Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Modern Maturity Center, Inc. and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance); therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
As permitted by the Uniform Guidance, a 15% de minimis indirect cost rate is allowed. For the year ended December 31, 2025, The Modern Maturity Center, Inc. has elected to use a 10% de minimis indirect cost rate.