434 - Creating Legal and Sustainable Bourbon Charity Raffles with Give270
Bourbon and charity go hand-in-hand. There has been millions of dollars raised thanks to donations and the willingness of others to purchase for a good cause. However, doing it legally is not an easy task. I invited Eric Clements and Kenny Rambo of Give 270 on the show to talk about being legit. They started Give270 by raffling rare bourbons in Elizabethtown, Kentucky to raise money for local charities. Their mission is to make participation affordable and fun through bourbon raffles. This model has proven successful, but required getting licensed for charitable gaming. The founders discuss how they transitioned from a 501C3 nonprofit to operating legally, as well as how they source rare bourbons, select beneficiary charities, do real paper raffles, and handle taxes. While rewarding, they note challenges in navigating regulations and finding inventory amidst secondary market demand.
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