Store to Fund Scholarships With Lotto Profits

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Store to Fund Scholarships With Lotto Profits

FORT DODGE, Iowa -- Convenience chain Kum & Go, whose store sold a $200 million winning Powerball ticket, will donate its $10,000 profit to two local high schools, The Associated Press reported.

The Kum and Go store in Fort Dodge, Iowa that sold the ticket for Saturday's drawing will receive the money from the Iowa Lottery. Kum & Go Founder Bill Krause told the AP that Fort Dodge Senior High School and Saint Edmond's High School each will be given $5,000 to be split into five $1,000 scholarships.

Lottery officials told the AP that the winner of the drawing might not be announced for a few more days or weeks, because of talks with a financial advisor.

The small town is taking guesses on whom might be the lotto winner, the Des Moines Register reported. One of the potential winners could be a group of school teachers that bought the winner as part of a Powerball pool.

"We've heard that, but it's just the rumor mill. Who knows?" Tina Potthoff, Iowa Lottery spokeswoman, told the newspaper. "It could just be the talk of the town."