The pandemic has brought many changes to nonprofit organizations, including changes in operations, reduced funding from traditional revenue streams, and perhaps, new funding from various Federal programs.
While the assistance from various federal programs is helpful in maintaining services, there may be some additional reporting requirements, including the potential for a single audit under Uniform Guidance requirements. The general rule is if an organization expends at least $750,000 in federal funding (either directly or indirectly through state or local agencies), a single audit is required.
If you are in need of assistance in determining whether your organization requires a single audit, please contact your Hawkins Ash nonprofit representative.
