How much does a professional fundraiser bond cost in Alabama?
The Alabama Office of the Attorney General requires professional fundraisers, solicitors, and co-venturers to post $10,000 surety bonds. The $10,000 fundraiser bond costs $150 for a 1-year term. Or, you can save $75 and time on renewals by selecting a 3-year term.
Why do I need this bond?
Alabama professional fundraiser or commercial co-venturer surety bonds protect the state and any person who suffers financial loss as a result of the principal’s (fundraiser’s) unlawful business practices. .
If the principal fails to conduct business in accordance with the law, harmed parties are protected up to the full bond amount. The fundraiser must reimburse the surety for all damages paid out.
What’s the fine print?
Alabama professional fundraiser bonds have a one-year term. In the event of cancellation, revocation or expiration of this bond, the surety must give written notice to the Attorney General’s Office via certified mail at least 30 days in advance.
How to become a professional fundraiser in Alabama
Before you can begin conducting business as a professional fundraiser in Alabama, you must first be registered. Registration applications must be completed before being submitted to the Office of the Alabama Attorney General. Completed applications should include:
- $10,000 surety bond
- registration and annual fees
Professional fundraisers and commercial co-venturers must pay a $100 annual registration fee, and professional solicitors must pay a $25 annual registration fee.
All registrations are valid for a one-year period and have a set expiration date of September 30.
Additional Resources
- State of Alabama Office of the Attorney General Professional Fundraiser or Commercial Co-Venturer and Professional Solicitors
- Title 13A Criminal Code - Article 3 Charitable Fraud
- Professional Fundraiser/Commercial Co-Venturer Registration Statement
- Professional Fundraiser or Commercial Co-Venturer Surety Bond
- Professional Solicitor Registration Statement
