A Maryland equity company, Deal Metrics, seems bullshit on the idea. Here's a recent press release.
-------------------------------------------------------------------------------
Deal Metrics Makes Significant Investment In Charity Home Raffle
BALTIMORE, MD -- Baltimore-based Deal Metrics Private Equity Group today announced a significant investment in Charity Home Raffle, LLC.
Charity Home Raffle, a licensed and bonded professional solicitor also based in Baltimore, conducts raffles involving high-end homes for sale by owners or developers. Proceeds from raffle ticket sales are used to deliver the appraised value of the home to the homeowner or developer while generating substantial revenue for a designated charity.
"Given the current state of the U.S. housing market, it's difficult for both sellers and buyers to transact sales," explains Charity Home Raffle Partner Kevin Ellis. "Our raffles enable a developer or homeowner to sell their house and one lucky individual to get a great deal on owning a home. It's a classic win-win."
According to Deal Metrics' Managing Director Luke Cooper, "Our investment will strengthen the infrastructure of Charity Home Raffle and enable the company to better provide win-win solutions for homeowners and nonprofits. Advertising, which will be underwritten through this investment, will help generate awareness and interest in Charity Home Raffle from potential winners, homeowners, and nonprofits. This interest, in turn, will help to promote raffle tickets sales while growing the number of homeowners and charities that use Charity Home Raffle."
Deal Metrics' investment will be utilized for online, broadcast TV, and print advertising, as well as ongoing operations within Charity Home Raffle. In addition, the investment will allow Charity Home Raffle "to expand beyond our current base in the Mid-Atlantic to other areas of the country where home sales have been devastated by the economic downturn, such as Florida and California," says Ellis.
The concept of raffling a home for charity has been proven effective and often attempted. Past experience, however, shows that such raffles are only successful when properly managed and promoted. The investment by Deal Metrics will ensure proper management and promotion for Charity Home Raffle.
"Nonprofits play a critical role in our country by providing affordable and accessible services in key sectors such as social welfare, arts and culture, education, religion, health care, etc.," Ellis concludes. "With the investment by Deal Metrics, we are now able to expand operations and properly promote and manage our product, while making a real contribution to the charities that are so essential to our communities."
Charity Home Raffle currently is handling home raffles that will help to support two nonprofits, the Sojourner Christian Academy and Second Chance Services Unlimited.
The investment in Charity Home Raffle is the latest major investment made by Deal Metrics. Last fall, Deal Metrics acquired the food service division of Brigham's Ice Cream, located in Boston, Massachusetts. Deal Metrics will continue to focus on supporting existing portfolio companies and on originating and completing mid-market acquisitions in the Northeast and Mid-Atlantic regions of the country.
For more information, visit www.charityhomeraffle.us or www.dealmet.com
Contacts:Ray Weiss or Jessica Trzyna
443-451-7144
rweiss@weissprassociates.com
