The People’s Party of Canada recently filed its 2024 audited financial report with Elections Canada, in accordance with regulations. That report covers the 12-month period between January 1 and December 31, 2024.
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.
Our revenues from donations were markedly lower in 2024 than during the previous year. In 2024, the Party raised $1,159,903 in donations and $145,975 in membership fees. We also had minimal revenues from the sale of promotional material after closing our online store and making arrangements with independent vendors instead. After adding transfers and interest income, total revenues amounted to $1,511,881.
The Party spent $653,880 on salaries and benefits in 2024. This amount includes compensations for two employees who were let go. The Party had 6 full-time employees at the end of the year, including the Leader. Employees received a 2% salary raise to account for inflation, except the Leader, whose salary has remained at $104,000 since 2020. The Party also paid $224,106 in professional fees to non-staffers.
In 2024, the Party also spent the following amounts on:
• Advertising = $103,729
• Office supplies = $91,194
• Database = $87,197
• Telecommunications = $7,286
• Interest and bank charges = $31,757
• Rent = $40,141
• Travel = $140,348
• National Congress = $ 287,768
While expenses on salaries and professional fees were up slightly mostly because of compensations for departing employees, expenses on advertising and travel, as well as transfers to candidates and EDAs, went down considerably compared with the previous year, when a lot of resources had been spent on by-elections, in particular the one where the Leader was the candidate in Portage-Lisgar. The Party also spent a large sum to organize its Revision 2024 Conference, the first time in five years we held a national convention (check the full report for more details and comparison with 2023).
The Party manages its finances in a responsible manner, did not borrow any money to run its election campaigns in 2019, 2021, and 2025, and does not have any debt. We nevertheless ended the year 2024 with a $185,530 deficit, funded by money that had been set aside in previous years.
On December 31, we had $482,651 in cash and cash equivalents (money in the bank), $118,232 in accounts receivable (donations received in the last days of December but not yet transferred in our bank account), as well as $1,514,254 in term deposits and investments.
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 our 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.
Many thanks,
The PPC Team
