Trout CPA Blog | Tax & Business-Related Topics

FAQS About PA’s New Audit Requirement Thresholds for Non-profits

Written by Brian Groff, CPA | Jan 19, 2018 7:58:32 PM

What are the new PA audit requirement thresholds?

The new thresholds are:

Gross Contributions

Type of Financial Statements Required

Below $100,000

Optional

$100,000 to $249,999

Compiled, Reviewed, or Audited

$250,000 to $749,999

Reviewed or audited

$750,000 or more

Audited

 

When will the new thresholds be effective?

The new thresholds will be effective for nonprofits with fiscal year ends of 3/31/17 and later.

 

What is considered a gross contribution?

  • Gross receipts from fundraising events
  • Federated campaign contributions
  • Contribution portion of membership dues
  • Gross receipts from gaming activities
  • Donations from related organizations
  • General contributions

What is excluded from gross contribution?

  • Government grants or contracts
  • Program service fees
  • Value of donated services