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Financial Statement 2022
The People’s Party of Canada recently filed its 2022 audited financial report with Elections Canada, in accordance with regulations. That report covers the 12-month period between January 1 and December 31, 2022.
We would like to highlight the main items in this report so that you are aware of the Party’s financial situation as a member, volunteer, candidate, supporter, or as a donor or potential donor. You can read the full report here.
The People’s Party of Canada was launched by Maxime Bernier in September 2018 and registered under the Canada Elections Act in January 2019. 2022 was therefore the fourth full year of the Party’s existence.
Since there was no general election in 2022, both our revenues and our expenses were lower than during the previous year, when a general election took place.
In 2022, the Party raised $1,588,796 in donations and $182,250 in membership fees. The Party also received $707,018 in reimbursement from Elections Canada for expenses made during the 2021 general election. This corresponds to 50% of eligible expenses, as is the case for all parties that received at least 2% of the total vote across the country.
After adding transfers, interest income, and revenues from promotional material, total revenues for 2022 amounted to $2,563,972.
SALARIES AND PROFESSIONAL FEES
The Party spent $613,644 on salaries and benefits in 2022. The Party had 9 full-time employees at the end of the year, including the Leader. Employees received a 5% salary raise to account for inflation, except the Leader, whose salary has remained at $104,000 since 2020. The Party also paid $298,376 in professional fees to non-staffers.
In 2022, the Party also spent the following amounts on:
- Office supply = $36,422
- Database = $84,951
- Telecommunications = $6,685
- Interest and bank charges = $55,766
- Rent = $39,093
- Travel = $196,939
While expenses on salaries, professional fees, and rent went up compared with the previous year, they went down considerably on advertising, supporters rallies, office supplies, database, interest and bank charges, and travel (check the full report for more details and comparison with 2021).
The Party manages its finances in a responsible manner, did not borrow any money to run its election campaigns in 2019 and 2021, and does not have any debt.
Thanks to the generosity of our donors and the reimbursement from Elections Canada for the 2021 election, we finished the year 2022 with a surplus of $889,592.
On December 31, we had $244,028 in cash and cash equivalents (money in the bank), $410,456 in accounts receivable (donations received in the last days of December but not yet transferred in our bank account), as well as $1,700,000 in term deposits and investments.
We are putting money aside for the next election, which could happen at any moment with a minority government.
Running a party necessitates the work of thousands of volunteers, but also involves unavoidable costs. We are proud of what has been accomplished by the People’s Party of Canada so far and we thank the generous donors who made it possible.
If you want to help the Party be better financially prepared to sell its bold Canada First platform and fight for Freedom, Responsibility, Fairness and Respect in the next election, please donate here.
The PPC Team
July 21, 2023
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