As for any other 501c3 International Charity Organization that raises over $200,000, the IRS requires that our financials be audited annually.

In 2025, RUF's external tax preparation and audit expenses totaled more than $12,000:

• These expenses represent the cost of engaging independent professionals to support RUF's tax compliance, financial reporting, and independent audit requirements,
• RUF believes that independent financial oversight is an important part of maintaining accountability to our donors, partners, and the communities we serve,
• Our commitment to transparency means that we strive to clearly communicate how donated funds are managed and how RUF maintains appropriate financial oversight and compliance.

Illinois Nonprofit Audit and Financial Review Requirements

Illinois charitable organizations are subject to financial reporting requirements based on the amount of annual contributions they receive.

Generally, under Illinois law:

• More than $500,000 in annual contributions: audited financial statements prepared by an independent CPA are required,
• More than $300,000 but not more than $500,000: financial statements reviewed by an independent CPA are required,
• $300,000 or less: an independent CPA audit or review is generally not required based solely on the contribution amount, although the organization remains subject to applicable annual reporting requirements.

When a professional fundraiser is required

A separate threshold applies when a charitable organization uses a paid professional fundraiser, as follows:

• If a professional fundraiser raises more than $25,000 in contributions during the fiscal year, the organization is subject to the independent CPA audit requirement under Illinois law, regardless of whether its total contributions otherwise exceed $500,000,
• The term "professional fundraiser" is specifically defined under Illinois law, and different rules may apply to professional fundraising consultants who provide services for a fixed fee rather than soliciting contributions on behalf of the organization.

These financial reporting requirements are part of a charitable organization's annual reporting obligations with the Illinois Attorney General.

Romanian United Foundation works with the following entities on taxes & audit:

About Clever Taxes - Tax preparation

Contact: Claudiu Cornetti, Clever Taxes
Address: 305 Ellery Ct, Edgewater, NJ 07020
Website: https://www.clevertaxes.pro/

About Blue Stone CPA - Audit

Contact: Bogdan Stanciu, Blue Stone CPA
Address: 418 Broadway #10086, Albany, NY 12207, USA
Website: https://www.bluestonecpa.com/

Our law firm is Wagenmaker & Oberly, LLC. The firm provides legal services to nonprofit organizations and others within the philanthropic sector. The firm serves as legal counsel to hundreds of local and global nonprofit and tax-exempt organizations. The firm has locations in Chicago, New York, and Charleston.

About Wagenmaker & Oberly, LLC

Contact: Ryan Oberly, Partner at Wagenmaker & Oberly, LLC
Address:53 W Jackson Blvd., Suite 1734, Chicago, IL 60604
Website: wagenmakerlaw.com

[1] https://www.linkedin.com/company/wagenmaker-&-oberly-llc
[2] https://www.lawyer.com/firm/wagenmaker-oberly-llc-sc.html
[3] https://www.wagenmakerlaw.com
[4] https://www.linkedin.com/in/ryanoberly