Financial Highlights & Analysis
Financial highlights & analysis
The total spending for 2023-24 was CAD $52.8 million, compared to last year’s total spending of $50.9 million. The increase in spending of $1.9 million was mainly due to an increase in program expenses.
Grand Challenges Canada continues to receive funding from diverse revenue sources.
For the fiscal year that ended on March 31, 2024, 39% of total revenues were from sources other than Global Affairs Canada. We continue to work to maintain a diversity of funding sources.
Net assets increased over the past year, primarily due to increase in unrealized-mark-to-market gains on the investments of Operating reserves, inflow of unrestricted reflows and some interest on reflows.
View the latest audited financial statements on our website.
Revenues
*Other funders include: U.S. Agency for International Development’s Office of U.S. Foreign Disaster Assistance, Foreign, Commonwealth & Development Office – UK, The LEGO Foundation, Stiftung Axilium, Bill & Melinda Gates Foundation, Dutch Government Stabilisation and Humanitarian Aid Department, Women and Gender Equality Canada, Indigenous Services Canada, Seamont Foundation, U.K. Department of Health and Social Care, Department of Health and Social Care – Global Mental Health-Being, Fondation Botnar and World Organisation for Animal Health (IOE).
** Revenue includes other revenue from non-grant project loan repayments in fiscal year 2023-24.
Expenditures
Organizational expenditures
In FY 2023-24, 92% of Grand Challenges Canada's organizational expenditures were on program activities. The remaining 8% went to corporate and administrative expenditures.
Program expenditures
In FY 2023-24, Grand Challenges Canada's program expenditures included:
