3/15 Finance Affinity Group

Nonprofit Westchester Finance Affinity Group

Making Sure Your Nonprofit Benefits from the OMB Uniform Guidance: Getting Reimbursed for Your Organization’s Indirect Costs

The Office of Management and Budget (OMB) established new regulations, effective December 26, 2014, that impacts virtually all nonprofits with federal, state, or local government grants and contracts. Most notably, now, whenever federal funds are involved, nonprofits must be reimbursed at least a minimum amount of their indirect costs. What many nonprofits have not been told in the past is that more often than not, their state and local grants and contracts include federal grant funds too, so the requirement applies in these cases as well. Learn what the mandates of the Uniform Guidance are and how to ensure your nonprofit benefits from them.