Twenty beds have been available for homeless men at the Oqota emergency shelter since the Salvation Army opened it in 2006. (CBC)

A new society in Iqaluit is taking over operations of the city's homeless men's shelter from the Salvation Army, which will stop running the facility next month.

The national organization had announced in June that due to financial and programming restraints, it cannot operate the Oqota shelter any longer. However, it agreed to keep running the shelter until the end of this year while a new operator could be found.

So on Jan. 1, a provisional board will take over the shelter, keeping director Douglas Cox and other existing staff in place.

"I was very relieved," Cox told CBC News.

"I could find a job anywhere. To keep the shelter going is my ultimate goal, obviously."

The Uquutaq Society's provisional board chairman, Monte Kehler, said the society is trying to obtain charitable status. It is also working on a new building lease that would hopefully save them some money, he added.

"Now there's a group of individuals, a society that's willing to step up to the plate and take over the operations and running of such a needed facility here in Iqaluit," said Hunter Tootoo, Nunavut's minister responsible for homelessness.

Tootoo said saving money is key for the shelter's survival. The territorial government has been helping with the transition, but Tootoo said not much money has been allotted for programs for the homeless in the territory.

"The only amount that's in the budget is $200,000 for homelessness," he said. "I think it's quite clear over the last number of years that it's cost roughly around $600,000 to operate the shelter."

Tootoo said any increases in Nunavut's homelessness budget would be at least one year away. The government found some money internally to keep the shelter running for now.