Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of The Rosamond Gifford Charitable Corporation (the Corporation) 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 the Corporation, it is not intended to and does not present the financial position, results of operations, changes in net assets or cash flows of the Corporation.
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 Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended December 31, 2025, the Corporation passed through federal awards totaling $1,005,385 to subrecipients under the U.S. Department of Justice Project Safe Neighborhoods program. These amounts are included in the accompanying Schedule of Expenditures of Federal Awards.