Today, Jan 22, the winners of the 7th Annual Permanent Fund Dividend Education Raffle were announced by the Alaska Department of Revenue. The drawing took place at the Lieutenant Governor’s Office and was livestreamed on the Alaska Department of Revenue Facebook page.
Each year, Alaskans can choose to donate their PFD or part of their PFD to the State’s yearly education raffle. 50% of the funds go directly to support public school needs for that year. Funds benefit public schools generally, not any one specific district. 25% of the funds go into a new education endowment fund. The remaining 25% goes to the raffle fund.
This year, public schools will receive approximately $2.3 million raised by the education raffle. $1.15 million will be invested in the education endowment fund.
Four prizes are paid out annually. First prize is 8% of the raffle fund. Second prize is 4%; third prize is 2%; fourth prize is 1%. The remaining 85% of the fund will grow the fund for future year prize money. Next year’s raffle fund is expected to start at over $1 million.
First prize was approximately $92K, second prize $46K, third prize $23K, and fourth prize $11K. Announcement of winners can be viewed here.
Anyone 18 years old or older, filing a PFD online application for themselves, will be provided an option to choose to donate money from his or her PFD to public education. Donations are made in $100 increments. Each entry goes into a drawing to be drawn by the Revenue Commissioner, or designee.