Get Michigan Raffle Financial Statement

The Michigan Raffle Financial Statement is an essential document that organizations must complete following their licensed gaming events. This guide provides comprehensive instructions to help users fill out the form accurately online.

Follow the steps to complete the financial statement online.

1. Click ‘Get Form’ button to access the Michigan Raffle Financial Statement and open it in your chosen editor.
2. Complete the header section with the date of the final drawing, organization ID number, organization name, mailing address, city, ZIP code, and license number. Ensure that this information is accurate to prevent delays.
3. In the Revenue section, enter the total amount for ticket sales on line 1 and the retail value of donated prizes on line 2. Then, calculate the total revenue by adding these two amounts and input the result on line 3.
4. In the Expenses section, fill in the amounts for prizes (cash and purchased) on line 4, prizes donated (same as line 2) on line 5, and any ticket seller incentive prizes on line 6. Sum these amounts on line 7 for total prizes.
5. Input the worker compensation on line 8, license fee on line 9, advertising expenses on line 10, ticket printing costs on line 11, and any other expenses on line 12. Total all expenses on line 13 by summing lines 7 through 12.
6. Calculate the net profit or loss by subtracting total expenses on line 13 from total revenue on line 3 and enter the result on the designated line.
7. Indicate whether charity game tickets were sold at the event by selecting yes or no. If you answer yes, remember that a separate financial statement must be filed for those ticket sales.
8. As the principal officer of the organization, sign and date the statement, certifying that all information provided is true and correct. Include your title in the designated space.
9. Review the completed form for accuracy, and then save your changes. You may choose to download, print, or share the form as needed.

Complete your Michigan Raffle Financial Statement online today to ensure compliance with gaming regulations.