Section 700.13 - [Effective 10/1/2024] Additional provisions for awards to for-profit entities(a) This paragraph contains additional provisions that apply to awards to for-profit entities. These provisions supplement and make exceptions for awards to for-profit entities from other provisions of this part. (1) Prohibition against profit. The agency or pass-through entity will not provide funds as profit to any for-profit entity receiving or administering Federal financial assistance as a recipient or subrecipient. Federal financial assistance does not include contracts as defined at 2 CFR 200.1 , other contracts a Federal agency uses to buy goods or services from a contractor, or contracts to operate Federal government owned, contractor operated facilities (GOCOs). Profit is any amount in excess of allowable direct and indirect costs.80 FR 55722, Sept. 17, 2015, as amended at 87 FR 60059, Oct. 4, 2022 87 FR 60059, 11/3/2022; 89 FR 63074, 10/1/2024