Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “SEFA”) includes the federal award activity of World Neighbors, Inc. (“WN”) under programs of the United States of America (“U.S.”) federal government for the year ended June 30, 2025. The information in the SEFA 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). Because the SEFA presents only a selected portion of the operations of WN, it is not intended to and does not present the financial position, changes in net assets or cash flows of WN.
Expenditures under the United States Agency for International Development’s cooperative agreements are reported on the SEFA on the accrual basis of accounting, consistent with WN’s basic financial statements.
The amounts shown as current year expenditures represent only the federal grant portion of WN’s program costs. Total program costs, including WN’s portion, are more than shown.
The amounts expended include an indirect cost recovery using the de minimis rate of 10% of modified total direct costs. Indirect cost recovery amounts for the year ended June 30, 2025 were: