FirmKey’s CPA partners audit nonprofits of all sizes—from small foundations to large, multi-entity institutions—at fees ranging from $4,500 to $50,000+, based on size, funding, and compliance needs.
How much does a nonprofit audit cost
Nonprofit audit cost typically ranges from $4,500 to $50,000+, depending on your organization’s size, complexity, and reporting requirements. Smaller nonprofits with fewer than 5 employees and under $1M in revenue or expenses may pay around $4,500–$6,500 for a standard audit. In contrast, larger organizations—particularly those with more than 100 employees and $50M–$100M in expenses—can expect audit fees up to $50,000 or more.
Costs may increase depending on whether your audit is a first-time engagement, includes specialized reporting, or requires a faster turnaround. FirmKey’s network helps nonprofits evaluate their needs and secure clear, transparent nonprofit audit pricing.
Factors that impact nonprofit audit pricing
FirmKey’s partners assess a range of factors that influence how much a nonprofit audit costs:
Total revenue or expenses:
Higher amounts increase the price
Number of employees and operational complexity:
More staff and layered operations increase scope and the cost
Audit type:
Single Audit, HUD audit, or financial statement audit requirements can affect complexity and testing depth
First-time status:
Initial audits often require additional setup, documentation, and walkthroughs
Compliance with 501(c)(3), grant-specific reporting, or federal funding:
Additional compliance layers lead to more auditor procedures
Public fundraising compliance or registration status:
Activities such as Reg CF or state-level fundraising registrations may raise audit documentation expectations and complexity
Rush deadlines or condensed turnaround time:
Faster delivery timelines typically increase audit fees
Audit readiness, internal controls, and documentation quality:
Well-prepared organizations reduce auditor effort and cost
Well-organized financial records and documented internal controls can reduce auditor testing and keep fees lower. Conversely, disorganized records, incomplete financial statements or poor readiness may drive up costs due to increased hours and extended timelines and scope.
Common audit scenarios and estimated costs
Here are a few examples of what different types of nonprofit organizations might expect to pay based on different scenarios of the type of charity and its organizational complexity:
Scenario 1:
Mid-sized nonprofit with standard requirements
A nonprofit with around 60 employees and $7M in total expenses, undergoing its first audit with a standard deadline, may expect to pay in the range of $19,000 to $22,000.
Scenario 2:
Large charitable organization requiring a Single Audit
An established nonprofit with 90 employees, $10M in expenses, and a requirement for a Single Audit under GAGAS standards may see audit costs between $22,000 and $26,000, depending on complexity.
Scenario 3:
Small nonprofit with regulated fundraising activity
A nonprofit startup with 30 employees, $7M in expenses, undergoing its first audit and engaged in regulated fundraising (e.g., Reg CF), may have audit costs in the range of $15,000 to $17,000.
FirmKey’s network includes accounting professionals experienced in all of these scenarios and more, helping you understand your requirements and receive the right level of service.
Alternatives to a full nonprofit audit
Some nonprofits may not need a full audit and can pursue more cost-effective alternatives based on compliance obligations and funding sources. Common options include:
Review engagements:
More limited in scope, typically sufficient for smaller organizations.
Compilations:
Prepared financials with no formal assurance, best suited for internal use or informal reporting.
Internal audits:
Focused on internal controls and operational improvements.
Best practices to prepare for a nonprofit audit
Being prepared can significantly reduce your nonprofit audit cost and ensure a smoother process. FirmKey’s network partners support:
- Organized financial reporting and reconciliations
- Accurate and timely Form 990 preparation
- Monthly close processes and accounting oversight
- Grant tracking and reporting
- Multi-entity financial reporting
- Audit readiness checklists and planning timelines
- Nonprofit cash flow forecasting and scenario planning for nonprofit finances
- To ensure smooth operations beyond audit season, explore nonprofit accounting services to keep books clean and nonprofit budgeting solutions to forecast with confidence.
Nonprofit audit cost 101: what to know before you start
Before engaging with a CPA firm, keep the following in mind:
1.
Understand your obligations
Certain states, grantors, or fundraising efforts may require a specific type of audit.
2.
Estimate your range
Make sure to have information on your revenue, expenses, and headcount when you speak with CPA firms so that they can benchmark the possible cost.
3.
Find the right provider
FirmKey’s curated network includes experienced CPA firms, ensuring compliance and quality.
4.
Plan ahead
Preparing early reduces stress, shortens turnaround, and minimizes costs.
How to reduce nonprofit audit costs
Managing nonprofit audit costs starts with preparation, partner selection, and efficient execution. FirmKey’s network partners help reduce fees by:
- Reviewing books and financials before the auditor begins work
- Cleaning up reconciliations, schedules, and documentation
- Ensuring internal controls and financial policies are clearly documented
- Guiding charities through readiness checklists
- Avoiding rush fees through timely planning
- By minimizing rework and streamlining communication with auditors, FirmKey’s partners help control hours and reduce the overall cost burden.
Understanding nonprofit financial reporting requirements
Nonprofit organizations are required to follow a unique set of financial reporting standards. These include tracking restricted and unrestricted funds, preparing Form 990s, and reporting on grants, donations, and programmatic expenses. Clear and consistent reporting supports transparency and helps meet expectations from board members, donors, and grantors.
By maintaining up-to-date financial statements, supporting documentation, and compliance with relevant accounting standards, nonprofits can build stakeholder trust while reducing the time and effort required during external reviews. FirmKey’s partners help ensure that reporting is accurate and aligned with the organization’s mission and obligations—providing a strong financial foundation year-round.
How outsourced financial leadership supports readiness and reduces costs
Charitable organizations that invest in strong financial leadership—through a fractional CFO or controller—often experience smoother audits, fewer delays, and more strategic use of funding. FirmKey’s network includes professionals who specialize in nonprofit finance, helping organizations streamline their operations before audit season begins.
A dedicated CFO or controller can:
- Implement clear internal controls and accounting processes
- Build structured timelines for monthly close and financial reporting
- Create detailed forecasts and cash flow plans
- Maintain audit-ready documentation year-round
- Advise leadership and the board with actionable financial insights
- Outsourced accounting teams also support strategic planning and resource allocation. Whether your charitable organization is preparing for its first audit or looking to improve operational efficiency, FirmKey connects you with experts in nonprofit budgeting to help prioritize funding and align spending with mission goals. For organizations planning for growth, financial projections for nonprofits are essential to building a sustainable strategy. And when you’re considering your leadership structure, FirmKey can guide you in choosing the right nonprofit CFO or controller to match your organization’s needs and budget.
What to expect from your CPA partner beyond the year-end review
Your CPA firm can offer far more than an annual financial checkup. The right partner provides strategic guidance throughout the year to improve financial clarity and ensure smooth collaboration with your board, funders, and leadership team. FirmKey’s network of experienced CPAs often helps nonprofits:
- Improve internal financial controls and processes
- Identify opportunities for operational efficiency and cost savings
- Deliver insights that improve board reporting and stakeholder confidence
- Prepare for grant applications and fundraising efforts
- Align financial reporting with organizational strategy and mission
These ongoing engagements can enhance your nonprofit’s financial health year-round—not just during year-end reviews or reporting cycles.
Work with FirmKey’s network of nonprofit audit experts
FirmKey’s platform connects your organization with vetted experts in non-profit audit services. Whether you’re preparing for your first audit or managing a complex multi-entity structure, FirmKey’s network includes:
- Financial statement, Single, and HUD audits
- Audit readiness and compliance support
- Form 990 filing and grant reporting
- Monthly close and reconciliations
- ERP transitions and systems optimization
- Strategic budgeting and forecasting
- Fractional CFO and controller support
All services are offered on a fractional, project-based, or outsourced basis—giving your charitable organization access to the right expertise without the commitment of a full-time hire.