TRANSPARENCY AND ACCOUNTABILITY
H2B believes in transparency and accountability, and wants donors and participants to be confident that they are supporting a fiscally responsible charity. Harbor to the Bay, Inc. is a 501(c)(3) not-for-profit organization, and is run solely through volunteer efforts and has no paid employees.
In 2006, 13% of total revenue covered the costs of H2B. This is far below the 35% recommended by ‘The Standards For Charitable Accountability’ set by the Better Business Bureau. We are proud of our low-cost structure!
H2B has three revenue streams:
- Rider-received pledges and fundraising donations
- Registration fees
- Private corporate donations
Rider-received pledges are collected online or in person. Fundraising donations are collected through events hosted by the sponsors of H2B, and staffed with H2B volunteers. 100% of all rider-received pledges and donations gathered at fundraising events are given to our beneficiaries.
All expenses for the H2B Ride are covered by the registration fees and private corporate donations. Registration fees cover jerseys, safety training, food and route preparation. Private corporate donations are used to cover marketing expenses, merchandise (T-shirts, hats) and participation in the Boston Pride Parade.
Additional expenses include printing and mailing supplies, and postage. A percent of excess revenue from fees and corporate donations is used as seed money for next year’s ride, with any remainder donated to our beneficiaries.
H2B is registered with GuideStar.org, a website dedicated to “producing the largest and most comprehensive publicly available nonprofit information resource.” H2B's updated information and IRS Forms 990 are available for download.