Do We Need a Single Audit This Year?
A single audit is required when a nonprofit expends at or above the threshold in federal awards in one fiscal year: $1,000,000 for a fiscal year beginning on or after 2024-10-01, and $750,000 before that. Enter your fiscal-year start and the federal awards you expended, and this page tells you which threshold applies.
Source: 2 CFR 200.501 · Last verified: 2026-09-20.
How is the threshold applied to our fiscal year?
The threshold is decided by the date the fiscal year begins, not by the date it ends and not by the date the report is filed. A year beginning on or after 2024-10-01 uses $1,000,000; a year beginning before it uses $750,000.
What if we are just under the threshold?
Then no single audit is required for that year on the federal threshold alone. Your state, your bylaws or a funder may still require an audit: see nonprofit audit requirements by state.
What happens next?
If you need an audit, you can find firms that audit nonprofits in your state, build a request for proposals and post it for CPA firms at no cost. Once the audit is done, check when it is due at the FAC.