Foundation Home Raffle

RAFFLE TERMS & CONDITIONS

• 7,000 maximum tickets to be sold AT $100 EACH.
• If fewer than 5,000 tickets are sold, a cash payment of 50% of total ticket sales (less expenses) will be awarded to the winner in lieu of the house drawing. All other prizes will be awarded.
• Drawing to be held Saturday, February 25TH, 2023 at 12:00pm at Perry Technical Institute, 2011 W. Washington Ave., Yakima, WA 98903.
  Tax withholdings of 24% are the sole responsibility of prize winner and due prior to prize being transferred. Winner is also responsible for any taxes, license, registration, insurance or fees associated with prize won.
• Winner must claim prize by April 30, 2023.
• Per IRS regulations, as a game of chance, tickets are not tax deductible.
• Ticket stub must match the identification of the ticket holder.
• Tickets are non-refundable.
• Participants must be 18 years or older.
• Need not be present to win.
• Purchaser(s) must be individually listed on each ticket, no company/business names allowed.
• Employees of the Perry Technical Foundation and their immediate households are not eligible to enter.
• Any/all purchasers or holders of this Win A Home raffle ticket agrees to hold harmless Perry Technical Foundation, Perry Technical Institute, along with any/all affiliates, faculty, staff and students acting in good faith as part of this voluntary gaming purchase.
• All Win A Home raffle ticket holders agree to share their likeness for any/all Perry Technical Foundation/Perry Technical Institute official promotional purposes including post-raffle winner announcements.
• Names and contact information of ticket purchasers will be added to an internal database to be used exclusively for the purpose of marketing for the Win A Home raffle.
  
  For more info: 509-453-0374 • perrytech.edu/raffle
  tressa.shockley@perrytech.edu
  PERRY TECHNICAL FOUNDATION • PERMIT LICENSE #00-15743
  
  
• Winner(s) must claim their prize by April 30, 2023.  To claim the prize, the winner must pay Perry Technical Foundation 24% tax on the prize value less the original wager of 1 ticket (or $100).  Perry Technical Foundation will submit the tax payment to the IRS on behalf of the winner.
  
  The following tax payments will be required:
  -House located at 7204 Vista Ridge Avenue, final value to be determined. (The estimated tax on a $400,000 home is approximately $96,000.)  If lender financing is a requisite to pay the tax, the appraisal is to be paid by the winner.  In good faith, Perry Technical Foundation will allow the winner additional time for financing and transfer of title, with evidence that the transaction is in process.
  -Patio Set with Dual BBQ’s valued at $10,115 would have a tax due of $2,404.
  -Diamond Ring valued at $10,000 would have a tax due of $2,376.
  -Mower valued below the IRS threshold for tax purposes, no tax to be paid to Perry Technical Foundation.
  
  
• If winner declines to pay taxes, prize will be deemed unclaimed and will remain the property of Perry Technical Foundation.  Perry Technical Foundation reserves the right to sell unclaimed prize(s). Profits of sale will be used for scholarship funding.