I heard a disturbing quote from a different event coordinator, that only 30% of the 7 million dollars raised last year went to Cancer Research- and the rest went towards advertising and event cost. I have tried emailing the Cancer Foundation and did not get a response. On their website, it states that 100% of the money raised goes to the BC Cancer Foundation. The Alberta and Toronto Rides have the same line, then another paragraph stating the money is held in a trust for the agency, out of which advertising costs are paid. Alberta estimatse 58% of their money goes towards research. Why doesn't the BC Website have the same information? It's missing the second part. From the BC Website:5. How much money raised by The Ride to Conquer Cancer goes to the cause?All donations go immediately to The BC Cancer Foundation. Proceeds from the event stay in our province and will deliver breakthrough research, screening programs, exemplary teaching, and compassionate care at BC Cancer Foundation. 6. How does BC Cancer Foundation utilize the contributions?100% of all donations go directly to BC Cancer Foundation. Proceeds from the event stay in our province and are invested in cutting-edge cancer research, prevention and screening programs, as well as education, care and other critical cancer initiatives. In addition, BC Cancer Foundation pays for the costs of the event, most of which come from resources right here in British Columbia.From the Alberta Website:5. How much money raised by The Ride to Conquer Cancer goes to the cause?
100% of all donations come directly to the Alberta Cancer Foundation. The Foundation pays all of the expenses according to a Trustee approved budget for the event. Net proceeds stay in our province to fund world-class cancer research that will benefit all Albertans.
The following information for the Ride to Conquer Cancer is provided in accordance with Alberta's Charitable Fundraising Act:The Alberta Cancer Foundations Board of Trustee approved budget for the 2009 Ride to Conquer Cancer has a projected revenue target of $5.1 million with a projected net return of 58%. The final net result will be entirely dependant on the number of event participants and the amount they raise as gross revenue increases, the percentage cost of the event decreases. Detailed financial information regarding this event will be available in our 2008/2009 Audited Financial Statements. The Alberta Cancer Foundation is audited by the Auditor General of Alberta
All very good points, and thank you for giving us something to think about. I agree that it is probably easier to get more people to sign up for a ride to Seattle than a ride to Hope and back. And although a ride to Whistler and back sounds good, the reality is it is a tougher ride than most weekend riders would want to tackle. As I said before, I am looking forward to this ride as I have heard so many good things about it. I guess one other reality is that by going back to Seattle it makes it easier to get more people to sign up because they may have talked to people who did it before and spoke highly of the experience. Going somewhere new would not have that effect.
First I'd like to applaud the effort all the riders and volunteers put into this. I'm sure they all put heart and soul into it.
But if any of the above is true - are you OK with that as fundraisers? Are you OK with only about 35% of that $11 million dollars actually making it through to research and support?
The BC cancer Foundation itself may have a 30% expense - revenue ratio, but this ride does not. It has closer to a 65% expense revenue ratio, historically. Read the fine print in the financial statements.
So, if you told your donors that you wanted a $100 donation to support Cancer research, etc., but only $35 of that money would actually go to go to the cause they thought it was going to, do you think any of them would have given you the money?
I personally think the amount of money it costs to run huge fundraisers like this one is disgraceful, and I think it is completely misleading of them to cry "YAY!@ $11 million dollars" - when only $4 million or so of that may actually filter through.