Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Lieber Institute, Inc. (the "Institute") under programs of the federal government for the year ended June 30, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code ef Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements far Federal Awards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute.
For the year ended June 30, 2025, the Institute recognized $11,990,443 of revenue from federal/pass-through grants which is included in grant revenue in the Institute's statement of activities for the year ended June 30, 2025. The Institute recognizes federal revenue based on allowable direct and indirect costs incurred.