Notes to SEFA
The accompanying schedule of expenditures of federal awards presents expenditures for all federal assistance awards that were in effect for the year ended December 31, 2025 for BEAT AIDS Coalition Trust (the “Organization”). The Organization’s reporting entity is described in Note 1 of the basic financial statements.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this 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. Because 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.
Expenditures reflected on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, “Cost Principles for Non-Profit Foundations”, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
There were no loans or loan guarantees outstanding at year end. The Organization has elected not to use the 15 percent de minimis indirect cost rate. The Organization disbursed $21,735 in federal awards to subrecipients for the year ended December 31, 2025.
The following is a reconciliation of total federal expenditures in the schedule of expenditures of federal awards and total grant income in the statement of activities for the year ended December 31, 2025: Grant income per statement of activities $ 4,909,172 Less: local grant revenues (92,419) Total expenditures of federal awards $ 4,816,753