Professional fundraiser bond cost
The Illinois Attorney General requires professional fundraisers to post $10,000 surety bonds prior to soliciting or managing charitable donations.
These bonds require surety underwriting, but qualified applicants can expect to pay as low as $100 for their bonds.
Why this bond
By posting an Illinois professional fundraiser’s surety bond, principals (fundraisers/solicitors) pledge to comply with the provisions of “An Act to Regulate Solicitation and Collection of Funds for Charitable Purposes” and any pertaining amendments while on the job. Prohibited actions under this act include:
- Leading people to believe that money and funds are collected for charitable purposes when they indeed are not
- Using a charity’s name without written consent to do so
- Employing any device, scheme or artifice to defraud or obtain money by misrepresentation or misleading statements
- Failing to produce to the Attorney General any books and records of such organization
- And more
These bonds are put in place to protect the state and any person from financial loss that results from the principal’s unlawful business practices. If a claim is proven against the principal, the bond protects harmed parties up to the full penal sum of the bond ($10,000). The principal must reimburse the surety for all damages paid out.
Professional fundraiser bond details
Professional fundraiser bonds in Illinois remain in full force and effect until canceled. These bonds expire on June 30, so your bond premium could be prorated depending on when you buy it. Our team of surety experts works hard to get you bonded according to your specific needs.
A notary public’s signature is required on the bond form.
Become a professional fundraiser
Any organization or person that acts as a professional fundraiser or intends to hire a person or business to solicit contributions for charitable purposes in Illinois must obtain the appropriate registration. The following forms must be included in the submission of the application:
- PFR-01 Professional Fundraiser Registration Statement
- CS-6 Professional Fundraiser Bond
- PFR-06 Professional Fundraiser List of Charities and Contacts
- PS-01 Professional Solicitor Registration Statement
All required application fees must be paid in full at the time of application.
Purchasing your surety bond is the first step toward becoming licensed as a professional solicitor in Illinois.
Apply for your surety bond
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