Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of PODER (the “Organization”) under programs of the federal government for the year ended June 30, 2025. The information in this SEFA 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. As the SEFA presents only a selected portion of the operations, so this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements of PODER.
There were no matching requirements for the federal awards reported on the SEFA for the year ended June 30, 2025.
The federal programs reported on the SEFA did not include noncash assistance or federally funded insurance for the year ended June 30, 2025.
The Organization renewed its line of credit agreement with Marquette Bank dated May 28, 2020. Borrowings under the line of credit are limited to $250,000 as defined in the agreement. Interest on outstanding borrowings is payable monthly based on the Bank’s variable interest rate plus 1.5%. The line of credit is secured by the general business assets of the Organization. In September 2024, the Organization borrowed $80,000 from the line of credit to cover operating expenses. As of June 30, 2025, the outstanding borrowing totaled $45,901.
PODER did not pass through any federal funds to subrecipients during the year ended June 30, 2025.