Pride Toronto has hit a snag after it was revealed that it lost almost $1.3 million during the 2017 festival, landing it the red for the first time since 2010.
Financial documents show that Pride lost $1.3 million, absorbing its $848,124 surplus and bringing the deficit to $458,209.
.@PrideToronto suffers biggest financial hit since 2010 when group calling itself #QueersAgainstIsraeliApartheid was allowed to parade. This year police were banned from #PrideParade. https://t.co/S2Wsvh2sNu
— Jane Brown (@JaneBrownNews) November 22, 2017
While never originally intended to generate revenue or include corporate sponsors, the numbers show that sponsorship dropped from $2.3 million in 2016 to $1.5 million this year, and donations by $651,450, which could spell trouble down the road.
The sponsorship dollars is one thing, but the drop in donations is stunning. It means that @PrideToronto has lost a very large part of the community.
— Peter Nogalo (@PNogalo) November 22, 2017
Beverage sales and government grants were down as well, with Pride organizers receiving only $19,120 of the $260,000 available through the Ontario Trillium Foundation.
This past year's celebrations were marred with controversy after Pride adhered to a list of demands from Black Lives Matter, one of which asked for the "removal of police floats in the Pride marches and parades."
Some have called the move exclusionary and point to it as the main reason for the financial hit.
@PrideToronto So how did banning @TorontoPolice from the Pride Parade work out for ya???
— Brian Connolly (@bconnolly00) November 22, 2017
Hope you are in so much financial debt that your parade floats into non-existence!
Remember, hatred & exclusion gets you no where!!!#Toronto #TOpoli #PrideTO #onpoli #PrideToronto #BLMTO
Toronto's Pride festival has become one of the biggest Pride events in North America and has evolved into an international week-long celebration that attracts people from all over the world.
by Lisa Power via blogTO
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