Licenses for raffles shall be issued only to bona fide religious, charitable, labor, fraternal, educational or veterans' organizations that operate without profit to their members and which have been in existence continuously for a period of five (5) years immediately before making application for a license and have had during that entire five (5) year period bona fide membership engaged in carrying out their objectives, or to a nonprofit fundraising organization that the licensing authority determines is organized for the sole purpose of providing financial assistance to an identified individual or group of individuals suffering extreme hardship as the result of an illness, disability, accident or disaster. A license issued by the village shall authorize the sale of raffle chances only within the borders of the village. (Ord. 2411, 6-17-2002; amd. Ord. 2506, 8-16-2004)