Policies and Procedures
Small Lottery and Raffle License Policy
As needed, the Grand Island Public Schools Foundation will apply for a Nebraska State Small Lottery and Raffle License in accordance with the Nebraska Small Lottery and Raffle Regulations (35-400:35-504).
This license will be used from time to time by the Grand Island Public Schools Foundation or one of its umbrella organizations for fundraising purposes.
In accordance with Regulation 35-403, the Grand Island Public Schools Foundation names the Treasurer of the Foundation as “Utilization of Funds Member” with responsibility to adhere to all regulations set forth by Nebraska law.
The Grand Island Public Schools Foundation Board will approve up to one special use permit annually for groups and organizations wishing to conduct raffles that generate more than $5,000.
With regard to the use of the license, the Foundation Board requires the following:
1. Organization must be a member of the Foundation
2. Organization must give Foundation 90 days advance notice
3. Signed compliance statement (I have read the rules and will comply)
4. Raffles requiring a Nebraska Special Permit must be complete within 90 days
5. Payment of Foundation Fees
6. Payment of all state, local, and federal taxes and filing fees
For this service the Foundation will incur additional operational expenses. Therefore, organizations wishing to conduct a raffle/lottery will be required to pay the Foundation’s standard 2.5% fee on all raffle income raised as well as any actual out-of-pocket expense that the Foundation may incur.
The Foundation will open a specific bank account in which to deposit all lottery/raffle funds. This bank account will be owned and accounted for by the Grand Island Public Schools Foundation.
