Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal grant activity of The Community Foundation of Middle Tennessee, Inc., Supporting Organization, and Subsidiaries (the Foundation) under programs of the federal government for the year ended December 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Tennessee Audit Manual issued by the Comptroller of the Treasury of the State of Tennessee. Because the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
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.
The Foundation has elected to use the 10% (or 15%, if applicable) de minimis indirect cost rate as allowed under the Uniform Guidance when an approved indirect cost rate has not been available.
The Foundation does not pass any federal awards through to subrecipients.