2009 Party Annual Finance Reports Released
Elections BC released all of the registered political parties 2009 annual financing reports today. The Conservative party failed to file on time – they have until June 30 (and a $100 fine) to file, otherwise they risk de-registration. I will summarize the financial data for the BC Liberal, NDP and Green Party. I’d appreciate attribution if you found the information in this analysis to be useful.
BC Liberals:
The BC Liberals spent about $16.6 million in 2009 (net of transfers). They raised $12.3 million from contributors, and have incurred $4.9 million in debt at the end of the year. They are receiving a rate of prime plus 2.25% which is currently 4.5%.
Individuals contributed 21% of the BC Liberal revenues, while corporations contributed 64% of the revenues.
NDP:
The NDP spent $9.4 million in 2009 (net of transfers). They raised $6.9 million from contributors, and ended the year with $2.2 million in debt. They are receiving a rate of between 3.25% to 4.5% on multiple loans.
Individuals contributed 63% of the NDP revenues, while trade unions contributed 32% of the revenues.
Green:
The Green party spent and raised about $190,000 in 2009. They incurred no debt at the end of the year.
Individuals contributed 94% of the revenues.
Summary thoughts:
The largest line-item entry is the amount of bank debt the BC Liberal party has incurred after the election. They have about a $4.9 million debt at the end of 2009. At their current level of debt, this will result in an interest bite of about $220,000/year, and this will rise later in the year when the Bank of Canada will raise rates.
It is always surprising to know the NDP manages to get a lower rate of interest on their bank debt.
The split of where revenues are coming from is surprising – most people have the impression that the NDP is funded by union donations, but they are funded 2/3rds by individual donors. The union donors are about a quarter of the revenues. The BC Liberal party, on the other hand, are 2/3rds funded by corporate donors, which corresponds to the public perception. Individual donors to the BC Liberal contribute about a fifth of their revenues.
The BC Liberal party, in general, was able to substantially fund all ridings the maximum amount of spending allowed in the election campaign – 85 ridings times $70,000 is $5.95 million. The NDP were able to sufficiently fund winnable seats, but safe BC Liberal seats were dramatically underfunded.
The Green Party raised a modest amount, but they are still not at the critical mass where they can maintain a full-time staff for party purposes. They did manage to end the year debt-free, presumably because no financial institution would want to lend them a substantial sum of money for election purposes.
Data tables:
The following are tables that outline the two-year summaries from the major parties. Please note the categories might have slight differences between 2008 and 2009, and there may be some minor transcription errors.
BC Liberals:
| Party | BC Liberal | BC Liberal |
| Year | 2008 | 2009 |
| Current Assets | $ 1,019,817 | $ 454,840 |
| Fixed Assets | $ 565,322 | $ 498,396 |
| Total Assets | $ 1,585,139 | $ 953,236 |
| Current Liabilities | $ 1,307,714 | $ 2,654,705 |
| Long-Term Liabilities | $ 21,130 | $ 2,807,018 |
| Total Liabilities | $ 1,328,844 | $ 5,461,723 |
| Equity | $ 256,295 | $ (4,508,487) |
| Info: Current Debt | $ - | $ 2,154,000 |
| Info: Long-dated Debt | $ - | $ 2,777,000 |
| Info: Rates | Prime+2.25% | |
| Revenues | ||
| Political Contributions | $ 7,880,200 | $ 11,980,418 |
| Gross Fundraising Revenues | $ 334,889 | $ 299,379 |
| Total Transfers Received | $ 5,590 | $ 1,020,830 |
| Interest Income | $ 12,547 | $ - |
| Product Sales | $ 419 | $ 3,158 |
| Advertising Income | $ - | $ - |
| Rental Income | $ - | $ - |
| Other Income | $ (7,040) | $ (18,510) |
| Total Revenues | $ 8,226,605 | $ 13,285,275 |
| Expenses | ||
| Account and Audit | $ 43,318 | $ 43,771 |
| Amortization | $ 191,300 | $ 196,013 |
| Bad Debt | $ - | $ - |
| Bank Charges | $ 103,805 | $ 161,784 |
| Donations and Gifts | $ - | $ - |
| Convention, Workshop, Meeting | $ 634,771 | $ 94,744 |
| Data Processing / IT | $ 86,129 | $ 226,315 |
| Furniture / Equipment | $ 4,680 | $ 50,047 |
| Insurance | $ 10,051 | $ 13,520 |
| Interest Expense | $ 31,637 | $ 150,388 |
| Media Advertising | $ 866,508 | $ 428,735 |
| Newsletters / Promotional | $ 68,782 | $ 21,131 |
| Office Rent / Utilities | $ 193,819 | $ 261,027 |
| Office Supplies / Stationary | $ 71,999 | $ 33,058 |
| Postage / Courier | $ 34,270 | $ 36,252 |
| Printing | $ - | $ - |
| Professional Services | $ 242,103 | $ 310,236 |
| Research and Polling | $ 617,692 | $ 280,280 |
| Salaries and Benefits | $ 1,778,206 | $ 1,503,279 |
| Social Functions | $ 27,995 | $ 19,819 |
| Subscriptions | $ 6,357 | $ 4,204 |
| Telecommunications | $ 231,317 | $ 213,023 |
| Travel | $ 466,270 | $ 289,424 |
| Utilities & maintenance | $ - | $ - |
| Cost of Fundraising | $ 1,227,541 | $ 994,954 |
| Transfers Out | $ 218,184 | $ 6,155,394 |
| Other Expenses | $ 1,320,814 | $ 6,160,456 |
| Total Expenses | $ 8,477,548 | $ 17,647,854 |
| Surplus/Deficit | $ (250,943) | $ (4,362,579) |
| Donors | ||
| Individual <= $250 | $ 432,527 | $ 468,027 |
| Individual > $250 | $ 1,905,658 | $ 2,093,626 |
| Corporate <= $250 | $ 41,317 | $ 85,573 |
| Corporate > $250 | $ 4,667,007 | $ 7,592,114 |
| Unincorporated <= $250 | $ 8,778 | $ 13,479 |
| Unincorporated > $250 | $ 480,728 | $ 954,135 |
| Trade Unions <= $250 | $ - | $ - |
| Trade Unions > $250 | $ 3,040 | $ 30,120 |
| Non-Profit Org. <= $250 | $ - | $ - |
| Non-Profit Org. > $250 | $ - | $ - |
| Other <= $250 | $ 1,675 | $ 1,660 |
| Other > $250 | $ 329,470 | $ 731,684 |
NDP:
| Party | NDP | NDP |
| Year | 2008 | 2009 |
| Current Assets | $ 538,003 | $ 247,082 |
| Fixed Assets | $ 1,511,302 | $ 1,550,498 |
| Total Assets | $ 2,049,306 | $ 1,797,580 |
| Current Liabilities | $ 260,544 | $ 936,288 |
| Long-Term Liabilities | $ 775,144 | $ 2,231,986 |
| Total Liabilities | $ 1,035,688 | $ 3,168,275 |
| Equity | $ 1,013,617 | $ (1,370,694) |
| Info: Current Debt | $ - | $ - |
| Info: Long-dated Debt | $ 624,468 | $ 2,231,986 |
| Info: Rates | 5.4% | 3.25% to 4.50% |
| Revenues | ||
| Political Contributions | $ 2,869,389 | $ 6,712,354 |
| Gross Fundraising Revenues | $ 116,253 | $ 183,342 |
| Total Transfers Received | $ 22,147 | $ 64,135 |
| Interest Income | $ 1,512 | $ 6 |
| Product Sales | $ 2,016 | $ 3,085 |
| Advertising Income | $ 19,918 | $ 39,336 |
| Rental Income | $ - | $ - |
| Other Income | $ 106,032 | $ 100,111 |
| Total Revenues | $ 3,137,267 | $ 7,102,370 |
| Expenses | ||
| Account and Audit | $ 65,984 | $ 78,870 |
| Amortization | $ 68,683 | $ 89,283 |
| Bad Debt | $ - | $ 2,079 |
| Bank Charges | $ 23,865 | $ 64,396 |
| Donations and Gifts | $ - | $ - |
| Convention, Workshop, Meeting | $ 173,260 | $ 319,191 |
| Data Processing / IT | $ - | $ 96,326 |
| Furniture / Equipment | $ 2,403 | $ 22,276 |
| Insurance | $ 6,210 | $ 6,576 |
| Interest Expense | $ 32,442 | $ 73,801 |
| Media Advertising | $ 56,208 | $ 1,988,587 |
| Newsletters / Promotional | $ 13,775 | $ 357,389 |
| Office Rent / Utilities | $ - | $ 68,266 |
| Office Supplies / Stationary | $ 75,370 | $ 51,697 |
| Postage / Courier | $ 89,002 | $ 38,294 |
| Printing | $ 92,116 | $ - |
| Professional Services | $ 76,371 | $ 100,466 |
| Research and Polling | $ 182,676 | $ 323,735 |
| Salaries and Benefits | $ 1,396,601 | $ 2,366,141 |
| Social Functions | $ 4,606 | $ 15,689 |
| Subscriptions | $ - | $ - |
| Telecommunications | $ 44,673 | $ 82,136 |
| Travel | $ 85,098 | $ 574,275 |
| Utilities & maintenance | $ 60,819 | $ - |
| Cost of Fundraising | $ 185,942 | $ 315,805 |
| Transfers Out | $ 495,448 | $ 2,337,675 |
| Other Expenses | $ 67,121 | $ 113,727 |
| Total Expenses | $ 3,298,672 | $ 9,486,681 |
| Surplus/Deficit | $ (161,405) | $ (2,384,312) |
| Donors | ||
| Individual <= $250 | $ 1,229,979 | $ 1,704,315 |
| Individual > $250 | $ 1,057,957 | $ 2,548,173 |
| Corporate <= $250 | $ 6,175 | $ 16,823 |
| Corporate > $250 | $ 32,400 | $ 238,838 |
| Unincorporated <= $250 | $ 500 | $ 1,286 |
| Unincorporated > $250 | $ 1,450 | $ 11,485 |
| Trade Unions <= $250 | $ 2,660 | $ 4,480 |
| Trade Unions > $250 | $ 524,585 | $ 2,170,457 |
| Non-Profit Org. <= $250 | $ 75 | $ 1,150 |
| Non-Profit Org. > $250 | $ 6,100 | $ 9,100 |
| Other <= $250 | $ 220 | $ 200 |
| Other > $250 | $ 1,500 | $ 500 |
Green:
| Party | Green | Green |
| Year | 2008 | 2009 |
| Current Assets | $ 28,139 | $ 31,322 |
| Fixed Assets | $ 985 | $ - |
| Total Assets | $ 29,125 | $ 31,322 |
| Current Liabilities | $ 2,022 | $ 500 |
| Long-Term Liabilities | $ 1,550 | $ - |
| Total Liabilities | $ 3,572 | $ 500 |
| Equity | $ 25,553 | $ 30,822 |
| Info: Current Debt | $ - | $ - |
| Info: Long-dated Debt | $ - | $ - |
| Info: Rates | ||
| Revenues | ||
| Political Contributions | $ 145,928 | $ 181,240 |
| Gross Fundraising Revenues | $ 1,330 | $ 1,396 |
| Total Transfers Received | $ 18,672 | $ 10,828 |
| Interest Income | $ 18 | $ 18 |
| Product Sales | $ 23 | $ 75 |
| Advertising Income | $ - | $ - |
| Rental Income | $ - | $ - |
| Other Income | $ 1,003 | $ 6 |
| Total Revenues | $ 166,974 | $ 193,563 |
| Expenses | ||
| Account and Audit | $ 12,718 | $ 17,588 |
| Amortization | $ 985 | |
| Bad Debt | $ - | |
| Bank Charges | $ 747 | $ 565 |
| Donations and Gifts | $ 85 | $ 60 |
| Convention, Workshop, Meeting | $ 8,727 | $ 7,322 |
| Data Processing / IT | $ 3,268 | $ 3,420 |
| Furniture / Equipment | $ 1,885 | $ 538 |
| Insurance | $ 1,400 | $ 1,550 |
| Interest Expense | $ 815 | $ 145 |
| Media Advertising | $ 370 | $ 4,675 |
| Newsletters / Promotional | $ 1,676 | $ 7,308 |
| Office Rent / Utilities | $ 11,369 | $ 11,589 |
| Office Supplies / Stationary | $ 8,548 | $ 2,889 |
| Postage / Courier | $ 5,354 | $ 7,040 |
| Printing | $ - | $ - |
| Professional Services | $ 28,556 | $ 27,009 |
| Research and Polling | $ 20 | $ - |
| Salaries and Benefits | $ 21,194 | $ 31,440 |
| Social Functions | $ 1,593 | |
| Subscriptions | $ - | |
| Telecommunications | $ 11,614 | $ 13,360 |
| Travel | $ 5,508 | $ 19,943 |
| Utilities & maintenance | $ - | $ - |
| Cost of Fundraising | $ 614 | $ 500 |
| Transfers Out | $ 305 | $ 26,726 |
| Other Expenses | $ 4,866 | $ 1,050 |
| Total Expenses | $ 129,641 | $ 187,294 |
| Surplus/Deficit | $ 37,333 | $ 6,269 |
| Donors | ||
| Individual <= $250 | $ 74,365 | $ 83,508 |
| Individual > $250 | $ 67,163 | $ 87,332 |
| Corporate <= $250 | $ 400 | $ 470 |
| Corporate > $250 | $ 3,930 | $ 9,930 |
| Unincorporated <= $250 | $ - | $ - |
| Unincorporated > $250 | $ - | $ - |
| Trade Unions <= $250 | $ - | $ - |
| Trade Unions > $250 | $ - | $ - |
| Non-Profit Org. <= $250 | $ - | $ - |
| Non-Profit Org. > $250 | $ - | $ - |
| Other <= $250 | $ - | $ - |
| Other > $250 | $ - | $ - |
(April 12, 2010 @ 13:20):
On the 2009 Electoral Finance Reports, it appears the BC Campbell Liberals run there provincial Political Party, like they run our beautiful Province, IN DEBT! $ 4.9 Million in Debt. I wonder who or what entity is securing the BC Liberal debt with the banks that hold the Liberal paper.
We no what happened in Quebec, with Federal taxpayers monies, at the hand of the Federal Chretien Liberals. I’d watch these BC Campbell Liberals like a hawk. A $ 4.9 million dollar debt, is a whole lot of money when your an unpopular political party and dropping like a rock in the polls every day. Another reason for election reform and more stringant regulations, that of reducing limits on electoral per candidate financing and restrictions on over the top borrowing and political parties allowable monetary debt.
Alan Clarke
(November 24, 2011 @ 16:00):
BC Liberals need to make public their corporate donor list. I believe I am the victim or corporate influence peddling. Governement agencies have been instructed to ignore the law, to the benefit of a private corporation and to our loss. I wish to know how man dollars the liberal party recieves from corporations.