I have no connection with this but thought more F-Chatters should know about it. A private school in Tarpon Springs is putting a Ferrari on the charity block to raise money for expansion. "A school parent at First Christian Academy and Learning Center donated the 2002 Ferrari Modena Spider, which has only 7,500 miles on it, Principal Ramita Buckley said. The school isn't identifying the donor, but Buckley said the idea came up in conversation. "We were at our fall festival talking about the cost of our expansion," she said. The school has about 200 students and just added an eighth grade. Buckley said she's already purchased a ticket. Each ticket costs $100, and anyone 18 or older can buy one. The drawing will be at 7 p.m. Oct. 25. Other prizes include a three-night Clearwater Beach getaway or use of a Porsche Boxter for a weekend plus dinner at restaurant." http://www2.tbo.com/content/2008/sep/26/ferrari-drives-fundraiser-tarpon-springs-school/ For information, go to firstchristianacademy.com/cms
The schools site says as of last week they had only sold 300 tickets. There is no legal disclaimer anywhere, but I can't imagine them letting that car go for $30K!!?? Of course if it was donated the person probably gets a large tax deduction and the school gets whatever money they raise? edit: here's the school's site according to the story.... http://www.firstchristianacademy.com/cms/files/ferrari.html
I heard that the Viper Club has similar raffles for cars. . . . So who’s going to try there luck at this?
Exactly, most of the time there is a "required minimum" number of tickets to be sold before the raffle would take place. Right now @ 300 tickets they raised 30k. They would be better off auctioning off the car for market value and keeping the money.... I would wager that this auction is not going to occur unless they sell at least 1500 (150k) in tickets.
They won't release the donor's name as it is the same as the person who will end up winning the car....
Let's say the car was being repossessed and it was donated to the school for the auction? Then what happens when the "Winner" goes to collect the car??? Just maybe, that's why they won't say who donated the car...
Must be different here in Australia. They raffle cars all the time. Have NEVER seen a Ferrari, but they used to raffle Porsche's and I used to buy tickets in them each year at the time. That was supporting Cancer research. They ALWAYS give the car away, regardless of how many tickets sold. I have recently bought tickets to win a Merc again the other day. I dont really care for these raffles or cars, but they always support a good cause which is why I always buy tickets in them. Tickets average from $5 to $20. We have a local raffle we have every year at Rodeo time. They raffle off a brand new Toyota Landcruiser. Car retails for AU $80K. I buy a ticket each year. Tickets cost $100 each and they have maximum 1500 tickets. They also give away a Toyota sedan for 2nd prize and a $5000 travel voucher for 3rd prize. All money raised in that raffle goes to the Royal Flying Doctor Service (RFDS). Both cars are donated by the Toyota Dealership here. 1st and 2nd prize this year were won by my friends. And it was the 1st time either of them had bought tickets in that raffle. I have been buying tickets now for over 8 years and have not won anything! A family friend runs that raffle for the RFDS and he reckons that they never sell all the tickets. Some years ticket sales have been around below 500, some years ticket sales have been over 1000. It varies each year. This year ticket sales were low apparently because of the interest rates going up etc....people dont have as much money to burn.
i have a shirt from tarpon springs on right now. It says "got ouzo?" from pappas' restaurant. coincidence? I don't think so.
If that happens? Oh I sure HOPE the winner didn't pay for the raffle ticket with 9 different credit cards, or this will be a REALLY long thread!
Tarpon Springs is a pretty wealthy area, and I think it is likely that a parent offered to make the donation. At my kids' school, people routinely donate over $10k, so a single person offering a $150k donation is not a reach. I plan to buy a ticket in a week or so. BT
I emailed the school and provided links to the forums I posted on and told them there were some grumbling about the raffle. Here is the reply... Thank you very much for the links. I know some people are quite hesitant and I have read other negative feedback. But, here's what I have learned about FL law and our current situation... 1. This is legal and "legit". I am working with our school attorney throughout this process. We are a non-profit Christian School that is undergoing a capital campaign to raise money to purchase our building (Generations Christian Church owned the property and we bought it when they decided to sell and build a new building in Trinity). 2. Since we are non-profit, we are not allowed to cap the total ticket sales. Yes, we have only sold approximately 450 tickets and we are NO WHERE NEAR breaking "even" with the value of the car. According to FL law, the owners of the car (yes, it was donated by a school family) can only deduct the LESS of the 2 values (value of car vs. value of ticket sales). THIS IS WHY WE ARE REALLY WORKING HARD TO ADVERTISE AND SELL TICKETS!! I went to the tax collectors office and bought the license plate for the car - it is titled to First Christian Academy. 3. The family that owned the car asked that we do a raffle so we can take the car to various locations and promote our school and that people do work hard and do nice things for others. Not to mention, we are "using" the car to advertise First Christian Academy and hopefully gain some more students in the process! Thank you very much for support this campaign! On Saturday, October 25th at 7:00 pm we will draw the name of the lucky winner. If you bought a ticket, you are invited to come. If you come, please ask for me. I would like to personally thank you for your efforts in this project. We know that this is a HUGE project and we really appreciate your willingness to help spread the word (even if we have to clarify the rules and process for some). Serving Him, Cara Coleman, Assistant Principal
I never doubted that the raffle was legit...I was shocked though that they would run an auction with such little participation. If they don't sell 1250 tickets ($125k) they would have been better selling the car outright. The idea is that ticket sales EXCEED the value....1700 tickets sold ($170k) would result in more money for the school then they'd realize from a sale. Anyone have a stomach for gambling? Track the ticket sales up until the end. Assuming 500 tickets are sold, if you match that number (buy 500 tickets) you have a 50% chance of winning. A $50k bet for a $125k car at good odds.....
There is a post from a F-Chat member that lives 1/2 mile from the school in the Florida Forum that says he has seen the signs for the raffle but not the car. I agree that the odds are pretty good with so few tickets being sold.
Unfortunately you will have to pay the taxes on the value of the car. So your $50K might actually only net you $75K once all the taxes and such are paid off.
The car is real. It has been at the Cars and Coffee at duPont Registry the last couple of months. It also was at the Ferrari Owners Club Florida Region alternative fuels demonstration in Tarpon Springs. The car is beautiful and will only need a major service to be perfect.