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Financial Statement 2021
The People’s Party of Canada recently filed its 2021 audited financial report with Elections Canada, in accordance with regulations. That report covers the 12-month period between January 1 and December 31, 2021.
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. 2021 was therefore the third full year of the Party’s existence.
Since 2021 was an election year, we predictably raised and spent a lot more money than in the previous year. Numbers from 2020 and 2021 are displayed in the full report for comparison.
The largest item of expenses was election advertising at $1,343,722. Travel expenses, mostly to pay for the Leader touring the country during the election campaign, were also significant at $244,015.
The Party transferred $40,000 to the Leader’s campaign in Beauce, and $150,551 to various candidates in key ridings.
In 2021, the Party raised $2,942,602 in donations and $143,754 in membership fees. After adding transfers, interest income, and revenues from promotional material, total revenues for 2021 amounted to $3,149,555.
SALARIES AND PROFESSIONAL FEES
The Party spent $536,801 on salaries and benefits in 2021. The Party had 13 full-time employees at the end of the year, including the Leader. Mr. Bernier’s salary in 2021 was $104,000, the same as in 2020. The Party also paid $198,454 in professional fees to non-staffers.
In 2021, the Party also spent the following amounts on:
- Lawyer fees = $36,611
- Office supply = $57,155
- Database = $103,730
- Telecommunications = $6,254
- Interest and bank charges = $111,865
- Rent = $26,994
- Supporters rallies = $10,529
Much higher bank charges compared to 2020 are explained by the fact that our revenues also increased significantly. Bank charges are unfortunately unavoidable when donations are being made online. We must pay a fee of $0.32 for each transaction plus 2.9% of the amount donated to payment processors. We are looking at alternatives in order to reduce these charges.
Note that following the outbreak of the COVID-19 pandemic, and in order to reduce costs during these uncertain times, the Party closed its Gatineau office in June 2020 and only reopened one in Ottawa in July 2021 in preparation for the general election. All staffers worked remotely during that period.
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, we finished the year 2021 with a surplus of $453,477 in cash and cash equivalents. We also had $634,830 in temporary 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 22, 2022
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