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FUNDRAISERS; FUNDRAISERS
Topic Started: Jan 12 2006, 12:13 PM (1,092 Views)
Grant
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Principal
Well, they set up a for profit corp. the c-corp will have to report income and pay corporate tax if all funds are not spent. They are required to regisiter with the state to solicit funds from the public. I Raffles require a license.

http://www.michigan.gov/documents/BSL-CG-1...%20license'


Raffle licenses are for non-profits. I don't think a C corp can conduct a raffle.
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Grant1
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We have just begun to fight!
Grant
Jan 13 2006, 09:46 PM
Well, they set up a for profit corp. the c-corp will have to report income and pay corporate tax if all funds are not spent. They are required to regisiter with the state to solicit funds from the public. I Raffles require a license.

http://www.michigan.gov/documents/BSL-CG-1...%20license'


Raffle licenses are for non-profits. I don't think a C corp can conduct a raffle.

More cowbell!!!...I mean information! :P
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Anna Krome
Principal
Recovering from shock here.

Clang, clang, clang...


Anna
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NFarquharson
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Moo
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Administrator
Administrator
I've got a fever, and the only thing that will cure it is.......MORE COWBELL!
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amomof2
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Principal
I went to a bowling fund-raiser (at Cherry Hill Lanes) for a hockey team last October. The tickets were $25.00 per person - included 3 games of bowling, shoe rental and pizza & pop. The profit was $11.00 per ticket. They also got donations from people and local businesses for prizes to raffle off.
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lpsproposalsrbad
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Principal
That doesn't seem like the bowling alley is giving much of a break. I heard through the grapevine that Merri Bowl isn't happy about the L.I. I think someone is looking into it. I haven't had time to read everything on the forum, so I might be repeating, sorry.

Holly
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Rose
Principal
I think Livonia has two other bowling alleys. Can't remember the names. Ones on Schoolcraft and the other is on Plymouth Road.
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Iliveon-Levandownbytheriver
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The one on Plymouth rd is Woodland Lanes...and the one on schoolcraft is Clover lanes I think. Clover lanes is huge....we might be able to get alot of people there. Woodland lanes is really nice...got myself and the kids on a league there...just signed up.


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NFarquharson
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Principal
My kids bowl at Woodland Lanes on Plymouth west of Farmington. There is also Wonderland Lanes on Plymouth east of Middlebelt and Cloverlanes on Schoolcraft east of Middlebelt. I think that covers it in Livonia. Oak Lanes and maybe others in the LPS part of Westland.
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Rose
Principal
Cloverlanes is huge. They have lanes on both sides of the building. I know that in the past they have rented out to schools. Maybe they could rent out one of the sides for a fundraiser?
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cmic
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Principal
Grant1
Jan 13 2006, 01:56 PM
Cindi
Jan 13 2006, 11:48 AM
I don't believe any fund raiser would be tax deductible since Citizens for Livonia's Future is not set up as a non profit organization.  The website indicates that all donations are not tax deductible.  Does not mean that a fund raiser cannot be put together...........people just have to realize that they cannot deduct any donation from their tax returns.  Correct me if I am wrong on this one.........

You are correct, but my question was one of this type of scenario.

Bake sale - are we required to report profits?

raffle - do donated prizes/awards have to be reported in some way?

You need to get a gambling license I think. I'd check it out.
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Administrator
Administrator
Merri-bowl's sign says "have your fundraiser here". I've never seen that before. Maybe they here us talking. I will go check it out today.
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