OFA President Drew Spoelstra. (Nelson Zandbergen photo).
James Pascual
Farmers Forum
TORONTO — Ontario’s largest farm organization completed its 10th stellar year in a row with a handsome profit.
The Ontario Federation of Agriculture recorded a profit of $1.286 million for its 2024-2025 fiscal year ending August 31. As a non-profit, the OFA does not pay income tax. Non-profit organizations are allowed to earn tax-free profits provided that they were earned through the normal activity of the organization and can be considered a cushion to cover operating expenses for up to six months in the event of disaster or unforeseen risks.
For its year ending August 31, 2025, the OFA reported gross revenue of $12.021 million and an after expenses profit of $1.286 million, down from a record-high profit of $1.83 million two years ago.
These are glory days compared to 11 years ago when the farm support and lobby group was in the hole with an operating loss of $7,895.
The lion’s share of the gross revenue for 2024-2025 was $9.65 million from membership fees. The OFA has 38,299 farm business memberships. Each annual family or farm membership is $255 + HST. To be eligible for membership a farmer must earn a minimum gross income of $7,000.
The OFA also reported total net assets of $23.8 million, including its 12,900 sq. ft. two-storey office building in Guelph.
In previous years, the OFA was specific about which companies it invested in but this year listed simply that it holds investments in mutual funds, Canadian equities and foreign equities at a total value of about $10.84 million.
For the 2022-2023 year, the OFA was more specific, listing investments in the Co-operators Group (shares valued at $3.75 million), Bombardier (shares valued at $795,532), Royal Bank of Canada (bonds valued at $794,228), Bank of Montreal (bonds valued at $648,371) and TC Energy Corp (shares valued at $508,252).
The OFA has 45 full-time employees and 1 part-time employee.
The OFA reported operating expenses of $10.74 million. Its 10 biggest expenses were:
- Field services: $1.795 million
- Finance and administration: $1.6 million
- County funding: $1.34 million
- Farm policy research group: $1.27 million
- Communications: $803,301
- Board of directors: $566,223 (Up from $470,000 three years ago but down slightly from last year.) The OFA pays $300 per diem ($400 per diem for the president) and 64 cents per kilometre for mileage.
- Overhead: $469,885
- Convention: $455,181 (up from $326,448 two years ago)
- Executive members: $335,918 (down from $366,923 last year)
- Canadian Federation of Agriculture: $349,301
The OFA’s annual report was to be presented at the organization’s annual general meeting in Toronto on Nov. 26 at the Delta-Marriot Airport Hotel in Toronto.
Ontario farms must sign up with one of three government-recognized farm organizations. After signing up with OFA, 822 farm members requested a refund. The other two organizations are the Christian Farmers Federation of Ontario, representing more than 4,000 farm families, and the National Farmers Union with about 1,400 families and individuals.
