Blue Sea Philanthropy
Kitchener, ON N2G 2M4
Executive Director: Brian Carney
Accountant: Shelley Donald
Charitable Reg. #: 8198 82655 RR0001
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.
Program Cost Coverage
Full-time staff #6
Avg. Compensation $74,518
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||2|
|$40k - $80k||2|
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.
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 RatiosFiscal year ending December
|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 StatementsAll figures in $000s
|Cash flow from operations||140||53||48|