Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the American Association for the Advancement of Science ("AAAS") under programs of the federal government for the year ended December 31, 2025. 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). Because the Schedule presents only a selected portion of the operations of AAAS, it is not intended to and does not present the financial position, changes in net assets or cash flows of AAAS.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
AAAS’ most recent indirect cost rate agreement provided a provisional rate of 28% applicable for fiscal year 2025. The Association will continue to use this rate, unless the actual rate is lower, until a new rate is approved by its oversight agency. The Association has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The following schedule is a reconciliation of total expenditures as shown on the schedule to the revenue recognized on the consolidated statements of activities and changes in net assets without donor restrictions for the year ended December 31, 2025; Grants and related activities... $23,028,646 Less Fixed Price contracts...(6,686,640) equals Total rederal revenues and expenditures $16,342,006.