Massachusetts Adjusts Financial Thresholds
November 20, 2024 Massachusetts Eases Nonprofit Financial Reporting with Economic Development Bill Massachusetts’ Economic Development Bill (H.5100), signed into law on November 20, 2024, and effective immediately, updates financial reporting for public charities. The bill raises the audit threshold from $500,000 to $1,000,000 in gross support and revenue, requiring only a reviewed financial statement for […]