Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of International Fund for Animal Welfare, Inc. (the Organization) under the 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 Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on 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. Cash advances made to subrecipients are reported on the Schedule when the disbursement is made.
The Organization has not elected to use the 10% or 15% de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2025, the Organization received $170,509 from subrecipients representing repayments of advances originally made during the year ended June 30, 2024. In addition, during the year ended June 30, 2025, advances to subrecipients totaling $57,658 were returned, or have been requested to be returned to the Organization. These repayments to the Organization represented funds not yet spent by subrecipients and were a result of the termination of the USAID program grants. These amounts are not included in the accompanying Schedule.