IL SB2907

Raises the contribution threshold from $300,000 to $750,000 for requiring charitable organizations to file detailed financial reports with the Attorney General, including audited financial statements with an independent CPA opinion

Organizations receiving between $25,000 and $750,000 (previously $300,000) in contributions may file simplified written reports instead of full audited financial statements

Maintains the $25,000 threshold for organizations using paid fundraisers to file reports, and the $15,000-$25,000 threshold for filing simplified summary financial statements

Amends the Solicitation for Charity Act (225 ILCS 460/4) to reduce reporting burdens on mid-sized charitable organizations registered in Illinois