Licenses for raffles shall be issued only to religious, charitable, labor, fraternal, educational or veterans’ organizations which operate without profit to their members and which have been in existence continuously for a period of five years immediately before making application for a license, and have had during that entire five-year period a bona fide membership engaged in carrying out their objectives. A license issued by the village shall authorize the sale of raffle chances only within the borders of the village. The corporate authorities shall act on a license application within 30 days from the date of application.