Notes to SEFA
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Restore Hope Ministries, Inc. under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), 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 Restore Hope Ministries, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Restore Hope Ministries, 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.
The Organization has elected to not utilize the 10.0% de Minimis indirect cost rate.