Iowa Lottery Right on Track with Annual Proceeds Raised So Far
DES MOINES, Iowa - With its latest transfer to the Iowa Veterans Trust Fund, the lottery has hit another milestone: $7 million raised so far for veterans' causes.
The latest transfer in FY 2011 of more than $1.6 million was made this week and has brought the total raised for the Veterans Trust Fund to $7,063,573. The Lottery's first games to benefit the Trust Fund began sales in July 2008, with two new instant-scratch and two additional pull-tab games created each year, with proceeds from those games dedicated to the Veterans Trust Fund.
When the idea of games dedicated to veterans was initially discussed, the lottery estimated it could raise $2 million to $3 million annually for the Trust Fund. The FY 2009 total was $2.8 million and another $2.6 million was raised in FY 2010. Combine that with FY 2011 totals so far, and the lottery has raised more than $7 million for the Iowa Veterans Trust Fund in a little more than two years.
"The lottery's strong results continue to demonstrate Iowans' support for such a noble cause," Iowa Lottery CEO Terry Rich said. "Our thanks go out to our players for helping us provide a stable, ongoing source of revenue for the Iowa Veterans Trust Fund."