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ii. By the end of the month following the month during which you make <br /> the subaward. For example, if a subaward is obligated on any date <br /> during the month of October of a given year(i.e., between October 1 <br /> and 31), you must report any required compensation information of <br /> the subrecipient by November 30 of that year. <br /> d. Exemptions. <br /> If, in the previous tax year, you had gross income, from all sources, under$300,000, <br /> you are exempt from the requirements to report: <br /> i. Subawards, and <br /> ii. The total compensation of the five most highly compensated <br /> executives of any subrecipient. <br /> e. Definitions. For purposes of this award term: <br /> 1. Entity means all of the following, as defined in 2 CFR Part 25: <br /> i. A Governmental organization, which is a State, local government, or <br /> Indian tribe; <br /> ii. A foreign public entity; <br /> iii. A domestic or foreign nonprofit organization; <br /> iv. A domestic or foreign for-profit organization; <br /> v. A Federal agency, but only as a subrecipient under an award or <br /> subaward to a non-Federal entity. <br /> 2. Executive means officers, managing partners, or any other employees in <br /> management positions. <br /> 3. Subaward. <br /> i. This term means a legal instrument to provide support for the <br /> performance of any portion of the substantive project or program for <br /> which you received this award and that you as the recipient award to an <br /> eligible subrecipient. <br /> ii. The term does not include your procurement of property and services <br /> needed to carry out the project or program(for further explanation, see <br /> 1 <br />