Cooperative or Tiered Raffle System, Especially Suitable for Educational Scholarship Purposes

Abstract

Cooperative or tiered raffle system. An upper tier entity, for example a non-profit organization legally entitled to conduct raffles in the relevant jurisdiction, cooperates with a lower tier entity, for example a school, to conduct a raffle. During at least part of the period of sales of “tickets,” or raffle chances, proceeds from sale of raffle chances are shared between the upper and lower tier entities. Sales of raffle chances, and payment for same, are preferably handled via electronic means, with minimal paper tickets being required. The raffle prize, awarded to the raffle winner or a designee thereof, is preferably a fund to be used for qualified educational costs, which may be held by a trustee for the benefit of the raffle winner or the designee and paid out as required for qualified educational purposes.

1 . A method for conducting a tiered raffle, comprising the steps of:
 a) providing an upper tier entity, said upper tier entity being one legally entitled to conduct raffles in the relevant jurisdiction;   b) providing a lower tier entity;   c) conducting sales of raffle chances for a raffle prize;   d) sharing of proceeds from said sales of raffle chances between said upper tier entity and said lower tier entity; and   e) conducting a random drawing among purchasers of said raffle chances, and selecting a raffle prize winner via said random drawing.   
   
   
       2 . The raffle of  claim 1 , comprising the further step of:
 f) transferring said raffle prize to a trustee, for disbursement at the direction of said raffle winner.   
   
   
       3 . The method of  claim 2 , wherein:
 said sales of raffle chances occur during a first and a second time period;   during said first time period, and said upper tier entity and said lower tier entity share proceeds from sales of raffle chances; and   during said second time period, all proceeds from sale of raffle chances are retained by said upper tier entity.   
   
   
       4 . The method of  claim 3 , wherein said raffle prize comprises a fund for payment of educational costs. 
   
   
       5 . The method of  claim 4 , wherein said sales of raffle chances and payment for said raffle chances are performed by electronic means. 
   
   
       6 . The method of  claim 1 , wherein said lower tier entity is one legally entitled to conduct raffles in the relevant jurisdiction. 
   
   
       7 . The method of  claim 1 , wherein said upper tier entity comprises a non-profit organization. 
   
   
       8 . The method of  claim 7 , wherein said lower tier entity comprises an educational institution. 
   
   
       9 . The method of  claim 1 , wherein steps (e) and (d) are carried out via electronic means. 
   
   
       10 . A method for conducting a tiered raffle for a prize comprising a fund for educational costs, comprising the steps of:
 a) providing an upper tier entity, said upper tier entity being a non-profit organization legally entitled to conduct raffles in the relevant jurisdiction;   b) providing a lower tier entity;   c) conducting sales of raffle chances for a raffle prize, said raffle prize comprising a fund for educational purposes, during a first and a second time period, wherein during said first time period, said upper tier entity and said lower tier entity share proceeds from sales of raffle chances; and wherein during said second time period, all proceeds from sale of raffle chances are retained by said upper tier entity;   d) conducting a random drawing among purchasers of said raffle chances, and selecting a raffle winner via said random drawing; and   e) transferring said raffle prize to a trustee, for disbursement to an educational institution at the direction of said raffle winner.   
   
   
       11 . The raffle of  claim 10 , wherein said lower tier entity comprises an entity legally entitled to conduct raffles in the relevant jurisdiction. 
   
   
       12 . The raffle of  claim 11 , wherein said lower tier entity is a school.