This module provides a comprehensive introduction to indirect costs, crucial for any organization managing grant funds. Participants will learn about the nature of indirect costs, the calculation of indirect cost rates, and the options available for establishing these rates. We will discuss the importance of having a negotiated indirect cost rate agreement (NICRA) or using the Federal 10% de minimis rate. Additionally, this module will cover key reminders and the centralized indirect cost rate process required for State of Illinois grantees. By the end of this module, you will have a solid understanding of how to manage and allocate indirect costs effectively within your organization.