Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Impact 46, Inc. 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of Impact 46, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Impact 46, Inc.
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.
Impact 46, Inc. did not elect to use the 10% or 15% de minimis indirect cost rates as allowed under the Uniform Guidance.
Impact 46, Inc. did not provide any federal funds to subrecipients nor did it receive any federal noncash assistance, insurance, loans, or loan guarantees.