USA Non-Profit in Austin - Do non-profits need to be audited?,


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My boss is the Finance Chair of a non-profit here in Austin, TX . It is a membership organization for entrepreneurs. They get together and talk about entrepreneurship and speak to young company leaders about "thinking entrepreneurially. " He wants to know if the organization has to have audited financials? Or can they be reviewed or do they need to do anything at all? I don't have any experience with non-profits, so I told him I'd so some research. Anyone know?
 
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kirby

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The answer to your question mainly is determined by your State's Attorney General's Office, Charities Bureau - whether it's required for submitting to the State Attorney General's Office. IRS doesn't require it for filing its 990.
You also should read the organization's By-Laws or Articles of Incorporation to see if there's a provision in there that discusses this issue.
 

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