Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activities of The Genesis Fund under the programs of the federal government for the year ended March 31, 2026. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements of Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of The Genesis Fund, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Genesis Fund.
Expenditures 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. Pass-through entity identifying numbers are presented where available.
The organization does not provide grants to subrecipients
The Genesis Fund has not elected to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.