How does the Education Raffle work?
Anyone 18 years old or older, filing a PFD online application for themselves, will be provided an option to choose to donate money from his or her PFD to public education. Donations are made in $100 increments. For every $100, you buy 1 entry into the Education Raffle. For $200, you get 2 entries; for $500, you get 5 entries; up to the point where the final $100 increment is available. Example: A dividend of $1,722 will allow you to purchase 17 entries. The remaining $22 will be paid to you. Each entry goes into a drawing to be drawn by the Revenue Commissioner, or designee.
What are the raffle draw procedures?
View the Education Raffle Draw Procedures and the Education Raffle Filed Regulations.
When did the 2020 Education Raffle drawing take place?
The drawing for the 2020 Education Raffle took place on Wednesday, January 27, 2021 at 2:00 PM.
See the Department of Revenue Online Public Notice for details and watch the
Video of the 2020 Education Raffle Drawing.
See the 2021 Auditor Certification that certifies the winners for the 2020 Education Raffle listed below:
1st prize: Abraham Horpestad - $34,499.65
2nd prize: Rory Stark - $17,249.82
3rd prize: Mark Davis - $8,624.91
4th prize: Teresa Paukan - $4,312.46
You can also read the Governor's Press Release, and detailed Education Raffle Breakdown.
How do I know my donation will go to education?
Legislation that enacted the Education Raffle states that education will not receive less funds as a result of this additional income. It will simply add to the funding that they already will be receiving through legislative appropriations. Your funds will benefit a general education fund not broken out by district.
Can I buy extra Education Raffle entries with money not from my PFD?
No. Only money from your PFD may be used to buy Education Raffle entries.
Can I withdraw my donation if I change my mind after I submit my application?
No. Once your initial application has been submitted, you will not be able to withdraw your donation.
How much state money does it take to run the raffle program?
$35,000 to get it started. After start-up, the system is designed to be self-sustaining.
How much of my money goes to public education?
50% of all donations go directly to public education that year.
25% of all donations go into a new education endowment fund.
How much money goes into the raffle fund?
25% of all donations are placed in the raffle fund.
How are the prizes paid out?
Four prizes are paid out annually. First prize is 8% of the raffle fund. Second prize is 4%; third prize is 2%; fourth prize is 1%. The remaining 85% of the fund will grow the fund for future year prize money.
What is an example of a winning entry?
If the Education Raffle has, in its first year of existence, 5,100 contributions, it will end up with a total of $510,000 to be disbursed. This means that $255,000 will go directly to public education that year, $127,500 will go into a fund for future education support, and $127,500 will go into the “Education Raffle” as prize money.
First prize will receive $10,200
Second prize will receive $5,100
Third prize will receive $2,550
Fourth prize will receive $1,275
The remaining amount of $108,375 will stay in the raffle fund for the following year, increasing the prize money each year.
How will I claim these on my taxes?
The PFD Division recommends that you consult your tax professional for any questions related to the payment of taxes.