Foundation for Excellence – Walled Lake Schools
Tuition Expedition 50/50 Scholarship Raffle
proudly sponsored by
AccelerateKID and Walled Lake School Employees Federal Credit Union
Chance to win BIG!
Scholarship funds or up to 40% lump sum!
Grand Prize Drawing
on Wednesday April 15th at 6:30pm
Tickets $50.00 each or 3 for $100
(online ticket price includes $2.00 processing fee)
1000 Tickets available until midnight on April 14th
Questions Contact: Michelle Bianco (248) 956-2116
FOUNDATION FOR EXCELLENCE -WALLED LAKE SCHOOLS
1. Purchasers must be 18 years or older, but do not need to be residents of the Walled Lake Consolidated School District.
2. Ticket price is a non-refundable: $50.00 per raffle ticket or three (3) for $100.00. There is no maximum number of tickets that any one person may purchase (although no more than 1,000 tickets in total will be sold).
3. There will be one grand prize winner for “Tuition Expedition 2020.” The winner may choose either the scholarship option [i.e. this is a 50/50 raffle for postsecondary (post-high school) scholarship funds], OR, a cash option (40% of gross proceeds) paid in a lump sum.
4. Scholarship Option:
Winner designates scholarship funds for post K-12 educational purposes equaling 50% of gross ticket sales and paid directly to “eligible educational institution(s)” as defined by the IRS and chosen by the winner. Eligible educational institutions may include technical schools or employment training programs (see IRS Publication 970).
Winner has up to twenty years to initiate the scholarship, but once disbursement has begun, the funds must be used in four (4) consecutive years or less. Winner may assign and split the funds among a maximum of four students simultaneously.
NOTE: If extenuating circumstances occur in which funds being held are no longer needed for scholarship purposes, the Foundation for Excellence Board of Trustees should be advised and consulted.
5. Cash Prize Option (alternative to Scholarship Option):
Winner may choose cash equal to 40% of total ticket proceeds paid in one lump sum less applicable taxes (25% federal income tax withholding / 4.25% MI income tax withholding). See IRS Publication 3079 for more information.
6. Drawing from the pool of numbered tickets to determine the winner will be held on Monday, March 30, 2020 at the Walled Lake Schools’ Reflections Celebration at Clifford H. Smart Middle School, 8500 Commerce Rd., Commerce Twp., MI 48382 at 7:30 p.m. (In case of inclement weather/extenuating circumstances, another date/time/location for drawing will be announced within 48 hours at www.wlcsd.org ).
7. The winner need not be present at the drawing to win. A diligent effort to locate the winner will be made, but if she/he cannot be located within 60 days, the prize will be distributed in accordance with State of Michigan Rule 515.
8. Exempt from play: Executive Director of the Foundation for Excellence and family members of same household of above-named (i.e. immediate family).
Tuition Expedition is a licensed raffle conducted by the Foundation for Excellence – Walled Lake Schools; a 501(c)3 nonprofit
organization which promotes education and strengthens opportunities for learning. Michigan Raffle License # R55190
Thank you for your support!
Foundation for Excellence-Walled Lake Schools
850 Ladd Road, Bldg. D, Walled Lake, MI 48390 | Phone: 248-956-2116 | www.wlcsd.org/foundation