FCS Urban Ministries/Adopt-A-Grandparent Raffle Official Rules and Disclosures

1. The Grand Prize in this FCS Urban Ministries Adopt-A-Grandparent Raffle is a single family brick home located at 10102 Deep Creek Drive, Union City, Georgia 30291, with a market value of approximately $165,000 (the “Property”).

2. The price per chance, as evidenced by a Raffle ticket (each, a “Ticket”) is $25.00, in cash or by check payable to FCS Urban Ministries, Inc. and mailed to FCS Urban Ministries, Inc., Attn:  AAGP Raffle, P.O. Box 17628, Atlanta, GA 30316.

3.  Tickets will be distributed and Ticket stubs will be collected in the order that purchase price is received. Checks will be deposited upon receipt. Checks that are returned for insufficient funds or other reasons will disqualify the Ticket.

4. All entries must be received by 11:59 p.m. (EDT) on September 24, 2008, to be eligible for the drawing. The Raffle drawing will be held at 12 o’clock noon on September 26, 2008, at FCS Urban Ministries, 750 Glenwood Ave SE Atlanta, GA 30316.

5. 8,000 Tickets are available for purchase.  If fewer than 8,000 Tickets have been sold by September 24, 2008, FCS Urban Ministries, Inc. (“FCS”) reserves the right to cancel the Raffle and return the Ticket price paid by each of the Ticket holders in full, without interest, within sixty (60) days of the Raffle cancellation date. Refunds of Ticket prices will be made in the same manner in which the Ticket purchase price was paid (i.e., by credit card if paid by credit card, or by check mailed via first class by U.S. Postal Service if paid by check). Otherwise, all Ticket purchases are non-refundable.

6. The Grand Prize is subject to, and each prize winner is fully responsible for, any and all federal, state, and local income or excise taxes, fees, assessments, and like charges associated with the Grand Prize. FCS has no responsibility for the payment of any taxes or fees associated with the Grand Prize.  At the time of this printing, Federal law requires that income tax must be collected from winners of raffle prizes having a value of $5,000 or greater upon award and distribution.  For Federal income tax purposes, the Grand Prize winner will be taxed on the fair market value of the Property ($165,000) as ordinary income minus the winner’s basis (equal to the $25 Ticket price).  As of this printing, Internal Revenue Service (“IRS”) Regulations require that the Grand Prize winner pay to FCS 25% of the Grand Prize’s value or $41,250.  FCS makes no warranty that the Grand Prize winner will be able to sell the Property for $165,000 nor is there any warranty that the IRS will accept that value for income tax purposes.  Federal and state withholding laws are subject to change without notice.  The withholding laws in effect at the time the Grand Prize is claimed will be followed.  All Raffle Ticket purchasers should consult their own tax advisors.

7. The Grand Prize winner agrees to furnish FCS with a copy of IRS Form 5754 which FCS will retain for four (4) years in compliance with IRS Notice 1340.

8. FCS agrees to file with the IRS and furnish the Grand Prize winner a copy of IRS form W-2G.

9. The winner of the Grand Prize will be responsible for any and all real property taxes and assessments accruing after the date of closing.

10. THE GRAND PRIZE WINNER WILL ACCEPT THE PROPERTY AS IS, WHERE IS, WITH ALL FAULTS. FCS MAKES NO WARRANTY OR REPRESENTATION, EXPRESSED OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ITS CONDITION, QUALITY OF CONSTRUCTION, MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR COMPLIANCE WITH LAWS OR ORDINANCES.  BY ACCEPTING THE PROPERTY, THE GRAND PRIZE WINNER ACKNOWLEDGES THAT HE OR SHE DID NOT RECEIVE ANY REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESSED OR IMPLIED, IN FACT OR IN LAW, RELATING TO THE PROPERTY.

11. The Grand Prize winner must claim and accept ownership of the Property within 10 days from date of drawing or forfeit the Grand Prize and a new winner will be selected.  The winner of the Grand Prize must close the transfer of the Property within 30 days of the Raffle drawing date.

12. There shall be no substitution for the listed Grand Prize by the winner.

13. The $25 Ticket price is not deductible for income tax purposes as a charitable donation and the price of a losing Raffle Ticket is only deductible to the extent of gains the Ticket purchaser may have from wagering transactions.
 
14. FCS will cause the Property to be conveyed to the Grand Prize winner by limited warranty deed free and clear of all liens and encumbrances, but subject to all easements, restrictions and other matters of record and applicable zoning laws and regulations.
 
15. The Grand Prize winner need not be present to win.

16. The Grand Prize winner will be notified by phone and certified mail return receipt by September 30, 2008.

17. The Raffle is subject to all applicable Federal, state and local laws and regulations, and is void wherever prohibited or restricted by law.

18. Each numbered Raffle Ticket stub will be placed in the Raffle Ticket container.  FCS shall appoint a single individual who will be responsible for maintaining control and security of all of the Raffle Ticket stubs.  Such individual shall, by public certification under oath at the time of the drawing, certify that all Raffle Tickets purchased have their stubs in the container from which the winning Raffle Ticket will be drawn.  The Grand Prize winner will be determined by random drawing.

19. Participants must be 18 or older to enter the Raffle and be eligible to win the Grand Prize.

20. Only one (1) person or entity may be identified as the purchaser of a Ticket. The Property will be transferred to the name on the winning Raffle Ticket stub.  Tickets are not transferable or assignable.

21. Neither the officers, directors or employees of FCS nor the current owner of the Property, his spouse or children are eligible to win.

22. Proceeds of the Raffle are solely for the benefit of FCS, which is a 501(c)(3) non-profit organization registered with the Secretary of State of Georgia.

23. The Raffle is subject to the terms and conditions of the license to operate raffles issued by the Sheriff of Fulton County, pursuant to O.C.G.A. § 16-12-22.1(c).  A copy of FCS’ license to operate raffles is available without cost by writing FCS Urban Ministries, Inc., P.O. Box 17628, Atlanta, GA 30316.

24. By purchasing a Ticket, each Ticket purchaser has released and discharged FCS and its officers, directors, employees, volunteers, vendors, agents, representatives, sponsors, service agencies and independent contractors, and each of their respective officers, directors and employees, from any and all liability with respect to participation in the Raffle.  Any liability of FCS is limited to a refund of the Ticket price paid, and in the case of any dispute, FCS’ decision shall be final. FCS reserves the right to modify or amend these Official Rules without notice at any time.

 

Tickets $25 each. Only 8000 will be sold.