Sanbient wrote:Carey934 wrote:If the tickets were $10 a piece, the number of raffle tickets being sold would make more sense...
Really? You think we should only make $7,500 dollars from this? When the car cost around $15,000? Wow...
Michael
Edit: Because you probably need it..
http://www.steamboatmuseum.org/08smartcarraf/ double amount sold/half price
http://www.slocasa.org/main.asp?id=22 same price/1,000 sold
I'm sure you can do your own google search by now. Or maybe the problem is that your math skills just suck. Either way...we're obviously not out of line putting those limits on.
My example was an extreme opposite to make my point (ie, $7,500 vs. $75,000) I wasn't aware I needed to explain it...clearly I do.
This cars value is around $15,000, so in a typical raffle, the car is donated and the raffle's generally sell enough tickets to cover the value of the prizes x 2 or sometimes x 3, or in this case, somewhere between $30k-$50k.
If this is the only prize awarded, I'd say as far as raffles go, the odds on this one aren't very good for the risk involved.
Now, assuming this is for a charity that you wish to contribute to and/or need to use the deduction for tax purposes, the reasons for participating make more sense then trying to 'win a car.'
In your first example, 1300 is not 750 doubled (as you erronously stated while suggesting my math skills 'suck' - interesting choice of words). They would collect a maximum of $51,000. A $40 raffle ticket or 3 for $100 is not as great a risk. The odds of winning are better (for the same money spent) and the cost to entry is less.
If I were you, I would have only submitted your second example, they put a maximum of 1,000 tickets, or $100,000. Worse odds then your raffle with the same cost to enter. However, they are putting the funds to use for taking care of abused and neglected children.
You do know that I am a nationally syndicated radio show co-host, right? I still make appearances on public radio when I am invited to be interviewed. And this raffle is for promoting public radio, is it not?
Also, diplomacy can go a long way when expressing an opinion. There's never any need to make it personal. I didn't.
https://secure.fpraz.org/product_info?c_product_id=2
