MYCPE ONE
Nonprofit Audit

Nonprofit Audit Services for CPA and Accounting Firms

Reliable audit support priced by your client’s annual expenses, with clear pricing and no hidden add-ons.

See Audit Plans Schedule a Call
Total Annual Expenses
Decide Who Handles What
Who Handles It MYCPE ONE Your Firm
<$500K
Base Audit Fee Inclusions
$3,499
Contact us for a custom quote tailored to your organization.
Included <$500K
Planning & Risk Assessment
Engagement Acceptance & Independence iEngagement letter referencing GAAS and ASC 958, AICPA independence confirmation, predecessor auditor communication under AU-C 210, and review of the prior Form 990 and audit report
Audit Planning Memorandum iAudit strategy covering ASC 958 scope, materiality, donor restriction risk, grant compliance and functional expense methodology, timed to Form 990 and Single Audit deadlines
Kickoff Call with ED / CFO iLive call to confirm scope, walk the PBC list, understand the grant portfolio, classify donor restrictions and set the timeline against Form 990 and federal award deadlines
Risk Assessment iFraud risk in receipts and disbursements, donor restriction misclassification, grant compliance, conditional versus unconditional contributions under ASC 958-605, and functional allocation accuracy
Materiality Calculation iOverall materiality on an NP basis — total expenses, revenue or net assets, whichever fits — with performance materiality and the clearly trivial threshold documented per AICPA standards
Fraud Risk Assessment (AU-C 240) iBrainstorming, management inquiry and analytics aimed at NP-specific cycles: contribution receipts, grant disbursements and related party transactions involving board members
Understanding the Entity iMission, programs, funding sources, governance and key accounting policies documented per AU-C 315, from bylaws, board minutes and conflict of interest policies
Internal Control Walkthrough iTransactions traced through contribution receipts, grant disbursements, payroll, vendor payments and endowment management, with key controls and segregation of duties documented
Substantive Testing
Cash & Bank Confirmation iDirect confirmations for every account — operating, restricted and endowment custodial — reconciled to the general ledger, with restricted cash disclosure tested per ASC 230
Contribution Revenue (ASC 958-605) iContributions in cash, pledges, bequests and in-kind tested for correct period, correct restriction class, and contribution versus exchange treatment under ASC 958-605
Grant Revenue & Expenditure iGrant agreements tested for compliance; revenue recognised when conditions are met for conditional grants and on receipt for unconditional; expenditures tested against grant terms and cost principles
Donor Restrictions (ASC 958-205) iNet assets with donor restrictions — time, purpose and perpetual — tested for correct classification, segregation, and release only once the restriction is satisfied, per ASC 958-205
Endowment Funds (UPMIFA) iEndowments tested against State UPMIFA requirements, spending policy compliance verified, and permanently restricted principal confirmed intact
In-Kind Contributions iDonated goods and services recognised at fair value on the donation date per ASC 958-605-25, valuation methods verified, and donated professional services from board members or volunteers tested
Functional Expense Allocation (ASC 958-720) iThe methodology assigning expense across program, management and general, and fundraising, tested for consistent application — time studies, square footage or direct allocation
Program Service Revenue Testing iMembership dues, program fees, registrations, publications and tuition tested for exchange versus contribution treatment and correct net asset classification
Payables & Accrued Liabilities iSearch for unrecorded liabilities, cut-off on grant expenses and vendor invoices, and year-end accruals including grant reimbursement receivables and deferred revenue
Payroll & Compensation iPayroll tested to personnel records; executive compensation confirmed board-approved and disclosed per Form 990 Part VII; vacation and PTO accruals and volunteer services accounting tested
Fixed Assets & Depreciation iAdditions, disposals and depreciation tested; donated assets confirmed at fair value on the donation date; capitalisation policy tested; collections and works of art checked against NP GAAP
Investment Portfolio (ASC 820) iFair value tested across the ASC 820 Level 1/2/3 hierarchy, investment income allocated to restricted and unrestricted funds per donor agreements, investment policy and underwater endowments reviewed
Liquidity Disclosure (ASC 958-210) iQuantitative and qualitative liquidity disclosures tested for completeness per ASC 958-210-50, with amounts available for general expenditure within one year recalculated and reconciled
Related Party Transactions iAll related party transactions identified and reviewed per AU-C 550 — board compensation, loans, service agreements and vendor relationships — for authorisation and disclosure in the statements and Form 990
Pledges & Grants Receivable iPromises to give tested per ASC 958-310, allowance for uncollectible pledges evaluated, multi-year pledges discounted, and grant receivables confirmed recorded and collectible
Going Concern Evaluation iAbility to operate for twelve months past the statement date, assessed from budget versus actual, cash reserves, grant pipeline, board-designated reserves and any significant financial risk
Statements & Disclosures
Statement of Financial Position iAssets, liabilities and net assets classified per ASC 958, with donor-restricted and unrestricted presented separately; accuracy, GAAP compliance and comparatives reviewed
Statement of Activities iRevenue, expenses, gains and losses by net asset class, change in net assets reconciled, functional expense subtotals and prior year comparatives reviewed
Statement of Functional Expenses iExpenses presented by function — program, management and general, fundraising — and by natural classification per ASC 958-720, with the allocation methodology disclosure reviewed
Statement of Cash Flows iOperating, investing and financing activities tested; opening and closing cash reconciled including restricted cash per ASC 230; method applied consistently with comparatives
Notes & ASC 958 Disclosures iEvery NP-required footnote reviewed: accounting policies, donor restrictions, endowment and UPMIFA, liquidity per ASC 958-210, functional expense methodology, programs and related parties
Subsequent Events (AU-C 560) iEvents between year-end and report date reviewed for adjustment or disclosure, focusing on grants won or lost, restrictions released, and going concern events
Prior Year Comparatives iPrior year statements tested and reconciled, net asset opening balances agreed to prior closing balances, and any prior period adjustments or reclassifications evaluated
Form 990 Coordination iAudited line items reconciled to Form 990 — Part IX functional expenses, Schedule D, Part XI net assets — and delivered to your Form 990 preparer in standard format
Analytical Procedures & Ratios iProgram expense ratio, overhead ratio, operating reserve ratio, revenue concentration and donor retention, compared to prior year with significant variances explained
Management Rep Letter (AU-C 580) iWritten representations confirming completeness of donor restriction information, grant compliance, functional allocation accuracy, and management's responsibility for the statements
Deliverables
Independent Auditor's Report iThe formal opinion issued by the licensed CPA of record, referencing ASC 958 as the reporting framework, with going concern or emphasis of matter paragraphs where required
Audited Financial Statements iThe full set: Statement of Financial Position, Activities, Functional Expenses and Cash Flows, with all required ASC 958 footnote disclosures
Management Letter iWritten communication of significant deficiencies and material weaknesses, including donor restriction misclassification, functional allocation errors, grant compliance gaps and segregation of duties
Board-Ready Findings Summary iA plain-English summary of results, proposed adjustments and anything needing board attention, formatted for a board meeting
Proposed Adjusting Journal Entries (AJEs) iEvery audit adjustment scheduled with explanations — net asset reclassifications, grant accruals, pledge allowances and functional expense reallocations
Form 990 Reconciliation iStructured tie-out of the audited financials to Form 990 — Part IX, Schedule D and Part XI — delivered to your Form 990 preparer in standard format
Completed Audit File iThe complete indexed workpaper file, available for regulatory inspection, peer review, successor auditor review or grantor requirements
Team & Support
Nonprofit Audit Senior iA senior with nonprofit audit experience on your engagement from planning to opinion, familiar with ASC 958, Form 990 and grant compliance. Not rotated mid-engagement
Engagement Lead Review iThe engagement lead reviews every workpaper and issues the opinion, with ASC 958 and NP GAAP expertise and AICPA independence confirmed
Direct Communication iDirect email and Zoom access to your audit senior and engagement partner. No ticketing system, no call centre, response within 4 business hours
Customised PBC List iA nonprofit-tailored doc request list covering grant agreements, donor restriction letters, endowment statements, board minutes, investment statements and the Form 990 draft, sent at engagement start
Secure Doc Portal (SOC-Compliant) iEncrypted portal for every doc exchange — grant agreements, donor records and statements. No email attachments and no unsecured file shares
Weekly Status Updates iWeekly email updates on progress, outstanding PBC items and estimated completion, timed to your Form 990 and federal filing deadlines
Completion Call iA video call with your ED or CFO covering findings, proposed adjustments and management letter comments before the report is issued
Board Presentation Summary iA one-page results summary for your board — plain language, key numbers highlighted, findings explained without technical language
Unlimited Support iReach your named audit senior at any time during the engagement by email, call or video. No tickets, no queues, no extra charge
Scheduled Check-In Calls iStructured calls at your convenience — weekly, fortnightly or as needed — to review open items and keep the audit on timeline
Dedicated Support Email Line iA dedicated engagement email address monitored by your audit team, with every email acknowledged within one business day

Add-Ons - Separately Priced

Optional services available based on your organization's needs. Hover a card to learn more.

Additional Considerations:

  1. 1.Nonprofit audit services are performed in coordination with an independent, licensed CPA firm of record. The audit report and opinion are issued solely by the CPA firm of record in accordance with auditing standards generally accepted in the United States of America (GAAS) and, where applicable, Government Auditing Standards (GAGAS / Yellow Book issued by the U.S. Government Accountability Office).
  2. 2.A fixed fee applies based on the agreed scope and the assumption that the client provides a complete and accurate Prepared-By-Client (PBC) list — including all grant agreements, donor restriction documentation, endowment statements, board minutes, and reconciled financial statements — by the agreed timeline. Delays or incomplete documentation may result in additional fees at $125/hr.
  3. 3.Turnaround time is measured in business days from receipt of a complete and audit-ready nonprofit PBC list, not from the engagement start date. The NP PBC list specifically requires: all active grant agreements, donor restriction letters, investment statements, Form 990 draft (if available), and board-approved trial balance.
  4. 4.Single Audit (Uniform Guidance, 2 CFR 200) applies to organizations expending $750,000 or more in federal awards in a fiscal year and is a mandatory legal requirement — not an optional service. The add-on fee covers GAGAS Yellow Book compliance, SEFA preparation, and major program compliance testing. Number of major programs is determined per the risk-based approach under 2 CFR 200.518.
  5. 5.This engagement covers a financial statement audit of a nonprofit organization under GAAS and ASC 958 (Not-for-Profit Entities). It does not include the preparation or filing of Form 990, legal advice, ERISA compliance consulting, actuarial services, or tax return preparation. Form 990 coordination (reconciliation to audited financials) is included as described above.

Nonprofit Audits Done Right. Every Time.

We work alongside your firm to deliver compliant nonprofit audits - covering everything from standard GAAS requirements to federal grant compliance. One dedicated team, one point of contact, partner-ready workpapers on every engagement.

Schedule a Call

Connect With Our Nonprofit Audit Team

Schedule a Free Consultation

Quick Contact


+1-646-827-4348

chris@my-cpe.com

Chat with a Live Advisor (Not AI)