Utah No Longer Requires Most Nonprofits Register to Solicit Contributions
May 1, 2024 Nonprofit organizations not incorporated or registered as foreign entities in Utah are exempt from charitable solicitation registration, and the pre-notification for charitable sales promotions is eliminated effective May 1, 2024. However, starting January 1, 2025, Utah-registered nonprofit corporations must include their unredacted IRS Form 990 with their annual corporate filings, unless IRS-exempt. […]
Wisconsin Raises Audit and Review Thresholds
March 23, 2024 Wisconsin’s AB 912 Eases Financial Reporting for Nonprofits Signed into law on March 21, 2024, as 2023 Wisconsin Act 151, and effective for fiscal years beginning on or after March 23, 2024, Assembly Bill 912 raises financial reporting thresholds for charitable organizations under Wisconsin Statutes § 202.12. The audit threshold for submitting […]
New Mexico Audit Threshold Updates
January 1, 2024 Effective January 1, 2024, New Mexico has raised the audit threshold for nonprofits. The new threshold for requiring Audited Financial Statements is set at $750,000 in total revenue. For more information, refer to the New Mexico Auditor’s Report Requirements Update. Questions about the audit threshold updates or how this affects your nonprofit? […]
Updates to Illinois Audit Thresholds
January 1, 2024 Starting January 1, 2024, the audit threshold for nonprofits in Illinois has been updated. For nonprofits that do not employ professional solicitors, the threshold for requiring Audited Financial Statements increases to $500,000 in total revenue, while the threshold for Reviewed Financial Statements is set between $300,000 and $499,999 in total revenue. Nonprofits […]