Tuesday, March 04, 2008

Go slow with bingo

Certain tax-exempt organizations are authorized by state law and local ordinance to raise money from bingo, provided that the following criteria are met: 1) the proceeds must be used only for charitable purposes; 2) the games must be conducted by volunteer members of the organization; 3) no salaries can be paid with bingo proceeds; 4) there can be no commingling of bingo money with any other funds (the charity must set up a special bank account just for bingo proceeds – separate from its general operating fund); 5) the organization conducting the bingo game must hold a valid license/permit issued by the city or county in which the bingo is played; and 6) specific rules regarding the location of bingo games must be followed.