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Not-for Profit Charity

Home Builder with ODaniel Homes

It seems I'm heading into little-charted or outright uncharted territory with this:  I'm in the process of completing a subdivision on a non-profit basis.  Now, I don't mean to say I'm selling houses at cost, but I am going to donate 100% of the net proceeds in the sale of a group of houses to a non-profit company supporting foster care children here in Baldwin County, Alabama.  This part I can handle.  The next thing........

I'm thinking also of doing some sort of fund raiser, although I'm unclear as how it should be structured, where in each person who donates $xx number of dollars recieves a ticket.  When a number of tickets have sold, hold a drawing, the winner gets a house, the remaining proceeds go to the charity.  Hopefully the winner will donate the house to the charity as well, but that is certainly not a requirement.  Does anyone know if this sort of fund raiser is legal or what legal implications may arise from such a concept?

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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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Dec 19, 2016 08:47 PM