Indirect Cost Rates and Cost Allocation: Best Practices Under New 2 CFR 200 Rules
A challenging part of running a high-performance nonprofit is understanding, using and documenting your indirect cost activities. Under Uniform Guidance — 2 CFR 200 — much of nonprofit grant management was simplified. However, indirect costs treatment became more complicated and risky for any nonprofit with an accounting system that includes indirect costs. In today’s “era of accountability” understanding and following the federal rules for cost allocation and dealing with indirect cost rates is a critical function for most nonprofits.
The past few years of nonprofit operations under 2 CFR 200 have taught our nonprofit community key areas of compliance, risk, best practices and auditor interests. 2 CFR 200 changed key rules such as non-federal entity types of indirect cost rates under federal awards, recognition of federal indirect cost rates, one-time rate extensions of a federally-approved negotiated indirect cost rate and many others. Knowing what the key changes are, how they are impacting nonprofits and what auditors focus on is not an easy job.
Rex Porter, CEO of Porter Group LLC and leading expert on federal grant management, will provide a clear explanation of key 2 CFR 200 indirect cost rates and cost allocation requirements as well as insight and guidance found in few other places. The result: Mastery of the changes affecting the very core of some of your nonprofit’s long-term strategies and day-to-day operations.
WHAT YOU’LL LEARN
A sampling of what this webinar will cover:
- Changes to cost allocation and indirect cost rate requirements likely having an impact on your nonprofit.
- Appropriate use of de minimis rates and other potential indirect cost rates.
- Options for how your organization best allocates costs.
- Necessary changes to your policies and procedures under the 2 CFR 200.
- Required changes to operational systems.
- Why a nonprofit might want to turn down receiving indirect cost reimbursements.
- And much more!
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