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We are a very small, relatively simple charity with about…

We are a very small...
We are a very small, relatively simple charity with about 25,000 in annual revenue. How much (ballpark) should we expect to pay to have our financial statements audited and certified?
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3/23/2018
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,125
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from Just Answer. I'm PDtax, and can assist.

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I would expect audit fees to be around $1,000. More if they need to prepare the financials as part of the engagement. If you need 990 filing, add another $600 or so for that.

This will vary on location, market access to CPAs, time of year this is needed, and other factors, such as who will be receiving them, specific format required, do the CPAs do other area charities, do they want to discount working for charity, and other factors.

Thanks for asking at Just Answer. Positive feedback is appreciated. I'm PDtax.

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Customer reply replied 5 months ago
Appreciate the response. We are very much under the threshold for audited financials to be required. We're even under the threshold (for 2017) to have to file anything but the 990 post card. Our revenues for 2018 have already exceeded $100,000 as we are fundraising for a major capital expansion of the rescue. We are all about transparency, even to the point of publishing our P&L statement annually on our public website. I'm thinking that audited statements might help us with obtaining favorable outcomes on grant requests, though none have required them so far.Unless you have other advice in this arena, I think we're good :)

The audited financials may not be needed yet. Some would want to look at the 990 filing in lieu of, but having the financials is a good idea.

Please rate my response to complete your request. Five stars is best. I'm PDtax.

PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,125
Experience: 35 years tax experience, including four years at a Big 4 firm.
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