A New Jersey Professional Fund Raiser’s Bond is a surety bond required by the New Jersey Division of Consumer Affairs for all professional fundraisers who are compensated for soliciting for or on behalf of a charitable organization in the state. Anyone who acts as a professional fundraiser in the state of New Jersey must obtain a New Jersey Professional Fund Raiser’s Bond. This includes individuals and businesses that are paid to solicit donations for charitable organizations, such as:
- Independent paid fundraisers
- Fundraising counsels
- Direct mail solicitors
- Event organizers
How to Get a New Jersey Professional Fund Raiser’s Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the New Jersey Professional Fund Raiser’s Bond will be shipped to the bond applicant. The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150 to$250. Surety1 will shop its many markets to procure the right price at the right terms.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003. Rated A+ by the Better Business Bureau.
What is the purpose of a New Jersey Professional Fund Raiser’s Bond?
The primary purpose of the New Jersey Professional Fund Raiser’s Bond is to protect consumers from financial losses that may arise due to the fundraiser’s:
- Misappropriation of funds: The bond ensures that consumers’ funds entrusted to the fundraiser for transactions like premium payments, escrow funds, or commissions are safeguarded.
- Unintentional errors: The bond compensates for unintentional errors or omissions on the fundraiser’s part, such as incorrectly processing donations or failing to properly account for funds.
- Fraudulent activities: The bond covers losses caused by the fundraiser’s intentional acts of fraud or misrepresentation, such as falsely claiming tax-deductible donations or forging documents.
If the surety company pays a claim on the bond, it will seek restitution from the bond principal (licensee).