A professional sports team charitable foundation is qualified to conduct charitable raffles under this chapter if the foundation:
(1) is associated with a professional sports team with a home venue or rodeo venue located in this state;
(2) does not distribute any of its income to its members, officers, or governing body, other than as reasonable compensation for services;
(3) has existed for at least the three years preceding the conduct of a raffle under this chapter;
(4) does not devote a substantial part of its activities to attempting to influence legislation and does not participate or intervene in any political campaign on behalf of any candidate for public office in any manner, including by publishing or distributing statements or making campaign contributions;
(5) qualifies for and has obtained an exemption from federal income tax from the Internal Revenue Service as a charitable organization described in Section 501(c)(3), Internal Revenue Code of 1986; and
(6) does not have or recognize any local chapter, affiliate, unit, or subsidiary organization in this state.