Does a Wisconsin Nonprofit Need an Audit?
Wisconsin requires a charitable organization that received contributions over $1,000,000 in its most recently completed fiscal year to file an audited financial statement with an independent CPA's opinion, and a reviewed statement where contributions were over $500,000 but not more than $1,000,000.
Data as of Sep 21, 2026 · Source: Federal Audit Clearinghouse (public data)
Does a Wisconsin nonprofit need an audit?
Wisconsin requires a charitable organization that received contributions over $1,000,000 in its most recently completed fiscal year to file an audited financial statement with an independent CPA's opinion, and a reviewed statement where contributions were over $500,000 but not more than $1,000,000.
| Topic | Applies to | Rule | Threshold | Source | Last verified |
|---|---|---|---|---|---|
| State law | contributions in excess of $1,000,000 during the most recently completed fiscal year | In addition to the annual report required under par. (a), if a charitable organization received contributions in excess of $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year, the charitable organization shall file with the department an audited financial statement for the charitable organization's most recently completed fiscal year, prepared in accordance with generally accepted accounting principles, and the opinion of an independent certified public accountant on the financial statement. | $1,000,000 | Wis. Stat. § 202.12(3)(b) (Internet Archive snapshot 2025-06-24) | Last verified: 2026-09-21 |
| State law | contributions in excess of $500,000 but not more than $1,000,000 | A reviewed financial statement for the most recently completed fiscal year of the charitable organization, if the charitable organization received contributions in excess of $500,000, subject to adjustment under sub. (8), but not more than $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year. The statement shall be prepared in accordance with generally accepted accounting principles and include a review of the financial statement by an independent certified public accountant. | $500,000 | Wis. Stat. § 202.12(1)(b)2g. (Internet Archive snapshot 2025-06-24) | Last verified: 2026-09-21 |
Common questions
Does a Wisconsin nonprofit need an audit?
Wisconsin requires a charitable organization that received contributions over $1,000,000 in its most recently completed fiscal year to file an audited financial statement with an independent CPA's opinion, and a reviewed statement where contributions were over $500,000 but not more than $1,000,000.
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.