Get the free Policy Statement on Raffles as Fundraisers - fauf fau

Florida Atlantic University Division of Institutional Advancement SUBJECT Policy Statement on Raffles as Fundraisers Effective Date Policy Number 06/24/2013 Responsible Authority Asst. Because raffles are considered a wagering activity by the IRS and the State of Florida the FAU Foundation does not consider any payment for the purchase of a raffle ticket as a contribution. According to the IRS the cost of raffles bingo lottery etc. cannot be deducted as a charitable contribution. Additionally...

How to fill out policy statement on raffles

How to fill out policy statement on raffles

1. Read the guidelines and regulations for conducting raffles in your jurisdiction.
2. Understand the purpose and objective of the policy statement on raffles.
3. Start by clearly stating the organization's name and contact information at the top of the policy statement.
4. Provide an overview of the organization's raffle activities and their significance.
5. Include information about the legal requirements and restrictions associated with conducting raffles.
6. Outline the process for obtaining necessary permits and licenses.
7. Specify the eligibility criteria for participants, such as age restrictions or membership requirements.
8. Explain the ticketing process, including pricing, distribution, and sales methods.
9. Detail the prize structure, including the types of prizes, their value, and how winners will be determined.
10. Outline any additional terms and conditions, such as refund policies or liability disclaimers.
11. Include a section on record-keeping and reporting requirements.
12. Review and proofread the policy statement to ensure clarity and accuracy.
13. Distribute the policy statement to relevant stakeholders, such as board members, volunteers, and participants.
14. Regularly review and update the policy statement to remain compliant with changing laws and regulations.

Who needs policy statement on raffles?

1. Non-profit organizations that conduct raffles as a fundraising activity.
2. Memberships clubs or organizations that host raffles as part of their events or activities.
3. Charities or community groups seeking to raise funds through raffles.
4. Businesses or individuals organizing raffles for promotional purposes.
5. Individuals interested in understanding the guidelines and regulations regarding raffles.

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What is policy statement on raffles?

The policy statement on raffles is a document that outlines the rules and regulations governing raffles and fundraising activities.

Who is required to file policy statement on raffles?

Nonprofit organizations and charities that conduct raffles are required to file a policy statement on raffles.

How to fill out policy statement on raffles?

The policy statement on raffles can be filled out by providing information about the organization, the purpose of the raffle, the prizes being offered, and the rules and regulations governing the raffle.

What is the purpose of policy statement on raffles?

The purpose of the policy statement on raffles is to ensure transparency and compliance with laws and regulations governing raffles.

What information must be reported on policy statement on raffles?

Information that must be reported on the policy statement on raffles includes the organization's name, address, purpose of the raffle, prizes being offered, and rules and regulations.