Does a Tennessee Nonprofit Need an Audit?
Tennessee requires a charitable organization registering to solicit to file an audited financial statement if it grossed more than $500,000 in revenue, excluding grants from government agencies and 501(c)(3) private foundations. Organizations raising $30,000 or less may claim an exemption instead.
Data as of Sep 21, 2026 · Source: Federal Audit Clearinghouse (public data)
Does a Tennessee nonprofit need an audit?
Tennessee requires a charitable organization registering to solicit to file an audited financial statement if it grossed more than $500,000 in revenue, excluding grants from government agencies and 501(c)(3) private foundations. Organizations raising $30,000 or less may claim an exemption instead.
| Topic | Applies to | Rule | Threshold | Source | Last verified |
|---|---|---|---|---|---|
| State law | more than $500,000 in gross revenue, excluding grants from government agencies and 501(c)(3) private foundations | An audited financial statement if the organization grossed more than $500,000 in revenue, excluding grants from government agencies and 501(c)(3) private foundations. | $500,000 | Tennessee Secretary of State, Filing Instructions for the Initial Registration Form (June 2021 revision, TCA § 48-101-501 et seq.) | Last verified: 2026-09-21 |
Common questions
Does a Tennessee nonprofit need an audit?
Tennessee requires a charitable organization registering to solicit to file an audited financial statement if it grossed more than $500,000 in revenue, excluding grants from government agencies and 501(c)(3) private foundations. Organizations raising $30,000 or less may claim an exemption 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.