The IPC achieved a financial surplus despite the challenges of COVID-19 ©IPC

The International Paralympic Committee (IPC) has focused on claims that it has furthered the reach of the Paralympic Games, used Para sport to create an inclusive society and ended the year with a financial surplus in its annual report 2020-2021.

In a year impacted heavily by COVID-19, the report features several stories on how all levels of the Paralympic Movement adopted new ways of working.

The IPC assisted in having Tokyo 2020 broacast free-to-air in more than 30 countries in sub-Saharan Africa, with an estimated reach of 200 million people.

"In 2020, the pandemic meant the IPC and Paralympic Movement faced our biggest crisis to date," said IPC President Andrew Parsons.

"Yet through new ways of working and thinking, we continued to thrive as an organisation and as a Movement.

"I for one, have never been prouder to be President of the IPC and member of the Paralympic Movement.

"The pandemic and the decision to postpone Tokyo 2020 impacted everyone involved in the Paralympic Movement, none more so than the athlete community.

"Faced with the unique challenge of replanning Tokyo 2020, our relationship with the IOC grew stronger than ever with the pandemic bringing both organisations closer together. 

The postponed Tokyo 2020 Paralympic Games forced the IPC to cut its core department budgets by 20 per cent ©Getty Images
The postponed Tokyo 2020 Paralympic Games forced the IPC to cut its core department budgets by 20 per cent ©Getty Images

"The teamwork between IPC and IOC, as well as with Tokyo 2020, was extraordinary as a new blueprint for how to stage the world’s first and third biggest sport events during a pandemic was created from scratch.

"Thanks to a herculean effort by the whole team and cost-savings across the organisation, the IPC finished the financial year with a balanced budget achieved without the need for any external financial support, a tremendous achievement by all concerned."

Away from the coronavirus crisis, the report showcases the number of partnerships that the IPC has established to advance its focus on promoting human rights for people with disabilities.

The body signed a cooperation agreement with the International Disability Alliance (IDA) in a bid to use Para sport as a vehicle to advance the human rights agenda.

The report also mentioned that the IPC is in the process of developing a staregic plan for 2023-2026.

It will focus on establishing a more sustainable way to further Para sport.

The IPC posted a profit of €15,329 (£12,942/$17,711) over the 2020 financial year despite seeing a revenue decrease of 26.7 per cent compared to 2019.

Specific project revenue also declined by 91.3 per cent primarily because of the postponement of Tokyo 2020.

However, the IPC instructed all core departments to reduce their budgets by 20 per cent in anticipation of reduced revenues from the pandemic in order to achieve the surplus.

The report can be viwed here.