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Why is a New York Fund Raiser Bond Required?
The professional fundraiser surety bond is for the benefit of anyone who may have a cause of action against the principal or its authorized representatives for any malfeasance or misfeasance in the conduct of a solicitation by the principal as a Professional Fund Raiser.
Fund Raiser Bonds And Getting Your New York Business License/Registration
New York fundraising professionals are required by law to register annually and file fundraising contracts with the state Attorney General's Office. In addition, financial reports and surety bonds may also need to be filed depending on the nature of fundraising activities. Forms, rules and instructions on how to properly register with the Attorney General's Charities Bureau along with descriptions of bonding and filing requirements can be found by contacting the New York Charities Bureau.
Per §§171-a, Executive Law, the New York Charities Bureau defines a Professional Fund Raiser as "any person who directly or indirectly, by contract, including but not limited to sub-contract, letter or other agreement or other engagement on any basis, for compensation or other consideration (a) plans, manages, conducts, carries on or assists in connection with a charitable solicitation or who employs or otherwise engages on any basis another person to solicit from persons in this state for or on behalf of any charitable organization or any other person, or who engages in the business of, or holds himself out to persons in this state as independently engaged in the business of soliciting for such purpose; (b) solicits on behalf of a charitable organization or any other person; or (c) who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization but is not a commercial co-venturer. A bona fide director, trustee, officer, volunteer, or employee of a charitable organization or a fund raising counsel shall not be deemed a PFR."
The following items are required for Professional Fund Raiser Registration:
- Complete Form CHAR013 with appropriate attachments
- Request Fund Raiser Surety Bond as described on this page
- Pay annual registration fee to the “New York State Department of Law”
- Provide copies of all current contracts with charitable organizations required to be registered that were not previously filed
- Provide copies of all organization documents
- Submit copies of all delinquent Professional Fund Raiser Interim/Closing Statements (Form CHAR037)