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Checklist for Non-profit Audit

  • Signed engagement letter
  • Cash receipts and disbursements for year, categorized and balance sheet as of year end
  • Budget for 20xx and the next year
  • Copy of December 31, 20xx checking and savings statements, reconciled to ending balances shown on balance sheet. Also, if you have opened any new bank or investment accounts, I will need 12/31/xx statements from those accounts
  • Paid employee(s)' gross pay and average hours worked per week. Also list any benefits paid for each employee, such as health insurance or other compensation. A copy of your payroll service's year-end report or a copy of W-2s, marked up with the additional information, will be helpful.
  • Description and value of any donated equipment and other major in-kind donations
  • Contributors of $5000 and over, including full names, addresses and amount contributed in 20xx
  • Officers, directors and key employees' names, addresses and compensation
  • Minutes of board meetings during 20xx
  • Any grants or contributions promised by 12/31/xx but not received until after that date
  • Amounts paid after 12/31/xx for expenses incurred prior to the end of the fiscal year
  • Description of any transactions between xxx and any related parties (officers or directors, their family members or any entities controlled by any of these people)
  • Information about any related entity (that is under common control). Organizations are related if more than 50% of the organization's governing body, officers, directors, or trustees are also officers, directors, or trustees of the other organization
  • Information about amounts spent for direct lobbying and for grass roots lobbying
  • If xxx distributed a solicitation for funds that also contained an education or membership development component, the costs of that entire solicitation are considered to be fundraising expense unless specific criteria are met. Please discuss this requirement with me if you think this requirement applies
  • Copy of flyer or other printed materials used in fundraising
  • Any change to the organization's governing documents
  • Details about any new contracts with other entities (equipment lease, office lease, service provider contract)
  • Details about any special events and/or new sources of income
  • Details about any grants paid out
  • Each year we allocate expenses into three categories, either by percentages or actual amounts spent on each category. The three categories are program, general & admin, and fundraising. We can discuss allocations after the basic numbers are firmed up