HB1197 was signed into law by the Governor on June 30, 2023. The bill changes the Illinois Charitable Audit Requirements.
The Illinois Attorney General has required an audit for charitable organizations with revenue over $300,000 for many years. This bill increases the threshold to $500,000 and will require reviewed financial statements for organizations with revenue from ... Read More ›
If your not-for-profit sets performance goals — and most organizations should — then you need benchmarks to measure your performance. Staffers and your board may not enthusiastically embrace benchmarking at first. But if you can show its value and make the process easy, you should be able to get everyone on board.
Mission-focused work
Employees ... Read More ›
Do your not-for-profit’s accounting processes work perfectly — with no errors, delays or other inefficiencies? If yours is like most organizations, probably not. But if your nonprofit is committed to improvement, you have an edge over those that accept the status quo. Whether it’s building budgets, paying invoices or preparing financial statements, there’s almost always something ... Read More ›