Pelotonia breaking up with OSU foundation for better fundraising opportunities
Pelotonia is leaving Ohio State University’s nest and becoming its own nonprofit. In the past, the organization’s annual bike rides, which raise money for cancer research, have been part of the OSU Foundation.
Pelotonia president and CEO Doug Ulman believes this will allow Pelotonia to pursue new fundraising techniques that will raise even more money for Ohio State’s cancer research. Also, with the organization becoming an independent 501c3, they’ll be able to seek more diverse sources of funding which will also contribute to more money raised.
As always, Pelotonia will donate 100 percent of the money raised to cancer research once the split happens.
Ulman hopes Pelotonia will have established their independence by the start of the 2018 campaign.
Since 2008, the organization has generated nearly $134 million to cancer research at the James Cancer Hospital and Solove Research Institute. This year alone, Pelotonia has raised nearly $3.8 million already.
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