Financial Highlights

Message from the Treasurer and Vice-President, Finance and Operations

In a year that continued to present challenges related to the pandemic, we received tremendous support from our donors and government partners. With a combined investment of more than $33.9 million, our supporters have demonstrated their confidence in the power of the Pathways Program and the essential role it plays for youth living in low-income communities. Thanks to this generous response, Pathways Canada has maintained a positive financial outlook.

In FY2022, we spent 85 per cent of funds in areas directly impacting students and their families. Grants to Pathways Program Partners—which provide academic, financial, social, and one-on-one supports to Pathways students—totalled $19.5 million, with an additional $2.1 million spent on student scholarships.

We remain committed to innovation to reach more young people across the country. We continued to invest in alternative program delivery models and increased effectiveness by leveraging new technology and processes to help keep youth connected to their education. Our total investment in program growth, expansion, and innovation increased in FY2022 to $5.5 million.

Our strong financial results from the past year have also resulted in a surplus, which has allowed us to contribute $1.2 million to reserve funding. As we look to sustainability and growth in a post-pandemic world, this reserve funding will help ensure the program's short- and mid-term sustainability and support our continued investment in innovation. This funding comes at a critical time for Pathways youth. Pathways makes a 3- to 5-year commitment to students in the Pathways Program, and we know that in the months and years ahead, they will face even more significant barriers to success that will require increased support to ensure they stay connected to their education.

As always, we remain committed to providing our stakeholders with transparent, evidence-driven results. We have a strong, independent Audit, Investment, and Risk Committee whose key responsibilities include oversight of the financial audit, budgets, investments, and risk management.

Despite the ongoing impacts of the pandemic this past fiscal year, our prudent financial management provided stability both for our staff and Program Partners. We remain committed to stewarding the financial resources entrusted to us, growing the organization's financial health, and expanding the available opportunities to serve more youth. We are deeply grateful for your continued support, which allows us to reach more young people and help them build the foundation for a brighter future.