New Bond Requirement for Charitable Solicitation
The Charitable Solicitation Bond will guarantee that you will not misrepresent yourself or your charity while engaging in fundraising activities. Members of the public and the charities can collect on this bond. It seems like this is the Colorado legislature’s answer to several cases of sham charities operating in Colorado over the last several years.
Effective on August 10, 2016 all organizations or persons who are paid to raise money for charities in Colorado will be required to file a $15,000 bond with their registration notice to the Secretary of State’s office. If you are currently registered, you will not be required to have this bond in place until you renew your registration after August 10, 2016. Anyone who files this form as required by state law, will also be required to provide a Bond written by a Surety company authorized to do business in Colorado.
We are writing these bonds for $150.00 at the present time. Only people and organization that raises money for a fee for the charity will be required to post this bond. The individuals that work for the fundraising organization do not have to buy this bond. If you are an individual paid to raise money as a contractor, then you will need to file this notice and purchase a bond.
We can make this new requirement easy for you, one phone call and you are done if you qualify.
More information about registering a charity or fundraiser with the Secretary of State of Colorado is available on their website.
The full bill is also available online for light reading.