Skip to code content (skip section selection)
Each organization licensed to conduct raffles and chances pursuant to this chapter shall keep records, provide reports and be subject to the following requirements:
A. Each licensee shall keep records of gross receipts, expenses and net proceeds for each raffle at which winning chances are determined. All deductions from gross receipts for each single raffle shall be documented with receipts or other records indicting the amount, a description of purchased items or service or other reason for the deduction, and the recipient. The distribution of net proceeds shall be itemized as to payee, purpose, amount and date of payment.
B. Gross receipts from the operation of raffle shall be segregated from other revenues of the organization, including bingo gross receipts, if bingo games are conducted by the same nonprofit organization pursuant to license therefor issued by the Illinois department of revenue, and its raffles. The person who accounts for gross receipts, expenses and net proceeds from the operation of raffles shall not be that same person who accounts for other revenues of the organization.
C. Each organization licensed to conduct raffles shall report promptly after the conclusion of each raffle to its membership or, if the organization does not have members, to its governing board. Each organization licensed to conduct raffles shall report promptly to the Village its gross receipts, expenses and net proceeds from the raffle, and the distribution of net proceeds itemized as required in this Section.
D. Records required by this chapter shall be preserved for three (3) years, and organizations shall make available their records relating to operation of raffles for public inspection at reasonable times and places. (1992 Code; amd. Ord. 20-04-14)