The Georgian Peaks Ski Club— one of Canada's most exclusive private clubs, with an initiation fee of $43,000 — has had much more to celebrate this season, including an unprecedented surge in new members and the opening of a "state of the art" $13-million lodge.
Not to mention $1.37 million in taxpayer-supplied federal COVID relief, which helped propel the club to a $1.54-million budget surplus, three times greater than the year before.
Financial statements for the fiscal year ending May 31, 2021, obtained by CBC News show that Georgian Peaks received $1.203 million under the Canada Emergency Wage Subsidy (CEWS) and a further $166,885 from the Canada Emergency Rent Subsidy (CERS).
Overall, the club, which enjoys not-for-profit tax status, reported $7.948 million in revenue against $4.741 million in expenses.
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