Persons engaged in the business of professional fundraising in Virginia are regulated by the Department of Agriculture and Consumer Services, Office of Charitable and Regulatory Programs.
To be licensed as a fundraiser, a surety bond must be furnished.
AmeriPro Surety Bonds offers the professional fundraiser bond as both a new (first time) and renewal (existing fundraisers) surety bond.
According to the Code of Virginia, § 57-61, as a professional fundraiser, you are required to obtain a $20,000 surety bond.
As an applicant for the Virginia professional fundraiser or solicitor surety bond, you will likely pay a premium which is about 1%-4% of the bond’s amount. That amount, however, may vary based upon the credit scoring of the applicant or the business.
Applicants with vary good credit will typically pay about 1%, or $200 annually for this surety bond.
The Virginia professional fundraiser bond will expire in one year from the date of issuance.
AmeriPro Surety Bonds offers a prepayment for this bond for 2 years which may result in a slight savings over a year to year bond renewal.
The purpose of this surety bond is for the protection of the public.
In short, the existence of the professional fundraiser bond protects against acts of malfeasance and other wrongful acts committed by a professional fundraiser.
The protections afforded the public also extend to wrongful acts (malfeasance, misfeasance, and nonfeasance) committed by any employees, agents, or managers of a licensed fundraiser entity.
As principal of this surety bond, you are responsible to the surety for any claims and fees paid against your bond. The fundraiser surety bond is not an insurance policy; it truly is a surety policy.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout Virginia.
Our agency also provides surety bonds nationwide.
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