Audit 410983

Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the expenditures of all federal awards of The McConnell Foundation (“Foundation”) for the year ended December 31, 2025 and is presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. 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 (Uniform Guidance). 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 are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Foundation has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.