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 […]