An organization that has received a premises permit to conduct lawful gambling must expend seventy five percent (75%) of its net profits from lawful gambling on lawful purposes conducted in the City's trade area. Such expenditures shall be made within the same calendar year that such proceeds are received by the organization conducting the charitable gambling. Any expenditures made during January of any year may, at the option of the charitable organization, be deemed to have been made in a prior calendar year to the extent necessary to meet the requirements of this Section. (1998 Code)