To increase participation in certain programs while encouraging shareholders and descendants to keep their contact information updated, CIRI conducts regular prize drawings from the names of those enrolled who meet certain criteria and have a current mailing address on file with CIRI. For example, quarterly prize drawings are conducted from the names of shareholders who:
- Participate in the Company’s eNewsletter Program;
- Have their CIRI dividends directly deposited;
- Participate in direct deposit, receive eNewsletters and certain other materials electronically; and
- Have valid Wills on file that comply with the Company’s fractional share policy.
Quarterly drawings are also conducted from the names of all confirmed descendants, and the names eligible shareholders and confirmed descendants who create Qenek accounts and regularly sign into the portal.
To promote visits to CIRI’s Facebook page, which provides another avenue for the Company to share information, shareholders and descendants who correctly respond to a weekly Facebook trivia question are entered into a drawing for a small promotional item. Additionally, to ensure the presence of a quorum, CIRI provides a mix of prizes in connection with its Annual Meetings of Shareholders. Shareholders attending other CIRI events are also typically eligible to participate in door prize drawings.
Special pop-up prize drawings are also periodically conducted and are typically announced via email, in Qenek and on CIRI’s social media channels.
Prizes valued over $100 are reported to the Internal Revenue Service by CIRI on the appropriate tax form on or before January 31 of the subsequent year. Recipients are responsible for any applicable state and federal taxes.