While the Uniform Guidance enables nonfederal entities to negotiate a federally negotiated indirect cost rate to assist in recovering these costs, many organizations still have not taken advantage of this benefit. The Uniform Guidance enables organizations concerned about the effort to determine such a rate to negotiate a 10% de minimis rate, and the recently revised version of the guidance made this option available to a wider range of recipients. Organizations owe it to their mission and to their stakeholders to take full advantage of and recover every dollar of funding that is available. In this session, we will discuss the basic principles of indirect cost recovery including direct vs indirect costs, pools vs bases, allocation methods, cost principles, distorting items, proposal timelines, and the application of rates.