Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Mission Neighborhood Centers, Inc., ("MNC") for the year ended June 30, 2025. The information in this schedule is presented in accordance with the requirements of the Office of Management and Uniform Guidance, Audits of States, Local Government, and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of Mission Neighborhood Centers, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Mission Neighborhood Centers, Inc. Federal awards received directly from federal agencies are designated as “Direct Program”. Any federal awards passed through from other grantor agencies, if any, is designated as “Pass-through” on the Schedule.
The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the MNC's consolidated financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
MNC has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
MNC did not provide any federal awards to sub-recipients for the year ended June 30, 2025.
There were no loans or loan guarantees outstanding at year end related to the federal and state awards disclosed on the Schedule of Expenditures of Federal and Non-federal Awards.