Proceeds from the raffle support Fayetteville Area Operation Inasmuch programs!
For more information, call (910) 433-2161, or email email@example.com
Official 2023 Raffle Rules:
Prize Provider: Valley Auto World
Sponsoring Organization: Fayetteville Area Operation Inasmuch
Location: Drawing at Snyder Memorial Baptist Church
Opens for Entries: OCT. 1, 2022, 12:01am EDT
This raffle is a fundraising event, and all net proceeds benefit Fayetteville Area Operation Inasmuch (FAOIAM). FAOIAM is a 501(c)(3) nonprofit organization. EIN# 20-5444512
The drawing will take place on Thursday, March 30, 2023 at 12:30pm EST at Snyder Memorial Baptist Church. All orders must be received by 11:59pm EST on Wednesday, March 29, 2023.
The cost to purchase a single entry (“Ticket”) for the Raffle is $125 (U.S. Funds only) and is not tax deductible.
- By entering this raffle, entrants accept and agree to be bound by all the rules, limitations and restrictions set forth here and that their names and/or likenesses may be disclosed to and used by the news media and may otherwise be used by FAOIAM for publicity purposes.
- The winner may choose a new prize vehicle from Valley Auto World Fayetteville, NC with an MSRP up to $50,000.
- Vehicle choice will be subject to the current available inventory of the dealer. FAOIAM reserves the right to substitute a new Model of equal value.
- The winner is responsible for all taxes, delivery costs, dealer fees, and any options he or she may choose above the vehicle’s manufacturer’s suggested retail price (MSRP) greater than $50,000.
- The gross winnings of the raffle will be reported to the federal and state tax authorities at the MSRP and the winner is responsible for income tax withholding prior to taking title to the prize.
- Individuals may purchase as many tickets as they wish; however, only 1,500 tickets will be sold.
- Participants must be 18 years old or older.
- FAOIAM employees and clients 18 or older are eligible to participate.
- Winnings are not redeemable for cash.
- If a minimum of 600 tickets is not sold, all ticket holders will receive a full refund and the raffle will not occur.
- FAOIAM does not make or provide any representation, guarantee, or warranty, expressed or implied, in connection with the car and accepts no liability or responsibility regarding the construction or condition of the car.
Once the winner has selected a prize vehicle, the Dealer will notify FAOIAM of the award vehicle’s MSRP. FAOIAM will calculate the required federal income taxes due. The raffle winner is responsible for remitting the funds to FAOIAM for the federal income tax. Fayetteville Area Operation Inasmuch is required by law to report the base MSRP of the vehicle the winner chooses as gaming income to federal and state authorities and to withhold and deposit federal income taxes equal to 25% of the MSRP less the wager (raffle ticket). The winner’s payment of the federal taxes to FAOIAM will be deposited with the US Federal Treasury and the winner will receive credit for the taxes remitted. In order for the dealer to release the winner’s vehicle, the winner will need to provide the following to FAOIAM:
- A completed form W-9.
- Payment to FAOIAM of the appropriate amount of federal tax withholding in cash or certified check.
Once both of these are received, FAOIAM will authorize the dealer to release the vehicle. The winner will receive a Form W-2G by January, 31, 2024 to use in preparing their 2023 income tax return.
All entries’ names will be added to a random name generator. Whichever name is selected is the winner. If you would like to see a list of the winner(s), please mail a self-addressed, stamped envelope to the Sponsoring Organization. Residents of ID, VT, and WA may omit return postage.
Release from Liability: