Charting Change toward Greater Impact
2023-2024 Impact Report
A note from Pari: First, it has been an honour to step into leadership of this important national organization. I am grateful to our dedicated Board, members, staff and partners for the warm welcome. As a new President and CEO, change can be intimidating, but I’m hopeful and optimistic. I’m proud to have landed at CICan, working now with Canada’s largest postsecondary network. I have greatly valued my opportunity to listen and learn about members’ aspirations, needs and challenges at our Calgary conference, provincial college association meetings and through my cross-Canada outreach to 27 institutions in 7 provinces since my arrival in December.
We are delighted to present CICan’s Impact Report for 2023-24. In a year marked by change, the report reflects on our achievements, our challenges, and our lasting impact as a sector, both despite and because of the remarkable change we have been navigating.
For our sector, the past year has been marked by major pressures, with declining provincial funding and increasing labour market demands, all in the context of a very public national conversation on sustainable growth in international student numbers and global competition for talent and skills. Yet, there is an imperative for colleges to scale and connect institutional efforts to deliver on urgent national challenges.
We’ve made tremendous gains as an organization – which this past year, was named one of the National Capital Region’s Top Employers for the second year in a row – to position our work in a way that better serves our 138 members and ensures that our members are well positioned to support Canadians.
CICan’s vision is one where Canada’s publicly funded colleges and institutes are recognized as key partners in meeting our country’s biggest public policy challenges – like providing sustainable and affordable housing, ensuring food security, transitioning to clean energies, driving productivity and industrial transformation, and responding to the growing needs of the care economy.
Our network prepares nearly 800,000 learners in urban, rural, remote, and northern communities with more than 10,000 programs across all sectors, conducts more than 8,000 applied research projects annually, and adds over $190B to Canada’s economy each year.
As we celebrate the achievements of the past year, and with an eye to the changes coming ahead and the development of new strategic directions for CICan, let us think about the new ways we can collaborate that turn challenges into strengths and make our work as a sector more intentional, integrated, and impactful.
CICan is the national and international voice of Canada’s largest post-secondary education network. It advocates, builds capacity, and drives knowledge to strengthen Canada’s publicly supported colleges, institutes, CEGEPs, and polytechnics to meet Canada’s – and the world’s – biggest challenges. With more than 95% of Canadians living within 50 km of a member institution, and thanks to its extensive reach around the globe, CICan works to future-proof communities in Canada and abroad.
We respectfully acknowledge that CICan’s offices in Ottawa are located on the traditional and unceded territory of the Algonquin Anishinaabe Nation.
CICan was pleased to announce our recognition as one of the National Capital Region’s Top Employers for the second consecutive year. The designation recognizes the employers in the Ottawa-Gatineau metropolitan area that led their industries in offering exceptional places to work. The annual competition is led by organizers of Canada’s Top 100 Employers project, who evaluate employers on their ability and willingness to provide stable, foundational benefits, such as family-friendly and time-off policies.
The past year has been a whirlwind for CICan and the broader Canadian postsecondary landscape. With change becoming the new normal, CICan has reinforced its commitment to agility—a defining quality of the college and institute sector. This agility, both ours and the sector’s, has been particularly evident over the past year. Our goal has been to ensure colleges and institutes remain well-prepared and recognized as vital solution providers for Canada’s economic, environmental, and societal challenges.
Amid evolving external challenges such as Canada’s struggles with housing, productivity, and the escalating impacts of climate change, CICan itself underwent significant internal transformation. These external challenges and internal changes inspired us to navigate the year with a renewed spirit of adaptability and innovation. The key question we repeatedly asked ourselves: how can we turn these challenges into opportunities for greater impact? The answer emerged in the form of a renewed focus and shared purpose, marked by greater intentionality, integration, and impact.
Throughout this period of transformation, CICan engaged over 75% of its members across numerous projects. The conclusion of several key workforce development initiatives, such as Supporting Those Who Serve, Green Pathways for Small Communities, Skills Compass and Skills Enhancement for Newcomers in 2023-24, marked another significant change for the organization but allowed us the time to pause, reflect and refine ongoing efforts. If one thing remains unchanged, it’s our focus on fostering greater integration within our work to maximize impact.
We engaged in ongoing discussions with key federal departments, notably Immigration and Refugees and Citizenship of Canada (IRCC), to shape an approach that would better align international student outcomes with the availability of community and institutional support, labour market demands, and diversify the source countries of international students to enhance Canada’s global standing.
Throughout the latter half of the year, there was a sharpened public focus on the growing numbers of international students in Canada and its perceived impact on housing and affordability for all Canadians. In response, the Government of Canada announced its decision to implement a two-year cap on international student visas on January 22, 2024, and implement a system of provincial letters of attestation. CICan expressed our concerns about the cap and its rushed implementation via a formal response and an open letter to Marc Miller, the Minister of Immigration, highlighting its potential widespread and long-lasting consequences for both Canadian and international students and Canadian communities. Our new CEO, Pari Johnston, also penned an op-ed in the Toronto Star, emphasizing the urgent need to refocus public policy and federal-provincial discussions on sustainably funding Canada’s colleges and universities to drive the country’s long-term growth, productivity, and innovation.
In the face of unprecedented and sweeping changes to Canada’s approach to immigration policy, we were relentless in our support for members through constant advocacy, policy dialogue and resources to help the sector navigate this very challenging landscape. We held over twenty meetings with the government on immigration, shared IRCC study permit acceptance data with members for informed enrolment decisions, hosted member town halls to share information, worked to coordinate efforts with the regional college associations and other post-secondary education stakeholders, and met with the Minister at our November 2023 Board meeting and in February 2024.
Our priority: to ensure that the evolving international student policy framework remains accessible and inclusive and is reflective of college and institute realities and needs. This includes active member engagement, consultation and CICan input on the Recognized Institutions Framework (RIF), which IRCC announced in late 2023 with plans to launch the final feedback survey in late spring 2024. We have made similar efforts to inform and shape coming reforms to the Post-Graduate Work Permit program.
Over the year, CICan ramped up efforts to highlight the crucial role of colleges and institutes to Canada’s future and advocate for their continued success. Pari participated in a pre-budget roundtable on skills and innovation with Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, and addressed the House of Commons Standing Committee on Science and Research. She urged the federal government to reimagine the role of colleges and institutes in the broader research and innovation ecosystem. Despite their demonstrated expertise in driving impact, particularly in translating research into innovation, colleges and institutes receive only 2.9% of federal research funds. To maximize their potential in addressing national challenges such as housing and climate adaptation, the government, she argued, should adopt a challenge-driven research approach that centres the college and institute sector and provide scaled investments.
Internationally, we also focused on addressing key challenges related to workforce development, climate change, and energy transition in partner countries through college partnerships on education for employment. In alignment with our national efforts, we continue to champion the college and institute sector by actively contributing to UNESCO-UNEVOC and sharing educational resources including:
Our work promoting the public value of Technical and Vocational Education and Training (TVET) programs abroad is exemplified by our Young Africa Works in Kenya-TVET program Through our implementing partner, BBC Media Action, radio programs were developed in Kenya to raise awareness about the importance of TVET education and institutions to national workforce development. These efforts have led to a significant shift in perception and attitude among students and guardians, increasing enrolment rates.
The TVET program on Radio Kaya helped me decide to join Weru. I heard students and teachers being interviewed on the courses they were taking in the institution and college life there in general. I also learned that the institution was well-equipped which I didn’t know before. I became interested and applied to pursue Electrical Engineering. I also got to learn about financing opportunities such as Higher Education Leaners Board loans and how to benefit. I have since applied for the loan and now waiting for the approval. I enjoy going to school at Weru.
– Musa Hinzano, a 21-year-old student at Weru Technical Training Institute pursuing a Certificate in Electrical Engineering
We also secured new partnerships to support the green transition abroad, such as delivering avionics and electromobility (electric vehicles) training to a partner in Mexico through Centennial College. This initiative aims to inspire more students to pursue careers in these fields, fostering both workplace development and a response to climate change through the promotion of sustainable technologies and practices.
With Universities Canada, we launched the first 14 scholarship projects in 2024 through our Canadian International Development Scholarships (BCDI 2030) program designed to strengthen the social and economic development of women and men — particularly women — in 26 eligible francophone countries, Commonwealth countries and Small Island Developing States. Each scholarship means another student will have the opportunity to contribute to each of the principles behind the goals – including gender equality, human rights, and climate action – and lead change in their community.
Lastly, we launched a new approach to capture the impacts of our Education for Employment (EFE) projects, aiming to better document our work and share best practices. The EFE-Pacific Alliance and EFE-Tunisia Impact Stories are the first in our ongoing series of impact narratives.
Our 2023-2024 efforts delivered significant Budget wins, ensuring that colleges and institutes are at the forefront of addressing Canada’s urgent challenges and equipped with the resources necessary for success. Through strategic partnerships, our collaborative work resulted in pivotal achievements announced in the 2024 Federal Budget, including:
These advocacy milestones are a testament to our unwavering commitment to ensuring that Canada recognizes and harnesses the pivotal role of colleges and institutes in tackling challenges and driving economic growth.
$409M total value of CICan’s portfolio, $137M for Canadian programs and $272 for International Projects
Charting change involves thoroughly assessing the evolving landscape within our organization, the college and institute sector, and Canada. It involves identifying challenges and opportunities and adapting our strategies for greater impact. This reflective process has been central to CICan’s efforts over the past year.
Seeing how urgent it is to tackle Canada’s big challenges, CICan has been thinking hard about how colleges and institutes can take a lead role in collectively addressing them. As a result, we’ve been adapting our approach and integrating our policy and program portfolio to ensure they continue to meet the evolving needs of learners, communities and the country. While our reflection process continues, one thing is clear: colleges and institutes can and must be at the forefront of coordinated action for shared purpose.
Meanwhile, colleges and institutes, deeply rooted in communities with a proven track record of innovation and adaptability, have emerged as critical partners. Over the past year, our collective efforts have fostered a flurry of new partnerships and the implementation of innovative solutions. These initiatives aim to expediate the construction of student accommodations and tackle labour shortages in Canada’s home-building workforce.
The housing crisis has had a particularly stark impact on students, especially in urban centres where student housing shortages and exorbitant rents have become commonplace. In response, colleges and institutes have been building innovative partnerships with local developers and non-profit organizations to deliver tailored solutions for their communities. This includes redesigning existing spaces to expand on-campus housing and forming partnerships for affordable living spaces. Over 30% of our members are allocating more than $950 million to student housing projects, with 43% contemplating similar initiatives.
To showcase these efforts and advocate for greater support, CICan held several meetings with key government officials and ran a member-led advocacy campaign on National Housing Day to emphasize the crucial role of colleges and institutes in addressing Canada’s housing crisis.
In a very real sense, Canada’s housing challenge isn’t just about money; it’s also fundamentally about developing a workforce capable of meeting demand. Throughout 2023-24, CICan directed efforts toward tackling the worker shortage in skilled trades and boosting sector diversity by incentivizing the hiring of first-year apprentices and fostering inclusivity through financial incentives and resources.
In the context of national challenges related to housing availability and affordability, our Career Launcher Apprenticeships program contributed to a workforce capable of meeting demand. The program equipped businesses to embrace diverse talent, filling immediate skill gaps within the trades and laying the foundation for a more resilient and inclusive future. As a result, 417 new apprentices were hired, with 63% coming from underrepresented groups. Additionally, over 4,500 individuals accessed diversity workforce resources, and 253 businesses received funding to support their growth and resilience.
The program has provided tremendous support to our workforce development goals. Without it, I wouldn’t have been able to bring the apprentice on board. She has been a highly beneficial addition to our team.
– Ian Moniz, Owner, Moniz Contracting
As part of Career Launcher, CICan also introduced ApprenticeConnect, a bilingual platform created by our members to support apprentice recruitment, training, and retention for employers in the construction and manufacturing sectors. In addition to promoting a positive work culture that reduces burnout, injuries, and turnover, the toolkit supports the recruitment and development of workers from traditionally underrepresented groups in the skilled trades.
Beyond addressing the housing needs of students, colleges and institutes have been stepping up over the past year with innovative and sustainable solutions to address housing for all Canadians.
Our members are also actively contributing to building better homes. Their state-of-the-art training facilities and leading research centres collaborate with local businesses and industries to promote green building technologies and sustainable urban planning solutions. Moreover, they are driving the adoption of emerging technologies and cultivating innovation in sustainable construction practices, aiming not only to build better homes but to build better futures for people, communities and the planet. With over 4,557 planned infrastructure projects valued at $11 billion in the next five years, their impact is poised to make a significant impact.
CICan has been charting this change by ensuring our members are equipped to meet the evolving demands of Canada’s healthcare landscape. Our initiatives throughout the past year have helped members build a skilled workforce and address acute labour shortages in critical healthcare sectors.
Throughout 2023-24, CICan added 60 new innovative learning experiences to our unique Virtu-WIL (Virtual Work-Integrated Learning) collection of virtual simulations for healthcare education. In partnership with Simulation Canada, the program provides innovative, cost-effective, and scalable work-integrated learning opportunities.
With these new additions, educators and students across the country now have free access to over 185 simulations to enhance curriculum and learning in nursing, paramedicine, medical laboratory technologies and, sonography a new addition to the project. These simulations include a strong emphasis on equity, diversity and inclusion, ensuring accessibility to educators and leaners across Canada.
The simulation met my expectations of being effective, engaging, interactive, and easy to follow. It was very realistic. There is no doubt these simulations boosted my confidence and helped improve certain skills needed in a practical setting.
– Virtu-WIl participant
So far, over 6,000 students at more than 40 institutions have benefitted, increasing their clinical competencies, confidence, and readiness for work in healthcare settings.
Our Supportive Care Assistant program, a fully subsidized national microcredential developed through the collective expertise of our members, recently concluded. Delivered by over 25 institutions, this upskilling initiative successfully launched over 1,000 healthcare careers and provided crucial support to more than 400 facilities. The program is now an open educational resource and has been used in various contexts.
The program provided participants with an introduction to a new sector and potential new career path. It opened a door to students who previously faced barriers to attending a traditional post-secondary program. It’s always beneficial to have ongoing workforce development programs to deliver, as there is a need in our community for such programming. The added benefit of the upskilling initiative has been a boost to our college.
– Loyalist College, ON
CICan’s first National Occupational Standard for personal care providers also became widely available in 2023-24. Designed in response to the COVID-19 pandemic’s challenges such as labor shortages and skill gaps, this standard assists employers, job seekers, workers, students, and educators in making informed decisions regarding hiring, skills training, and career paths.
While working in the housekeeping field, I was contemplating getting a Health Care Aide certificate. I saw the Supportive Care Assistant program as the perfect opportunity to gain the necessary skills and knowledge to pursue my new career path.
– Arlyn Estolero, SCA Graduate
In response, CICan has been charting a new course for our climate action initiatives. We’ve been bolstering the work of our members to enhance green skills and literacy, help businesses and community organizations find innovative solutions to lower their carbon footprints and plan for sustainability and energy efficiency when building new infrastructure, both on and off campus. We’ve also been highlighting the role of colleges in driving climate-resilient infrastructure to Parliamentarians via the House of Commons Committee on Transportation, Infrastructure & Communities.
As part of our Green Pathways for Small Communities program, funded by Employment and Social Development Canada, our members collaborated with employers and community organizations in 14 rural, remote, and northern communities over the past year. Our members’ efforts focused on identifying skills gaps, enhancing green workforce planning, and developing tailored training to support the community’s transition towards a greener economy. Close collaboration with employers ensures they have the skilled workforce necessary to grow and remain competitive in emerging sectors.
Employee upskilling is vital for small-to-mid-size businesses to innovate and compete in remote areas with limited workforce options.
– Participating Employer
In 2023-24, thanks to funding from Environmental and Climate Change Canada, CICan launched a national initiative challenging our members to rally their students, staff, and faculty to deepen their understanding of greenhouse gas (GHG) emissions and the actionable steps we can take to combat climate change. The ImpAct-Climate Challenge rewarded student climate leaders and recognized institutions’ exceptional engagement and efforts to mobilize their communities toward sustainability.
The challenge engaged over 50 of our members. Eighty-two per cent of participants reported learning new information, and 90% felt inspired to integrate sustainable practices into their daily lives.
Alongside our members, CICan also recognized the urgent need to reevaluate our staff transportation habits and practices to reduce greenhouse gas (GHG) emissions. Through our green action plan, we identified programs, policies, and infrastructure improvements that will be monitored annually for progress.
While many members across the country are already taking action, we took it one step further by creating a guide to share valuable lessons from colleges and institutes across the country. The guide provides resources for members interested in promoting sustainable transportation on campuses and inspires them to implement successful initiatives from other Canadian campuses.
In September 2023, we officially wrapped up our Pacific Alliance (PA) Education for Employment Program. Through this program, CICan and its members worked with officials from 34 different ministries, secretariats and government agencies in Chile, Colombia, Mexico, and Peru to strengthen and train their staff on environmental sustainability issues. This led to improved natural resource management and biodiversity protection in the extractive sector.
And, with the World Federation of Colleges and Polytechnics (WFCP), CICan signed in April 2023 the World Congress Montreal Declaration, a global statement of sustainability, to reinforce and strengthen our commitment to building a more sustainable and equitable world. The declaration engages the two organizations and their members worldwide to maximize their collective impact on inclusive and equitable education and training that responds to future economic, environmental and social challenges.
In 2023-24, CICan worked with its members to help address Canada’s productivity challenges across several fronts.
Through college-applied research, our members’ unwavering dedication to working in partnership and fostering technology adoption and innovation among SMEs underscores the pivotal role colleges and institutes play in amplifying Canada’s economic productivity and competitiveness. College-applied research is unique in that the needs of the business drive it, intellectual property remains with the business partner for commercialization, and it delivers results rapidly, often within a year. During our last survey period, CICan members reported 8,820 research partners, 62% of which are private SMEs.
CICan’s support of our members’ applied research activity is crucial to their collective success. In 2023-24, we conducted over 50 meetings with government officials to advocate for college-led research and innovation, successfully securing temporary funding for College Centers for Technology Transfer (CCTTs) and Technology Access Centers (TACs) in collaboration with Tech-Access Canada and Synchronex.
We also hosted in February 2024 our national Applied Research Symposium, which drew over 150 participants from the college innovation sector. This event highlighted the significant growth in college and institute research impact, spanning critical areas such as housing construction, advanced manufacturing, climate-smart agriculture, and social innovation. It was made abundantly clear that this impact, relevance, and reach directly translate into tangible benefits for Canadians, nurturing long-term productivity and sustainability across Canadian industries. The symposium also provided a platform for college research leaders across the country to think creatively about solutions, find shared purpose, and reimagine Canada’s research and innovation programming through an impact lens.
We’re proud to share that the research intensity at colleges and institutes is increasing by nearly 30% each year. In real terms, this translates to more than 8,000 applied research projects in the 2021-2022 period. These partnerships amounted to 6,500 new processes, products, prototypes and services that resulted from these projects (80% of which were completed in less than a year).
This remarkable growth and breadth in college-led research activity has had a direct impact on the sustainability of Canadian SMEs, ensuring that they remain competitive and innovative. Through these efforts, and with CICan’s diligent work advocating for increased support and recognition at a national level, colleges and institutes are significantly contributing to enhancing the long-term productivity and economic health of Canada.
Enhancing productivity in Canada requires breaking down barriers to employment and education, particularly for equity-deserving groups. Recognizing this imperative, CICan brought together colleges and institutes over the past year through our Skills Compass initiative to help Indigenous and newcomer youth currently not in employment, education, or training (NEET) develop the skills and career readiness they need to return to school or prepare for a career.
Through Skills Compass, over 150 unemployed Indigenous and newcomer youth aged 18 to 30 received tailored education and skills training through our program, achieving an impressive 81% success rate. Seventy-one per cent of participants reported improvements in their life skills, enabling them to meet labour market needs and contribute to economic growth, and 59% of participants completed a Work Integrated Learning placement, gaining valuable hands-on experience to enhance their employability.
I shared my dream with my teachers of becoming a chef, and to create or modernize Indigenous recipes…I really do love the Skills Compass program. It provided an environment where I could create my goals and feel comfortable learning about my culture. I realized my full potential.
– Rayne Ryle-Coté, Red River College
The Skill Compass Curriculum Framework is a lasting resource to help colleges and institutes better tailor their programs to the unique needs of Indigenous and newcomer NEET youth students. The framework highlights key components that make programs relevant and accessible for NEET youth and serves as a guide to improve learning outcomes for more youth beyond the life of the program.
Newcomer integration into the workforce through targeted upskilling also addresses Canada’s productivity gap. Three thousand seven hundred immigrants benefited from CICan’s Planning for Canada‘s free pre-arrival services, which include valuable information to help newcomers clarify expectations and make informed decisions, personalized planning sessions with well-trained facilitators, and additional asynchronous online offerings.
Through Planning for Canada and [provincial placement partner], I was able to obtain helpful information about the immigration process, create a Canadian-style resume, receive information on prospective employers, and finally land a job as a Continuing Care Assistant.
– Romsty Santos, Santos immigrated to Canada from Japan in 2021.
Our Skills Enhancement for Newcomers program also helped newcomers to Canada develop the skills, knowledge, and practices unique to Canadian workplaces. The program introduced three new national microcredentials focused on Communication, Collaboration, and Adaptability to help nearly 950 newcomers enhance their existing professional and employability skills and ease their entry into the Canadian labour market.
In light of Canada’s productivity challenges, skill gaps and the increasingly global nature of work, it is more important than ever that Canadians are equipped with the right mix of job-related and global competencies. Our Global Skills Opportunities program gives Canadian post-secondary students – particularly those who are often underrepresented in post-secondary education – the opportunity to participate in international learning experiences where they gain skills like the ability to communicate well, collaborate with others, and adapt to changing circumstances.
As of March 31, 2024, just under 9,000 students improved their global skills and competencies through Global Skills Opportunity-funded international work or study experiences across more than 100 countries. Close to half of participants were from CICan member institutions and 75% identified as underrepresented students, including 12% who identified as Indigenous.
In November, GSO students were the highlight of our CICan on the Hill advocacy event, where attendees heard from the GSO participants to better understand the impact of those learning experiences on their lives. We continue our advocacy efforts to sustain the program beyond 2025.
In Tanzania, our work strengthening alternative pathways to education, employment, self-employment and entrepreneurship for women and adolescent girls continued through our Empowerment Through Skills Program (ESP). By enhancing the skills and capacities of women and girls, ESP directly increases their potential to contribute to future economic growth and productivity.
In particular, we are proud to have developed National Safeguarding Guidelines for Folk Development Colleges and Vocational Education Training Colleges in collaboration with the Tanzania Ministry of Education Science and Technology and consultation with Tanzania institutions. These guidelines outline how institutions can prioritize the safety and well-being of college students and trainees, particularly women, youth, and people with disabilities. They also help institutions create a gender-responsive enabling environment, thereby encouraging inclusive economic participation in the country.
We also shared a new Gender Policy Resource and Guiding Principles last year to support members in their international work and maximize our global investment in women. The policy supports the transformation of unequal power relations based on gender and other identities with the goal of achieving gender equality and inclusion in education, employment, and entrepreneurship.
Colleges and Institutes Canada
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING
The accompanying summarized financial statements of Colleges and Institutes Canada are the responsibility of management. They have been derived from the association’s complete financial statements which have been prepared in accordance with generally accepted accounting principles using information available to May 13, 2024, and management’s best estimates and judgements.
Management has developed and maintains a system of internal controls to provide reasonable assurance that all assets are safeguarded and to produce relevant, reliable and timely financial information, including the accompanying financial statements.
The Board of Directors discharges its duties relating to the financial statements primarily through the activities of its Audit Committee. The Audit Committee meets at least annually with management and the external auditors to review both the financial statements and the results of the audit examination with respect to the adequacy of internal accounting controls. The external auditors have unrestricted access to the Audit Committee. The Audit Committee also considers, for review by the Board of Directors, the engagement and re-appointment of external auditors.
The financial statements have been audited by Deloitte LLP on behalf of the membership. The Board of Directors met on May 23, 2024 and approved the financial statements.
Colleges and Institutes CanadaSummarized Statement of Financial PositionMarch 31, 2024, with comparative figures for 2023 |
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2024 |
2023 |
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Assets | ||||
Current Assets | $ | 51,559,412 | $ | 68,684,449 |
Investments | 2,903,600 | 2,825,129 | ||
Investments – Endowment Fund | 1,429,563 | 1,306,746 | ||
Capital Assets, net | 666,782 | 954,553 | ||
Intangible Assets | 16,102 | 36,981 | ||
$ | 56,575,459 | $ | 73,807,858 | |
Liabilities and Net Assets | ||||
Current liabilities | $ | 48,969,313 | $ | 67,838,583 |
Lease Inducements | 50,206 | 71,725 | ||
Net Assets | 7,555,940 | 5,897,550 | ||
$ | 56,575,459 | $ | 73,807,858 | |
Summarized Statement of OperationsYear ended March 31, 2024, with comparative figures for 2023 |
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2024 |
2023 |
|||
Revenue | ||||
Project Revenue | $ | 80,797,862 | $ | 59,124,274 |
Less: direct Project Expenses | 65,216,826 | 45,480,124 | ||
Net project contribution | 15,581,036 | 13,644,150 | ||
Membership fees | 3,745,070 | 3,569,282 | ||
Other | 630,883 | 498,937 | ||
$ | 19,956,989 | $ | 17,712,369 | |
Expenses | ||||
Human resources | $ | 15,623,581 | $ | 14,856,695 |
Amortization of capital assets | 391,030 | 381,947 | ||
Other | 2,406,805 | 2,023,171 | ||
$ | 18,421,416 | $ | 17,261,813 | |
Excess of revenue over expenses | ||||
$ | 1,535,573 | $ | 450,556 |
Our achievements this year were made possible by the unwavering support and contributions of our members, as well as our many partners in industry, government, and other associations in Canada and around the world who share our commitment and vision for fostering positive change in people’s lives, communities, and the planet.
Thank you also to the remarkable members of our Board of Directors, for sharing their strategic insights and guidance, their time, and knowledge. We’d also like to thank all the individuals involved in our various advisory committees whose input ensures we continue to meet the needs of our members.
Finally, thank you to the amazing staff of CICan for their continued hard work and dedication throughout these and changing times.