Notes to SEFA
The accompanying schedule of federal awards (the Schedule) includes federal award activity of The Empowerment Program, Inc. (Empowerment) 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 Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Empowerment, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Empowerment.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
This schedule reports loans at the balance at the beginning of the fiscal year, July 1, 2024. The loan balance at the end of the year, June 30, 2025, remains the same amount of $349,547.
There were no awards passed through by Empowerment to subrecipient for the year ended June 30, 2025.