Win Your Dream Home Raffle 2005 - Palos Verdes, California

THE FINE PRINT - RULES
The Grand Prize Drawing for the Palos Verdes Art Center (PVAC) Win Your Dream Home Raffle will be held on Saturday, May 14, 2005, beginning at 11:00 a.m., at The Avenue of the Peninsula, 550 Deep Valley Dr., Rolling Hills Estates, CA 90274. Tickets will not be sold after 5:00 p.m. Friday, May 13, 2005. Tickets may sell out before that time. Harrington Group, an independent accounting firm, will supervise the drawing. The drawing for prizes is open to the public, but the winner does not need to be present to win.

Only 20,000 tickets will be sold. The chances of winning are based on that number. If fewer tickets are sold, your chances of winning the Grand and other prizes improve. The IRS has taken the position that amounts paid for chances in raffles, lotteries or similar drawings for valuable prizes are not gifts, and consequently do not qualify as deductible charitable contributions.

If the House is chosen as the prize, the Grand Prize winner assumes all fees, local, state and federal taxes, financing costs (including, but not limited to, closing costs and title insurance) which must be paid when the House is transferred to the winner. Likewise, there are federal taxes and there may be state and/or local tax consequences if the winner selects the alternate cash prize. (See Grand Prize Rules below.) These consequences may apply to other prizes as well. PVAC takes no responsibility for any tax liabilities. Consult your tax advisor. This offer is void where prohibited by law and all federal, state and local laws and regulations apply.

By entering this raffle, entrants accept and agree (1) to be bound by all the rules, limitations and restrictions set forth here and (2) that their names and/or likenesses may be disclosed to and used by the news media and may otherwise by used by the PVAC for publicity purposes and in lists of prize winners to be published in area newspapers. Other rules and regulations may apply. Please contact PVAC if you have questions. PVAC’s interpretation and application of the rules and regulations shall be final.

By entering this raffle, each participant releases PVAC, its directors, officers, employees and agents from any and all liability for injuries, losses or damages of any kind caused by any prize or resulting from acceptance, possession, use or misuse of any prize, and each winner agrees to indemnify and hold PVAC harmless from any and all losses, damages, rights, claims and actions of any kind rising in connection with or as a result of the winner’s acceptance or use of any prize.

In addition to the list of winners published in area newspapers, lists of winners may be obtained at PVAC or by sending a written request plus a self-addressed, stamped envelope to: Palos Verdes Art Center, 5504 W. Crestridge Rd., Rancho Palos Verdes, CA 90275.
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GRAND PRIZE RULES
A maximum of 20,000 tickets will be sold. A minimum of 16,500 tickets must be sold for the Grand Prize winner to have a choice of the House or the $1,000,000 cash alternate prize. If fewer than 16,500 tickets are sold by 5:00 p.m., Friday, May 13, 2005, the raffle will be held as scheduled, and all prizes will be awarded as advertised with the exception that the Grand Prize winner will receive a 50% share of the net raffle proceeds. Net proceeds are defined as the balance of funds left after paying all other prizes, all raffle expenses and all expenses for the House. Net proceeds will be divided evenly between PVAC and the Grand Prize winner, less appropriate and required federal taxes.

The House (furnishings not included), if available and selected, will be transferred to the Grand Prize winner as is. PVAC does not provide any guarantee or warranty, expressed or implied, in connection with the House. PVAC accepts no liability or responsibility regarding the construction or condition of the House. At the time of closing, all federal income taxes based on the value of the House will be due from the Grand Prize winner. If the Grand Prize winner selects the cash alternate award instead of the House, appropriate and required federal taxes will be withheld by PVAC in accordance with federal law, and PVAC will remit the balance of the cash prize to the Grand Prize winner.

PVAC makes no guarantee that the Grand Prize winner will be able to sell the House for its appraised value of $1,500,000, nor is there any guarantee that the Internal Revenue Service (IRS) or the California Franchise Tax Board will accept that value of the house for the purpose of determining any income tax that may be due from the Grand Prize winner. The Grand Prize winner must make an election in writing between the House and the cash no later than 3:00 p.m. Friday, May 27, 2005. If the Grand Prize winner fails to make election by this deadline, he or she will be deemed to have elected the cash option.
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TICKETS
Tickets are $150.00 each. More than one name may be entered on the ticket to indicate that any prize won is to be shared. Only the names provided on the ticket will be eligible to receive prizes. Unless otherwise designated, winnings will be divided equally among all names on the winning ticket. On prize amounts of $500 or less, PVAC, at its option, may write only one check to the person named first on the ticket. That person will then be responsible for dividing the prize with the other persons listed.

To order tickets, use the order form provided or call (310) 541-2035 or fax (310) 541-0248 or (310) 541-4370 with your Visa or MasterCard number and expiration date. Entries must include payment or credit card information to be eligible. You may buy as many available tickets as you wish. All sales transactions are final. No payments will be refunded.

Early ticket purchases will be included in four drawings. Tickets purchased by February 22, 2005, will be eligible for the Early-Early Bird drawing. All such tickets, including all winning tickets, plus all other tickets purchased by March 29, 2005, will be included in the regular Early Bird drawing. All tickets included in both these drawings, including all winning tickets, plus all other tickets purchased will be included in the Grand Prize drawing. At the Grand Prize drawing, prizes 2 through 200 will be drawn first, in reverse order. These winning tickets will then be returned to the drum, with all other tickets, for the Grand Prize Drawing.

PVAC reserves the right to reject any entry form that is submitted with payment that does not constitute “good funds.” All defective or physically altered entry forms will be immediately disqualified by PVAC. Prior to the Grand Prize drawing, PVAC will make a reasonable effort to notify the individual and/or entity that submits such an entry form or one which has been rejected because the credit card or check did not clear that the entry has been rejected. All orders for tickets for the Early-Early Bird and Early Bird Drawings must be received and/or purchased by the indicated deadlines. Any orders received after these deadlines will be held for the next drawing. PVAC assumes no responsibility for lost, late, misdirected or non-delivered mail.
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ELIGIBILITY
Anyone 18 years of age or older may enter. Employees and members of the Board of Directors of PVAC and Harrington Group, their spouses and children are excluded from participating. An affidavit of eligibility may be required from prize winners.

REGISTRATION WITH THE STATE OF CALIFORNIA
By letter from the Attorney General’s office, the Palos Verdes Art Center has re-registered with the Department of Justice under Raffle Registration Number R-01201 and is authorized to conduct raffles in California pursuant to the provisions of Penal Code section 320.5, for the raffle period which begins September 1, 2004, and ends August 31, 2005.

* Appraised Value

Palos Verdes Art Center | Raffle Home | Dream Home | Raffle Rules | Floor Plan | Entry Form

Palos Verdes Art Center - 5504 W. Crestridge Rd. Rancho Palos Verdes, CA 90275
Telephone: 310.541.2035 - Fax: 310.541.0248 or 310.541.4370 - info@pvartcenter.org

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