Doorways to Dreams, the sponsor of the SaveYourRefund campaign, is a nonprofit financial innovation lab in Boston that develops strategies to encourage people to save. By the end of the tax season, D2D will have given out $35,000 in rewards to savers.
The campaign is open to any tax filer who completes IRS Form 8888 and sends at least $50 of their refund into "a savings account, certificate of deposit, IRA, prepaid card, savings bond or Treasury Direct account." There will be one $25,000 grand prize and 100 $100 prizes.
So if you are drawn to playing games of chance with your tax refund, this is one gamble where you are guaranteed to come out ahead -- even if you don't win a prize.
Michele Lerner is a Motley Fool contributing writer.