fbpx

< Back to Thought Leadership

Is Charitable Gaming For You?

By Mike Gricius, CPA  – Manager

Should your organization offer gaming as a means of raising additional funds? Several charitable organizations are actively using raffles and other gaming activities as a fundraising mechanism to raise funding to support the organization’s mission and purpose.

The decision to be involved in such activities needs careful thought and planning by each organization. The most important factor is the legality that must be followed. It would be in the best interest of the organization to contact the state’s gaming commission to understand and to obtain information related to gaming activities.

There are many allowable gaming events that charitable organizations can pursue for fundraising. Some of these events include bingo, door prizes, raffles, festivals, and pull tabs.

In general, a charitable organization needs to be a qualified organization as defined by the Internal Revenue Service to be an active participant.

For each gaming activity allowed by the state’s gaming commission, a license needs to be obtained which is done by filing an application and payment of a fee. Once an organization chooses to hold a gaming activity, there are several regulations and rules that must be followed. For example, the use and determination of net proceeds, financial records, and event limitations.

For a complete definition of qualified organization and lists of rules and regulations, see Indiana Code: Charity Gaming Statute IC 4-32.2 which can be found at www.in.gov. Rules and regulations may vary between states, so please check with the gaming board of each state.

Gaming events can create an opportunity to attract more funding for a charitable organization, but as pointed out above, such activities must be done legally. Failure to abide by the rules and regulations will result in disciplinary action that leads to monetary penalties.

Therefore, it would be good practice to consult with legal counsel and to contact the state’s gaming commission to understand and to obtain information prior to being a participant in such events.

How to Manage Clinical Validation Denials

In the past several years, hospitals have continued to feel the impact on revenue from Clinical Validation Denials (CVD). The need for a robust CDI team to capture support for clinical indicators while the patient is still in house is more imperative than ever. The other overwhelming piece for revenue cycle teams to manage is […]

Learn More

Margin Improvement: Optimizing Financial Performance

Ensuring the long-term financial viability of a health system requires constant attention to the operating statement. This involves assessing the current state of your healthcare organization and critically comparing the current condition to industry and/or internal benchmark standards. Ultimately, this assessment assists management implement an ongoing margin improvement process to increase the likelihood of achieving […]

Learn More

Blue Named One of Kentucky’s Best Places to Work

CARMEL, Ind. (May 3, 2023) – Blue & Co., LLC is honored to be named among the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce, the Kentucky Society for Human Resource Management (KYSHRM) and ClearPath Mutual Insurance Company. This is the 12th year Blue & Co. has made the list as […]

Learn More