Craig Stocking, Treasurer

Lawrence Tam, Director of Finance

 

We are pleased to report ISSofBC’s financial performance for the fiscal year that ended March 31, 2022.

Global factors, including the ongoing pandemic and the unplanned arrival of Afghan refugees, impacted service delivery and financial management across our sector. We acknowledge our staff’s resilience and skill in managing changes with such success and thank our core stakeholders and funders for their support and flexibility.

Our year-end revenue and expense position was virtually balanced, with revenue growth of 26% following a 9% decline in the previous year. We continue to carefully manage the Society’s contingency and reserve fund, providing the basis for a new three-year strategic plan recently approved by the Board that prioritizes several capacity building opportunities to enable us to better support our clients.

The Society’s financial management and strategy serves as a platform for extending and deepening our mission impact, and in the last year we continued to achieve that goal as we balanced demands and priorities.