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Oregon store owner gives share of lottery prize to the schools

Oregon LotteryOregon Lottery: Oregon store owner gives share of lottery prize to the schools

The owner of a Medford, Oregon, grocery store has donated his share of an $800,000 lottery prize to two elementary schools.

Sherm's Thunderbird market received $4,000 for selling the winning ticket, but owner Sherm Olsrud split the money into two equal gifts of $2,000 to a pair of elementary schools.

Olsrud says the schools need the money because both are located in low income areas of town and that many children get their only meals at school.

Schools officials say they will use the money to improve their buildings.

AP

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3 comments. Last comment 8 years ago by LOTTOMIKE.
Page 1 of 1

United States
Member #379
June 5, 2002
11296 Posts
Offline
Posted: March 8, 2006, 9:47 am - IP Logged

Good thing the prize wasn't the $1000-a-week in OR Lose for Life. I wonder if a store receives a "bonus" for selling a Lose for Life top prize.

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    Sparta, NJ
    United States
    Member #18331
    July 9, 2005
    1977 Posts
    Offline
    Posted: March 8, 2006, 6:30 pm - IP Logged

    That raised a flag!!  WHat impact does this have on  his overall tax burden - since winning the money?  You KNOW he is going to deduct this money.  If his tax burden is equal, or close to the tax amount, he is doing exactly what a tax adviser would advise.  If he is gioving more then he would pay in taxes anyway, the good for him.  Otherwise, he is taking credit for waking up in the morning.

    Cheers

    |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

    I only trust myself - and that's a questionable choice

      LOTTOMIKE's avatar - cash money.jpg
      Tennessee
      United States
      Member #7853
      October 15, 2004
      11334 Posts
      Offline
      Posted: April 1, 2006, 8:40 am - IP Logged

      i think he did a nice thing by doing this.......