434 - Creating Legal and Sustainable Bourbon Charity Raffles with Give270

Bourbon Pursuit

Hobbies, Food, Arts, Leisure

4.9 • 866 Ratings

🗓️ 2 November 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

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. Show Notes: Above the Char with Fred Minnick (@fredminnick) talks about single barrels not being regulated. Why did you all want to start doing alcohol reform in Elizabethtown, KY? What was the mission behind Give270? Do you feel the success of raffles are because of the secondary market? How did you move from a 501C3 to getting a charitable gaming license? Does the pool get bigger by having a raffle versus an auction? Do you really cut up names on a piece of paper and put them in a tumbler? Has there ever been a situation where you are underwater on a raffle? How do you discover and choose the charities you work with? What are the biggest challenges of trying to do all this the legal way? Are people letting you buy from their private collections? What sort of taxes are involved? Is there anything about the current system you would change? @give270 Support this podcast on Patreon

Transcript

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0:00.0	We've had people show up in 15 pastor vans and bring all their diaphragm.
0:04.1	They come stumbling in the door.
0:05.6	This is our third stop.
0:07.8	You know, distilleries and bars, yeah.
0:10.4	He said he wanted to set up happy and needed some help picking it up.
0:13.7	We're here to be guaranteed a poor.
0:15.8	That's right.
0:38.4	Yeah. This is Bourbon Pursuit, the official podcast of Bourbon, bringing to you the best in news, reviews, and interviews with people making the bourbon whiskey industry happen, and I'm one of your hosts, Kenny Coleman. Burbin and charity, well, it really goes hand in hand. There have been
0:44.4	millions of dollars raised thanks to donations and the willingness of a community, listeners like you
0:50.1	and many others, to purchase for a good cause. However, doing it legally is not an easy task.
0:56.8	So I've invited Eric Clements and Kenny Rambo of Give-270 on the show to talk about doing it
1:02.8	legitimately. They started Give-270 by raffling rare bourbons in Elizabethtown, Kentucky, and they
1:08.5	raise money for local charities. And their mission is to make
1:11.7	participation affordable and fun. However, this model has proven it's successful, but it required
1:17.0	getting licensed for charitable gaming. And they discuss how they transition from a 501C nonprofit
1:22.3	and how they source rare bourbons, select the charities, do real paper raffles, and even handle taxes. While
1:29.6	rewarding, they note that there are challenges in navigating regulations, and finding inventory
1:34.3	amidst the secondary market demand, can also prove challenging as well. With that, enjoy this
1:39.4	week's episode. And now here's Fred Minnick with Above the Char. I'm Fred Minnick, and this is Above the Char.
1:48.6	This week's idea comes from Tyler Bryant, who writes me on fredminic.com.
1:53.4	I'm aware that the term single barrel is not regulated.
1:56.8	Are big distilleries marketing bottles a single barrel when in fact they are actually small batch?
	...

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