Blue Sea Philanthropy

659 King Street East
Kitchener, ON N2G 2M4
Executive Director: Brian Carney
Accountant: Shelley Donald

Website: www.blueseaphilanthropy.org
Charitable Reg. #: 8198 82655 RR0001
Sector: Fundraising Organization
Public Foundation

Social Results Reporting

Grade: B-

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #6

Avg. Compensation $74,518

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 2
$40k - $80k 2
< $40k 2
Information from most recent CRA Charities Directorate filings for F2014

About Blue Sea Philanthropy:

Established in 2010, Blue Sea Philanthropy improves the effectiveness of other registered charities by providing centralised fundraising events. The charity is focused on managing 3 national fundraising events: Ride for Refuge, Coldest Night of the Year, and Up All Night.

Ride for Refuge is a family-friendly cycling and walking fundraiser that helps charities raise money for displaced, vulnerable and exploited people around the world. Ride for Refuge has helped 350+ charities raise over $10m since its inception in 2004. The charity reported that 72% of the $4.4m revenue from the 2014 Ride for Refuge event went to other charities; the rest was spent on programs, administration and fundraising.

Coldest Night of the Year is a winter walking fundraiser that raises money for the hungry, homeless and hurting. Since 2011, Coldest Night of the Year has raised $7.9m for 100+ communities across Canada. The charity raised $3.8m for 92 charities across the country in the 2016 Coldest Night of the Year event.

Financial Review:

In F2015, Blue Sea Philanthropy spent 6% of revenues on administrative costs and 19% of donations on fundraising costs. Total overhead costs of 26% fall within Ci's reasonable range. The charity has funding reserves of $292k, which can cover annual grants for less than 1 month.

Analysis updated by Ruoxi Gao in 2016, currently under review by Blue Sea Philanthropy.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 6.3%6.5%7.9%
Fundraising costs as % of donations 19.2%21.3%19.7%
Program cost coverage (%) 7.5%4.3%4.6%

Summary Financial Statements

All figures in $000s
201520142013
Donations 5,4294,3733,140
Other income 04034
Total revenues 5,4294,4133,174
Grants 3,9023,1452,256
Administrative costs 343285251
Fundraising costs 1,044930619
Cash flow from operations 1405348
Funding reserves 292134104
Note: The charity did not specify sources of revenue in its audited financial statements.  Ci pulled the breakdown of revenue from CRA's T3010 filing.  Other income consists of international donations.  The charity's F2015 T3010 filing was not posted on the CRA's website when this profile was created, so the breakdown of F2015 revenue is not known and compensation information is based on the charity's F2014 T3010 filing.  

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