Financial Information
Where the Money Goes
The Grand Parade is a charitable program of Blue Sea Foundation, a registered Canadian Foundation working with over 300 charity partners across Canada.
Charity partners in The Grand Parade benefit from accessing our leadership and coaching, as well as our national turn-key event with its fundraising and promotion infrastructure. This saves money on staff time, development costs, cash flow risk, insurance, receipting, and ongoing management.
Whereas a typical direct-services charity has program costs like feeding, shelter, or counseling, our direct charity program costs include both our event grants as well as items like program staff, signage, event gear, swag, and the fundraising portal.
The total of all The Grand Parade grants plus our direct event costs equals our charitable program (as defined by the CRA, our national auditor BDO Dunwoody and overseen by our Board of Directors.
Financial Reporting + Accountability
Management and Blue Sea Foundation's independent Board of Directors are responsible for the financial statements.
The financial statements have been prepared in accordance with Canadian generally accepted accounting principles for not-for-profit organizations as established by the Accounting Standards Board of the Canadian Institute of Chartered Accountants.
The preparation of financial information is an integral part of the ongoing management of our organization. Management has developed and maintains financial and management controls, information systems and management practices to provide reasonable assurance that financial information is objective and reliable and that the organization's assets are safeguarded.
([Audited Financial Statements:
Financial Details + Payouts
Charity partners earn two sources of revenue in the event. Together these are collected and tabulated to establish their final grant payment.
- Donation Revenue: All the money fundraised by teams and their participants.
- Sponsorship: All community sponsorship revenue earned from local businesses who sponsor the event.
Charity Partner Payout Schedule
At the conclusion of the event, Blue Sea Foundation tallies all of the revenue earned by each charity partner and pays out a grant based on how much was raised in each location using the schedule below:
Total Raised by Charity | Payout % |
$100,000 plus | 85% |
$50,000-$100,000 | 80% |
$20,000-$50,000 | 75% |
$10,000-$20,000 | 70% |
$0-$10,000 | 50% |
- 97% of our charity partners raise above $10,000 and our average payout among all charities is 74%.
- Payout percentage is cumulative from the first dollar.
- Payout is calculated on total verified donation revenue and community sponsorships.