Arizona — Fundraiser / Charitable Trust Bond

Arizona — Fundraiser / Charitable Trust Bond (ARIZONA-FUNDRAISER / CHARITABLE TRUST BOND)

The Fundraiser / Charitable Trust Bond in Arizona is a form of financial guarantee required for most organizations involved in fundraising and charitable activities. This bond protects consumers and the government from fraudulent actions, contract violations, or other problems related to fundraising activities in Arizona.

What does a Fundraiser / Charitable Trust do?

Fundraiser / Charitable Trust is an organization or business engaged in raising funds and managing charitable trusts for various social, cultural, or humanitarian causes. The main goal of such companies is to attract donations from individuals, organizations, and sponsors who wish to support certain charitable initiatives. Charitable trusts may focus on supporting medical research, education, helping the underprivileged, environmental protection, and many other important issues.

Fundraising organizations need to have transparent and ethical strategies to gain donors’ trust and ensure that the funds collected are used for societal benefit. They can organize charity events, online campaigns, and use various resources to inform the public and engage more people in charitable activities.

Example: Boris and his Charitable Trust

Boris is the founder and head of a charitable trust supporting orphans and underprivileged families. His trust actively raises funds to build shelters and provide educational assistance to children. Boris organizes regular fundraising events such as charity dinners and auctions and has launched an online campaign for donations through social media.

At one event, Boris organized a large charity ball attended by local businessmen and philanthropists. The event was successful, and Boris was able to collect significant funds to build a new orphanage. Thanks to his efforts and community support, the project was completed, providing many children with better living conditions and access to education.

Boris continues to expand his charitable trust by attracting more sponsors and conducting awareness campaigns to bring attention to important charity-related issues.

Thus, Fundraiser / Charitable Trust is a fundraising organization dedicated to helping those in need, as demonstrated by Boris, who successfully runs his trust and organizes events to gather resources for good causes.

How much does a Fundraiser / Charitable Trust Bond cost in Arizona?

The cost of a Fundraiser / Charitable Trust Bond in Arizona varies depending on the bond amount, which ranges from $100 to $25,000. The standard rate for this bond ranges from 2% to 10% annually, with a minimum premium of $100.

Key points about the Fundraiser / Charitable Trust Bond in Arizona:

  • License Requirement: In most states, including Arizona, organizations involved in fundraising must provide a bond as part of the licensing process for charitable activities.
  • Consumer Protection: If an organization violates its obligations, provides false information, or harms consumers, clients or the state of Arizona can file a claim against the bond for compensation.
  • Bond Amount: Depending on the state and type of business, the bond amount can vary (usually from $10,000 to $100,000). The organization pays only a portion of this amount as a premium, similar to an insurance policy.
  • Organization’s Obligations: Fundraising organizations must comply with all laws and regulations governing their activities. Violating these rules can result in claims against the bond.

Thus, the Fundraiser / Charitable Trust Bond is an important tool for ensuring trust and protecting the interests of consumers and the government in the U.S.

Example:

Imagine Boris, the director of a charitable fund in Arizona, fails to fulfill his fundraising obligations, resulting in harm to donors. One of the donors files a claim against his bond. Boris lost the bond, and the fund had to pay compensation to the affected donors.

How can agents issue a Fundraiser / Charitable Trust Bond in Arizona?

Agents can issue a Fundraiser / Charitable Trust Bond in Arizona through the online portal.

Additional bonds to consider:

You can explore other bonds on our website.

Underwriting details:

This bond falls under category 3 — Credit Criteria. System approval will be granted if the guarantor meets the required credit history/FICO criteria. For a quote, a Social Security Number (SSN) is required. Bond amounts range from $100 to $25,000. Standard bond rates are 2%, 5%, 7.5%, or 10% annually. The minimum premium is $100. The standard bond term is 1 year. A 25% discount is available for multi-year terms.

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Execution Notes
Bond must have an original signed Attorney in Fact signature.

Filing Method
Executed bond must be filed with the obligee by agent/principal.
You can choose any of these options; all the companies offer solutions that align with your theme.

Pathpoint

Attune

Coterie

Thimble

RLI
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Frequently Asked Questions (FAQ)

Bond Amount ranges from $100.00 to $25,000.00. Standard Rate is 2.00% per year; 5.00% per year; 7.50% per year; 10.00% per year; with a minimum premium of $100.00.

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