Financial Reports

2024 Fiscal Year

Lazer Grant LLP Chartered Professional Accountants have conducted the annual audit and presented the financial statements for the fiscal year ended December 31, 2024. The audited financial statements were prepared in accordance with the Canadian accounting standards for not-for-profit organizations (ASNPO).

wdt_ID	2024 Summary	Amount
1	Core revenue	$4.86 million
2	Other program revenue	$11.40 million
3	Coordinated program revenue	$1.76 million
4	Total Revenues	$18.02 million
5
6	Program expenditures	$16.27 million
7	Coordinated program expenditures	$1.76 million
8	Total Expenditures	$18.03 million
9
10	(Deficiency) of revenues over expenditures	($6,200)

Summary of revenue

Revenue consists of core funding, other program revenues and Coordinated Programs revenues.

Core funding is an agreed amount of funding by sector, and affiliate membership fees.
Otherprogram revenue is sourced by the Federal and Provincial Governments, grower organizations, corporate sponsors, and service fees to fund specific projects and activities.
Coordinated Programs are administered by the Canola Council. Coordinated Programs include the Canola Digest and Canola Agronomic Research Program.

2024 revenues – $18.02 million

wdt_ID	Source	2024	2023
1	Core Revenue	$4,861,285	$5,361,223
2	Other Program Revenues	$11,403,086	$6,066,340
3	Coordinated Programs Revenue	$1,755,590	$1,860,921
4	TOTAL REVENUES	$18,019,961	$13,288,484

2024 Fiscal Year, Canola Council of Canada, Revenues Chart

2024 core revenues – $4.86 million

wdt_ID	Sector	2024	2023
1	Exporter and processor assessment	$1,823,302	$2,011,598
2	Provincial grower groups' assessment	$2,333,967	$2,575,000
3	Life science companies' assessment	$684,328	$750,000
4	Affiliate memberships	$19,688	$24,625
5	Total Core Revenue	$4,861,285	$5,361,223

2024 Fiscal Year, Canola Council of Canada, Total Core Revenue

Use of core revenue and surplus – by pillar – $4.87 million

wdt_ID	Pillar	2024	2023
1	Industry leadership	$1,724,756	$1,755,302
2	Utilization	$423,522	$428,231
3	Sustainable supply	$1,934,205	$2,084,184
4	Public Affairs	$785,039	$763,163
5	Total Use of Core Revenue	$4,867,522	$5,030,880

2024 Fiscal Year, Canola Council of Canada, Total Use of Core Revenue

Other program revenues – $11.40 million

wdt_ID	Source	2024	2023
1	Federal funding – On-Farm Climate Action Fund	$7,116,662	$3,258,609
2	Federal funding - AMP	$863,475	$781,650
3	Federal funding - Research Cluster	$1,683,790	$351,771
4	Grower agronomy Funding	$331,430	$492,281
5	Investment interest	$394,639	327,175
6	Research	$404,095	$239,167
7	Corporate Sponsors	$203,418	$236,493
8	Service fees	$122,429	$125,334
9	Research & knowledge transfer	$186,015	$124,012
10	Annual convention	$95,466	$107,150
11	Leasehold improvement allowance	$0	$21,031
12	Provincial Funding	$1,667	$1,667
13	Total Other Program Revenue	$11,403,086	$6,066,340

2024 Fiscal Year, Canola Council of Canada, Other Program Revenues

Coordinated programs – $1.76 million – revenues and expenditures

wdt_ID	Program	2024	2023
1	Canola Agronomic Research Program	$1,463,253	$1,476,760
2	Canola Digest	$292,3360	$384,160
3	Total Coordinated Programs	$1,755,590	$1,860,921

Coordinated Programs are administered by the Canola Council and funded by the following organizations:

wdt_ID	Program	Funded By
1	Canola Agronomic Research Program	Alberta Canola, SaskCanola and Manitoba Canola Growers Association. *WGRF co-funds a portion of the CARP program in addition to the funding administered by the Council.
2	Canola Digest	Alberta, Saskatchewan, and Manitoba producer organizations, Agriculture & Agri-Food Canada (Science issue).

Expenditures – $18.03 million

wdt_ID	Category	2024	2023
1	Program Expenditures	$16,270,609	$11,097,220
2	Coordinated Programs Expenditures	$1,755,590	$1,860,921
4	Total Expenditures	$18,026,199	$12,958,141

Detailed expenditures

wdt_ID	Category	2024	2023
1	Salaries	$2,927,127	$2,974,581
2	Research Cluster	$2,553,031	$1,270,396
4	On-Farm Climate Action Fund	$7,116,662	$3,258,609
5	Agronomy specialists - operating costs	$341,575	$401,507
6	Consulting fees	$223,184	$127,222
7	Research and knowledge transfer	$166,717	$146,699
8	Market Access	$924,420	$862,934
9	Annual convention	$161,834	$182,024
10	Website maintenance	$19,943	$19,971
11	Member communications	$98,187	$94,145
12	Board of Directors' meetings and expenditures	$35,606	$86,353
13	Utilization	$804,583	$739,729
14	Travel	$128,882	$219,102
15	Overhead	$417,436	$379,975
16	Administration	$98,447	$94,906
17	Memberships & subscriptions	$244,655	$230,398
18	Sponsorships	$8,320	$8,669
19	Coordinated Programs	$1,755,590	$1,860,921
20	Total Expenditures	$18,026,199	$12,958,141

2024 Fiscal Year, Canola Council of Canada, Total Expenditures

Co-sponsored Programs

Research Cluster
Agri-Marketing Program
On-Farm Climate Action Fund

For the year ended December 31, 2024, 56% (2023 – 35%) of total revenues and 63% (2023 – 47%) of total expenses are related to these co-sponsored programs..

wdt_ID	Research Cluster	2024	2023
1	Revenue:
2	AAFC	$1,683,790	$351,772
5	Provincial Grower Groups	$382,466	$233,667
4	Other Industry	$21,629	$5,500
6	Total Revenue	$2,087,885	$590,939
7
8	Expenditures:	$2,553,031	$1,270,396
9
10	Use of Core Funds	$465,146	$679,457

wdt_ID	Agri-Marketing Program	2024	2023
1	Revenue:
2	AAFC – Utilization	$410,526	$352,139
5	AAFC - Market Access	$452,949	$429,511
4	Other Industry	$24,151	$43,893
6	Total Revenue	$887,626	$825,543
7
8	Expenditures:
9	Utilization	$778,292	$723,861
10	Market Access	$831,671	$843,935
11	Total Expenditures	$1,609,963	$1,567,796
12
13	Use of Core Funds	$722,337	$742,253

wdt_ID	On-Farm Climate Action Fund	2024	2023
1	Revenue:
2	AAFC	$7,116,662	$3,258,609
5	Expenditures:
4	Program Expenditures	$7,116,662	$3,258,609
6
7	Use of Core Funds	$0	$0

For the year ended December 31, 2024, the Council exceeded its 2024 surplus requirement by $1,389,297.

wdt_ID	Surplus Requirement	2024
1	Closure surplus policy requirement for 2024	$1,804,875
5	Revenue Stabilization surplus policy requirement for 2024	2,680,612
6	2024 Surplus requirement:	$4,485,487
7
9	Accumulated surplus, December 31, 2023	$5,881,021
10	2024 – (deficiency) of revenues over expenses	(6,237)
11	Accumulated surplus, December 31, 2024	$5,874,784
12
13	Excess over surplus requirement - December 31, 2024	$1,389,297