Professional Solicitor ($25,000) Bond - Statewide in Pennsylvania

Brief Summary

A fundraising firm posts one $25,000 bond for the whole company, not one per caller. Pennsylvania lets a partnership or corporation file a single bond on behalf of all its partners, members, officers, directors, agents and employees, on the Department of State's own Form BCO-160, so the bond you buy here covers your entire registration.

Pennsylvania requires every professional solicitor to register with the Department of State, Bureau of Corporations and Charitable Organizations, before soliciting for a charitable organization, and to file a $25,000 bond on Form BCO-160 under the Solicitation of Funds for Charitable Purposes Act (10 P.S. 162.1 et seq.). Registration costs $250, lasts one year and is renewed each year with a new registration statement and renewal of the bond.

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How to Apply for a Professional Solicitor ($25,000) Bond:

• Complete Registration Statement for Professional Solicitor, Form BCO-155.
• Obtain the $25,000 bond on Form BCO-160 with the surety's power of attorney attached.
• Pay the $250 registration fee to the Commonwealth of Pennsylvania.
• File each charitable contract and solicitation notice at least ten working days before soliciting, with $25 for each notice.
• Renew the registration and bond every year.
• File a financial report within 90 days after each campaign or event ends.

Detailed Information About the Pennsylvania Professional Solicitor ($25,000) Bond:

One bond covers the firm

The Solicitation of Funds for Charitable Purposes Act requires professional solicitors to register with the Bureau of Corporations and Charitable Organizations before soliciting for charitable organizations in Pennsylvania. The registration statement is Form BCO-155 and the bond is Form BCO-160, in the sum of $25,000. A partnership or corporation may file one $25,000 bond on behalf of all its partners, members, officers, directors, agents and employees. An individual working on their own registers and bonds separately unless covered by a firm's registration.

The bond runs with the registration

The BCO-160 form makes the Commonwealth of Pennsylvania the obligee, for the use of the Secretary of the Commonwealth, the Attorney General and any person with a valid claim against the solicitor. The bond is conditioned on the solicitor observing the laws of the Commonwealth and the Bureau's rules, and the form states that it expires one year from its effective date. It must stay in effect as long as the registration is in effect. The Bureau allows renewal of the bond with a Continuation Certificate.

Registration alone does not let you start a campaign

This is the step firms most often miss. A copy of each contract with a charitable organization, together with a solicitation notice, must be filed with the Bureau at least ten working days before solicitation begins. Each additional campaign under an existing contract needs a solicitation notice addendum filed at least ten working days before it starts. The fee is $25 for each solicitation notice. Contract extensions must be filed at least ten working days before the contract ends. Fines for failing to register or file contracts can reach $1,000 per violation plus up to $100 per day.

Fees, term and reporting

The registration fee is $250, payable to the Commonwealth of Pennsylvania. Each registration is valid for one year and is renewed by filing a new registration statement, the $250 fee and renewal of the bond. A financial report is due within 90 days after a campaign or event ends, and on the anniversary of any campaign lasting more than one year.

Disclosure questions on the application

Form BCO-155 asks whether the applicant or its officers, directors, controlling persons or employees have been convicted of any felony, or of a misdemeanor involving dishonesty or arising from charitable solicitation, and whether any license or registration has been denied, suspended or revoked. Answer these fully before the bond is issued.

Eligibility and Requirements for a Pennsylvania Professional Solicitor ($25,000) Bond:

• Bond amount of $25,000 on the Department of State's Form BCO-160.
• Commonwealth of Pennsylvania named as obligee.
• One bond may cover a firm and all of its partners, members, officers, directors, agents and employees.
• Bond kept in force for as long as the registration is in effect.
• Signed bond and power of attorney carrying matching execution dates.

Pennsylvania Professional Solicitor ($25,000) Bond FAQs:

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