Does a Virginia Nonprofit Need an Audit?
Virginia requires a soliciting charity to register and file a financial report, which may be IRS Form 990 rather than an audit: the options are a balance sheet and income statement with an independent accountant's opinion, an accountant-certified statement, or Form 990. A federal single audit, a funder, a lender or the organization's bylaws can still require an audit.
Data as of Nov 15, 2026 · Source: Federal Audit Clearinghouse (public data)
Does a Virginia nonprofit need an audit?
Virginia requires a soliciting charity to register and file a financial report, which may be IRS Form 990 rather than an audit: the options are a balance sheet and income statement with an independent accountant's opinion, an accountant-certified statement, or Form 990. A federal single audit, a funder, a lender or the organization's bylaws can still require an audit.
| Topic | Applies to | Rule | Threshold | Source | Last verified |
|---|---|---|---|---|---|
| State charity registration | Charitable organizations that intend to solicit contributions in Virginia, except as otherwise provided in the chapter | A charitable organization must file a registration statement with the Commissioner before any solicitation and refile it each following fiscal year. The statement must include a report for the organization's immediately preceding fiscal year, which may be: a balance sheet and income and expense statement with the opinion of any independent public accountant; a financial statement certified by an independent public accountant covering its fund-raising activities; or a copy of IRS Form 990. An organization whose annual gross revenue qualifies it to file Form 990-N may submit a balance sheet and income and expense statement verified under oath or affirmation by its treasurer. | — | Code of Virginia § 57-49. Registration of charitable organizations; prohibition against support of terrorists | Last verified: 2026-11-15 |
Who enforces this in Virginia?
The first rule in the table comes from Code of Virginia § 57-49. Registration of charitable organizations; prohibition against support of terrorists. Check that source for the Virginia office and the filing instructions that apply to your organization.
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.
Read what the single audit threshold means or check whether an organization needs a federal single audit.
Virginia nonprofit single audits in the federal data
The federal single audit is a separate requirement. These pages count the Virginia nonprofit filings in the Federal Audit Clearinghouse and the firms named on them.
Common questions
Does a Virginia nonprofit need an audit?
Virginia requires a soliciting charity to register and file a financial report, which may be IRS Form 990 rather than an audit: the options are a balance sheet and income statement with an independent accountant's opinion, an accountant-certified statement, or Form 990. A federal single audit, a funder, a lender or the organization's bylaws can still require an audit.