Nonprofits to Get Slice of Federal Grants for Overhead Costs

credit: Flickr by William Fairminer

The Office of Management and Budget has laid out a new rule indicating that nonprofits will now be able to secure up to 10 percent out of their federal grants and contracts to pay for overhead, or "indirect" costs.

Additionally, the budget office raised the threshold for nonprofits that must go through special audits, from $500,000 in annual federal support to $750,000.

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