Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (“SEFA”) presents the federal award activity of Hispanic-American Institute, Inc. for the year ended December 31, 2025. The SEFA is presented on the accrual basis of accounting and is derived from the Institute’s accounting records. Federal award expenditures are recognized in accordance with the requirements of 2 CFR §200.502, which generally provides that expenditures are recognized when the related activity occurs. All federal awards presented in the SEFA for 2025 were received directly from federal awarding agencies. Amounts reported in the SEFA are included in the Institute’s accounting records and are a component of government grant revenue reported in the accompanying financial statements
The Institute did not provide federal funds to subrecipients for the year ended December 31, 2025.
Assistance Listing Numbers (“ALNs”) are presented for each federal program shown in the SEFA. If a federal awarding agency does not assign or communicate an ALN, another identifying number is presented, when available.
The Institute has elected to use the de minimis indirect cost rate permitted under 2 CFR §200.414(f). For federal awards subject to the revised Uniform Guidance, the Institute applies a 15% de minimis rate to modified total direct costs. For awards that remain subject to the prior Uniform Guidance, the Institute applies the indirect cost rate permitted by the applicable award terms and conditions.
The Institute did not receive any noncash federal assistance during the year ended December 31, 2025, and had no loan or loan guarantee balances subject to 2 CFR §200.502(b) outstanding at December 31, 2025.