John,
The People’s Party of Canada recently filed its 2023 audited financial report with Elections Canada, in accordance with regulations. That report covers the 12-month period between January 1 and December 31, 2023.
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. 2023 was therefore the fifth full year of the Party’s existence.
Our revenues from donations were slightly higher in 2023 than during the previous year. However, our total revenues were lower, having been temporarily boosted in 2022 by reimbursements from Elections Canada for election expenses made during the 2021 general election.
In 2023, the Party raised $1,620,662 in donations and $163,437 in membership fees. After adding transfers, interest income, and revenues from promotional material, total revenues for 2023 amounted to $2,169,970.
The Party spent $524,875 on salaries and benefits in 2023. The Party had 7 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 $283,231 in professional fees to non-staffers.
In 2023, the Party also spent the following amounts on:
While expenses on salaries and professional fees, went down compared with the previous year, they went up considerably on advertising, travel, and transfers to candidates and EDAs for the by-elections that took place in 2023, including the one where the Leader was the candidate in Portage-Lisgar (check the full report for more details and comparison with 2022).
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 2023 with a small surplus of $64,771.
On December 31, we had $308,527 in cash and cash equivalents (money in the bank), $267,495 in accounts receivable (donations received in the last days of December but not yet transferred in our bank account), as well as $1,790,649 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.
Many thanks,
The PPC Team
August 25,
2024