Information on Professional Fundraiser Bonding
If you’re a professional fundraiser, or even if you just raise funds for charitable purposes, you’ve probably been told that you need a surety bond. Don’t worry; you’re not alone if you’re wondering what a surety bond is. The experts here at SuretyBonds.com know the bonding application process can be confusing, so we’ve created this guide to make it quicker and easier for you.
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. Select your state below for more information about Collection Agency Bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
- West Virginia
Wondering why you need a bond?
Government agencies in many states require professional fundraisers to file proof of surety insurance before they can raise funds for commercial or charitable purposes. When it comes to fundraising, surety bond forms have a number of different names, including:
- charitable solicitation bond
- charitable trusts bond
- commercial fundraiser bond
- commercial fundraiser for charitable purposes surety bond
- paid solicitor bond
- professional solicitor bond
No matter the specific name, all fundraising bonds work in the same basic way: by ensuring that the funds you raise will be allocated, forwarded and used appropriately otherwise.
Get a fundraiser bond despite bad credit
Our surety specialists believe that all applicants deserve to get the bonds they need. As such, SuretyBonds.com offers an exclusive bad credit surety bond program to help applicants who have poor credit scores. If your credit score means you can’t qualify for the standard bonding market, we’ll shop your bond with insurance companies that specialize in writing bad credit bonds.
Pay a low cost for your surety insurance
Your commercial fundraiser bond premium will be determined based on how much coverage you need combined with your financial credentials. Those who qualify for the standard market will pay a rate that’s 1.5 to 4 percent of their bond amount. For a $10,000 bond in Alabama, the cost would be about $150 to $400. Those who qualify for the nonstandard (bad credit) market will pay a higher rate that’s based on their credit score.
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. You can reach us by phone at 1 (800) 308-4358 between the hours of 7 a.m. and 7 p.m. CST Monday through Friday. Or, you can fill out a contact form online 24/7, and a surety specialist will call you as soon as possible.
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.
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 at your disposal:
- your state’s required bond amount (For example, Alabama 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
Once you approve your surety quote and pay your premium, your surety specialist will execute your bond paperwork and mail it to you. If you need your bond ASAP, you can even choose our overnight shipping option and have the bond in your hands the next day. If you have questions about the application process, contact SuretyBonds.com now!
How does fundraiser bonding work?
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. Fundraising consultants, counselors, grant writers and associates all fall within the definition of a professional fundraiser – which means they all need to be bonded.
To comply with the statutes specified in commercial fundraiser bonds, professionals must plan, conduct, manage and carry out drives, campaigns and solicitations according to local, state and federal laws.