Auctioning a car for Charity?

[chrisd]

Is anyone familiar with auctioning a car off for charity? I'm thinking of the type where tickets are sold in advance instead of just a general auction so it reaches more people.
Any help is greatly appreciated

 

[Budnicks]

sounds more like a raffle, but sounds like a nobel thing to do, for a good cause, never done it myself, bought allot of charity raffle tickets thou... could be a money maker, with the right car & proper advertisements/promotions, local raidio & tv spots, public access etc., usually aren't too expensive usually, get out to a large audience, maybe you could get them to donate the time even... did it with charity Golf tournaments

 

[chrisd]

Yes, I meant a raffle. Advertising would be the easy part. What I'm concerned about is any laws that govern the sale of tickets and the transfer of money. Has anyone dealt with one before or know someone who has?

 

[Budnicks]

I think you need to file for a 501c &/or possibly Incorporate/or file for a S corporation, with the County/State your based in or something along those lines, to protect yourself, liability insurance too & be a legal charity business with a license, so you don't have any income taxes with the state or federal tax implications... it's allot more than just selling a bunch of raffle tickets if it's done legally... I would highly suggest you contact a lawyer for a consultation, you will be subject to liability issues, I had a lawyer on retainer for my business, so it was all handled by him, that's all I remember thou... Good luck, if your doing for or thru a Church you maybe able to do it under their 501c charity or Churches religious tax exemption status...

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I think the break starts @ $1,000 before there's any tax implications

 

[chrisd]

Thanks, I've got someone who can check with a lawyer for the legal part. I was hoping to find someone who has done a raffle and could walk me through the steps. I've got the basic idea, but I don't want to miss anything.