IL HB5814

Raises the reporting threshold for charitable organizations from $300,000 to $750,000 in annual contributions, requiring detailed financial reports only for organizations exceeding this amount.

Establishes a mid-tier reporting requirement for charitable organizations receiving between $25,000 and $750,000 in annual contributions, requiring a simplified written report with basic financial information.

Maintains existing filing deadlines of June 30 for calendar-year organizations or within 6 months after fiscal year-end, with a $15 annual filing fee and $100 late filing penalty.

Allows veterans organizations chartered under federal law and charitable property donation agents to file alternative documents (such as federal Form 990 filings and notarized donation reports) instead of standard state reports.

Directs all late filing fees to the Illinois Charity Bureau Fund for enforcement and public dissemination of charitable trust information.