Professional Fundraiser Bond cost
The Securities Division of Rhode Island’s Department of Business Regulation requires professional fundraisers to post $10,000 surety bonds as a licensing requirement.
These bonds require surety underwriting consideration, but qualified applicants could pay as low as $100 for their bonds. The best way to find out exactly how much you’ll pay for your Rhode Island surety bond is to request your free, no-obligation surety bond quote now!
Why this bond
By posting a Rhode Island professional fundraiser surety bond, principals (professional fundraisers) pledge to conduct business ethically and in accordance with all laws of the state and industry. Prohibited acts under this bond 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
- and more
These bonds ensure that harmed parties are protected from any losses resulting from the principal’s malfeasance, non-feasance or misfeasance in the conduct of solicitation activities up to the full bond amount of $10,000. The principal must reimburse the surety for all damages paid out.
Professional fundraiser bond details
Rhode Island professional fundraiser bonds remain in full force and effect until canceled or violated.
The Department of Business Regulation can terminate or cancel the bond at any time. The surety can also cancel or terminate the bond by giving written notice of cancellation to the Department. Cancellation becomes effective 60 days after the notice is received.
Become a professional fundraiser
Any organization or person that solicits contributions or intends to hire a person or business to solicit contributions for charitable purposes in Rhode Island must obtain the appropriate registration. Information required on the registration application includes:
- official name and address of the organization
- date/place of establishment of the organization
- entity type of the organization
- copies of all contracts with charitable organizations
- all additional names and addresses of all officers, agents and employees
- proof of a surety bond
- and more
All required application fees must be paid in full at the time of application.
Take the first step toward becoming licensed in Rhode Island by purchasing the surety bond you need quickly, easily and accurately!
Apply for your surety bond
Get a FREE Rhode Island Professional Fundraiser Bond Quote Today! Click here to begin