fundraising events

Started by JeanI • 4 replies • 2627 views

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JeanI (Louisiana)
Posts: 112

Posted:

In order to avoid raising dues or imposing assessments, our HOA is engaging in some fundraising efforts such as bingo parties, raffles, sports pools, etc. Are there any pitfalls we should be aware of in engaging in these activities?

GlenL (Ohio)
Posts: 5,491

Posted:

Yes, its called gambling and unless you have the proper licenses you can be arrested, go to jail, be fined etc.

Studies show that 5 out of 4 people have problems with fractions

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

Quote:

Posted By GlenL on 03/07/2011 2:00 PM
Yes, its called gambling and unless you have the proper licenses you can be arrested, go to jail, be fined etc.

Ummm... every state is different. Some states don't have licenses for the activities above.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Non Profits need a special tax code to do fundraising.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Jean,

Typically any income received outside of assessments are taxable.

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