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When Does a Pennsylvania Nonprofit Need a Compilation?

If your nonprofit organization solicits charitable contributions in Pennsylvania, you may be required to submit CPA-prepared financial statements as part of your annual registration with the Pennsylvania Bureau of Corporations and Charitable Organizations.

Many nonprofit leaders are surprised to learn that Pennsylvania’s reporting requirements are based on gross annual contributions, not simply total revenue. As your organization grows, the level of financial reporting required also increases.

At ELT CPA LLC, we specialize in serving nonprofit organizations throughout the United States, including organizations that must comply with Pennsylvania charitable registration requirements.

Pennsylvania Financial Statement Requirements

Pennsylvania currently requires different levels of financial reporting depending on your organization’s annual gross contributions.

Because these thresholds can change through legislation, nonprofits should periodically review current state requirements or consult with their CPA.

What Is a Compilation?

A financial statement compilation is the most basic level of CPA financial statement service.

During a compilation engagement, your CPA organizes financial information provided by management into professionally prepared financial statements in accordance with applicable accounting standards. Unlike a review or audit, a compilation does not provide assurance regarding the accuracy of the financial statements.

For many Pennsylvania nonprofits, a compilation satisfies the state’s reporting requirements while providing professional financial statements for board members, grant applications, and annual reporting.

Why Choose ELT CPA?

Nonprofit accounting requires specialized knowledge.

Our firm works extensively with nonprofit organizations and understands:

• Pennsylvania charitable registration requirements
• Form 990 reporting
• Financial statement compilations
• Reviews and audits
• Grant compliance
• Internal controls
• Board reporting
• Multi-state nonprofit compliance

Whether your organization is approaching the compilation threshold for the first time or has been filing for years, we can help ensure your financial reporting is completed accurately and on time.

Pricing for tax and compilation

990 with compilation no note disclosures       $1,750

990 with compilation including note disclosures     $2,250

Beyond Compliance

A professionally prepared compilation does more than satisfy state requirements.

It can also help your organization:

• Present professional financial statements to your board
• Strengthen grant applications
• Improve lender confidence
• Demonstrate financial transparency
• Prepare for future growth
• Transition more easily to a review or audit if required

Frequently Asked Questions

Does Pennsylvania base the requirement on revenue?

No. Pennsylvania’s reporting requirements are generally based on gross annual contributions, which may differ from total revenue reported on your financial statements or Form 990.

Is a compilation the same as an audit?

No. A compilation involves presenting financial information provided by management without providing assurance. An audit provides the highest level of assurance and requires substantially more procedures.

What if my nonprofit expects to exceed the threshold this year?

Planning ahead is important. If your organization anticipates reaching a higher reporting threshold, speaking with your CPA before year-end can make the engagement more efficient and help avoid surprises during filing season.

Can ELT CPA work with Pennsylvania nonprofits remotely?

Yes. We serve nonprofit organizations in multiple states using secure electronic document exchange and virtual meetings, allowing us to efficiently support organizations regardless of location.