Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule or SEFA) includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this Schedule 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 (Uniform Guidance). Federal awards are received on a reimbursement basis. The following is a reconciliation of the federal expenditures shown in the statement of activities and changes in net assets under the net assets released from restrictions caption and the total expenditures in the Schedule of Expenditures of Federal Awards for the year ended June 30, 2025. Federal Expenditures per Function: Total salaries, payroll taxes and fringe benefits 1,167,352$ Operating and administrative expenses 2,683,451 Indirect costs 72,702 Total federal expenditures for the year ended June 30, 2024 as per the Schedule of Expenditures of Federal Awards 4,023,505 Add: Other program services expenditures 3,227,231 Less: Property and equipment adquisitions (1,812,105) Total program services expenditures $ 5,438,631
Matching costs, such as the nonfederal share of certain program costs, are not included in the accompanying Schedule.
The Organization has not elected to use the 10% “de minimis” indirect cost rate allowed under the Uniform Guidance.
Uniform Guidance defines a cluster of programs as a grouping of closely related programs that have similar compliance requirements. The Schedule includes the TRIO programs (CFDA 84.044 and 84.047), which are considered a cluster in accordance with the OMB Compliance Supplement: Cluster Federal Program CFDA ProgramTRIO Cluster Talent Search 84.044Upward Bound 84.047