The 11-year-old boy who wowed hockey fans  by hitting a puck through a hole in a board 89 feet away has lost the $50,000 jackpot attached to the miracle shot.

The company that insured the charity event, Odds on Promotions, said that 11-year-old Nate Smith isn’t eligible to take home the $50,000 because the raffle ticket that allowed him to take the hockey shot was in his twin brother’s name. 

The honesty of the twin boys’ father is what led the event organizers to realize that Nate had posed as his twin brother Nick when he made the shot.

“I called into the organizers. We told them that Nate made the shot. We did the right thing,” Pat Smith told ABCNews.com on Aug. 15. “I just think that honesty is more important than any prize or money you could get.”

The company that sponsored the event said that they will donate $20,000 to youth hockey in Minnesota in the boys’ names, the Associated Press reported.

Smith told ABCNews.com today that the boys are a little disappointed, but have managed to find the silver lining in the situation.

“They’re pretty happy that they ended up getting that stuff donated to the youth hockey…. We’re happy that they’re paying something out. They could of just not given us anything,” Smith said.

The boys did get something out of it. “The Shattuck School is also giving them a three week hockey camp next summer,” the dad said.

 The boys had originally planned to put some of the money into their college savings accounts and then donate the rest to youth hockey.

“We just told them that no matter how much money is involved. It’s always best to tell the truth and things will work out,” Smith said.

Nate and Nick start school after Labor Day and will be playing hockey.

“They’re going to be pee-wees this year,” Smith said.

Nate made his amazing shot at a celebrity fundraiser hockey game in Faribult, Minn., on Aug. 11. He took aim from the center ice  and fired the puck 89 feet straight in a goal which measured a mere three and a half inches. The puck is three inches wide.

It happened during the annual “Shattuck vs. the World” game attracts Shattuck -St. Mary’s alumni who play in the NHL and raises money for the Faribult Youth Hockey Association.  NHL fan favorites Zach Parise, Kyle Okposo, Dustin Byfuglien, and Patrick Ewes were all in attendance at the game.

ABC News’ Nina Terrero and the Associated Press contributed to this report.