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This document outlines the procedures and requirements for the Indirect Cost Allocation Plan/Indirect Cost Rate Proposal (ICAP/ICRP) for local agencies engaging in agreements with federal and state

How to fill out sample indirect cost rate

How to fill out Sample Indirect Cost Rate Proposal

1. Gather relevant financial data for your organization, including the last fiscal year’s financial statements.
2. Identify your indirect cost pools and direct cost base.
3. Complete the Indirect Cost Rate Proposal form by filling out sections related to your organization’s expenses, revenue, and allocation methods.
4. Justify the indirect costs by explaining how they relate to your organization's overall operations.
5. Review and ensure compliance with federal guidelines and regulations if applicable.
6. Collect supporting documents and evidence for all indirect costs claimed.
7. Submit the completed proposal to the appropriate agency or organization that oversees indirect cost rate negotiations.
8. Follow up for any necessary revisions or clarifications requested by the reviewing agency.

Who needs Sample Indirect Cost Rate Proposal?

1. Organizations receiving federal funding or grants that require reimbursement for indirect costs.
2. Nonprofits, educational institutions, and governmental agencies that need to establish a formal indirect cost rate.
3. Any entity looking to recover indirect costs associated with their programs or services.

People Also Ask about

Does NSF pay indirect costs?

NSF does not negotiate indirect cost rates for organizations that are not direct recipients of NSF funding — such as subrecipients — or for foreign organizations. NSF's Cost Analysis and Pre-Award Branch is responsible for negotiating and issuing indirect cost rates for NSF's cognizant awardees.

What if an organization proposes an indirect cost rate but has no nicra?

The federal government has determined that an up to 15% de minimis indirect rate is an acceptable minimum for organizations without a NICRA, as such NFWF reserves the right to scrutinize ALL proposals with indirect rates above 15% for cost-effectiveness.

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 managers decide whether a cost is a direct or an indirect cost?

Direct costs are costs that can be attributed to a specific product or service, and they do not need to be allocated to the specific cost object. Indirect costs are costs that cannot be easily associated with a specific product or activity because they are involved in multiple activities.

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 to prepare an indirect cost rate proposal?

Checklist of required documents Cover letter. Organizational information. Finalized financial reports for the year under review. Indirect cost rate calculation. Allocation of salaries and wages. Statement of employee benefits. Identification and description of any unusual factors which affect the proposed rates.

What is Nicra negotiated indirect cost rate agreement?

A NICRA is a legal document between the federal government and the applicant nonprofit that formalizes the indirect cost rate the applicant can use on grant budgets.

What is an example of an indirect cost rate?

Rent, employer's portion of payroll taxes, your cell phone bill, and general management and accounting are examples of indirect costs.

For pdfFiller’s FAQs

What is Sample Indirect Cost Rate Proposal?

The Sample Indirect Cost Rate Proposal is a document used by organizations to outline their indirect costs and request reimbursement rates from federal or state agencies.

Who is required to file Sample Indirect Cost Rate Proposal?

Organizations that receive federal funding or grants are typically required to file a Sample Indirect Cost Rate Proposal to establish their allowable indirect cost rate.

How to fill out Sample Indirect Cost Rate Proposal?

To fill out the Sample Indirect Cost Rate Proposal, organizations must gather financial data, complete the necessary forms including indirect cost calculations, and submit the proposal along with supporting documentation to the appropriate agency.

What is the purpose of Sample Indirect Cost Rate Proposal?

The purpose of the Sample Indirect Cost Rate Proposal is to communicate an organization's indirect costs to funding agencies, allowing them to establish a fair and equitable reimbursement rate.

What information must be reported on Sample Indirect Cost Rate Proposal?

The Sample Indirect Cost Rate Proposal must report information such as the total indirect costs, direct costs, the proposed indirect cost rate, and any applicable federal guidelines or cost allocation bases.