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Updated September 20, 2024PI Name: ___Project Title: ___ANNEX ACRITERIA QUESTIONNAIRE1) Will the direct costs of the project exceed $1 million per year and will at least 50% of such costs be expended
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How to fill out ascendium indirect cost rate

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How to fill out ascendium indirect cost rate

01
Gather all relevant financial documents for the previous fiscal year, including direct costs.
02
Identify all indirect costs related to your organization's operations.
03
Classify the direct and indirect costs accurately based on guidelines provided by Ascendium.
04
Calculate the total indirect costs and total direct costs.
05
Divide total indirect costs by total direct costs to obtain the indirect cost rate.
06
Complete the necessary forms provided by Ascendium, entering your calculated indirect cost rate.
07
Review the forms for accuracy and completeness before submission.
08
Submit your filled-out forms to Ascendium by the designated deadline.

Who needs ascendium indirect cost rate?

01
Organizations and entities that receive funding from Ascendium for educational programs and projects.
02
Non-profit organizations that are required to report indirect costs when applying for grants or reimbursements.
03
Financial officers or grant coordinators responsible for budgeting and financial reporting.

What is Ascendium Indirect Cost Rate Form?

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The Ascendium indirect cost rate is a percentage that represents the indirect costs associated with administering federal funds or grants, which can be recovered to support the operational expenses of an organization.
Organizations that receive federal funding and wish to claim reimbursement for their indirect costs are required to file the Ascendium indirect cost rate.
To fill out the Ascendium indirect cost rate, eligible organizations must complete the required forms documenting their total costs, including both direct and indirect expenses, and calculate the applicable rate as per federal guidelines.
The purpose of the Ascendium indirect cost rate is to help organizations recover a portion of their indirect costs related to federally funded projects, ensuring that they can sustain their operations while performing funded activities.
Organizations must report detailed financial data, including total direct costs, indirect costs, and the ratio used to calculate the indirect cost rate.
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