RAFFLE FINANCIAL STATEMENTCharitable Gaming Division 101 E. Hillsdale, Box 30023 Lansing, Michigan 48909 www.michigan.gov/cgThis statement must be led by the 10th day of the month following the Neil.
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How to fill out the MI Lottery BSL-CG-1619 online
Filling out the MI Lottery BSL-CG-1619 form is a crucial step for organizations that conduct licensed gaming events. This guide provides step-by-step instructions to help you complete the form accurately and efficiently.
Follow the steps to complete the form online.
- Press the 'Get Form' button to access the form and open it in the editing interface.
- Enter the date of the final drawing in the designated field. Ensure the date is accurate and formatted correctly.
- Provide your organization ID number. This number is essential for identifying your organization within the gaming regulations.
- Fill in the organization name and mailing address, ensuring all information is clear and complete.
- Input the city and ZIP code associated with your mailing address.
- Include the license number in the appropriate field to confirm your organization's licensing for the gaming event.
- Report the revenue from ticket sales by entering the total amount in the space provided for line 1.
- If applicable, list the retail value of any donated prizes on line 2.
- Calculate and write the total revenue from lines 1 and 2 on the designated line.
- List all expenses related to the event, including cash and purchased prizes in line 4.
- Repeat this for any donated prizes (line 5) and ticket seller incentive prizes (line 6), inputting the appropriate values.
- Add up the total expenses from lines 4, 5, and 6 and place the result on the total expenses line.
- Enter any additional expenses, like worker compensation, license fees, and advertising, in the specified fields.
- After inputting all expenses, compute the total of all expenses from lines 7 to 12 and place it in the total expenses section.
- Calculate the net profit or loss by subtracting the total expenses from the total revenue and enter the figure in the appropriate space.
- Indicate whether charity game tickets were sold at the event by selecting 'Yes' or 'No' and completing the necessary follow-up if applicable.
- As the principal officer, sign the form, providing your title and the date of completion.
- Save your changes, download the completed form, or print it for your records. Ensure a copy is retained for your organization.
Complete your MI Lottery BSL-CG-1619 online today to stay compliant and manage your charitable gaming effectively.
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How do you run a 50 50 raffle?
Participants purchase any amount of tickets they wish for a chance to win half of the total proceeds. The more tickets they buy, the greater their chances of winning. For example, if tickets cost $5 and 1,000 tickets are sold, the sales amount to $5,000. The winner of the raffle would receive a cash prize of $2,500.
How much is a raffle license in the state of Michigan?
How much is a Michigan raffle license? Apply for a Raffle For drawing dates awarding no more than $500 in prizes, the cost is $15 for up to three drawing dates and $5 for every additional date. To be able to award an unlimited amount in prizes, the license will cost $50 per drawing date.
How do you enter the Michigan Lottery second chance drawing?
To play Second Chance games, you first purchase an eligible in-store Instant Game. After purchasing an eligible ticket, if that ticket was not a winner, then you can scan the ticket to earn free online games for a chance to win cash prizes.
Do you need a license for a 50/50 raffle in Michigan?
Consideration, chance and prize together equal a gambling event that is likely going to require a license. Even a 50/50 requires a license. There are three raffle license types, small, large, and combination (large and small on one license).
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