FAC Explorer

Audit 404458

FY End
2025-06-30
Total Expended
$871,803
Findings
3
Programs
3
Organization: Grameen Foundation (DC)
Year: 2025 Accepted: 2026-06-23
Auditor: GELMAN ROSENBERG & FREEDMAN

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1218203 2025-001 Material Weakness Yes L
1218204 2025-001 Material Weakness Yes L
1218205 2025-001 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
98.001 USAID FOREIGN ASSISTANCE FOR PROGRAMS OVERSEAS $466,425 Yes 1
19.801 OFFICE OF GLOBAL WOMEN'S ISSUES $331,988 Yes 1
98.345 Strengthening Women’s Participation in the Workforce in Honduras $73,390 Yes 1

Contacts

Name Title Type
ENJUL1KALF63 Dana Rendall Auditee
2026283560 Walt Derengowski Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Grameen Foundation USA under programs of the Federal Government for the year ended June 30, 2025. Information in the 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 (Uniform Guidance). The Schedule presents only a selected portion of the operations of Grameen Foundation USA; accordingly, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Grameen Foundation USA.
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. Grameen Foundation USA has elected not to use the de minimis indirect cost rate as allowed under Uniform Guidance.

Finding Details

Finding 2025-001
Finding 2025-001: Late Submission of Audit Report to the Federal Audit Clearinghouse (Significant Deficiency) Federal Agencies: United States Agency for International Development; United States Department of State Federal Programs: All Programs Assistance Listing Numbers: 98.001; 19.801; 98.009; 98.345 Criteria: The Uniform Guidance, specifically 2 CFR 200.512(a), establishes the filing requirements for the submission of single audits to the Federal audit clearing house and indicates that the single audit reporting package must be submitted 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first. Condition: The single audit reporting package for Grameen's year ended June 30, 2024 was due to the Federal audit clearinghouse by March 31, 2025. However, the data collection form was submitted on June 6, 2025. Cause: During the 2024 audit process, fieldwork timelines had to be extended to accommodate the time Grameen needed to ensure that all schedules were properly reconciled and supported, which caused delays in the audit completion. As a result, the 2024 auditor's report(s) were dated June 23, 2025. Effect or Potential Effect: Not timely filing the single audit reporting package is indicative of timeliness issues with the audit process. Questioned Costs: None, as this is an administrative requirement. Context: As a result of delays in the completion of the 2024 audit, the single audit reporting package for the year ended June 30, 2024, was not submitted timely. Identification as a Repeat Finding, if Applicable: Refer to finding 2024-001. Recommendation: We recommend that management implement procedures and control processes to ensure that future audits are completed timely so that the single audit reporting package is submitted by the appropriate deadline of either 30 days after the date of the auditor's report(s) or 9 months after the end of the fiscal year, whichever comes first.