Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (SEFA) includes thefederal award activity of the Foundation under the programs of the federal governmentfor the year ended December 31, 2022. The information in the SEFA is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the SEFA presents only a selectedportion of the operations of the Foundation, it is not intended to, and does not, present thefinancial position, changes in net assets, or cash flows of the Foundation.2. Summary of Significant Accounting PoliciesExpenditures reported on the SEFA are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the UniformGuidance. The cost principles indicate that certain types of expenditures are notallowable or reimbursements of allowable costs are limited as to reimbursement.3. Indirect Cost RateThe Foundation has elected to use the 10% de minimis indirect cost rate as allowed underthe Uniform Guidance.4. Reconciliation to Financial StatementsReconciliation between federal expenditures per the SEFA and grants and contributionsrevenue per the accompanying statement of activities for the year ended December 31,2022 is as follows:Federal expenditures per the schedule ofexpenditures of federal awards $ 1 4,505,782Add: non-federal grants 14,997,822Add: individual contributions 7,286,778Grants and contributions per statement ofactivities $ 36,790,382
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.