The federal Greens reported a record fundraising year in 2018, but because of increased wages still reported a loss in the year before an election, for the first time since 2005.

The Green Party of Canada’s annual financial report to Elections Canada shows it topped $3 million in contributions for the first time in a non-election year in 2018. The party made $3,226,579 in total revenue last year, but still fell short of breaking even by $79,167 because of expenses that surpassed $3.3 million.

Emily McMillan, the Green Party’s executive director, said the loss was strategic.

“The deficit was planned,” McMillan said in a statement. “In 2018 we embarked on a capacity building initiative to ramp up gradually to this year’s election. Those investments have now put us in an excellent position to mount a winning campaign this fall.”

READ MORE: Liberals post record fundraising numbers to end 2018, but trailed Conservatives by millions

In 2014, the year before the last federal election, the Greens finished the year with just under $3 million in donations, almost $3.5 million in total revenue and a profit of $945,128.

Compared to its 2014 figures, the party’s increased expenses are attributed to more than twice the cost in wages.

In 2014, the Greens paid $851,003 in wages, while last year wages cost the party $1,792,855 — more than half of the party’s total expenses. The party’s wages were also 36 per cent higher in 2018 than they were in 2017.

John Chenery, a spokesperson for the party, said it has “roughly double” the number of staff it had in 2014.

All other cost categories for 2018 were less than $100,000 more than the 2014 budget lines for the same items. In fact, the Greens spent more on three of their five most expensive items — transfers, professional fees and pre-election and election expenses — in 2014 than they did last year.

In recent months, the Greens have crept closer in popular opinion to the slumping and financially troubled NDP in public polls. The most recent Ekos Politics poll placed the Greens in third place, ahead of the NDP, but the most recent Nanos Research poll shows the Greens still in fourth place, and seven points down from the NDP.

July 2 was the deadline for parties to submit their reports to Elections Canada, but the NDP received an extension, meaning that their 2018 annual return will likely not be public for another two weeks. In the last two years, the NDP has posted deficits of $1.7 million and $3.1 million, respectively.

The Conservative Party of Canada reported a profit of $3.6 million in 2018, which is more than triple what the party’s profit was in 2014.

The Liberal Party of Canada reported a profit of just $4,417 last year. The Liberals had a deficit of $343,051 the year before the last election.

Follow @CharliePinkerto