I get annoyed when charities waste money.
A recent article in the Boston Business Journal describes a study from a Charitable Foundation with over $1B in assets that commissioned a report on the economic impact of the Olympics coming to Boston. The report was favorable – however – they forgot to mention the part about how it may affect local charities. Is this really happening? A large Boston foundation that supports local charities paid for a report that did not include information about how the Olympics would potentially impact the corporate giving of Boston companies. Jaw drop.
According to the article “The omission is noteworthy because of evidence that prior Olympics badly hurt local charities in other host cities..”
So there it is. Hosting the Olympics would be good for the economy but bad for the local charities.
I wrote about this is January and here it is again, regarding the possibility of the Olympics coming to Boston in 2024.
I love watching the Olympics.
I get the tingles when I hear the big drum beat when the Olympic rings appear on the screen.
Boom boom ba boom boom…..
If you haven’t heard, Boston is the USAs submission for consideration of the 2024 summer games. Officially known as the Games of the XXXIII Olympiad. We will find out in 2017 which city is chosen to host.
Much has been written these past weeks since Boston has been chosen for the short list. According to CBSnews, Boston joins Rome as the only other city that has officially decided to bid. Germany will submit either Hamburg or Berlin, with France and Hungary among those also considering bids. Some Bostonians feel that there should a referendum put up for a vote to gauge the support of those residents that may be affected.
The hope is that no public funds will be needed or used to help pay for the Boston Olympics. Things that make you go Hmmmmmm. A CNBC article says that the Olympic organizing committee hopes to produce this event for ONLY $5 Billion! What a bahgain!
So how will they pay for this?
If you have read my previous blog posts about the Sochi and London Olympics, then you have seen that millions (billions?) of corporate dollars are needed to produce these events. Sponsorships. Corporate Sponsorships will help pay for the games.
This is where the WalkathonMaven is concerned. Having a blog allows me to have an opinion on many things. Since this potential event is close to home (I live 20 miles from Boston) there will be many-an-opine coming from moi. Buckle up. As you may know, I am an event junkie. I love attending, volunteering and sometimes producing an event. If the 2024 Olympics do come to Boston, then I will be out there volunteering with my other AARP-brethren pointing to where the toilets are. I may even brush-up on the French I forgot from high school. I may even challenge myself to learn “the toilets are this way” in several languages! WooHoo! I will live in my SUV near Carson Beach while I rent out my home for meeeeeeellions of dollars.
Local non-profits rely on the corporate dollar and mostly the corporate sponsorship dollar to produce their walkathons in and around Boston. The corporate sponsorship dollars help defray the costs of producing an event. Corporate sponsorship dollars are needed to pay for sexy things like tents, toilets, chairs, printing, police, postage etc… This allows more of the walker donations to go toward the mission of the non-profit organization. With me?
There are many worthy causes competing for the corporate donation dollar. When the Boston Marathon bombings occurred and the One Fund Boston was established to help those affected, many corporate donation dollars were directed toward this. Great cause, yes – but these same corporations have a limited donation bucket capacity and had to reduce the support they usually gave to the other organization that rely on their sponsorships. Many walkathons in Boston had reduced support from local corporations since they were supporting the One Fund instead. Still with me?
My main concern regarding the Olympics coming to Boston is that many of the corporate donations that local walkathons rely on will be directed instead to Boston2024. While many of the local walkathons have sponsorship levels at $5K, $10K, $25K or $50 thousand, these same corporations will instead be asked for $5M, $10M, $25M and $50 MILLION to sponsor the Olympics.
I really HOPE that Boston gets the Olympics and I really HOPE that the corporations will minimally level-fund their walkathon sponsorships. This way the for-profit and non-profits in and around Boston can happily share the world spotlight on our great city! For more information about the Boston bid for the 2024 Olympic, please check out their website here.
