Foundation

MyHotelBike Foundation is a provider of impact funding in the Netherlands. The foundation is backed by MyHotelBike Headquarters and its partners to provide those in need of game-changing opportunities. Funding will be used to explore new ways of making a social impact together, starting by lending bicycles for free to Dutch citizens living in poverty and inviting them to events in the fields of hospitality, CSR and sustainability.

Origin

The founders of MyHotelBike grew up in a challenging and adventurous environment while selling Mexican handicrafts on a diverse range of European street markets. In Amsterdam they got to know the greatness of the bicycle. As kids they cycled to football, as teenagers to high school, and as adults they further explored the city by cycling to get-togethers in a wide variety of neighborhoods. Overall, they learned to live an active social life where caring for others, joint effort and inspiring joy make the difference. After having built a network in the hospitality industry for more than a decade, they are now rolling up their sleeves to bring everyone together around contributing to society.

Purpose

The purpose of the foundation is to refurbish the majority of the used bicycles that will no longer be rented through MyHotelBike Headquarters' partners and lend these bicycles for free to Dutch citizens who live below the poverty line. The bicycles will be lent directly from the foundation or indirectly through other (not-for-profit) organizations. The general idea and related objectives of the foundation are equal to MyHotelBike’s Giving Back Program. The sole difference is that the foundation is focussed specifically around lending bicycles in the Netherlands and the program around giving away bicycles—in a broader way—in all countries where MyHotelBike is active.

Funding

Hotels that partnered with MyHotelBike Headquarters are given the option to participate in MyHotelBike's Giving Back Program by contributing a part or all of the recurring earnings derived from the services provided by MyHotelBike. In the Netherlands, these contributions will then be used for funding MyHotelBike Foundation and covering its costs of refurbishing, training, logistics, assets and renting a building as well as the hiring of employees who will further grow the not-for-profit organization. The pay of an employee of MyHotelBike Foundation equals an average salary earned by someone working in a comparable position elsewhere. A board member of MyHotelBike Foundation only receives compensation for expenses incurred and attendance fees that are not excessive, as stated on the website of the Dutch Tax and Customs Administration (belastingdienst.nl). In addition, there are budgets for creative content, events, relationship management, administration, software development and innovation that contribute towards the continuity of the foundation. For transparency purposes, a financial and progress report will be presented every year.