Title: NOTE 1 – PURPOSE OF THE SCHEDULE
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
Title: NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Title: Basis of Presentation
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Indirect cost rate
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Title: Federal Financial Assistance
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Title: Major Programs
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Title: Assistance Listing (AL)
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Title: Pass-through Federal Financial Assistance
Accounting Policies: LOVE PRAY PEACE PROJECT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
DECEMBER 31, 2022
NOTE 1 – PURPOSE OF THE SCHEDULE
The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented for purposes of additional analyses as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is not a required part of the financial statements.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
A summary of the Organization’s significant accounting policies and related information is provided below to assist the reader in interpreting the information presented in the Schedule.
Basis of Presentation – The information in the accompanying Schedule is presented under the accrual basis of accounting in accordance with the requirements of the Uniform Guidance. As the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Federal Financial Assistance – Pursuant to the Single Audit Act and Amendments and the Uniform Guidance, federal financial assistance is defined as assistance that non-federal organizations receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursements for services rendered to individuals for Medicare and Medicaid. The Organization received federal financial assistance for housing-related services.
Assistance Listing (AL) – The Schedule presents total expenditures for each federal financial assistance program as identified in the AL. The catalog is a compendium of federal programs, projects, services, and activities administered by departments and establishments of the federal government. Programs included in the catalog are assigned a five-digit program identification number (AL number). The first two digits of the AL number designate the federal agency and the latter three digits designate the federal assistance program within the federal agency.
Major Programs – The Single Audit Act and Uniform Guidance established a risk-based approach for defining major federal financial assistance programs. The Organization had one federal funding source, which has been designated as a major program for the fiscal year ended December 31, 2022.
Indirect cost rate – LP3 elected to not use the Federally allowed 10% de minimis indirect cost rate of overhead to recover allowable indirect costs to its programs.
Pass-through Federal Financial Assistance – The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.
De Minimis Rate Used: N
Rate Explanation: Actual expenditures were used instead of the de minimis rate.
The Organization received federal financial assistance indirectly from a pass-through entity. A pass-through entity is defined as a non-federal entity that provides federal assistance to a sub-recipient. The pass-through entity was the City of Philadelphia’s “Office of Homeless Services.” The Organization had no direct federal financial assistance.