Massachusetts Professional Fundraiser Bond |
AmeriPro Surety Bonds | 844-589-9732
Professional Fundraisers – Massachusetts
Fundraisers operating in the Commonwealth of Massachusetts are required to provide the Attorney General Office evidence of filing the appropriate surety bond.
AmeriPro Surety Bonds offers you this professional fundraising surety bond as both a new and renewal surety bond.
Massachusetts Professional Fundraiser Bond: Amount Required, and the Premium
The Massachusetts professional fundraiser bond is also known as a Massachusetts professional solicitor or commercial co-venturer surety bond since both categories are related.
Both the Massachusetts fundraiser and commercial co-venturer surety bonds are for $25,000.
The premium for this surety bond may be offered to you without a credit check as an “instant issue” surety bond; or, if you want to see if you qualify for lower premium pricing, with a credit check. Applicants can expect to pay several hundred dollars. The amount will be determined by information supplied on a surety bond expiration and the year in which you select the expiration date.
Massachusetts Professional Fundraiser Bond: The Surety Bond’s Duration
Regardless of when your professional fundraiser surety bond is purchased, the expiration date of the bond will be on 12/31. The expiration date can be on December 31st of the same year or up to two years after the bond’s purchase, however you prefer.
Selecting an expiration date of in a year which is further out will increase the premium to be paid; however, there is a slight savings over a year to year annual renewal.
The Purpose of this Surety Bond
The purpose of this surety bond is a financial guarantee which will ensure your compliance with all laws relating to fundraising within the Commonwealth.
While the surety bond is required of your charitable organization, its benefit are for any donors who are financially harmed or mislead by a licensed charity which acts unlawfully.
Such protections afforded others by the surety bond include the following:
- Misrepresenting the nature of your charity;
- Giving the impression that the funds used for the charity will be used locally, when in fact they will not;
- Other reasons as given by the state Attorney General.
In short, the surety bond is designed to protect donors from acts of fraud, theft, criminal malfeasance or misfeasance in the operations of a charitable entity, which can be demonstrated to have caused harm.
Therefore, while the bond is a prerequisite for licensing in the Commonwealth, its protections are for any potential donors.
As principal for the fundraiser bond, you guarantee that you will repay the surety for any claims paid against your surety bond, if such were ever to occur.
AmeriPro Surety Bonds is a surety bonds-only entity. We provide license and permit, contractor, court, and fiduciary surety bonds throughout Massachusetts, the rest of New England, and natiowide.
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