Audit 41889

Title: Note 5. Endowments Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the Organization under programs of the federal government for the year ended December 31, 2022. 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 or the operations of the Organization, it is not intended to and does not present the financial position, changes in net position or cash flows of the Organization. Note 2. Summary of Significant Accounting PoliciesExpenditures 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. Note 4. Federally Funded Insurance The Organization has no federally funded insurance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Organization has the following endowments as of December 31, 2022: National Science Foundation Endowment $ 4,000,000 Original amount not yet expended Endowment earnings during 2022 $ 62,619 Amount expended during 2022. Expiration date: September 30, 2091 National Aeronautics and Space Administration Endowment $ 3,000,000 Original amount not yet expended Endowment earnings during 2022 $ 46,094 Amount expended during 2022. Expiration date: Not specified United States Department of AgricultureEndowment $ 1,900,000 Original amount not yet expended Endowment earnings during 2022 $ 29,849 Amount expended during 2022. Expiration date: 99 years, starting in 1993Environmental Protection Agency Congressionally Mandated Projects Endowment $ 2,000,000 Original amount not yet expended Endowment earnings during 2022 $ 31,169 Amount expended during 2022. Expiration date: 99 years, starting in 1993