Financial Requirements

|Financial Requirements
Financial Requirements2017-12-15T19:30:12+00:00

THE GREATER KANAWHA VALLEY FOUNDATION REQUIRES AN AUDIT, FINANCIAL REVIEW, OR COMPILATION WITH ALL GRANT PROPOSALS

TGKVF will normally request the following:

  • Charitable organization raising more than $500,000 per year in contributions, including grants from federal and state governmental agencies and private foundations, shall submit an audit by an independent certified public accountant;
  • Charitable organization raising more than $200,000 but less than $500,000 per year in contributions, including grants from federal and state governmental agencies and private foundations, shall submit a financial review by an independent certified public accountant; and
  • Charitable organization raising less than $200,000 in contributions, including grants from federal and state governmental agencies and private foundations, shall submit a compilation by an independent certified public accountant.

  The Greater Kanawha Valley Foundation may require different or additional financial information than what is outlined above depending upon each organization’s particular financial profile.

The link below provides a good summary of the differences between an audit, review, and compilation:  http://www.nonprofitaccountingbasics.org/audit/audit-vs-review-vs-compilation