Charity partners in the Coldest Night of the Year benefit from accessing our leadership and coaching, and our national turn-key event with its fundraising and promotion infrastructure that 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 all our event grants as well as items like program staff, signage, event gear, toques, and the fundraising portal.
The total of all Coldest Night of the Year 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.
Management and Blue Sea Foundation's independent Board of Directors are responsible for the financial statements. Our charity number is #819882655RR0001 - visit our CRA listing page.
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 maintained 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.
$200,000 plus | 85% |
$100,000-$200,000 | 80% |
$50,000-$100,000 | 75% |
$0-$50,000 | 70% |
Notes
- In 2022, the average charity partner raised just over $71,829 and 81% of all donations and sponsorship were paid out as grants ranging from 70% to 85% depending on final amount raised.
- Payout percentage is cumulative.
- Payout is calculated on verified total donation and sponsorship revenue.
- Locations that 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.
