Oregon store owner gives share of lottery prize to the schools

Mar 8, 2006, 9:45 am (3 comments)

Oregon Lottery

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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CASH Only

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.

Chewie

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.

LOTTOMIKE's avatarLOTTOMIKE

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

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