CARRABASSETT VALLEY — Carrabassett Valley Academy will hold its annual CVA Scholarship Fundraiser, previously known as the Big Raffle and Auction, from 6 to 9 p.m. Saturday, Feb. 20, at the Sugarloaf Inn.

The event, which features a raffle, live and silent auction, is now the academy’s only annual event to raise scholarship money. The school hopes to meet its fundraising goal of $95,000.

This year CVA awarded $800,000 in financial support through scholarships to 52 percent of enrolled students. Support generated through the event is a crucial part of that funding.

This year’s raffle will include a $1,000 “early bird” cash prize, which will be drawn live on WSKI at 8 a.m. Thursday, Feb. 18. The winning ticket will then be put back into the mix and will also be eligible for the $10,000 cash grand prize, which will be drawn live.

To be eligible for the early bird drawing, people must purchase a ticket by 8 p.m. Wednesday, Feb. 17. Only 500 raffle tickets will be sold, and each ticket includes admission for two to the event, plus food, drink tickets and an auction bid number.

In addition to the cash prizes, there are 28 raffle prizes valued at $100 or more, including gift certificates to local establishments.

The auction, which is available for viewing and bidding online, features a wide range of trips, adventures and memorabilia offered by members of the CVA community.

Auction items may be viewed and bid upon online. Tickets are on sale until noon Saturday, Feb. 20, or until they are sold out. Tickets can also be purchased online or at various local businesses. Ticket holders need not be present at the event to win.

FMI: www.32auctions.com/CVA2016, www.gocva.com/raffle, 207-237-4505, [email protected],