Persons engaged in professional, charitable fundraising in Michigan must act and register according to the state’s Charitable Organization and Solicitations Act.
One of the requirements of the Act is that a professional fundraiser entity obtain a $10,000 surety bond.
This bond is available from AmeriPro Surety Bonds as both a new (first time) and renewal surety bond.
Your professional fundraiser bond protects the people of the state of Michigan, other charitable institutions, and individuals, from any acts of fraud, theft, embezzlement, or malfeasance on the part of a fundraiser entity. (Section 400.287)
Should any of these groups be able to credibly demonstrate some real harm, they are permitted to file against your surety bond to recover losses up to the bond’s $10,000 amount (in total).
As principal (owner) of the surety bond, you are legally responsible to reimburse the surety for all costs and fees involved in the satisfaction of any claim against your bond.
By state statute, the Michigan professional fundraiser bond has a termination date of June 30th .
The cost of the bond will be determined by a brief application and a credit check. As a general rule, most applicants will only pay about 1.5-5% of the bond’s $10,000 amount.
Moreover, because of the bond’s low pricing, it may be prepaid for up to 3 years, thereby offering a substantive savings over an annual renewal of the bond’s premium.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, contractor, court, and fiduciary surety bonds throughout Michigan.
We also provide surety bonds nationwide.
Obtaining your Michigan professional fundraiser bond is rather easy and will not take long at all.
Please call our agency today at:
Or, you may fill out our contact form and an agent will call you: