The California Registry of Charitable Trusts Surety Bond is required by the California Department of Justice, Office of the Attorney General.
What are the requirements for Charitable Trusts in California?
The state defines a Charitable Trust as an any individual, corporation, or other legal entity that, for compensation, does any of the following:
- Solicits funds, assets, or property, or–as a result of a solicitation of funds, assets, or property.
- Receives or controls the funds, assets, or property solicited.
- Employs procure or engages any compensated person to solicit, receive, or control funds, assets or property for charitable purposes.
All charitable trustees and fundraising professionals are required to register and file annual financial disclosure reports with the Registry of Charitable Trusts. In addition, nonprofit organizations that conduct raffles for charitable purposes are required to register and file an annual financial report.
Pursuant to California Government Code sections 12580-12599.5, in order to register a charitable trust, the following must be submitted to the California Attorney General:
- A completed registration form
- $350 in certified funds
- A $25,000 California Registry of Charitable Trusts Surety Bond
You can read more about Charitable Trusts in California on the Attorney General website, as well access the required forms.
What is the purpose of the California Registry of Charitable Trusts Surety Bond?
This bond states that the agency will use the funds in the intended way, will not engage in fraud, misrepresentation, or deceitful acts and helps guarantee that the charity will follow all regulations, rules, and laws set forth by the state. The bond does not act like insurance, as the principal (the charitable trust agency) must pay back the surety company (the company that issued the bond) for any losses that might occur from a claim.
CLICK HERE to view a copy of the Registry of Charitable Trusts Surety Bond form
Where can I get a California Registry of Charitable Trusts Surety Bond?
Surety1 can issue this bond quickly and reliably! To apply, all you need to do is submit our free online application! One of our licensed agents will contact you within one business day with a firm, no-obligation quote for the premium. If you choose to move forward after hearing the quote, we will have you sign any necessary paperwork and remit the premium payment. Once the payment is processed we will ship your California Registry of Charitable Trusts Surety Bond to you via USPS Priority Mail, with overnight shipping options also available!
The surety bonding experts at Surety1 work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau!
Located in Rancho Cordova, California.