With respect to organizations exempt from payment of bank or corporation taxes by Cal. Revenue and Taxation Code § 23701d, all profits derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. The profits shall be used only for charitable purposes. With respect to other organizations authorized to conduct bingo games pursuant to this chapter, all proceeds derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. The proceeds shall be used only for charitable purposes, except as follows:
(A) The proceeds may be used for prizes; and
(B) A portion of the proceeds, not to exceed 10% of the proceeds after the deduction for prizes, or $500 per month, whichever is less, may be used for rental of property, overhead and administrative expenses.
(1995 Code, § 6.36.200)