Audit, Single Audit & Form 990 Services (CY 2026–2028) Thurston EDC

SUBCONTRACTING OPPORTUNITY

Audit, Single Audit & Form 990 Services (CY 2026–2028) Thurston EDC

POSTING DATE: 10/29/2026

DEADLINE FOR SUBMITTING BIDS: 02/01/2027, 05:00 pm

Contract Location: Lacey, WA 98503

Contract description:

Dear Prospective Proposer:

The Thurston Economic Development Council (EDC) and the Center for Business & Innovation (CB&I) are requesting proposals from qualified certified public accounting firms to provide audit and tax services for the calendar years ending December 31, 2026, 2027, and 2028. Requested services include an audit of the organizations combined financial statements, a Single Audit in accordance with the Uniform Guidance, and preparation of the organization’s annual Forms 990. The organizations intend to award a single firm a three-year contract. Proposals must be received no later than 5:00 p.m. Pacific Time on February 1, 2027. A description of the organizations, the services requested, and other pertinent information follows.

BACKGROUND OF THURSTON EDC AND CB&I

The Thurston Economic Development Council (EDC) is a nonprofit organization exempt from federal income tax under Section 501(c)(4) of the Internal Revenue Code and is governed by a Board of Directors. As the lead economic development organization in Thurston County, the EDC’s mission is to create a dynamic and sustainable economy that supports the values of the people who live and work in Thurston County. The EDC accomplishes this by:

• Connecting local businesses with experts and resources that help them remain competitive;
• Creating and delivering strategic messages that attract new investment to the community;
• Working with community partners to enhance collective prosperity and strengthen the region’s economic future; and
• Participating regionally to ensure that Thurston County plays an appropriate role in regional economic development.

Co-located with the EDC is the Center for Business & Innovation (CB&I), a separate nonprofit organization exempt from federal income tax under Section

501(c)(3) of the Internal Revenue Code, with its own Board of Directors. The CB&I serves as a catalyst for creating and growing high-value, high-wage, private-sector companies in the South Puget Sound region by providing relevant, timely business services, including training, counseling, coaching, and technical assistance, under one roof. The CB&I also operates the Lacey MakerSpace (LMS) as one of its programs. The EDC also serves as the statewide program lead for the APEX Accelerator program and is home to the Washington Center for Women in Business (WCWB).

The EDC, the CB&I, and their programs operate as a cohesive network of resources that work together proactively and collaboratively to support strong economic and community development throughout the region. The organizations’ strength lies in an innovative approach to building partnerships, both internally among staff and externally with community partners. Every position within the EDC and the CB&I was created with a philosophy of team support and service, and all programs operate as one team working toward the success of the community.

SERVICES TO BE PERFORMED

Proposals should address the following services:

1. An audit of the combined financial statements of the EDC and the CB&I, conducted in accordance with auditing standards generally accepted in the United States of America; Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Subpart F (Uniform Guidance).
2. The audit will cover the entire operations of the EDC and the CB&I, including all programs, and will include tests of the accounting records and such other procedures as the auditor considers necessary to express an opinion on whether the financial statements are presented fairly, in all material respects, in conformity with accounting principles generally accepted in the United States of America, and to express an opinion on compliance for each major federal program. The engagement will include the Schedule of Expenditures of Federal Awards and the required reports on internal control and compliance.
3. The auditor will meet with the Audit Committee, the Finance Committee, and/or the Board of Directors, as necessary, for an audit entrance conference. Preliminary planning, risk assessment, and fieldwork are expected to begin in spring 2027, with delivery of the final report by summer 2027. The auditor will complete its portion of the Data Collection Form (Form SF-SAC) and support timely submission of the reporting package to the Federal Audit Clearinghouse, which is due the earlier of 30 days after receipt of the auditor’s report or September 30 of the year following the audited period.
4. Preparation of separate annual Forms 990, Return of Organization Exempt from Income Tax, for the EDC and the CB&I, including related schedules, extensions, and Forms 990-T, if applicable.

KEY PERSONNEL

The following individuals are the key contacts for information needed in preparing a proposal:

Michael Cade                       Executive Director                              360-464-6085

Michael McGauly                 Treasurer, Finance Chair                   360-570-5675

Taylor McEachern                 Accounting Manager                          360-464-6037

For additional information, please visit thurstonedc.com. To review prior financial statements and tax returns, please contact Taylor McEachern at 360-464-6037 or tmceachern@thurstonedc.com.

Please submit completed proposals to the Audit Committee, Attn: Taylor McEachern, Accounting Manager, via email at tmceachern@thurstonedc.com or by mail to 4220 6^th Ave SE, Lacey, WA 98503.

RELATIONSHIP WITH PRIOR CPA SERVICE PROVIDER

These services are currently provided by Johnson, Stone, & Pagano, CPA. The incumbent firm is eligible to submit a proposal; however, organizational policy requires that audit services be competitively procured every three calendar years. Please contact Taylor McEachern, Accounting Manager, at tmceachern@thurstonedc.com or 360-464-6037 to obtain permission before contacting the prior auditor.

YOUR RESPONSE TO THIS REQUEST FOR PROPOSAL

Each proposal should include the following information:

1. The firm’s qualifications and experience providing audit and tax services to not-for-profit organizations, including Single Audits of organizations that expend $1,000,000 or more in federal awards in a fiscal year.
2. Identifying information, including the firm’s legal entity name, principal officers, employer identification number, and Washington State business license number, together with written affirmations that the firm is independent of the EDC and the CB&I under applicable professional standards and that neither the firm nor its principals are suspended, debarred, or otherwise excluded from participation in federal programs.
3. Professional references, and evidence that the firm is licensed and in good standing with the Washington State Board of Accountancy and the Washington Society of Certified Public Accountants (WSCPA).
4. The firm’s most recent System Review (peer review) report and any related response.
5. A description of the firm’s approach to the combined audit of the EDC and the CB&I, including the use of technology in the audit, and the process the firm uses to communicate issues to management and the Audit Committee of the Board.
6. A fee proposal for each year of the contract period (2026, 2027, and 2028), presented separately for the financial statement audit, the Single Audit, and preparation of the Forms 990, together with any limits or guarantees regarding future fee increases.
7. Standard billing rates for each class of professional personnel for each of the last three years.
8. A description of what distinguishes the firm from other firms under consideration and why the firm is best suited to serve as the organizations’ independent auditor.

EVALUATION OF PROPOSALS

The Audit Committee will evaluate proposals based on the firm’s qualifications and experience, proposed audit approach, and cost. The evaluation will include review of the firm’s System Review report and related materials, interviews with the senior engagement personnel to be assigned to the organizations, discussions with the firm’s references, and the completeness and timeliness of the firm’s response.

Please submit proposals no later than 5:00 p.m. Pacific Time on February 1, 2027. Fieldwork is anticipated to begin in May 2027. The Audit Committee and the Accounting Manager will be available to answer questions throughout the proposal period. Firms that elect not to submit a proposal are asked to notify the organizations of that decision.

Sincerely,

Michael Cade

Executive Director

Thurston Economic Development Council and Center for Business & Innovation

Scope of Work: Audit, Single Audit & Form 990 Services

Links: https://thurstonedc.com/

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