Get the free Indirect Cost Rate Submission Form

This document outlines the procedures and required signature for submitting an indirect cost rate request for sponsored projects, including predefined rates and justifications for alternate rates.

How to fill out indirect cost rate submission

How to fill out Indirect Cost Rate Submission Form

1. Obtain the Indirect Cost Rate Submission Form from the appropriate agency or organization.
2. Review the instructions and guidelines provided with the form.
3. Fill in basic information: include the organization's name, address, and contact information.
4. Enter the fiscal year for which the indirect cost rate is being submitted.
5. Provide a detailed breakdown of all indirect costs, categorizing them appropriately.
6. Calculate the indirect cost rate by dividing total indirect costs by the total direct costs.
7. Include documentation and justification for all costs listed in the form.
8. Review the completed form for accuracy and completeness.
9. Submit the form by the specified deadline to the appropriate agency.

Who needs Indirect Cost Rate Submission Form?

1. Organizations that receive federal funding or grants and need to establish an indirect cost rate.
2. Non-profit entities requiring reimbursement for overhead costs associated with grant programs.
3. Educational institutions applying for federal awards or contracts.

People Also Ask about

Who approves the indirect cost rate?

The cognizant agency for indirect costs means the Federal agency responsible for reviewing, negotiating, and approving cost allocation plans or indirect cost proposals developed under this part on behalf of all Federal agencies.

What is a reasonable indirect cost rate for nonprofits?

What is the Average Indirect Cost Rate for Nonprofits? While no two nonprofit organizations will have identical needs, structures, or budgets, an indirect cost rate of between ten and fifteen percent has served as a longstanding rule of thumb.

How do you get a federally approved indirect cost rate?

Indirect costs are allocated using an indirect cost rate (ICR). An organization can either use the de minimis ICR or establish a negotiated ICR with a cognizant federal agency, such as the U.S. Department of Justice. The ICR will then apply across all federal grant programs that an organization operates.

What is the IDC rate for NSF?

Example: A research university with a 55% negotiated IDC rate that receives $100 million annually in NIH grants would typically recover $55 million in indirect costs. Under the new 15% cap, that institution would receive only $15 million, leaving a $40 million funding gap per year.

How do you get a federal indirect cost rate?

Indirect costs are allocated using an indirect cost rate (ICR). An organization can either use the de minimis ICR or establish a negotiated ICR with a cognizant federal agency, such as the U.S. Department of Justice. The ICR will then apply across all federal grant programs that an organization operates.

How do I determine who my cognitive agency for indirect costs is?

How do I know which federal agency is my cognizant agency? Your cognizant agency for negotiating indirect cost rates is the federal agency that provides the majority of your federal funding (2 CFR part 200, App VII, sec. F).

How long does it take to get a nicra?

Be aware the process for establishing a Negotiated Indirect Cost Rate Agreement (NICRA) can take up to six months (180 days) from the time NIFA receives the ICP. Also, NIFA may issue the award, but withhold funds budgeted for indirect costs pending completion of the indirect cost rate negotiation process.

For pdfFiller’s FAQs

What is Indirect Cost Rate Submission Form?

The Indirect Cost Rate Submission Form is a document used by organizations to request approval for indirect cost rates from a federal agency or a funding body. This form captures the organization's indirect costs, which are expenses not directly tied to a specific project or program.

Who is required to file Indirect Cost Rate Submission Form?

Organizations that receive federal funding and wish to claim indirect costs must file the Indirect Cost Rate Submission Form. This typically includes non-profit organizations, state and local governments, and educational institutions.

How to fill out Indirect Cost Rate Submission Form?

To fill out the Indirect Cost Rate Submission Form, organizations should gather their financial data, such as their indirect costs, financial statements, and any other required documentation. They should follow the specific instructions provided by the funding agency, ensuring to accurately complete each section of the form and provide necessary supporting documentation.

What is the purpose of Indirect Cost Rate Submission Form?

The purpose of the Indirect Cost Rate Submission Form is to establish a fair and federally negotiated rate for indirect costs that organizations can claim on government-funded projects. This enables organizations to receive reimbursement for overhead costs associated with their projects.

What information must be reported on Indirect Cost Rate Submission Form?

The Indirect Cost Rate Submission Form must report information such as the organization's indirect cost structure, financial statements, a breakdown of cost categories, and calculations to support the proposed indirect cost rates. Additionally, organizations must provide details about their methodology used to determine the indirect costs.