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Information on Professional Fundraiser Bonding
Professional fundraisers (also known as professional solicitors) are individuals or businesses who have the job of facilitating and executing fundraising activities for charitable organizations. In many cases, these professionals are required to register, become licensed, and post a surety bond to legally act. If you are unsure what a surety bond is the experts here at SuretyBonds.com created this guide to make professional fundraiser bonding easier for you.
Learn more about Fundraiser Bonds
A professional commercial fundraiser surety bond is a type of license and permit surety bond. In most cases, state governments require this type of surety bond before an entity can be licensed as a professional solicitor or fundraiser for a charitable organization. Professional fundraisers include fundraising consultants, counselors, grant writers and associates.
The fundraiser bond ensures that funds will be managed properly and protects charitable organizations from losses, damages or wrongdoings by the principle. If a claim is made on this bond, in some cases the surety will provide the initial compensation to the charity or state, however you, the principal, are responsible for reimbursing the surety agency in full in a timely manner.
State Specific Costs by State
Bond costs and requirements vary greatly by state as the bond amounts and regulations surrounding each license are established on a state level. Most professional fundraiser bond amounts range from $10,000 to $50,000. However, the principal only needs to pay a premium (a percentage of this bond amount) to acquire this bond. The premium depends on the solicitor’s credit score, and for the standard market, can range between 1% and 4% of the bond amount. Select your state below for more information about professional fundraiser bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
Poor Credit? No worries.
Our surety specialists believe that all applicants deserve to get the bonds they need. For this reason, SuretyBonds.com offers an exclusive bad credit surety bond program to help applicants who have below average credit scores. If your credit score means you do not qualify for the standard bonding market, we’ll shop your bond with insurance companies that specialize in writing poor credit bonds to make sure we find the best rate for you.
Get your bond fast!
During the application process, your account manager will review the necessary credentials before approving your application. To get through the process as quickly as possible, you’ll need to have the following information available:
- Your state’s required bond amount (Alabama, for example, requires $10,000 worth of coverage.)
- Your personal financial records (including credit scores)
- Your company’s financial records (if applicable)
- Your previous work history as a fundraiser (if applicable)
- Other relevant documentation as requested
Apply for a quick and easy professional fundraiser bond
The specialists at SuretyBonds.com make the application process easy for those who wish to raise funds professionally. Follow three easy steps to get your surety bond asap.
- Fill out an application at your convenience
- Once you’ve submitted your application, your account manager will shop your bond around with our exclusive underwriting markets to ensure you get the lowest rate available. Your account manager will issue your bond once your payment has been processed.
- You’ll receive an e-mail copy of your bond right away, and you’ll receive the original bond form in the mail according to your shipping preferences.
What are you waiting for? Get started now!