Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Grace Like Rain, Inc. dba Giving Grace (Organization). The information in this Schedule is presented in accordance with the audit 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 only presents a selected portion of the operations of the Organization, it is not intended and does not present the financial position, changes in net assets or cash flows of the Organization.
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 Organization has not elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization recognized grants totaling $1,279,829, including $901,978 from which the Organization was a beneficiary of a Coronavirus State and Local Fiscal Recovery Funds grant through Denton County, that were included in government grant revenue on the consolidated statement of activities that were not subject to the audit requirements of the Uniform Guidance during the year ended December 31, 2025 and therefore were not included on the Schedule.