Category: Internal Controls

by Erin MurphyAugust 27, 2025

Mastering Single Audit Requirements: An Essential Guide

If your organization receives a lot of federal funding, here’s something important to know: starting with fiscal years that begin on or after October 1, 2024, any group spending $1 million or more in federal awards will need to undergo a Single Audit (or, in some cases, a program-specific audit).

Think of the Single Audit as a financial “check-up.” It’s designed to make sure federal funds are being used properly and in line with program rules. This applies to a wide range of entities, including states, local governments, nonprofits, universities, and tribes. Federal financial assistance comes in many forms—grants, but also cooperative agreements, loans, commodities, insurance, and more—so it’s worth double-checking how your funding is classified.

Not every organization falls under the requirement (for example, some for-profits and international groups may be exempt), but award agreements will spell out exactly what’s expected. And even if you’re under the $1 million threshold, you still need to maintain good records and be prepared for possible reviews.

Never miss a compliance update! Get started with our Single Audit Information module. Click to access now.

Single Audit Requirements FAQs 

What Is a Single Audit?

A single audit is a rigorous review that combines a financial statement audit with an assessment of compliance with federal program requirements. It is required for any non-federal entity that expends $1 million or more in federal awards during a fiscal year for fiscal years starting Oct. 1, 2024. 

The primary purpose of the single audit is to verify that federal funds are managed properly, spent in accordance with laws and regulations, and that the intended program objectives are met. This process ensures accountability and transparency, helping federal agencies confirm that recipients fulfill their obligations and uphold the integrity of federal programs.

Why Are Single Audits Important?

Single audits are essential for promoting accountability and transparency in the use of federal funds. Failure to complete a required audit can lead to serious consequences, including loss of current or future funding, repayment of improperly used funds, increased audit scrutiny and reputational harm with funders and stakeholders.

Thresholds and Triggers 

The expenditure threshold applies to an organization that expends at least $1 million in total federal funding within a fiscal year, not to each grant individually. This threshold is based on an entity’s fiscal year: 

  • For January–December fiscal years, the rule applies Jan. 1, 2025, onward
  • For July–June fiscal years, July 1, 2025, onward
  • For October–September fiscal years, Oct. 1, 2024, onward. 

Entities should carefully review their fiscal year to determine whether their next audit is subject to the previous $750,000 threshold or the new $1 million requirement.

Who Performs a Single Audit?

A single audit must be conducted by an independent certified public accountant (CPA) with experience in federal grant auditing. The auditor is responsible for reviewing the organization’s financial statements, Schedule of Expenditures of Federal Awards (SEFA), internal controls and compliance with federal requirements. They identify major federal programs, issue findings and submit audit reports. 

Meanwhile, the entity being audited must maintain complete and accurate records, prepare the SEFA, provide access and documentation to the auditor, respond to any findings, and ensure all required reports are submitted promptly to the Federal Audit Clearinghouse (FAC).

Single Audit Requirements to Know

Single audits must meet rigorous federal standards to ensure proper stewardship of federal funds. Key requirements include:

  • Governing Regulations: Audits are conducted under the authority of the Single Audit Act and the Office of Management and Budget’s (OMB) Uniform Guidance. Auditors must also adhere to the annually updated OMB Compliance Supplement, which provides detailed rules for auditors testing specific federal programs for compliance.
  • Scope of the Audit: The audit must cover the entity’s entire financial operations. This includes both a standard financial statement audit and a detailed compliance audit of federal program requirements to ensure funds were spent appropriately.
  •  Major Program Determination: The auditor identifies “major programs” for in-depth testing. This selection is based on total expenditure levels and a risk assessment that considers program complexity, past audit findings and any federal oversight concerns.
  • Schedule of Expenditures of Federal Awards (SEFA): Your organization is responsible for preparing a SEFA, a comprehensive list of all federal awards expended during the fiscal year. This schedule must include Assistance Listing Numbers (ALNs), program names, award amounts and pass-through entity details.
  • Reporting Requirements: The final audit package is a comprehensive collection of documents. It must include the auditor’s opinion on the financial statements, a report on compliance and internal controls, the SEFA, a schedule of findings and questioned costs, and a corrective action plan for any identified issues.
  • Submission Requirements: The complete audit package and a Data Collection Form (DCF) must be submitted to the Federal Audit Clearinghouse (FAC) by the specified deadline. Copies must also be provided to any pass-through entities that awarded subrecipient funding.

Common Single Audit Findings

Understanding the most frequent audit findings can help organizations proactively address potential issues before they become compliance problems. These recurring deficiencies often stem from inadequate preparation, poor internal controls or misunderstanding of federal requirements.

Things that successful single audits can prevent, as explained below.

  • Inaccurate or Incomplete SEFA: The SEFA frequently contains errors such as missing federal awards, incorrect Assistance Listing numbers or unreported subawards to other organizations.
  • Late FAC Submission: Missing the Federal Audit Clearinghouse deadline typically results from delayed auditor work, poor project scheduling or inadequate coordination between the entity and its auditor.
  • Weak Internal Controls: Common control deficiencies include insufficient segregation of duties, undocumented financial processes and inadequate review procedures for federal expenditures.
  • Failure to Meet Program Objectives: Auditors often find spending that’s misaligned with stated program goals or evidence of missed performance milestones and deliverables.
  • Cybersecurity Deficiencies: Organizations frequently struggle with weak access controls, unencrypted sensitive data and inadequate information security policies.

Addressing these areas proactively can significantly reduce audit findings and demonstrate strong stewardship of federal funds.

Best Practices for Preparing for a Single Audit 

Effective preparation for a single audit involves year-round organization, clear roles and diligent documentation. Focusing on a few core best practices will help ensure smoother audits and fewer findings.

Best practices for preparing for a single audit, as explained below.

Establish Strong Internal Controls

Strong internal controls are the backbone of audit readiness. Start by creating clear, written policies and procedures that cover tracking, reporting, and compliance. Designate a single audit coordinator who can serve as the central point of contact and keep everyone aligned. To reduce risk, separate key duties among staff so no single person controls an entire process. Finally, build in regular internal compliance checks to identify and resolve potential issues before they become problems.

Understand All Compliance Requirements

A successful audit starts with knowing the rules that apply to you. Stay informed of relevant regulations by reviewing grant agreements and the most recent OMB Compliance Supplement, which explains compliance requirements in detail. Determine your oversight or cognizant federal agency, since they may have specific requirements. 

Maintain Accurate Financial and Program Records

Strong recordkeeping and effective tech is essential for passing an audit. Use separate accounts or fund codes for each grant, and document every expenditure and approval. Reconcile accounts regularly to catch discrepancies early and confirm that costs are allowable, allocable, and reasonable. For staff working on multiple programs, maintain clear time and effort reports so labor costs are properly supported.

Prepare the SEFA Early

Begin work on your SEFA well ahead of deadlines. List all direct and pass-through awards, including correct Assistance Listing numbers, award amounts, clusters and subrecipient details. Reconcile the SEFA with your general ledger and double-check for common errors like missing awards or incorrect numbers to avoid findings.

Use Thompson Grants’ Compliance Alerts

Written by leading experts in auditing, Thompson Grants’ Single Audit Information Service Module is the most extensive and easy-to-use guide of its kind that delivers detailed analyses of every aspect of single audit requirements and procedures, ranging from determining major programs, procuring an auditor, reviewing auditee reports, conducting site visits, and preparing auditor findings.

Wrapping Up

Preparing for a single audit doesn’t have to be overwhelming when you have the right strategies in place. By establishing strong internal controls, understanding compliance requirements, maintaining accurate financial records, preparing your SEFA early and leveraging Thompson Grants’ specialized compliance information, your organization can navigate the audit process with confidence. 

Start by reviewing your current processes to identify areas for improvement, then implement systematic changes that strengthen your compliance framework year-round. Take advantage of available resources, expert guidance and compliance tools to ensure your organization is audit-ready. With proper preparation and the right support, you can transform single audit compliance from a challenge into a demonstration of your organization’s commitment to responsible stewardship of federal funds.

You’ve got federal funds—we’ve got your back. Join the Single Audit Information Service and turn compliance from stressful to second nature. Click to start your trial.

About the Author

Erin Murphy

Erin Murphy, MBA, is the Vice President of Marketing at Thompson Grants, where she leads strategic initiatives to expand the organization’s reach and impact. She leads initiatives that connect grant professionals with expert guidance, training, and tools designed to simplify compliance and strengthen funding strategies. Erin combines her background in marketing with a passion for supporting nonprofits, governments, and institutions as they navigate the complex world of grants management.

by Erin MurphyApril 8, 2025

Online Grant Databases that Help Organizations Find Funding

From nonprofits to hospital systems, securing funding is an essential but ongoing challenge. The ability to deliver impactful programs, expand reach, and serve communities often hinges on finding grants that align with your organization’s mission and needs. Federal, state, local, and foundation grants offer solutions, but navigating various opportunities without the right tools can be overwhelming.

That’s where online grant databases come in. These powerful platforms streamline the search for funding by centralizing opportunities, offering robust filters, and tailoring results to help nonprofits find grants that best fit their mission.

Here are just a few reasons why online grant databases are game-changers for nonprofits seeking funding solutions:

  • Centralized Access: Discover countless grants in one place, rather than scouring multiple websites or contacts.
  • Timesaving Search Tools: Advanced filters help you sift through countless options quickly and zero in on those relevant to your nonprofit.
  • Up-to-Date Information: Many databases update in real-time to provide accurate and timely opportunities.
  • Niche Opportunities: Specialized platforms may highlight grants for specific industries, from education to health to sustainability.
  • Customized Features: Some tools offer tailored notifications, personalized dashboards, and even funder insights.

Whether you’re new to grant seeking or a seasoned nonprofit professional, the right grant database can make all the difference in how you find and secure funding.

Jump to:

Stay compliant. Stay confident. Grant Compliance Expert has you covered with real-time insights. Click to get started.

The Benefits of Using an Online Grant Database

Online grant-finding databases are more than just search engines. They are critical tools that enable entities searching for federal funding to efficiently identify, qualify, and pursue funding opportunities. Below are key benefits of using these platforms:

  • Centralized Access to Opportunities. Instead of bouncing between websites or spending hours on email threads with potential funders, online databases consolidate information in one place. This makes it easy to discover various grants, from federal options to local foundation opportunities.
  • Streamlined Search Capabilities. Advanced search filters save time by helping you narrow results based on specific criteria like funding amount, application deadline, focus area, or organization size.
  • Frequently Updated Information. Online platforms are often updated promptly to include the latest funding announcements or adjust deadlines, ensuring nonprofits are always working with the most current information.
  • Better-Fit Grants. By refining searches and accessing detailed criteria, nonprofits are more likely to find opportunities that align with their mission and improve their chances of success.
  • Platform-Specific Features. Many grant databases offer customizable notifications or tools that allow users to save searches, track applications, and explore funder histories.
  • Access to Niche Opportunities. Some platforms specialize in niche areas, such as education, sustainability, or health, helping organizations find grants tailored to their unique focus.

Click to read our ultimate grant compliance playbook.

What to Look For in an Online Grant Database

Not all grant databases are created equal. When choosing a platform, consider the following features to ensure you’re investing in a tool that aligns with your organization’s needs:

  • Cost-Effectiveness. Balance the platform’s subscription cost with its benefits. Free databases can work for some, but premium platforms often offer advanced tools and more comprehensive coverage.
  • Advanced Search Filters. Look for granular filtering options, such as location, funding amount, eligible applicants, and program area, to quickly identify relevant opportunities.
  • Consistently Updated Data. A great grant database reflects the latest funding opportunities, making it easier to track deadlines, eligibility changes, or new programs.
  • Alignment with Team Needs. Choose a tool that suits your team’s technical skills, grant-seeking expertise, and existing workflows. A user-friendly platform is often a better fit for smaller teams without dedicated grant writers.
  • Comprehensive Listings. The more comprehensive the database, the more opportunities you’ll have to find a perfect match. Platforms that consolidate federal, state, local, and private funding sources are especially valuable.
  • Support and Resources. Does the platform offer tutorials, guides, or customer support to help you make the most of its features? Having access to assistance when you need it can save time and frustration.

Investing in the right database ensures you’re not just navigating the world of grant funding but doing so efficiently and effectively.

The Best Online Grant Databases for Any Need

Online grant databases (as explained below)

GrantScape by Thompson Grants

GrantScape by Thompson Grants sets the gold standard as the most comprehensive and user-friendly platform for nonprofit grant seekers. With a reputation built on over 50 years of expertise, Thompson Grants continues to lead the field with cutting-edge tools tailored to organizations navigating federal funding.

What makes GrantScape the best online grant database?

Here’s what makes GrantScape stand out from the crowd:

  • Thompson Grants’ Trusted Reputation: With decades of experience, Thompson Grants is synonymous with excellence in grants management. Professionals across industries have relied on its expert resources to succeed.
  • Comprehensive Coverage Across All Levels: GrantScape covers federal, state, local, and foundation funding opportunities, making it one of the most diverse grant sources available.
  • Advanced Search Functionality: Customize your searches with filters based on location, funding type, eligible applicants, focus area, and more.
  • Personalized Alerts: Stay ahead of deadlines and opportunities with tailored notifications delivered straight to your inbox.
  • Intuitive User Interface: GrantScape’s platform is designed to be easy to use, even for those new to grant-seeking.
  • Detailed Funder Information: Access funder profiles to learn more about past grantmaking habits, application tips, and contact details.
  • Integrated with Other Thompson Grants’ Tools: Subscribers to the Grant Compliance Expert gain complimentary access to GrantScape as well as additional tools, templates, news, and expert analysis, providing a one-stop solution for grants management and compliance.

How to get started with GrantScape

  • Watch a Demo: See GrantScape in action through this recorded showcase.
  • Subscribe Today: Start leveraging GrantScape’s powerful features by subscribing here.

Need to find your best fit funding? Access over 180,000 Grantor Profiles in one simple solution. Click to try Grantscape.

Other Online Grant Databases

When it comes to meeting specific needs for organizations, other grant databases can complement Grantscape’s comprehensive offerings. Here are some options to consider:

Federal Grants: Grants.gov

Grants.gov is the premier database for accessing federal funding opportunities across all sectors. It offers a centralized portal to explore grants from agencies like the Department of Education, Health and Human Services, and more. Best of all, it’s free to use, making it an essential tool for nonprofits seeking government funding.

Small Businesses: GrantWatch

GrantWatch specializes in grants for nonprofits working alongside small businesses or pursuing entrepreneurial ventures. Its subscription-based platform offers advanced search filters, including funding opportunities by state and industry focus, starting at $18 per week.

Environmental and Sustainability: Environmental Grantmakers Association (EGA)

EGA caters to environmental nonprofits by connecting them with funders who prioritize sustainability and conservation efforts. While access requires membership, the platform provides exclusive insights and networking opportunities to align nonprofits with eco-driven donors.

Health: NIH Grants

Focused on advancing health research and healthcare services, NIH Grants is a go-to resource for nonprofits in the medical space. It offers detailed funding opportunities through major institutes such as the National Cancer Institute. Access is free, but applications require technical expertise and compliance with NIH guidelines.

Education: Donors Choose

DonorsChoose is an innovative platform tailored for nonprofits and individuals supporting K-12 classrooms. It stands out by allowing educators to directly post project needs, with donors funding specific initiatives. There are no subscription costs, but the platform takes a percentage of donations to cover fees.

Foundation Grants: Foundation Directory (Candid)

Powered by Candid, the Foundation Directory provides detailed profiles of private foundations, including their funding priorities, typical grant sizes, and connections to past recipients. With subscription pricing starting at $49.99 per month, it’s a favorite for nonprofits seeking private grantmakers.

These specialized platforms can help organizations address niche funding needs while rounding out any organization’s grant-seeking strategy. That said, GrantScape remains the most versatile and user-friendly option for organizations aiming to streamline their grant management efforts. Its intuitive interface, competitive pricing, and robust database of grant opportunities make it the top choice for nonprofits of all sizes and missions.

Wrapping Up

Grant opportunities are abundant, but finding the right ones for your organization requires tools that simplify the process and improve results. Comprehensive databases of fundraising opportunities are indispensable resources for organizations seeking to secure funding efficiently while minimizing the complexity of the search.

While many platforms offer valuable features, Grantscape by Thompson Grants stands out as the most comprehensive, user-friendly, and effective solution for organizations of all sizes and sectors. With Grantscape, organizations can take the guesswork out of grant-seeking and focus more on advancing their mission.

Take the next step in your grant search today. Subscribe to Grantscape or explore other featured platforms to find the opportunities that best fit your organization’s needs.

Empower your organization with the resources it needs to thrive—because securing funding shouldn’t feel impossible.

About the Author

Erin Murphy

Erin Murphy, MBA, is the Vice President of Marketing at Thompson Grants, where she leads strategic initiatives to expand the organization’s reach and impact. She leads initiatives that connect grant professionals with expert guidance, training, and tools designed to simplify compliance and strengthen funding strategies. Erin combines her background in marketing with a passion for supporting nonprofits, governments, and institutions as they navigate the complex world of grants management.

by Erin MurphyFebruary 27, 2025

Mastering Grant Compliance: An Ultimate How-To Guide

Navigating the complexities of grant compliance is no small task. For organizations receiving grants, it’s crucial to adhere to regulations and requirements to ensure continued funding, reduce risks, and avoid penalties. However, with shifting priorities under the new administration, staying compliant can feel like a moving target.

This guide will walk you through the fundamentals of successful grant compliance, including:

Grant Compliance FAQ

Best Practices for Ensuring Grant Compliance

How to Find Grants Compliance Resources

Stay compliant. Stay confident. Grant Compliance Expert has you covered with real-time insights. Click to get started.
Continue reading “Mastering Grant Compliance: An Ultimate How-To Guide”

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