Bike Ride Charity Reports Drop In Fundraising

Another sign of the bad economy: For the first time in 30 years, the Pan-Massachusetts Challenge, the anti-cancer fundraiser, raised less money than the year before.

On Saturday night the Pan-Mass Challenge presented a check to the Dana-Farber Cancer Institute for more than $30 million, a substantial donation. Still, the cycling fundraiser raised 14 percent less money the last year, the first drop ever for the bicycling fundraiser.

"I think it’s fairly well known that in tough times, philanthropy is the first thing that goes with a lot of people," said founder Billy Starr.

But Starr saidother fundraising groups experienced bigger drops in revenue than his charity.

He says the Pan-Mass Challenge will set a higher goal for fundraising this year.