How much does a professional fundraiser bond cost in Massachusetts?
The Massachusetts Office of the Attorney General requires professional fundraisers and solicitors who work in the state to post a $25,000 surety bond. These bonds are subject to underwriting, which means that the amount an applicant will pay for this bond is directly related to their credit report.
With strong financial credentials, clients can expect to pay as low as $250 for their bond when working with SuretyBonds.com. But don’t worry if you have bad credit, because our team of experts is dedicated to getting you the bond you need at the best price possible - no matter your credit score. Request your free, personalized surety bond quote online now, or call 1 (800) 308-4358 to speak with surety bond expert.
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Professional Solicitor Bond||$25,000||Starts at $250||$1,250-2,000||$2,500+||Apply Now|
Ready to take the first step in becoming bonded? Fill out our online bond request form, or give our team a call at 1 (800) 308-4358.
Why do I need this bond?
By posting this bond, professional solicitors and commercial co-venturers agree to comply with the provisions of Sections 18 to 35 of Chapter 68 of the General Laws of Massachusetts. If a professional fundraiser fails to do so, a claim can be made against the bond to provide reparation for damages. Unlawful acts according to these laws include, but are not limited to:
- acting without the necessary Certificate of Registration
- failing to file necessary annual reports
- making false statements about money donated
- using any device or promise to gain money in a fraudulent manner
- failing to keep any and all records of fundraising public
What’s the fine print?
The bond form must indicate whether the applicant is registering as a professional solicitor or a commercial co-venturer.
This type of bond expires annually on December 31 and must be renewed if the solicitor wishes to remain registered. If the bond is to be canceled, the surety must provide 30 days of written notice to the Massachusetts Office of the Attorney General.
How to become a professional fundraiser in Massachusetts
Getting bonded is only the first step toward becoming a registered professional fundraiser. In addition to your surety bond, the following materials must also be submitted to the Office of the Attorney General in Massachusetts:
- registration statement
- filing fee
- a copy of each fundraising contract
- annual financial report
Detailed licensing information can be found in the “Additional Resources” section of this page.
Ready to get started?