The Grants Quality Service Management Office has formally validated IBC for inclusion in the Grants QSMO Marketplace. The Marketplace promotes the concept of standardization for grants management processes governmentwide to improve the grants applicants and recipients experience.
The Grants QSMO Marketplace is an online catalog of Grants QSMO-validated federal shared solutions and services for use by all federal agencies that award grants and cooperative agreements. It provides federal agency with information to support decisions about adoption of shared solutions and services across the entire grants life cycle.
As a federal shared service provider, IBC serves the federal financial assistance grants and acquisition contracts community. IBC negotiates indirect cost rate agreements with non-federal entities and on behalf of the Department of Interior and other cognizant federal agencies. These indirect cost rates are negotiated in accordance with OMB Circular 2 CFR 200.
In January 2021, HHS became the designated agency for the Grants QSMO with a goal of transforming governmentwide grants management end-to-end. Created by OMB in Memorandum M-19-16, Centralized Mission Support Capabilities for the Federal Government, QSMOs are tasked with offering and managing a marketplace of systems and service solutions.