FINANCIAL STATEMENT 2020
The People’s Party of Canada recently filed its 2020 audited financial report with Elections Canada, in accordance with regulations. That report covers the 12-month period between January 1 and December 31, 2020.
We would like to highlight the main items in this report so that you aware of the Party’s financial situation as a member, dedicated volunteer, supporter, or as a donor or potential donor. You can read the full report here.
In 2020, the Party raised $963,059 in donations and $64,407 in membership fees. After adding transfers and interest income, total revenues for 2020 amounted to $1,146,607.
SALARIES AND PROFESSIONAL FEES
The Party’s main item of expenses in 2020 was salaries and benefits, at $395,690. The Party’s had four full-time employees at the beginning of the year and six at the end of the year, including the Leader. Mr. Bernier did not receive any salary or compensation from the Party in 2018 and 2019, as he was then receiving a salary as a Member of Parliament. He only started receiving a salary at the beginning of 2020 and his salary for the year was $104,000.
Contrary to other parties, the Party did not apply for the federal government’s COVID-19 wage subsidy program. The Party also paid $73,428 in professional fees to non-staffers.
The Party spent $61,366 in legal fees in 2020 to defend itself in various lawsuits launched against it. The costs of the current defamation lawsuit against Warren Kinsella are not paid by the Party but by Mr. Bernier himself.
In 2020, the Party also spent the following amounts on:
- Advertising = $45,226
- Travel = $32,454
- Office supply = $29,301
- Database = $40,382
- Telecommunications = $7,182
- Interest and bank charges = $28,338
- Rent = $19,284
The Party transferred $42,280 to candidates for the October 2020 by-elections in Toronto Centre and York Centre.
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 campaign in the fall of 2019, and does not have any debt. Thanks to the generosity of our donors, we finished the year 2020 with $431,635 in cash and cash equivalents. This will serve as a cushion for the snap election expected in the fall of 2021.
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
August 11, 2021* * *