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Hello Wade. This certainly looks like encouraging news for many nonprofits. The increase to a 15 percent de minimis rate is particularly interesting. I think the changes around reimbursement could also make a meaningful difference. Having access to funds sooner can ease some of the cash flow pressure smaller organisations face when managing federal grants. It could also lower some of the practical barriers for smaller nonprofits considering federal funding. I would be interested to see whether these changes encourage more organisations to apply.