PA HB965

Raises the threshold requiring charitable organizations to obtain an independent audit from $750,000 to $1,000,000 in annual contributions

Increases the threshold for mandatory financial review or audit from $250,000-$750,000 to $500,000-$1,000,000 in annual contributions

Raises the threshold for required compilation, review, or audit from $100,000-$250,000 to $150,000-$500,000 in annual contributions

Makes financial compilations, audits, and reviews optional for organizations receiving less than $150,000 annually (increased from $100,000)

Applies to contributions received in calendar years beginning after the act's effective date and takes effect immediately