Entering Items for Raffle Prizes
For creating the item you will use to generate a receipt for the prize donor and to award to the winner.
Note: This article focuses on elements unique to Raffle Prize items. For info on how each field/component on the Item detail form is used, see Entering an Item for Silent Bidding.
To enter an item for a raffle prize:
Go to Catalog > Add an Item
1. If the prize was donated, select the donor record. If the prize was purchased by your organization, create and use a Friends of. . . donor record.
2. Include Prize in the item name to clarify to your team that the item is not "for sale" and to appear on winner's receipt for tax purposes..
3. If you have multiple raffle prize items, you may want to create a Raffle Prize category for easier tracking.
4. Use Type = Silent to produce a description sheet, and to allow sale to winner for $0 which will provide the appropriate price fields/documentation on the winner's receipt for tax purposes. See note below for Cash prizes.
5. Be sure to provide an accurate FMV for the winner's tax reporting. See note below for Cash prizes.
6. Uncheck the Display in Catalog box. Since the item(s) set up to sell tickets can actually be purchased, it is generally easier to use the ticket item(s) to promote the raffle.
Cash Prizes: If the raffle has a cash (or credit) prize, make the FMV the cost of a single raffle ticket. Calculate the prize amount and sell the prize item to the winner for the negative amount to act as a credit to their order. To enter a negative amount in the sell item for ______ price field, enter a minus sign prior to the amount. Note that only type = silent items can be sold for negative amounts.