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Prepared by the Division of Cost Determination./DAMS/BOC/OAS AM/US DOL Updated on November 18, 2009, INDIRECT COST FORM (ICF) Instructions: This form must be completed by all organizations (non-profit,

How to fill out nicra form

How to fill out NICRA form:

1. Start by obtaining the NICRA form from the relevant authority or organization that requires it.
2. Read the instructions on the form carefully to understand the information and documents that are required.
3. Begin by providing your personal details such as name, address, contact information, and any other information requested.
4. Fill out the sections related to your organization, including its name, legal status, registration number, and any other relevant details.
5. Specify the purpose and objectives of your organization, along with the target beneficiaries and the geographical area it serves.
6. Provide details about your organization's financial management, including the sources of funding, budgeting procedures, and any financial audits conducted.
7. Describe the programs and activities your organization undertakes, including the strategies used and the impact achieved.
8. Include information about your organization's staff, including their roles, qualifications, and experience.
9. Attach any necessary supporting documents, such as financial statements, copies of registrations or certifications, and other requested paperwork.
10. Review the completed form to ensure all required fields are filled correctly and all necessary documents are attached.
11. Submit the NICRA form to the designated authority or organization as per their instructions.

Who needs NICRA form:

1. Organizations that receive funding or grants from government agencies or international bodies often need to fill out a NICRA form.
2. Non-profit organizations, NGOs, and charitable institutions that receive financial support may be required to complete a NICRA form.
3. Research institutions or universities conducting projects funded by external sources may need to fill out a NICRA form to establish indirect cost rates.
4. Any institution or organization involved in partnerships or collaborations that involve the redistribution of funds or resources may require a NICRA form.
5. Organizations seeking to establish a fair and reasonable indirect cost recovery mechanism may use the NICRA form to calculate indirect costs accurately.

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What is nicra form?

NICRA stands for Negotiated Indirect Cost Rate Agreement. It is a formal agreement between the government funding agency and a non-profit organization or institution that establishes the indirect cost rate (also known as the overhead rate or the Facilities and Administrative rate) that can be applied to their sponsored projects or grants. The NICRA form outlines the agreed indirect cost rate percentage, the specific cost pools included, and the methodology for calculating indirect costs. This form is typically used in the United States for organizations receiving federal funding.

Who is required to file nicra form?

The NICRA (Negotiated Indirect Cost Rate Agreement) form is required to be filed by organizations that receive federal funding and want to claim indirect costs on their grants and contracts. This includes non-profit organizations, educational institutions, and other entities that receive federal grants or contracts.

How to fill out nicra form?

Here are the steps to fill out a NICRA (Negotiated Indirect Cost Rate Agreement) form: 1. Review the instructions: Start by carefully reading and understanding the instructions provided with the NICRA form. These instructions will explain the purpose of the form and provide guidance on how to complete it accurately. 2. Gather necessary information: Collect all the relevant financial information required for the form. This may include financial statements, budgets, salary expenses, overhead costs, and other related data. 3. Determine the indirect cost rate: Calculate the indirect cost rate by dividing the total indirect costs by a suitable cost base. Typically, a cost base may be direct salaries and wages, modified total direct costs, or direct labor dollars. 4. Fill in the form: Record the required information on the NICRA form. This may include the organization name, address, accounting system details, fiscal year, and any other information specified in the form. Additionally, you will have to enter the indirect cost rate calculated in the previous step. 5. Attach supporting documentation: Attach any necessary supporting documentation to the form, as requested. This may include financial statements, reports, or other relevant documents that validate the information provided. 6. Review and double-check: Go through the completed form and all attached documents to ensure accuracy and completeness. Review all calculations, figures, and details to minimize errors. 7. Submit the form: Follow the submission guidelines provided in the instructions. Submit the completed form along with any required attachments to the appropriate authority or organization. 8. Follow up: If needed, follow up with the relevant authority to ensure that the form has been received and is being processed. Keep records of all communication related to the submitted form. Please note that the specific steps and requirements of the NICRA form may vary depending on the organization or funding agency. It is important to refer to the specific instructions and guidelines provided with the form to ensure compliance and accuracy.

What is the purpose of nicra form?

The purpose of NICRA (Negotiated Indirect Cost Rate Agreement) form is to establish the approved indirect cost rates that can be used by certain organizations or institutions receiving federal funds for their projects or programs. This form allows the parties involved to negotiate and determine the appropriate indirect cost rates, ensuring fair and reasonable reimbursement for indirect costs incurred during the implementation of federally-funded projects. By using the NICRA form, organizations and institutions can streamline the process of determining indirect cost rates, reducing administrative burdens and promoting consistency in cost recovery.

What information must be reported on nicra form?

The NICRA (Negotiated Indirect Cost Rate Agreement) form is a financial reporting document that determines the rate at which indirect costs are applied to grants and contracts for non-profit organizations. The specific information that must be reported on the NICRA form may vary depending on the requirements of the funding agency, but generally, it includes: 1. General organization information: This includes the name, address, telephone number, and taxpayer identification number (TIN) of the non-profit organization. 2. Accounting system description: A brief description of the organization's accounting system, including any reference to the applicable accounting standards (e.g., Generally Accepted Accounting Principles). 3. Types of costs: A breakdown of the different categories of costs incurred by the organization, such as direct costs, indirect costs, and unallowable costs. 4. Indirect cost rate calculation: The NICRA form requires the calculation of the indirect cost rate, which is usually based on a predetermined methodology specified by the funding agency. The calculation typically includes a detailed breakdown of direct and indirect costs, as well as the allocation basis used for indirect costs. 5. Documentation and support: The NICRA form may require the organization to provide documentation and support for the reported costs, such as payroll records, financial statements, time and effort reports, and other relevant receipts and invoices. 6. Certifications and signatures: The form usually includes a section for authorized individuals to certify the accuracy and compliance of the information provided. This may include signatures from the organization's executive director, financial officer, or other responsible personnel. It's important to note that the specific requirements for the NICRA form may vary depending on the funding agency's guidelines and the nature of the grant or contract. Non-profit organizations should refer to the specific instructions provided by the funding agency to ensure compliance with the reporting requirements.

What is the penalty for the late filing of nicra form?

The penalty for late filing of the NICRA (Negotiated Indirect Cost Rate Agreement) form can vary depending on the specific circumstances and the regulations of the governing body. In some cases, there may be a specific late filing fee or penalty specified in the guidelines. It is recommended to refer to the relevant agency or organization's regulations or reach out to them directly for precise information regarding penalties for late filing of the NICRA form.

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