to be credible, the incident is investigated and remediated as appropriate. Issues are also reported to funding agencies and, for USAID awards, the USAID Office of Inspector General per the requirements in 2 CFR 200.113. After investigation, International Medical Corps credits the relevant award for any identified unallowable costs. International Medical Corps has credited direct costs of approximately $121,790 to the federal government during the year ended June 30, 2025 related to fraud or suspected fraud in International Medical Corps programs. As the credited direct costs have been removed from the relevant federal awards, along with associated indirect costs, they are either not included in or are represented by a negative amount in the Schedule of Expenditures of Federal Awards.