AGLC outlines financial reporting requirements for Alberta raffles worth $20,000 or less
By SectorWire desk ·
Summary
AGLC guidance directs charities running raffles with ticket values totalling $20,000 or less to use a non-gaming account for sales receipts and costs. Charities conducting other gaming must transfer net proceeds to their existing gaming account after the final draw. Organisations conducting only these raffles retain proceeds in the non-gaming account for charitable spending.
Why it matters
Charities running raffles totalling $20,000 or less must handle net proceeds differently depending on their other gaming activities.