Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activities of the 90Works Inc., 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 Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Audits of States, Local Governments, and Non-Profit Organizations. Because this schedule presents only a selected portion of the operation of the 90Works Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the 90Works Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, Cost principles for Non- Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
90Works Inc. has elected not to use the 10% de minimis indirect cost rate which is allowed by the Uniform Guidance. The Organization instead uses a provisional rate of 15% based on total direct costs less anycapital expenditures.