RV-12 Raffle

SRQ Jim

Filing Flight Plan
Joined
Apr 24, 2019
Messages
1
Display Name

Display name:
Jim Faix
RV-12 Raffle

Hello everyone. This is my first post.

As a spin-off from our EAA chapter's Young Eagles program, a group of local pilots started a 501(c)3 corporation called Teen Aircraft Factory of Manasota, Inc. It's based in Sarasota FL. Our purpose is to engage at-risk teenagers to build an airplane to learn building skills, teamwork, cooperation and other life skills (ie. "show up" and "be on time"). This has all the elements of a STEM program(Science, Technology, Engineering and Math). We had a group of 8 teenagers who assembled this Vans RV-12 airplane. It was certified as airworthy last August. This is our second RV-12 and we're trying to sell it, but have had few takers. Now we're considering raffling it off. We need to sell it in order to fund our third aircraft, a RV-12is, currently underway. Our program has gained in popularity and now have 15 teenagers and 10 mentors in the build program. The program is free to the teenagers and our mentors are all volunteers.

We are considering accepting 1000 $100 donations for a chance to enter the raffle in order to reach our goal of $100,000. If the goal falls short, we would offer a 50/50 drawing as the alternative. Each donation would be tax deductible since we are a 501(c)3.

We need some advice on how do conduct the raffle and we heard that PoA has done this before. Any advice would be appreciated.
 
Check with the tax man on the deductibility. Raffles are not considered donations because you are entering a contest.

Plus, with the new standard deduction, most people aren’t going to itemize anyway.
 
1) Call Wings of Hope and ask them for advice
2) You're more likely to sell 2000 x $50 tickets than 1000 x $100
3) get the feelers out for some donations for more prizes
4) figure out a good market value for the plane. the winner will be getting a tax bill based on it.
 
Don't know how to set up a raffle you likely need a lawyer but I think your 1,000 tickets is low. Wings of Hope which holds 2 raffles per year IIRC just sold 4,000 tickets in about 4 hours for a 1978 Beechcraft C-23 Sundowner. Link is below

https://wingsofhope.ngo/airplane-raffle/
 
1) Call Wings of Hope and ask them for advice
2) You're more likely to sell 2000 x $50 tickets than 1000 x $100
3) get the feelers out for some donations for more prizes
4) figure out a good market value for the plane. the winner will be getting a tax bill based on it.

This! I'd buy one at $50. $100, not so much...
 
We need some advice on how do conduct the raffle and we heard that PoA has done this before. Any advice would be appreciated.
Just to be clear... PoA has NOT done this before.

However you will likely get plenty of good advice from members with experience with these :).
 
RV-12 Raffle

Hello everyone. This is my first post.

As a spin-off from our EAA chapter's Young Eagles program, a group of local pilots started a 501(c)3 corporation called Teen Aircraft Factory of Manasota, Inc. It's based in Sarasota FL. Our purpose is to engage at-risk teenagers to build an airplane to learn building skills, teamwork, cooperation and other life skills (ie. "show up" and "be on time"). This has all the elements of a STEM program(Science, Technology, Engineering and Math). We had a group of 8 teenagers who assembled this Vans RV-12 airplane. It was certified as airworthy last August. This is our second RV-12 and we're trying to sell it, but have had few takers. Now we're considering raffling it off. We need to sell it in order to fund our third aircraft, a RV-12is, currently underway. Our program has gained in popularity and now have 15 teenagers and 10 mentors in the build program. The program is free to the teenagers and our mentors are all volunteers.

We are considering accepting 1000 $100 donations for a chance to enter the raffle in order to reach our goal of $100,000. If the goal falls short, we would offer a 50/50 drawing as the alternative. Each donation would be tax deductible since we are a 501(c)3.

We need some advice on how do conduct the raffle and we heard that PoA has done this before. Any advice would be appreciated.
Note that the price of a raffle ticket is not a donation.
 
Juliet Hotel has the right info. Contact a local attorney that's familiar with conducting a raffle in your state as every state has completely different laws regarding what you can and can not do. And I will echo the $50 is a lot closer to what I'd part with on a long shot.
 
For what it's worth, I'd buy a ticket at either price. I'm not a pilot, yet. So that would be my luck, win a plane I cannot fly and get the huge tax bill.

Good luck, it sounds like you're doing great things for those kids. I volunteer a lot of time cleaning up parks and with organizations that help people in need and students. What you're doing sounds fun as heck! Anyone want to start something similar in South central Virginia, Kerr Lake area, I am in!
 
Which ever way you go, definitely let us know because people are interested in participating in the raffle.
 
Yes, shout out, I'd rather gamble with your org than my state lottery. . .
 
Back
Top