Does a Minnesota Nonprofit Need an Audit?
Minnesota requires a registered charitable organization with total revenue over $750,000 in the year covered by its financial statement to file an audited statement examined by an independent CPA.
Data as of Sep 20, 2026 · Source: Federal Audit Clearinghouse (public data)
Does a Minnesota nonprofit need an audit?
Minnesota requires a registered charitable organization with total revenue over $750,000 in the year covered by its financial statement to file an audited statement examined by an independent CPA.
| Topic | Applies to | Rule | Threshold | Source | Last verified |
|---|---|---|---|---|---|
| State law — audit | total revenue in excess of $750,000 for the 12 months covered by the statement | A financial statement of a charitable organization which has received total revenue in excess of $750,000 for the 12 months of operation covered by the statement shall be accompanied by an audited financial statement prepared in accordance with generally accepted accounting principles that has been examined by an independent certified public accountant for the purpose of expressing an opinion. | $750,000 | Minn. Stat. § 309.53, subd. 3 | Last verified: 2026-09-20 |
| State law — donated food excluded from the threshold | nonprofit food shelves computing the $750,000 total revenue threshold | For purposes of calculating the $750,000 total revenue threshold provided by this subdivision, the value of donated food to a nonprofit food shelf may not be included if the food is donated for subsequent distribution at no charge, and not for resale. | — | Minn. Stat. § 309.53, subd. 3 | Last verified: 2026-09-20 |
Common questions
Does a Minnesota nonprofit need an audit?
Minnesota requires a registered charitable organization with total revenue over $750,000 in the year covered by its financial statement to file an audited statement examined by an independent CPA.
How does this differ from the federal single audit?
The federal single audit applies when a nonprofit spends $1,000,000 or more in federal awards in a fiscal year beginning on or after October 1, 2024 ($750,000 for earlier fiscal years). State rules are separate and are listed on this page.