Win a 1966 Bronco with Modern Upgrades & Support a Good Cause

[Alltroo]

Hey, Bronco fans! We’re Alltroo and we’re giving you the chance to win a custom-built 1966 Bronco worth over $250,000. Shipping’s on us. And we’re also throwing in $50,000 cash for taxes. You can enter to win at alltroo.com/bronco

This Bronco was custom-built by the pros at Gateway Bronco with a 3rd Gen. Ford 5.0L Engine, Kincer Engineering Chassis, 18" Billet Machined Wheels, Distressed Italian Leather interior, CarPlay + Bluetooth Audio, and more upgrades.
We hope you don’t mind us posting here, but this giveaway is for charity. Proceeds will support Kevin Bacon’s nonprofit, SixDegrees.Org. Any donation, big or small, will make a difference and get you entries to win!

Any questions? Let us know and we’ll be happy to answer them for you!

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[timhood]

Is Kevin willing to sign the inside of the glove box if I win?

 

[adam1991]

Is Kevin willing to sign the inside of the glove box if I win?

You laugh--a buddy of mine owns a DeLorean, and he got Christopher Lloyd to sign the glovebox lid. (He used a silver Sharpie.)

I'll scream, though, if he gets Tom Selleck to sign anything on his Ferrari 308...

But if Henry Ford's signature shows up on his Model T, I'll know something's up.

I'd think this piece should come with Kevin Bacon's signature.

 

[CitrusBronco]

That’s a darn nice Bronco and sounds like a good cause.
I’m not sure where $250k got spent.
I would drive the heck out of it.

 

[Doc TOC]

Another scavenger solicitor making money off of good people. When will the insanity end?

From their website:
ALLTROO, INC will receive, as costs, expenses and fees, a portion of the funds raised through this solicitation campaign.

These types of companies take 30% - 50% of the funds collected, plus their costs (at lease $250,000 here), plus administrative fees, network fees, advertising fees, card processing fees, etc. Often times the charities see less than 25% of the money collected.

They don't even mention if a 3rd party controls the give away. So many of these scammers end up giving the prize to someone they know or want to influence.

You want to help a charity. Make a direct donation. Don't be fooled by the shiny penny!

And shame on the @Administrator for letting this hogwash through.
Haven't we learned our lesson about bad sponsors yet?

 

[BroncocnorB]

Oh damn- and Kevin is a neighbor of mine a fews months out of the year. I’ll ask him about it

 

[timhood]

Another scavenger solicitor making money off of good people. When will the insanity end?

From their website:
ALLTROO, INC will receive, as costs, expenses and fees, a portion of the funds raised through this solicitation campaign.

These types of companies take 30% - 50% of the funds collected, plus their costs (at lease $250,000 here), plus administrative fees, network fees, advertising fees, card processing fees, etc. Often times the charities see less than 25% of the money collected.

I understand your hatred of these fundraisers, but the numbers aren't exactly how you portray them.

All of those costs exist regardless of the charity. While this setup is through a middleman company, costs would be similar if a charity handled the giveaway directly. Many charities avoid directly handling giveaways to avoid the complexities of rules in 50 states (and internationally) and any potential legal issues.

What you are saying is true: the charitable donation is usually only perhaps 25% of the money collected, but not because the fundraising company is taking up to 50%. It's because the prize is a huge cost (more than half when also factoring in insurance, storage, transportation, etc.). And the cost of running the fundraiser itself is fairly significant, but generally more like 25%. The ultimate donation is usually around 25%.

They don't even mention if a 3rd party controls the giveaway. So many of these scammers end up giving the prize to someone they know or want to influence.

I don't know of any reputable fundraising company that would dare rig a giveaway. Maybe some small company, but the risk is very high On the contrary, I know two people who won vehicles as prizes through raffles like these. Neither was through Alltroo, so I don't speak specifically for them. But both had online raffles. One did a live draw and the other was like this where it was handled offline and they announced the winner.

You want to help a charity. Make a direct donation. Don't be fooled by the shiny penny!

Absolutely, a direct donation is the best donation. Checking into a charity's overhead via information disclosure on their website or their IRS Form 990s or websites like GuideStar, Charity Navigator, and ProPublica is a great way to ensure your money is being put to good use.

But many more people are induced to donate if there's hope of a prize, even if winning that prize isn't such a great financial deal. In the end, 25% for the charity is better than 0%.

In this case, The $300K value will be added to the winner's income and the $50K for taxes won't come close to covering the federal and state taxes for the prize as you leap into the 32-35% tax bracket, because you also have to pay taxes on the $50K that's meant for taxes! Then there are the vehicle registration and title fees (in many states, this includes sales tax) as well as insurance. When you sell it, you probably will take a hit and end up with maybe 75% of the value. (And maybe take another hit of 5-10% in auction fees.) But in the end, you might end up with as much as $180K if your state has no sales tax and you have a good number of other deductions and can sell it without paying auction fees. Or as little as $100K if your state has higher taxes and you have fewer deductions and pay auction fees. It's still better than nothing, but just winning cash would be much easier.

 

[huey]

I understand your hatred of these fundraisers, but the numbers aren't exactly how you portray them.

All of those costs exist regardless of the charity. While this setup is through a middleman company, costs would be similar if a charity handled the giveaway directly. Many charities avoid directly handling giveaways to avoid the complexities of rules in 50 states (and internationally) and any potential legal issues.

What you are saying is true: the charitable donation is usually only perhaps 25% of the money collected, but not because the fundraising company is taking up to 50%. It's because the prize is a huge cost (more than half when also factoring in insurance, storage, transportation, etc.). And the cost of running the fundraiser itself is fairly significant, but generally more like 25%. The ultimate donation is usually around 25%.



I don't know of any reputable fundraising company that would dare rig a giveaway. Maybe some small company, but the risk is very high On the contrary, I know two people who won vehicles as prizes through raffles like these. Neither was through Alltroo, so I don't speak specifically for them. But both had online raffles. One did a live draw and the other was like this where it was handled offline and they announced the winner.



Absolutely, a direct donation is the best donation. Checking into a charity's overhead via information disclosure on their website or their IRS Form 990s or websites like GuideStar, Charity Navigator, and ProPublica is a great way to ensure your money is being put to good use.

But many more people are induced to donate if there's hope of a prize, even if winning that prize isn't such a great financial deal. In the end, 25% for the charity is better than 0%.

In this case, The $300K value will be added to the winner's income and the $50K for taxes won't come close to covering the federal and state taxes for the prize as you leap into the 32-35% tax bracket, because you also have to pay taxes on the $50K that's mean for taxes! Then there are the vehicle registration and title fees (in many states, this includes sales tax) as well as insurance. When you sell it, you probably will take a hit and end up with maybe 75% of the value. (And maybe take another hit of 5-10% in auction fees.) But in the end, you might end up with as much as $180K if your state has no sales tax and you have a good number of other deductions and can sell it without paying auction fees. Or as little as $100K if your state has higher taxes and you have fewer deductions and pay auction fees. It's still better than nothing, but just winning cash would be much easier.

the website does also offer a $125k cash prize - definitely a much easier prize to claim

 

[c-dubb]

Also just in case you're wondering about the money that actually does trickle down to the organization. It might not be one that you would otherwise choose to support. "Drag defense fund" and all... If you agree that "Drag is an art and drag is a right" though by all means...

Kevin Bacon | All smiles matching @kyrasedgwickofficial have you gotten your shirt yet? Join us in supporting the @sixdegreesofkb campaign benefiting... | Instagram

 

[AlltrooJon]

Hello there! I’m the CEO and one of the co-founders of Alltroo. I wanted to reach out and address your questions directly. I appreciate the scrutiny, and I'm always happy to answer questions, as there are some bad apples in this space. However, it’s important to remember that not all professional fundraisers are created equal. I’d like to take a moment to clarify any misconceptions you may have about Alltroo and address any concerns you have about our practices.

Alltroo was started by me and another colleague who ran a non-profit together, and two pro athletes who’ve been recognized for their charitable work and community service in the NFL and NHL. These two pro athletes, Kyle Rudolph (3x nominee for NFL Walter Payton Man of the Year) and Jason Zucker (winner of NHL King Clancy Award), know that their reputation is on the line with this business, and they wouldn’t do anything to mess up their already great charitable record. We created Alltroo to solve a problem that charities face when they’re trying to raise money without a lot of resources. All 4 of our founders have encountered this challenge firsthand in trying to raise money for our charities.

Alltroo is a partner of the NFL's Walter Payton Man of the Year Award (see here for the NFL press release last year that mentions the Alltroo partnership), partner of the NHL's King Clancy award, the foundations for UFC, NASCAR, PGA of America, etc... and too many professional sports team's foundations to count.

I say this because these leagues would NEVER partner with Alltroo and let us use their logos on our website unless we passed major vetting and they felt comfortable with us fundraising on their foundations' behalf. We hold ourselves to a very high standard.

We do have a 3rd party, completely independent contractor do our drawings. If you look over the winners section of our website, I think you'll agree that these are all perfectly normal fans who took a chance on an amazing prize, just like it'll be when this Bronco is given away.

We fully support donating directly to charity! The founders’ passion for this, and the challenges we faced getting people to do so, led to this company being formed. If everyone did that, professional fundraisers like Alltroo wouldn’t be needed. However, charities struggle to solicit donations and stay afloat. Our business spreads awareness about these charities and brings new donors who want to donate and be entered for a chance to win an amazing prize. It’s a win-win for users and charities.

Another scavenger solicitor making money off of good people. When will the insanity end?

From their website:
ALLTROO, INC will receive, as costs, expenses and fees, a portion of the funds raised through this solicitation campaign.

These types of companies take 30% - 50% of the funds collected, plus their costs (at lease $250,000 here), plus administrative fees, network fees, advertising fees, card processing fees, etc. Often times the charities see less than 25% of the money collected.

They don't even mention if a 3rd party controls the give away. So many of these scammers end up giving the prize to someone they know or want to influence.

You want to help a charity. Make a direct donation. Don't be fooled by the shiny penny!

And shame on the @Administrator for letting this hogwash through.
Haven't we learned our lesson about bad sponsors yet?

 

[adam1991]

The $300K value will be added to the winner's income and the $50K for taxes won't come close to covering the federal and state taxes for the prize as you leap into the 32-35% tax bracket, because you also have to pay taxes on the $50K that's mean for taxes!

Not necessarily. The IRS has ways of dealing with this.

 

[UNBROKN]

Just got 1100 entries. 100 of those free! Thanks for the explanation of how you work and who is behind it!

 

[timhood]

Not necessarily. The IRS has ways of dealing with this.

I'm not sure I understand what you mean. What I meant was that a single person will be in the 35% tax bracket when this $300K 1099 is added to their adjusted gross income, and a married couple with moderate income will be in the 32% bracket. The $50K cash part of the prize is most definitely 100% federally taxable.

My other numbers were based on various scenarios of whether one would have state income tax, and/or sales tax due at titling and registration. Someone else mentioned that $125K cash option. That would could net the winner close to $100K, depending on their tax scenario.

 

[mcon33]

Hey, Bronco fans! We’re Alltroo and we’re giving you the chance to win a custom-built 1966 Bronco worth over $250,000. Shipping’s on us. And we’re also throwing in $50,000 cash for taxes. You can enter to win at alltroo.com/bronco

This Bronco was custom-built by the pros at Gateway Bronco with a 3rd Gen. Ford 5.0L Engine, Kincer Engineering Chassis, 18" Billet Machined Wheels, Distressed Italian Leather interior, CarPlay + Bluetooth Audio, and more upgrades.
We hope you don’t mind us posting here, but this giveaway is for charity. Proceeds will support Kevin Bacon’s nonprofit, SixDegrees.Org. Any donation, big or small, will make a difference and get you entries to win!

Any questions? Let us know and we’ll be happy to answer them for you!

Entered and Entered for that Hennessey RaptorR as well. Thank you.

 

[Figmo]

Not necessarily. The IRS has ways of dealing with this.

As a guy who just won a house this year (yeah - a freakin’ house) I can attest that the IRS gives zero f’s about dealing with this.

It’s all taxable (reported as gambling winnings). 24% is collected IN ADVANCE as withholding until you file your next tax return. At which time the actual tax you owe (or refund due) is based on your income, deductions, etc.

You read that right. IN ADVANCE. Shit they don’t tell you when you buy that ticket.

In my case, the home was appraised at $630,000. I couldn’t take possession of it until I came up with the withholding tax of $153,000 CASH!! Now, I know what you’re thinking, just take out a mortgage on the new house to cover the taxes. Na na na…..you can’t get a mortgage on a home you don’t own (yet). And you don’t own the home until you pay the taxes.

Luckily, I had the resources to cover the $150K. But I can imagine many people would not. That’s a whole lot of moola. Something to keep in mind.

For this raffle, the total prize value would be $300,000, the withholding tax would be $72,000. Since $50,000 of it is cash - the IRS will allow you to surrender that cash to cover the tax but that will leave a balance due of $22,000 before you can get the keys to your new old Bronco.

NOTE: I am not a tax attorney - only reporting what I went through this year winning a large raffle such as this. YMMV

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