Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) has been prepared as required under the Office of Management and Budget (OMB) Uniform Guidance. The purpose of the schedule is to present a summary of those activities of New York Edge, Inc. for the year ended June 30, 2025 using the accrual basis of accounting. For purposes of this schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loans and loan guarantees, and other noncash assistance. Because the schedule presents only a selected portion of the activities of the Organization, it is not intended to, and does not, present either the financial position, or statement of activities and other changes in net assets of the Organization.
Indirect costs are charged to federal grants and contracts when applicable at a predetermined rate and the Organization has not elected to use the 10 percent de-minimis indirect cost rate allowed under the Uniform Guidance for any contracts that lacks a predetermined rate. Effective October 1, 2024, the de-minimis cost rate was increased to 15 percent.
None of the federal awards presented in the accompanying schedule of expenditures of federal awards were provided to sub-recipients for the year ended June 30, 2025.
Federal awards received in which the Organization has determined it is a beneficiary, not a sub-recipient as defined at 45 CFR 75.2, have not been included in the accompanying schedule of expenditures of federal awards. During the year ended June 30, 2025, the Organization expended $3,103,836 under a childcare stabilization care grant as a beneficiary of the federal program.