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 […]