Does a New York Nonprofit Need an Audit?
New York requires an independent CPA audit report when a registered charity's gross revenue and support exceeds $1 million. From $250,000 up to and including $1 million a CPA review report is filed instead.
Data as of Sep 16, 2026 · Source: Federal Audit Clearinghouse (public data)
Does a New York nonprofit need an audit?
New York requires an independent CPA audit report when a registered charity's gross revenue and support exceeds $1 million. From $250,000 up to and including $1 million a CPA review report is filed instead.
| Topic | Applies to | Rule | Threshold | Source | Last verified |
|---|---|---|---|---|---|
| State law — audit | gross revenue and support in excess of $1,000,000 in a fiscal year | Every charitable organization registered or required to be registered under Executive Law § 172 which receives in any fiscal year gross revenue and support in excess of one million dollars must file with the attorney general an annual written financial report, on or before the fifteenth day of the fifth calendar month after the close of that fiscal year, accompanied by an annual financial statement which includes an independent certified public accountant's audit report containing an opinion that the financial statements are presented fairly in all material respects and in conformity with generally accepted accounting principles. Because the statute says "in excess of", gross revenue and support of exactly $1,000,000 falls in the review tier rather than the audit tier. | $1,000,000 | N.Y. Exec. Law § 172-b(1) | Last verified: 2026-09-16 |
| State law — review | gross revenue and support of at least $250,000 but not more than $1,000,000 | Every registered charitable organization which receives in gross revenue and support in any fiscal year at least two hundred fifty thousand dollars but not more than one million dollars files an annual financial report accompanied by an annual financial statement which includes an independent certified public accountant's review report. If upon review of that report the attorney general determines that the organization should obtain an audit report, it must obtain and file one within one hundred twenty days of the attorney general's request. | $250,000 | N.Y. Exec. Law § 172-b(2) | Last verified: 2026-09-16 |
Common questions
Does a New York nonprofit need an audit?
New York requires an independent CPA audit report when a registered charity's gross revenue and support exceeds $1 million. From $250,000 up to and including $1 million a CPA review report is filed instead.
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.