One of the most important—and most overlooked—compliance requirements for Virginia nonprofits is charitable solicitation registration. Unlike most states where the Attorney General oversees charitable registration, Virginia handles this through the Department of Agriculture and Consumer Services (VDACS) . Who Must Register Before soliciting contributions in Virginia, charitable organizations must register with VDACS by filing Form 102 . The initial fee is $100 . Exemptions: Religious organizations and those raising less than $5,000 annually may be exempt from registration, provided they do not use paid fundraisers . However, even if exempt, it is good practice to register anyway for transparency and credibility with donors . Annual Renewal Virginia nonprofits must renew their charitable solicitation registration annually . The renewal fee is $30 . The renewal filing includes an annual financial report with VDACS Office of Charitable and Regulatory Programs . Organizations must also file their IRS Form 990 series return. Disclosure Requirements Virginia law requires charitable organizations to include a specific disclosure statement in solicitation materials informing donors that financial information is available from the state . The exact language is prescribed by VDACS . Consequences of Noncompliance Failure to register or renew charitable solicitation registration can result in: Inability to legally solicit contributions in Virginia Potential fines and penalties Loss of donor confidence Negative impact on grant applications VDACS Resources The Virginia Department of Agriculture and Consumer Services (VDACS) maintains the Office of Charitable and Regulatory Programs, which oversees charitable solicitation registration. Organizations should consult VDACS for the most current forms, fees, and requirements. Connection to Form 990 Compliance The IRS Form 990 includes questions about state charitable solicitation registration compliance. Organizations that fail to register in Virginia may need to disclose this on their Form 990. Financial Statement Requirements Virginia nonprofits must file an annual financial report with VDACS as part of their registration renewal . Many organizations use their IRS Form 990 to satisfy this requirement. At Nova Tax & Accounting Services , we help Virginia nonprofits with Form 990 preparation and compliance with state charitable solicitation registration. Schedule your free consultation to discuss your organization’s compliance needs.

Opening a dedicated nonprofit bank account is a critical step for any new or existing Virginia nonprofit organization. A separate account is essential for maintaining tax-exempt status, satisfying donor expectations, meeting grant requirements, and complying with Virginia’s charitable solicitation registration requirements . When to Open a Nonprofit Bank Account You can open a nonprofit bank account in Virginia with your EIN and Articles of Incorporation before receiving your 501(c)(3) determination letter . Most banks and credit unions allow this . However, some nonprofit-specific accounts may require the IRS determination letter before opening . Documents Needed To open a nonprofit bank account in Virginia, you generally need : EIN Letter (IRS CP 575 or 147C) Articles of Incorporation filed with the Virginia State Corporation Commission Bylaws signed by the board Board Resolution authorizing account opening and naming authorized signers Government-issued photo ID for all authorized signers 501(c)(3) Determination Letter from the IRS (if available—some banks allow you to open while pending) Virginia-specific requirements: VDACS charitable solicitation registration; Virginia sales tax exemption certificate Required Virginia Registrations Before opening your nonprofit bank account, ensure you have completed the necessary Virginia registrations : Virginia State Corporation Commission – Articles of Incorporation filed ($75 fee) Virginia Department of Taxation – Sales tax exemption application (if you have 501(c)(3) status) Virginia Department of Agriculture and Consumer Services (VDACS) – Charitable solicitation registration (Form 102) before soliciting contributions Choosing a Banking Partner for Your Virginia Nonprofit Virginia has 258 FDIC-insured institutions, giving nonprofits excellent banking options . Consider the following when choosing a bank: Fees – Monthly maintenance fees ($12-16/month at traditional banks), minimum balance requirements, transaction limits, and wire transfer fees are the most common hidden costs  Accessibility – Branch locations, online banking capabilities, and customer service hours Experience with nonprofits – Some banks specialize in nonprofit banking and understand the unique needs of tax-exempt organizations Additional services – Merchant services for credit card processing, remote deposit capture, and integration with accounting software Virginia Nonprofit Account Tips Do not commingle funds. Maintaining a separate bank account for your nonprofit is essential. Commingling personal and organizational funds can jeopardize your 501(c)(3) status . Watch for hidden fees. Virginia nonprofits should pay attention to monthly maintenance fees, minimum balance requirements, transaction limits, and wire transfer fees . Review your account regularly. Ensure all signers are current, monitor for unauthorized transactions, and reconcile your account monthly. At Nova Tax & Accounting Services , our accounting and bookkeeping team can help you establish proper financial systems for your nonprofit, including bank account setup, internal controls, and financial reporting. Schedule your free consultation to learn more.

On March 25, 2026, the Greater Washington Society of CPAs hosted the Nonprofit Finance & Accounting Academy in Vienna, Virginia, a focused program for professionals new to the nonprofit sector or looking to strengthen their knowledge of nonprofit accounting, reporting, and compliance . The event covered core topics including revenue recognition, financial reporting, auditing, and tax issues . Key Topics for Nonprofit Finance Professionals The Academy addressed several critical areas for nonprofit finance professionals : Revenue Recognition – The implementation of ASU 2018-08 continues to be a focus area for many nonprofits. The standard clarified when contributions and grants should be treated as conditional versus unconditional, which has significant implications for revenue reporting and donor restriction tracking. Financial Reporting – Nonprofits continue to refine their financial statement presentations, particularly regarding the classification of net assets with donor restrictions and the allocation of functional expenses. Auditing Issues – The Academy addressed emerging auditing issues, including the increased scrutiny of internal controls and the importance of maintaining audit-ready financial records year-round. Tax Issues – Participants explored the latest tax developments affecting tax-exempt organizations. Ask the Experts Panel The Academy featured an “Ask the Experts” panel with seasoned professionals including Tracy Bowers, Managing Director of Outsourced Accounting Services, Not-for-Profit Industry at Cherry Bekaert, and Karl Spanbauer, Controller at Capital Area Food Bank . The panel addressed attendees’ questions on the day’s most pressing topics . Virginia Nonprofit Finance Resources Virginia nonprofits can access additional resources through the Virginia Society of Certified Public Accountants and the Greater Washington Society of CPAs . Best Practices for Nonprofit Finance in 2026 Based on the Academy discussions, nonprofit finance professionals should focus on: Strengthening internal controls – Regular reviews of financial processes and segregation of duties Improving revenue recognition – Properly distinguishing between conditional and unconditional contributions Maintaining audit readiness – Keeping financial records organized and reconciled throughout the year Staying current with tax developments – Monitoring changes that affect tax-exempt organizations Investing in staff training – Ensuring finance staff have current knowledge of accounting standards At Nova Tax & Accounting Services , we provide audit and assurance services and accounting and bookkeeping for nonprofit organizations across Virginia and Washington DC. Schedule your free consultation to discuss your organization’s finance and accounting needs.