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.
Financial Details + Payouts
Charity partners earn three 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.
- Registration Fees: The total of all the $25 (or $40 during the last week) registration fees paid by walkers who, generally speaking, don't fundraise.
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 in Location | Payout % |
up to $20,000 | 65% |
$20,000k-$40,000k | 70% |
$40,000-100,000k | 75% |
$100,000 and up | 80% |
Notes
- Payout percentage is cumulative.
- Payout is calculated on total donation revenue, sponsorship fees and registration fees.
- Locations who raise $10,000 or more in business sponsorship receive 85% of their sponsorship earnings assuming the location raises a minimum of $20,000 in donation revenue.
- First-year location partners receive 70% minimum payout or higher.