Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Black Belt Community Foundation under programs of the federal government for the year ended December 31, 2025. The information in this 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of Black Belt Community Foundation, it is not intended to and does not present the financial position, changes in net position, or cash flows of Black Belt Community 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 allowed or are limited as to reimbursement.
Black Belt Community Foundation has elected to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended December 31, 2025, Black Belt Community Foundation did not pass through any federal awards to subrecipients.