The IPC recorded a large revenue increase in its 2021-2022 annual report ©IPC

The International Paralympic Committee (IPC) has claimed to have recorded strong revenues, delivered on the commitments to its members despite COVID-19 challenges, and laid stronger foundations for its future in its 2021-2022 annual report.

The IPC's revenues for the 2021 financial year almost tripled compared to the previous year, increasing from €19.2 million (£16.8 million/$20.4 million) to €53.4 million (£46.9 million/$56.8 million).

This has been put down to the Tokyo Broadcast project where the IPC was responsible for broadcast sales and production for the 2020 Paralympic Games in the Japanese capital.

The IPC has stated that it was a one-off project that will not be repeated in the future because, despite it accounting for 54 per cent of all 2021 revenue, it was also responsible for 54 per cent of all expenses.

The net profit for the €28.6 million (£25.1 million/$30.4 million) project was just €287,079 (£252,000/$305,300).

"Within a 12-month period, we delivered the Tokyo 2020 Paralympic Games in the most challenging circumstances, launched the world’s biggest human rights movement to represent persons with disabilities, and received overwhelming approval for a new constitution that ensures the IPC’s governance structures are world leading," said IPC President Andrew Parsons.

"We continued preparations for the Beijing 2022 Paralympic Winter Games, strengthened our working relationship with the International Olympic Committee, and staged a first ever online General Assembly where members elected the most athlete-focused and gender-balanced Governing Board in history.

IPC President Andrew Parsons has praised the organisation's staff for a
IPC President Andrew Parsons has praised the organisation's staff for a "monumental team effort" in the Annual Report ©IPC

"It was an extremely hard but rewarding year, which ensured the IPC’s purpose grew in strength and relevance globally."

The Tokyo 2020 Paralympic Games are a key focus of the Annual Report and the city's Governor Yuriko Koike considered the impact of the event on generations to come.

"Our mission is to build upon the legacy borne from the Games and create a future Tokyo that is brimming with diversity and inclusion," she said.

The IPC also launched WeThe15, which aims to be the biggest human rights movement to represent the 15 per cent of people in the world that have a disability.

WeThe15 publicly campaigns for greater awareness of disabilities, accessibility, and inclusion.

It was a year of record digital engagement, in which TikTok became the IPC's most predominant social media channel.

"It was a monumental team effort, with so many people going above and beyond the call of duty for one simple reason, they believe in what we do, they believe change starts with sport and they believe in our vision to make a more inclusive world through Para sport," concluded Parsons.

You can read the full report here.